Do Companies Need To Keep Old W-2 Forms On File 10 Things You Pay For From Traditional Marketing Agencies

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10 Things You Pay For From Traditional Marketing Agencies

In today’s business world, it is no longer the big fish that eats the small fish; it’s the fast fish that eats the slow fish.

Just as the information revolution has changed how customers and market share are won, it has also transformed the old systems that once governed how companies operate and how people work. The future of business is more flexible, faster, leaner and smarter.

This isn’t just about adopting a wiretapping policy or forgoing the purchase of that expensive copier. It’s about changing the way business is done, both in philosophy and in execution.

The penalty for clinging to old business practices is losing customers who can no longer justify bills with unnecessary overhead baked into them. As leaner and smarter companies emerge, the old game changers, who are slow to change, die fast.

Marketing agencies

At the top of the scale of corporate bloat are marketing and advertising agencies. Although not all industries can get rid of their physical offices and adopt a virtual model, the mastery of digital marketing coupled with the very nature of the day-to-day business operations of marketing gives these agencies a clear path to modern efficiency.

However, in reality, few have changed. The majority of marketing firms maintain these old systems of operations, passing on the burden of their expenses to their clients.

Why? Most believe that changing their methods of operation is as difficult as adapting to today’s Internet culture and the new rules of business. Too much has changed too quickly. Clinging to old methods – even those of their own self-promotion – the traditional marketing firm continues to maintain an expensive attitude to attract its clients with its lavish offices and expensive trips. These companies force labor into physical locations, perpetuating the punching of clocks and shuffling of paper, while carrying years of old business operations in the form of debt, all of which must ultimately be paid by the customer.

There is a reason why marketing companies are dying left and right, beyond becoming irrelevant in the digital age. Today’s customers no longer accept invoices inflated by bloated operations, especially when virtual companies can do more at a fraction of the cost.

The rise of the virtual company

It took time for companies like Amazon, Netflix and Apple to revolutionize and surpass industries that were once based in bricks and mortar. Replacing the physical form has been a challenge in renewing the mind of the consumer and in remodeling traditional systems, such as fulfillment, customer service and exception handling.

These initial obstacles were quickly overcome as consumers realized the benefit of lower prices through lower overheads, mutually beneficial partnerships and geographic barriers being broken down and giving way to an expanded market. Today, that same virtual model that started strong in the retail sector is being adopted everywhere in all applicable industries. As a result, virtual companies are growing at a record pace.

2010 will see the emergence of the virtual company in full force. The convergence of technology, communication, new service-based companies and systems that meet the demands of companies that no longer carry the burden of bloated operations will allow more companies to work smarter, faster and from anywhere.

As virtual companies continue to refine their systems and customers continue to realize the value of getting better service for less money, the virtual company will gain strength and surpass the outdated traditional business models. This not only improves efficiencies but breaks down geographic barriers to markets and talent.

As we enter the age of the virtual company, let’s review ten things you pay from traditional marketing agencies:

1. Facilities

Office space is usually the biggest expense on the books for marketing agencies. These obligations range from leased space in a shared office park to owning (and owing for) real estate, independent buildings and parking facilities.

Virtual marketing companies ditch this expense because the nature of the business simply doesn’t require it anymore. Marketing is digital, and print is dying. All the infrastructure that was once housed in a physical location is now being replaced by a range of new digital services. Communication is done via email, mobile devices, video conferencing and customer panels rather than on-site meetings and customer lunches, the costs of which ultimately come back to the customer.

The marketplace requires geographic barriers to be removed to hire, collaborate and partner with the best talent in the industry. The employees of the virtual company work remotely in a virtual space that fulfills everything that a physical location provides and more. They are mobile and available immediately to meet clients. Even remote offices, meeting rooms and presentation rooms can be rented by the day or hour, as needed, so as not to waste money on a fixed building that sits there to house all the bloated systems and conventions that the traditional marketing firm clings to.

2. On-site employees and physical work systems

For many office-based companies, the days of people gathering in a building to work are gone. For these businesses, the act of keeping people around was just another form of time card punching, rooted in old systems based on the demand for people to be present and available to co-workers and customers from 9 to 5.

Virtual companies don’t operate on fixed 9-to-5 schedules. Instead, their systems and employees are faster, more flexible, working under tighter deadlines and using new, more robust project management conventions.

Telecommuting is more prevalent today than ever, for reasons that go beyond avoiding the cost of expensive office space. Happy employees are those who aren’t trapped in cabs, going through traffic, burning 30-40 hours and hundreds of dollars a month driving to a fixed location to do work that can be done anywhere. In fact, happy employees do better work, especially those responsible for great creative work.

Additionally, work systems based on having everyone in a centralized office all day are terribly inefficient. To see this, you have to look beyond hard costs and expenses and consider the man-hours wasted in meetings, programming, water cooler talking, web surfing – the list goes on and on.

Replacing the physical office environment are proven virtual office management and collaboration systems such as Basecamp, video conferencing, cloud computing and mobile Internet connectivity. Most importantly, the philosophy behind the work is based on maximizing project development efficiency rather than filling a 40-hour work week simply to adhere to a convention.

3. Utilities

From security systems, electricity, heating and A/C to cleaning and facility repairs, the ancillary costs of facility maintenance can be extraordinary. This is an expense that virtual companies leave behind and do not pass on to their customers.

4. Landline telephone systems

In an age where business is a 24-hour proposition, anywhere and everywhere, corporate phone systems are a colossal waste. Everyone has a cell phone, and most working professionals carry smartphones. For many, the redundant office phone collects dust, and voicemail systems are rarely used. At a time when most households are ditching the costs of landlines in favor of more flexible and leaner mobile phone options, many businesses are still lagging behind.

Agencies that continue to operate from a physical facility must pay to maintain and upgrade expensive landline systems, adding yet more foreign dollars per hour to their clients’ bills.

5. Office furniture

Expensive offices, conference room tables, desks, chairs, bathrooms, kitchens, interior decoration and even trophy cases displaying purchased accolades are omitted from the overheads of all virtual companies.

6. Computer infrastructure and LANs

So many companies still maintain piles of file and print servers along with data backup systems, server redundancies, uninterruptible power supplies, routers, switches, cabling, internal email systems – the list goes on.

For virtual companies, the idea of ​​a LAN (local area network) has been replaced by cloud computing, with Web-based service providers, project management, collaboration systems and applications. These systems can be accessed from anywhere in the world, offer true collaboration with anyone and are always supported and protected.

In addition, project management in the virtual space allows for new and innovative work habits that promote speed, efficiency and flexibility in ways that legacy companies using old work systems simply cannot keep up with.

7. Paper

So many of the slow, dying companies we see today continue to live in an office with paper circulating all the time. Believe it or not, nowhere is this truer than with your local marketing agency. Also included in this paper-filled world are printers, photocopiers, fax machines, shredders and an endless variety of supplies, all to support paper trails that lead from the office to the customer and back before ending up in a beautifully climate-controlled. files.

Virtual companies exist in a paperless world, and the best work circles surround those who remain in a paper office. The benefits of going (and staying) completely digital are huge. Digital documents are searchable, shareable, versioned, more secure and viewable on almost any device. The more files are stored, used and cataloged in digital format, the more efficiency will increase overall.

8. Support staff and personnel

When agencies pay for office space, furniture, phone systems, computing infrastructure and everything in between, they also require additional staff, time and resources to support those systems, including office managers, receptionists, IT staff, cleaning crews, landscapers and security, to name a few. some Thus, these already excessive expenses are further aggravated and passed on to the customer.

9. Restricted geographic barriers

If there is one thing that the Internet has brought to the economy, it is the expanded market. The business systems of virtual companies are not only set up to accept clients without most of the additional expenses suffered by traditional companies but to employ the best talent available anywhere.

Truth is, many marketing agencies are limited to their local markets. While these companies in theory would jump on a plane to accept a client almost anywhere, most find in practice that only local clients are cost-effective given the traditional systems still in use.

10. Debt

The result of all this spending in a world that is rapidly changing to leaner and smarter operations is that this large part of the surplus is carried forward in debt, which comes at a premium paid to the bank in interest. That ongoing liability is passed on to customers along with the cost of all other inefficiencies.

Virtual companies that start fresh, using smart, lean and flexible systems of operation do not carry years of bad investments in outdated, expensive systems on their backs. In fact, as traditional marketing agencies continue to lose clients and market share to these more agile modern firms, the additional debt taken on to stay alive will eventually lead to the demise of the slow, bloated traditional marketing firm as we know it.

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