In this article I will discuss the linking between marketing and accounting as I am into marketing/accounting. There are many connections between accounting and marketing. Marketing activity is something that should not be supervised and many times is more helpful and harmful to a business. It's absolutely true that all businesses, including professional services firms, need to stand out in their market. This is achieved by creating a compelling message that differentiates the company from its competitors. Imagine this scenario: You could close an additional $275,000 in revenue in a single day. And on the same day, you could identify additional revenue opportunities worth over $500,000. It may take a little planning and a little hard work, but it is possible. In fact, Clark Haley, president of San Antonio-based Business Computer Systems, did just that by organizing the company's annual user conference. While Haley believes all marketing efforts have some value, “the event that is most measurably effective is the user conference.” Each client conference costs approximately $10,000 and requires more than 200 hours of content development and planning. However, the company closes $150,000 in new business from each of them. (Caragher) Public accounting firms that want to advance to the next level, becoming and remaining profitable, are adopting many of the proven concepts that have worked so well in multinational America. This includes recognizing and embracing the importance of structured, integrated marketing efforts. Marketing is fundamental to the success of every company. Unfortunately, many companies underestimate the effect it can have and forego their marketing efforts on other businesses. Or they make one or more of these mistakes and their marketing efforts become ineffective. Perhaps this is why nine out of 10 companies end up in failure. Effectively communicating the company's distinctive capabilities, its special abilities and hard-to-duplicate skills, is one of the key roles that accounting marketing professionals play today. In a world of intangible assets, marketing can take a company further than ever before, helping the company grow by strengthening the brand, position and image that separates it from the competition. Marketing achieves this by creating and implementing a balanced strategy that integrates a variety of tactics such as research, planning/execution, and collaboration capabilities. Preliminary market research enables today's companies to make informed decisions by helping them evaluate obstacles, challenges and opportunities, as well as analyze the company's personality and culture, goals, strengths and weaknesses by examining the resources and the skills available.
tags