ADVERTISING, MARKETING & CONSULTING
The advertising industry in the US generates annual revenue of about $88 billion. The top 50 companies generate only about one-third of that, leaving opportunities for many of the boutique firms in the South Florida market. Nearly 15,000 advertising firms operate in Florida, with about 6,500 in South Florida. Zimmerman Advertising, a unit of the international conglomerate Omicom Group, ranked #1 in the 2011 South Florida Business Journal list of Top South Florida agencies, with $2.8 billion in South Florida billings.
Is the economic downturn affecting your clients' spending? Economic conditions have a direct effect on many businesses' marketing budgets. Small to mid-size companies weigh the value of agencies compared to internal resources which some believe can better represent a brand's personality, particularly in social media. As a result of the current downturn, many advertising agencies are experiencing cash flow issues, or may need to seek operational efficiencies.
Kaufman, Rossin's Accounting Services professionals help our clients identify cash flow opportunities - we've written articles on the topic in a variety of media. Our Quickbooks ProAdvisors can help you increase your efficiency and improve financial reporting to enable quick and effective decision making.
Feeling the effects of the changes in media? The decline in print, the growth of digital, and the continued fragmentation of audiences are causing considerable change in the services clients demand. Strategic assessment of your firm's ability to meet those demands may lead to investment or divestment decisions.
Our Business Advisory Services group can help you build the foundation for success with business vision strategy services and best practices benchmarking. Business Valuation and Due Diligence services assist clients considering buying or selling business units.
Considering geographic diversification? National and even international business is no longer limited to the largest companies. In South Florida, international accounts may present themselves to agencies with specialized skills or expertise. And many companies operating across the U.S. seek the specific expertise of South Florida's Hispanic agencies. Diversifying geographically can be lucrative - and complicated.
Our international and multi-state tax and consulting professionals help clients make the leap into exciting growth opportunities while protecting them from associated risks.