Marketing School - Digital Marketing and Online Marketing Tips Stop Losing Money: Track & Grow Your Agency
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Nov 30, 2024 Dive into the world of agency growth with insider strategies on profitability and efficiency. Discover how meticulous tracking of hours and expenses can reveal hidden inefficiencies. Learn about marketing budget allocation and the importance of strong management teams in driving sales. The conversation also touches on evaluating services and adjusting pricing for better profitability. Plus, insights on navigating AI regulations and year-end reflections for future planning are shared, making this a must-listen for agency owners!
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Tracking Efficiency for Profitability
- Track employee hours, even if you don't bill hourly, to understand profitability per campaign.
- This helps identify waste, manage P&L effectively, and make informed decisions about staffing.
Acquisition Opportunities
- Many agencies lack time-tracking systems, presenting acquisition opportunities.
- Integrating these systems into acquired agencies can improve efficiency and profitability.
Daily Stand-ups for Qualitative Tracking
- Use daily stand-up meetings to track team progress qualitatively, alongside time tracking.
- This combination helps assess engagement, value contribution, and areas for optimization.