Better billing solutions can make a big difference to your agency’s bottom line. Guest Benjamin Philabaum from Biddyco explains how. Hear insights about:
- How the team at Biddyco helps e-commerce brands get more customers and revenue through Facebook and Google advertising
- How Ben and his wife first got into the marketing and agency world before founding Biddyco, and why Ben decided to take the entrepreneurial leap
- Why autobilling rather than invoicing clients by hand has been a crucial financial step Biddyco made that has streamlined their cash flow
- How Biddyco made the shift from credit card billing to ACH draft, saving the business several thousand dollars a month using better billing solutions
- What common financial mistakes Ben has seen other agency owners make when they’re trying to grow and scale
- Why Ben feels it’s important to figure out how to best differentiate your agency from your competitors, and how Biddyco has done so by emphasizing their creative side
- Why growing the Biddyco team has been a crucial step for saving time and minimizing effort, and why Ben blocks time out and closes his calendar one day a week
- Why being able to partner with his wife and share the daily workload has been a great resource for Ben
Better Billing Solutions
Benjamin Philabaum is the founder and CEO of Biddyco, an agency specializing in helping e-commerce clients market through Facebook and Google ads. In this episode, Ben shares how changing the way his business bills their clients has had a dramatic impact both on the consistency of their monthly cash flow and on their bottom line.
There’s a lot of cost associated with manual invoicing of clients. Not only are you spending labor hours on the tedious process, it also slows your monthly cash flow. Ben and his team at Biddyco switched to automated billing, so clients are now charged consistently on the same day of every month. This eliminated the need to dedicate time to billing, and the regular cycle means that Ben and his team know when money is coming in and know in advance how much they’ll be receiving. Better billing solutions really can make a massive difference in the profitability and efficiency of your agency.
Switching to ACH Drafts
The other big tip Ben offered was that Biddyco switched away from credit card billing and moved toward ACH direct bank drafts. When you’re billing a client hundreds or thousands of dollars at a time, those merchant fees the credit cards charge can add up to a huge, unnecessary monthly expense. Instead of paying a percentage of every transaction for credit card processing, Biddyco now pays a small flat fee per ACH transfer. This had the impact of saving Biddyco thousands of dollars every month…a number that directly impacts their bottom line and profitability.
As always, please visit me at www.theprogressivedentist.com for more informative, money-saving podcast episodes like this one.
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How to Connect with Ben Philabaum:
- Website: www.biddyco.com
- Linkedin: www.linkedin.com/in/ben-philabaum-0938756/
- Facebook: www.facebook.com/BiddycoAdvertising
- YouTube: www.youtube.com/channel/UCBPdl5Yu6BviPryT1jwd9lg
- Instagram: www.instagram.com/hellobiddyco/
- Twitter: @benphila
About Benjamin Philabaum:
Benjamin is the founder and CEO of Biddyco, a performance marketing and creative agency. Ben wants to live in a world where morning never ends, Facebook Ads Manager never has bugs and Cholula is present at every meal.
When he’s not brainstorming for clients and taking care of #allthethings, you can find him reading in his hammock, fine-tuning his Spiderman skills at the climbing gym, or foam rolling because of aforementioned rock walls.