Why Does A Marketing Agency Perform Financial Audits
Being financial sound is paramount to the growth of any business, but it is especially important to review when it comes to your marketing. Do you have enough cash in the bank to support growth? Do you have a flex marketing budget? These are just a few things we look at when it comes to your financial health.
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Why does a marketing agency perform financial audits?
A part of our Research, Audit, and Strategy phase that we offer all of our clients is a full Financial audit. You may think the seems outside the realm of a marketing agency, but everything we’re doing is with your endgame in mind. This means to make you more in pre-tax profit and increase your bottom line, and how will we ever know if we’re getting there if we haven’t reviewed financials with you?
Financials are important to the marketing strategy in a couple of different ways:
1. Does your budget allow for an outsourced marketing team?
2. Is your business in a sound financial place to grow with the marketing campaigns?
3. We have a few different marketing key performance indicators (KPIs) that we look at that tie directly into your finances. Some of those KPIs eyes that we looked at are:
LCV: Lifetime Customer Value
COA: Cost of Acquisition
ROMS: Return on Marketing Spend
ROAS: Return on Ad Spend