Are You Making These Seven Marketing Mistakes?

Experts explain these seven common mistakes, and how to avoid them

By Gary Thill

Contractors can spend as much as 15 percent of gross sales on marketing. But experts say many contractors are wasting that money on ineffective and poorly thought-out campaigns.

“The ultimate end metric for many companies is cost to marketing,” said Ryan Shutt, marketing director for Southwest Exteriors by Andersen, a 2016 Remodeling 550 firm. But Shutt and other experts say those costs are higher than they need to be for many firms simply because they’re not using their marketing dollars wisely.

Here are seven of the most common marketing mistakes — and how to avoid them.

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2016 YEAR-END TAX PLANNING

2016 Year-End Strategies: StraddlingTwo Years Of Significant Change

Implementing tax strategies at year-end always presents unique challenges and opportunities. The impact of recent tax legislation and significant IRS rule changes during 2016 raises the stakes. The Protecting Americans from Tax Hikes Act (PATH Act), passed in late 2015, changed —both dramatically and through some nuanced revisions— the dynamics of planning for the expiration of various tax breaks …and the permanence of others. The IRS for its part has been busy creating safe-harbor benefits under the “repair regulations,” clarifying the definition of marriage for tax purposes, fine-tuning Affordable Care Act requirements, and more, all of which immediately impact the 2016 tax year.

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Get to Know Summer Harris, Staff Accountant

Describe your role at Weber O’Brien: 

I am a member of the accounting and assurance team. I have a variety of roles, but mainly I help review company financials and ensure quality and efficiency for many different industries, which include small to medium sized businesses, non-profit and employee benefit plans.

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Are you working overtime preparing for the new labor rules?

The U.S. Department of Labor updated the rules for paying overtime, and the changes take effect December 1, 2016. Under the new rules, salaried employees who earn less than $913 per week ($47,476 per year) will be eligible for overtime pay. 

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Nonprofit Standard Newsletter - Fall 2016

As summer turns to fall, many nonprofits are entering their biggest fundraising season of the year. But along with the challenges fundraising activity can spur, organizations are facing a host of complicated developments in the industry. On the accounting side, the Financial Accounting Standards Board (FASB) recently released Phase 1 of its Nonprofit Financial Reporting Project, which has been hailed as the "biggest change to nonprofit accounting in two decades." Regulatory activity also abounds, with new regulations around deferred compensation poised to impact the way many nonprofits structure their compensation and benefits plans. In the latest edition of BDO's Nonprofit Standard newsletter, our thought leaders offer comprehensive advice for nonprofits as they navigate these challenges. 
 

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BDO Issues Fall 2016 Real Estate and Construction Monitor Newsletter

What's in store for the U.S. real estate and construction market this Fall? The latest issue of the Real Estate & Construction Monitor examines the role and benefits of R&D credits in construction, checks the pulse on healthcare-focused REITs and offers cybersecurity tips tailored to real estate and construction companies. Articles include:

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Compensation & Benefits Alert - September 2016

IRS Simplifies the Process for Correcting Late Rollovers between Retirement Accounts

Issued August 24, 2016, Rev. Proc. 2016-47 simplifies the process for correcting late rollovers from one tax-qualified retirement account to another. The guidance provides plan administrators and IRA trustees with an additional basis for accepting rollover contributions after the 60-day deadline.

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College Students: Be Aware Of Phone Scams

As you settle into your fall semester routine, both the FBI and the IRS want you to be alert for calls from scammers.

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Boost Productivity By Offering Feedback

A research study by a staffing agency reveals that younger workers want to know how the work they do affects the company they work for. 

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Computer Systems Review

Business owners have many computer systems in place in their company, managed by an employee as part of his job or managed by a third party who may not be really qualified to manage a business software system.

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