As Clients Take Longer to Pay Bills, Small Agencies Are Feeling the Pressure
Getting paid on time is a worsening struggle for independent shops
According to a recent ANA survey, roughly a third of marketers have extended payment terms in the past year.
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Key insights
- Lagging payments can hold up an agency's planning and even hiring
- When clients try to make 'exceptions' to pay faster, it still doesn't always work out
- Small agencies are hired for their speed and agility, but don’t get it in return from clients
Despite expecting more from their agency partners for less, marketers are taking more time to fork over cash for their services, a practice that’s disproportionately affecting smaller agencies with fewer resources.
