Advertising agencies and marketers are experiencing some significant shifts in their services with the introduction of digital advertising - and for some this brings on the need for change.
Adapt and Innovate
Adapt to survive seems to be the motto of the current reality. And furthermore, adapt and innovate.
We can easily detail how the advancement of technology has drastically changed the way we function and communicate. But these changes have also brought repercussions in our businesses as well as our personal lives.
It’s not just how we stay in touch anymore, but how we can reach out, stand out and interact.
Advertising Industry Changes
This is especially true in the advertising and marketing industry. Social media has been one of the key game changers with how the industry operates. While the annual revenue for the advertising industry is solid and the market is experiencing growth, the methods are no longer the same, and the money is being spent in a different way.
Marketing monies are now directed towards an online presence. Below-the-line communications are demanding more of the allocated budget at the expense of the more traditional above-the-line communication. The way we reach and engage our target audience has altered, and the pressure to perform with measurable results is greater than ever.
Our accounting services for ad agencies can help you successfully detail, assess and adapt your business to stay at the top of your game, without shifting your focus from the business that matters to you.
Accounting Issues For Ad Agencies and Marketers
The economic downturn has seen repercussions with major budget cuts in the areas of marketing and advertising. Rather than securing the expertise of agencies, many small to medium business enterprises are searching internally for a solution that can be managed and controlled in-house. Below-the-line communication is rapidly taking a stronghold, as brands become more able to tailor their message, and strategically target their desired audience.
This may be having an effect on your cash-flow, your staffing levels, and how you should be operating to maximise your revenue. Performing your own accounting services for your ad agency can get complicated. How much of a grasp do you have on your financial situation and is it time for a review?
Addressing the Issue
How are you adapting your business to allow for these changes? Coupled with the economic downturn are you clinging on and trying to ride it out until the financial situation improves?
Strategic assessment is a good place to start. Engaging accounting services for ad agencies by a trained professional can set you on the right path from commencement.
We can guide you towards making solid decisions for the future of your business or agency. Our accounting services for ad agencies can help with areas such as:
- Advice on integrating your accounting systems with business software for efficiency
- Redistribution of assets
- Cash flow issues
- Revenue recognition
- Independent contractor or staff: understanding the difference and benefits to you
- Tracking of outgoings and incomings
- Accounting preparation for the smallest to the largest of companies
- Monitoring and highlighting best practice solutions
- Streamlining your business for improved efficiency
- Convenience of options including on and off-site accounting
- Advice on industry specific tax requirements
- Forecasting and planning.
We love numbers; it’s what we do best.
We know numbers and how they work in your industry.
We assume if you loved numbers as much as we do, you would probably be an accountant.
So why not let us do what we love, so you can focus on what you love. Contact us or for a faster response call Travis Allen to arrange an initial consultation.
We service accounting clients in Melbourne and suburbs such as Ashwood, Oakleigh and Carnegie.