4 Ways Digital Marketing Agencies Can Leverage ClearSpend
Struggling to manage expenses and spending for your digital marketing agency? Here's how ClearSpend can keep your ads running, prevent overspend, and give you more time to focus on clients.
Digital marketing agencies know how to test, pivot, and adjust. It's baked into your business model and every campaign you create.
But when it comes to controlling spending, most digital marketing agencies rely on the same old tools—and run into the same old problems. Ads get shut down; cards get declined; sometimes, you're on the phone at midnight to reapprove funding for Twitter ads in Spain. Good times.
Do you wish there was a better way? Spoiler alert: There is. ClearSpend is a free expense management and spend control platform designed specifically with small businesses in mind. And we built it with the help of small business owners like Leanne, the owner of a social media marketing agency. We recently sat down with Leanne to see how ClearSpend could give her more control over company spending.
Control and track ad spend
In a perfect world, you'd keep meticulous records of how much to spend on each client. The problem is it gets complicated—and ad spend can change month to month. Your ad budget might look like this:
- Client A's package includes up to $1,000 in ad spend
- Client B's package includes $1,000 in ad spend, plus they added another $5,000 for their new product launch.
- Client C usually spends $5,000 on ads, but they're gearing up for a sale and want to spend another $1,500.
It's hard to keep track of changing ad budgets. And, if you're not careful, you might spend too much on one client or let that Black Friday ad run weeks past Christmas.
It happens to the best of us. Luckily, ClearSpend has you covered. With ClearSpend Go Cards, you can generate virtual cards for each client and fund them for the exact amount you want to spend that month. If your ads try to go over budget, the card is declined and the ads stop.
Plus, you can easily see how much ad spend each account uses, which platforms spent the most, and add more funding as needed right from the ClearSpend dashboard.
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Prevent fraud or misuse when paying vendors
How many vendors do you pay every month? If you're like most digital marketing agencies, it's a lot. There's the SEO tools, social media posting tools, analytics, reporting, web hosting, lead generation, developers, copywriters, etc. That's a lot of tools (and people) with your credit card information. Plus, many subscription services seem to be in a contest to win the "hardest service to cancel" award. It's annoying, and it leaves you open to fraud, too.
"We have vendors that we pay every month, and most have my business debit information. With ClearSpend, if I know it will be $5,000 a month, I can say, okay, here's your card. And I know at the end of the contract, I can turn off that card. And my personal business debit card isn't potentially at risk." - Leanne D, Social Media Agency Owner
In the ClearSpend dashboard, you can generate a card for each vendor, protect your actual bank account number, and quickly turn it off when you're done. The result? Less stress and more security.
Set contractors up with business payment cards
Working with new contractors can be a hassle, especially if they're in a role where they need to make business purchases. In some cases, you have to set up direct deposit, gather documentation, and maybe even get them set up with a new laptop. Wouldn't it be easier to give them a prepaid Visa card instead?
"When we have new contractors coming on, I ask, do you want to do direct deposit? And they're like, I don't have a bank account. So a payment card would be really useful. Like, give them a card with some cash value, and they can use it however they want." - Leanne D, Social Media Agency Owner
With ClearSpend, you can generate as many payment cards as you like. Want to send a new hire a prepaid business debit card to buy a new laptop? You can do that. How about a card they can use to pay for all the fancy SaaS apps they need to do their job? We got you covered.
Improved expense reporting and control
You know what we really love? A big box stuffed full of paper receipts. And then there's the sorting—was this receipt from last month's office lunch or sales conference in Vegas? Nobody knows! So fun… Then, there's the issue of spending authorization. If you're the boss (or owner), everyone comes to you when there are issues.
"I really like the idea of being able to give authorization to other people. So I have Department heads; if they have access to their entire budget, they know how to divvy that up amongst people. That's easier than me trying to figure out how to assign each department's funds because I'm not involved in their day-to-day." - Leanne D, Social Media Agency Owner
Are you tired of clunky expense reports and annoying receipt reconciliation? We are too! With ClearSpend, you can set merchant categories, limit daily/monthly spending, and embed those limits directly onto ClearSpend Go Cards. You make the rules; we'll enforce them. At the end of the month, there's no receipt box and no annoying expense reports.