Fractional CFO for marketing agencies: know which clients, projects, and staffing decisions make money
I help marketing, media, and creative-service firms replace company-level averages with a clear view of client profitability, delivery capacity, cash, and the economics of growth. I co-founded a performance media agency and ran its finance and operations for over a decade - I know this business from the inside.
30+ years
as a CFO
MBA
in Marketing
CPA
Georgia State Board of Accountancy License #CPA012637 (inact)
Trusted by leaders at
Revenue can grow while the agency becomes harder to run
The top-line story can look healthy while the underlying economics weaken:
A large client consumes senior time that was never priced into the scope.
Utilization appears high, but rework and unbilled effort erode margin.
Hiring decisions are made from pipeline optimism instead of capacity and cash.
Retainers feel predictable, yet work in progress and scope creep make delivery unpredictable.
Monthly financials show total profit but cannot explain which clients or services created it.
The answer is not another generic dashboard.
It’s a financial model that reflects how the agency sells, staffs, delivers, and collects.
The agency questions CFO leadership should answer
01
Which clients are actually profitable?
Move beyond revenue and gross billings. Understand delivery labor, contractors, media pass-throughs, write-offs, discounts, and unbilled senior attention at the client and project level.
02
Are we staffed for the work we expect?
Connect signed work, weighted pipeline, delivery roles, utilization, and cash so the hiring decision is neither too early nor too late. See when agency utilization looks healthy but margin does not.
03
Where is scope creep becoming a financial problem?
Identify recurring overruns, slow approvals, unpriced revisions, and work-in-progress patterns. Give account and delivery leaders an early-warning process.
04
How much cash does growth require?
Model collection timing, payroll, contractors, software, commissions, and media obligations so growth does not create an avoidable cash squeeze.
05
Is the media spend earning its keep?
A spend / pipeline / revenue bridge with conservative attribution - so you can lower acquisition cost and payback, and reallocate to proven channels. I steered $1M a month of media spend against exactly these questions.
What I can build with you
Client and project profitability reporting.
Utilization and delivery-capacity model.
Work-in-progress, write-off, and scope-creep visibility.
Pipeline-linked revenue, staffing, and cash forecast.
Media-spend efficiency: CAC, payback, and channel economics.
Pricing and service-line economics.
Monthly management reporting for owners and practice leaders.
A financial agenda for hiring, acquisitions, financing, or exit planning.
Recommended starting point
Agency CFO Decision Diagnostic
In 10 business days after receiving complete data, I develop:
1
A 13-week cash view that reflects collections, payroll, contractors, and major obligations.
2
A client/project profitability map using the best available time, billing, and financial data.
3
A 90-day action plan covering the most important margin, capacity, reporting, and cash decisions.
Planning investment: $3,000-$5,000, confirmed after a fit call.
The 36-month models that took a two-founder media agency to $35M
In 2005, my co-founder and I launched Baywalk Media as a performance-based digital media agency. He led business development and product development. I owned finance, operations, legal, payments, compliance, and technology.
We ran CPA-bounty campaigns for Citibank and Allstate and managed lists for WebClients.net. B2C technical support became our largest campaign in a fragmented market.
~$35M
peak revenue at 20% EBITDA
1.2M
consumers served over a decade
$1M/month
media spend guided by the models
What I led
Modeled the economics
I built 36-month models from unit economics through full company financial statements. They guided nearly $1M in monthly media spending across many concurrent campaigns - and thousands over ten years - measuring acquisition cost against customer lifetime value.
Used the numbers to guide the pivot
The models showed B2C technical support becoming the stronger opportunity. I helped restructure the company around it, and we combined with Quatrro to form Quatrro Direct as its U.S. B2C business.
Controlled the payment engine
I oversaw PCI-compliant, multi-currency processing and service-quality monitoring. We held processing cost below 4% of gross, refunds below 15%, and chargebacks below 3%.
The result: approximately $35M in peak revenue at 20% EBITDA, averaging roughly $25M a year over a decade, serving 1.2 million consumers. The B2C proof of concept later led Quatrro to acquire the business.
The takeaway: financial models connected media spend to acquisition cost and customer lifetime value, identified the strongest opportunity, and supported the pivot to a profitable product business.
This describes Bob’s role as co-founder, CFO and COO of Baywalk Media / Quatrro Direct (2005-2017), not a Fractional CFO client engagement. Names, dates, and results are published with permission.
Is this the right fit for your agency?
Best fit
Approximately $5 million to $50 million in revenue.
Owner-led and not ready for a full-time CFO.
Usable accounting records and at least basic client/project data.
A decision involving margins, hiring, pricing, cash, acquisition, financing, or exit.
Leadership willing to hold client and operating decisions accountable to the numbers.
When it’s not the right fit
When the immediate need is bookkeeping cleanup, tax preparation, or a generic agency valuation without reliable financial data.
Frequently asked questions
Do we need perfect time tracking?
No, but the quality of client and project profitability analysis depends on the available delivery data. I’ll identify what can be concluded now and what measurement should improve. False precision is not the goal.
Will you tell us to cut unprofitable clients?
Not automatically. A low-margin client may have strategic value, short-term onboarding cost, or fixable scope and pricing problems. The purpose is to make the tradeoff visible and deliberate.
Can you work with our existing accounting and project systems?
Usually. The first step is to use the current systems and exports more effectively. New technology comes in only when it solves a defined decision or control gap.
Is this only for digital agencies?
No. The model applies to creative, media, marketing-services, communications, and other project- or retainer-based firms when my experience and your needs are a fit.
Stop managing the agency from company-wide averages
Or text me directly at (727) 455-9905.