MESSAGE TO VENDORS: ‘What We’ve Learned in 2007′

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Advertisers preach to an ‘ecosystem of influence’ and must hit prospects at the right stage of the ‘buying journey.’

By Hank Berkowitz
from AICPA Custom Media

The hazy dog days of August are upon us. But are they still lazy? Traditionally it’s time to take a breather, catch a little R&R and take stock of how the year’s been going before gearing up for the September whirlwind of pent-up decision-making and the Q4 budget grind. Anybody remember those good old days?

We’re not suggesting you’re a sloth if you don’t have your Holiday greeting cards already at the printer, but in today’s business climate, you better be ready to hit the ground running well before Labor Day. To make life easier on you, here’s a summary of what we’ve learned in this column this year (it won’t take up too much of your time):

Key Learning #1: Marketing budgets are set (and reset) on a year-round basis.

August has become the new September. Many of your colleagues are making those painful, post-Labor Day budget decisions right now. Marketing budgets seem to be evolving, readjusting and resetting pretty much on a year round basis.

Need proof. Less than half of you (45%) who responded to the spring CPA Marketing Insider reader poll told us you were nailing down your marketing budgets in the traditional October to December quarter. Almost a third of you (31%) said you were setting budgets the January to March quarter and 26 percent of you are waiting until the spring or summer quarters. It’s still painful, but at least the pain is more evenly distributed.

Key Learning #2: Marketers have more choices (and objectives) than ever.

The choices for B2B marketers are more varied than before and hopefully you’re taking extra time to think through your decisions and add effective new weapons to your prospect-hunting arsenal. The good news? Three-fourths of you (73%) have more dollars to work with than last year and 40 percent of you told us your budgets are 10 percent larger than they were they year before.

READER NOTE: “Beyond the Click,” a new case study from AICPA Media and Bay Street Group Research explores ways to use online effectively to tie into the customer’s purchase decision process. Click here to request your FREE copy.

Key Learning #3: Customer acquisition and lead gen are top marketing priorities in B2B. Branding is less important.

Top marketing priorities for AICPA clients in 2007:
Customer Acquisition
Lead Generation
New Market Growth
Brand Awareness
Product Penetration
Customer Retention
Thought Leadership
Source: CPA Marketing Insider and Bay Street Group Research, 2007

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Posted on August 30, 2007
Filed Under BSG MARKETPLACE - Products, Services and Vendors | Leave a Comment

EXECUTIVE PREVIEW: Managing the Workload

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In this survey, 703 responses were gathered in the period from July 16 through August 25, 2007. The vast majority (71%) of respondents work in public accounting; 64% at firms of 50 or fewer employees; and 66% as senior or C-Level executives.

JOIN THE RESEARCH PANEL: Take the survey. Get results and updates.

KEY FINDINGS

1. The problem of overwork is pervasive.
• 57% of CPAs report “frequent” or “crisis”-like stress issues.
• It’s bad: 58% of CPAs work 50 or more hours a week.
• It’s getting worse: 43% are more stressed than a year ago.
• Busy season is the worst: 91% work more than 50 hours a week.

2. The key reasons for the heavy workload are the accelerating pace of business and a shortage of human resources.
• Trying to keep up: 58%
• Business growth: 57%
• Staff shortage: 54%
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Posted on August 26, 2007
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EXECUTIVE PREVIEW: Career Strategies 2007, Part 2

What’s the best piece of advice you could offer to a young CPA just starting out in the profession?
• Never take training for granted. Get the most out of it. Get your CPA early and go after your masters in tax or business. Treat your clients as you would want to be treated. Learn from your mistakes.
• Pay attention to the details, understand the big picture, and have a strategy.
• If you became a CPA because you love working with numbers, you’re off to the right start. Now, for the hard part, find the field of accounting that fits your personality and peruse it. Don’t chase the dollar; it’ll find you. Just find a niche you enjoy as much as any hobby you have, and working hard to succeed will come easier for you.
• Until you obtain experience, listen to those that have.
• Don’t get caught up in negativity.
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Posted on August 25, 2007
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EXECUTIVE PREVIEW: Career Strategies 2007, Part 3

What’s the single most important factor affecting career paths in the profession today?
• CPAs are more than just accountants – they’re finance people and business and individuals planners. Image is the most important factor affecting the profession. If we are respected and held important to business & individual financial success more young folks will join us and more folks will use us. If, however, CPAs are not viewed as essential to the business & individual community the profession will shrink. Personally, I believe the public sees the value of the CPA but the profession must keep pushing its importance to the public.
• Fast changing technical and compliance requirements.
• Keep your options open. I’m not promoting job hopping, but the simple truth is the best way to move up is often to move on. Hold a high standard for going to another employer, but don’t shy away from a better carreer opportunity.
• Client Service.
• Balance between work and life
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Posted on August 25, 2007
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EXECUTIVE PREVIEW: Career Strategies 2007

Are you a “people person?”

It may be more important to your career than your technical expertise, according to more than 400 CPAs in the survey so far. Here we present the Executive Preview for the Bay Street Group study, “Career Strategies 2007.” Read on for verbatim responses on advice and guidance for new CPAs and the profession as a whole.

Join the survey, get the results, here.

What’s the best piece of advice you could offer to a young CPA just starting out in the profession?
• Never take training for granted. Get the most out of it. Get your CPA early and go after your masters in tax or business. Treat your clients as you would want to be treated. Learn from your mistakes.
• Pay attention to the details, understand the big picture, and have a strategy.
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Posted on August 25, 2007
Filed Under BSG RESEARCH | 2 Comments

EXECUTIVE PREVIEW: Career Strategies 2007, Part 4

Is there anything else we should be asking about finding success in today’s profession?
• What one character trait do you feel makes you best suited for a career as a CPA?
• What is your priority (purpose) – money or ethical work product?
• How do you know whether you will be happier in public or private accounting? What are the pros and cons of each career path, and what amount of earnings can be realistically expected from each?
• How important is money in your happiness radar?
• What are the unexpected paths that your CPA license may lead you? For instance, I never expected to be working as an educational administrator, but I love it.
• Are partners in large firms willing to sacrifice income to help facilitate a better work / life balance?
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Posted on August 25, 2007
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PHOTO ALBUM: Illinois CPA Show

Could all these smiling faces be wrong? Nope!

The Illinois CPA Society drew huge crowds again this year for the annual Business and Technology Show at the Rosemont convention center near Chicago. From the looks of it, a good time was had by all.

See more pictures from the show at flickr…

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Posted on August 22, 2007
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9 Big Ideas for Turbulent Times

Practice consultants brace firms for looming trends.

CPAs sound off: What’s the big idea? Join the survey; get the results.

by Rick Telberg
At Large

Over the past few years, we’ve seen a torrent of change in the accounting profession. First there’s consolidation. The number of big firms has dwindled while the size of each firm has increased. Simultaneously, the number of small firms has increased, and they’ve done reasonably well under a lot of pressure. Meanwhile, regional firms have been scarfing up the smaller clients that have trickled down from the big firms as Sarbanes-Oxley tightens up the time supply.

But guess what? You ain’t seen nothin’ yet. The changes are going to keep coming at us. If you’re smart, you’ll ride this tidal wave of change.

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Posted on August 20, 2007
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EXECUTIVE PREVIEW: Big Issues, Big Ideas

See the article: 9 Big Ideas for Turbulent Times
Join the Survey. Get the Results.
Email your comments.

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Posted on August 20, 2007
Filed Under BSG RESEARCH | 1 Comment

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