Typically, smaller agencies have streamlined internal processes that ensure quality and efficiency. With fewer cooks in the kitchen, turnaround times are faster and approvals come quicker too, making agency staff more effective. Clients can expect their work to be completed by experienced talent, rather than handed over to a first-year assistant account coordinator or intern.

A great way to test an agency’s quality is by looking at their client retention rate, client satisfaction scores (CSAT), cross-sell and up-sell rates, and response time. By comparing these metrics to those of other agencies, you can see how much value an agency provides and determine whether they’re worth the investment.

To maximize ROI, it’s important to keep your budget in check. To do this, it’s best to use a cloud-based accounting system like Xero that can provide custom rules and automation that categorize expenses automatically. This helps to prevent over-spending or misallocating funds. It also gives you the clarity to prioritize business profit versus cash flow, which is critical when running an agency.

To stay on track with your agency’s growth goals, it’s essential to establish a chart of accounts that includes all of your agency’s revenue and expenses. Update this regularly – usually weekly for small agencies – to keep track of your business’s financial performance and profitability. With a chart of accounts, you’ll be able to easily compare and analyze your agency’s performance over time and identify areas for improvement. agency accounts