3 Ways Your Accountant Can Help You Market

Did you know that your revenue and expense records can help you market your product or service?

Due to government requirements most small businesses like yourself keep detailed records about your finances.  But these records can be used for more than filing your taxes.

Here are 3 ways you can use your financial records to benefit your marketing.

Know your true marketing costs.

If done well, your books will provide a detailed list of any marketing related expenditures including those you may forget.  Sure you might remember the upfront cost to have a booth at a tradeshow but your records will help you identify the other related costs such as parking, printing and signage costs.  With this information you know the true cost for participating in the trade show.  In the future you will be better prepared to make decisions about this and other related opportunities.

Use the past to help plan for the future.

Look through your list of marketing expenses.  Which ones would you like to continue doing because they resulted in revenue and other positive outcomes?  Was it the series of ¼ page ads in your local newspaper or the free workshop you gave on menu planning?  Schedule and budget successful activities into your coming year.  Discontinue those that were not successful.  Also look for seasonality trends in your revenue.  Consider marketing efforts to promote increase revenue at slow periods while ensuring peak periods remain supported.

Which products or services sold the most?

Analyze sales information to understand which products, services, distribution channels are contributing the most gross revenue and net revenue.  Perhaps your course “Backpack Essentials” is very popular, but doesn’t contribute very much to your net revenue.  Review pricing.  If your e-book “Camping Essentials” contributes a lot of net revenue per unit but isn’t selling well – plan to increase your marketing efforts of this book to increase sales.

Once you take a look at your numbers from a marketing perspective you will discover a gold mine of information.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>