How can you take advantage of tax statutes to grow your company? How should you reevaluate your relationship with the Servicio de Administración Tributaria (similar to the IRS)? Is it worth investing in marketing and advertising? What are the best ways to do it? Can those expenses be deducted?
These were some of the issues that led the managers of BAS Fiscal, Vallarta Lifestyles Media Group and Nivel Creativo, in collaboration with SEAPAL Vallarta, to organize a series of presentations aimed at providing useful information to all interested in growing their business by taking advantage of tax incentives.
“How You Should (Not) Spend on Marketing and Advertising,” which they held last month, did just that, featuring four presentations given by accounting and media specialists. The premise was clear: Marketing and advertising are 100 percent deductible for income tax purposes (ISR), so they represent an excellent investment, enhancing positioning and growth.
Growing Using Tax Incentives
The first of these presentations, titled “Growing Your Business Properly by Using Tax Incentives,” was presented by public accountant Pedro Tabares of BAS Fiscal, who began by reviewing the role of the Servicio de Administración Tributaria (SAT), saying that it is like a partner in your business, receiving 30 percent of the profit through the collection of taxes.
Because of this, he strongly recommends financial planning to identify tax-deductible investment options, such as advertising.
“The SAT can be seen as a partner in the company, with a voice, as it dictates certain guidelines to follow. However, the business owner is the majority partner, with a voice and a vote, as he decides what to invest in,” explains Tabares.
The accountant also recommends brand value studies, whereby an analysis of the company’s presence and positioning can be used to grow capital.
Giving Personality to the Brand
The second presentation, “The Value of the Brand Through Design,” was presented by marketing and communication specialist Erik Velasco, project manager for marketing agency Nivel Creativo. The talk revolved around branding (or the process of creating a brand), where factors beyond design also come into play, fundamental aspects such as identification of the target market, giving personality to the brand, establishing competitive advantages and added value, among others.
In addition, he explained the key to the success of advertising campaigns: “Advertising in assorted media, everywhere, does not guarantee that people will see it or be attracted to your product or service. A good communication strategy is to send the message you want to the people you want, and that they feel an affinity for what you are marketing. So, design has to do with the DNA of the brand, its personality.”
Where and How to Advertise
Vallarta Lifestyles Media Group marketing expert Dinorah Fonseca followed with her presentation, “Marketing and Communication: The Medium Is the Message,” detailing the various media that make up the range of advertising opportunities available to businesses in Puerto Vallarta and Riviera Nayarit, listing their advantages and offering recommendations for choosing those related to each brand.
She also explained how to calculate the cost per acquisition for each communication channel and recommends investing in advertising in various auditory (radio), visual (printed) and kinesthetic (interactive) media to increase the chances of connecting with the consumer.
Contributing as a Social Entity
The final presentation of the day was “Fiscal Contribution and Society,” led by Dalia Gutiérrez, representative of SEAPAL Vallarta, who spoke about how important it is for each social entity to make improvements to the place they live. Whether it’s through paying taxes, respecting the guidelines of other public organizations or undertaking any other social effort, companies will benefit from their own contributions in the long run.
As an analogy, she relates, “The state functions as the architect, and the government as the engineer, but society plays the really important role in any project.”
To conclude the event, a question and answer period was opened for attendees, presenters and organizers. During this segment, Luis Mendoza, editorial director of Vallarta Lifestyles Media Group, analyzed the impacts of traditional and digital media.