Evolution of Advertising Practices in Australian Accounting

Australian accounting has a deep link to the colonial accounting practices once popular in Britain. During the colonial rule, Australia was significantly influenced with the traditional pattern of marketing in accounting services. Earlier a greater number of restrictions existed on Australian accounting organisations and professionals, so their ways and modes of promoting themselves were also very restricted.

Earlier there were restrictions on the size and type of content that can be used in marketing materials, so accounting firms were not more inclined towards marketing or advertising on big scale. With relaxation in marketing standards after 1984, Australian accounting firms started taking marketing seriously. Australian accounting firms have shown better understanding towards marketing and its various benefits.

The traditional ways of marketing in accounting services are:

• Client Referrals – It is the most preferred technique used for spreading accounting services. This method is believed to be the most ancient way of bringing in new clients to any accounting firm. With passing time, accounting firms have also changed their perception about marketing. Now, bigger as well as smaller firms show seriousness towards their marketing plans and are concerned about their company’s image.

• Accounting Seminars – these accounting seminars are conducted by Australian accounting firms periodically to influence, educate and also promote their services to prospective clients.

Changing Client perceptions:

With the improvement in accounting services, clients have also become much informed and demanding. Earlier clients used to make their decisions on the basis of personal experience or referral etc. But nowadays, clients are more aware and accounting service providers’ first need to resolve their queries. Client communication has become an integral part of the marketing campaigns in Australian accounting.

Accounting firms show quick response to queries from their clients and also encourage their clients to give feedback. Under modern marketing approach, accounting firms employ a variety of methods to reach upto their clients. Some of these methods are:

• Online presence: strong image building by website and blog page. • Social media: clever use of social media to increase consumer awareness and interaction with the company / service provider

• Free information: distribution of free information, consultation and free seminars or webinars to inform, educate and increase the goodwill among people.