8 Key strategies to make your advertising agency more profitable
Running an advertising agency is a constant challenge. You need to attract new clients, keep existing ones happy, and, most importantly, ensure your business remains profitable. How can you achieve this? The key lies in optimizing management, focusing on strategic clients, and making smart financial decisions. If you’ve ever wondered why your agency works so […]
How much does employee turnover cost your agency?
Gone are the days when skilled professionals dedicated their entire careers to a single company. Today, the average tenure for workers between the ages of 25 and 34 is just 3.2 years. In the marketing industry, this number is even lower, with one of the highest turnover rates at 19.8%. When a new employee joins […]
Does your consulting firm rely too much on a few key clients? How to diversify and ensure sustainable growth
Consulting firms often build long-term relationships with their most important clients. However, when a large portion of revenue depends on just a few clients, the business becomes tied to their continuity. If one of them reduces their investment or switches providers, the financial and operational stability of the firm can be at risk. So, how […]
Profitability in IT project management: Why cost accounting matters
In IT project management, profitability isn’t just about selling more—it’s about truly understanding how much each project costs to execute. Increasing revenue alone isn’t enough if costs aren’t properly identified and controlled. “Many IT companies see their margins shrinking because they underestimate costs or allocate them inaccurately, which affects business stability and long-term planning.” This […]
Beyond creativity: The role of financial accounting in multidisciplinary teams
Managing a creative agency means finding the balance between artistic inspiration, effective strategies, and business organization. Achieving this balance requires the coordinated efforts of multidisciplinary teams and a solid understanding of financial accounting tailored specifically to the creative industry. Additionally, staying alert to how time is used and identifying deviations early is crucial. These factors […]
Perceived value vs. real value: The dilemma that defines pricing in creative agencies
The price of a creative project doesn’t always reflect the effort, time, or expertise it requires. Often, the price of a project depends almost entirely on how the client perceives its value. This gap between real value—which includes the costs in terms of time, resources, and concrete results—and perceived value—what the client believes it’s worth—represents […]
The transformation at Garnier BBDO: Real-time data driving decisions
At Garnier BBDO, strategic decision-making has undergone a significant transformation thanks to the use of data-driven tools. Mauricio, a leader at the agency, sums it up: “COR provides us with insights into our operations, and we act based on that.” This shift has revolutionized how they manage projects, optimize resources, and foster more constructive relationships […]
How can agencies step up their game in a data-driven world?
In 2020, the Economist newspaper published a report titled “The world’s most valuable resource is no longer oil, but data”. Following this, many experts from different agencies hailed “data” and “ data-driven decision-making “ as the next big thing in business. As more and more organizations began to notice the power of using data a […]
Why Do Workflow Diagrams Software Matter?
You can communicate almost any concept better in visuals than in words. Business process diagramming integrations are excellent tools when your agency is trying to grow and improve. These visuals will help you see your operations from start to finish and enhance your workflow process. You may find areas that need to be worked on […]
Planning your Agency’s Budget 2023: Pin Down the Essentials
What is enough to get your brand noticed and drive appropriations for projects? How much is too much to generate a meaningful return on investment? Here’s what you should know about developing an agency budget. Running an agency is by no means, an easy task. You have to go through a tiring process to acquire […]
What is the Best Structure for the Financial Department of an Ad Agency?
Depending on the size of the agency, a financial department can be crucial for optimal creative performance. To a proper performance and a good workflow in ad agencies, cross-departmental integration is crucial but many times not taken seriously. Oftentimes, the creative workers are the ones that take all the credit. They are the copywriters, and […]
What Does the CFO of an Ad Agency do?
The chief financial officer role is constantly evolving. Technology and emerging marketing strategies have changed the game forever. To begin with, we must understand how this position was traditionally seen and functioned in order to explain its evolution. What is a Chief Financial Officer? It is the highest-ranking financial professional in an organization and is […]