10 Free Steps (Plus a Bonus Tip) To Improve Your Accounting Firm’s Marketing Efforts

Marketing usually doesn’t rank too highly on the list of preferred tasks for principals of small and medium-sized accounting firms. Referrals have traditionally been thought of an accounting firm’s marketing bread and butter, but how to allocate marketing efforts to generate high-quality referrals is notoriously hard to figure out. But marketing for the small and medium-sized accounting firm doesn’t have to be overly complicated: Here are 10 simple, free steps you can take to transform your accounting firm’s approach to marketing:

1. Monitor your referral sources and organize your leads. If you keep track of where your best business comes from, you know how to invest your time in the future. Organize your referral contacts. Assign each a priority, high, medium, and low, then formulate a communications strategy for each group.

2. Never assume clients are happy. Delighted clients are your most important source of referrals. Survey your client base to identify those who are merely ‘satisfied,’ then look for opportunities to convert them into fans. While you are at it, review everything your client sees, hears or touches. Is your reception area pleasant and welcoming? How about your receptionist? When a client calls, are they likely to connect with a real person or do you make all callers wade through your voice-mail? Are your letters well-written and easy to read? Are your staff skilled communicators who appreciate the importance of building enduring client relationships?

3. Get to know your clients’ vendors and professional service providers. These potential referral sources are unlikely to be familiar with you and your firm, but they should be. By getting to know your clients’ vendors and service providers you establish a referral source, cement client relations, and enhance your image and reputation.

4. Focus on your clients’ profits (not your own). The best way to win the network marketing game is to be the best at what you do and doing it. Clients will be eager to refer you if they see the value of you services provide them and if you are able to help them grow their businesses. There is a limit to the demand for tax return preparation, services and audits. There is also, however, an unlimited demand for accountants and consultants who can help clients improve net profits! If you are still focusing on increasing your chargeable hours, charge rates, or net fees, it’s time to reorient your thinking. It’s not about increasing your billable hours, it’s about increasing the value and range of the services you provide!

5. Develop a marketing plan. Most accounting firm partners and managers have only 100-300 hours a year to devote to marketing. Why not organize this time the same way you would a 300-hour client engagement? Focus on your desired outcomes, actions, steps, money, time, and a budget.

6. Talk about Value, not Fees! When meeting prospects, focus on the value you offer, and on what makes you different from (and better than) your competitors. If the client agrees to the service, and if your terms are fair, you can assume the close. Fee terms should seem like an afterthought to the client.

7. Get to know your clients’ teams. Before the tax season starts, meet the financial teams of your ten best clients. These are valuable contacts. Build a great team for your client and you will build a great team for yourself too.

8. See tax season as a marketing opportunity: Clients are never more interested in help with their business than when confronted with last year’s financial results and this year’s tax liability. Plan now to cross-sell to every client you meet during the season. Capitalize on this effort. Use press releases, articles, and mailings, and face-to-face meetings.

9. Learn to ask better questions and listen to the answers. Asking the right questions is the foundation of being an effective adviser. Clients don’t know what they need, only what they want. Listen between the lines. You are remiss in your duty as an accountant if you can’t sell a client on a service he really needs. Identify what your clients’ needs are and deploy your knowledge and expertise to help your them meet those needs. Ultimately this will benefit both you and your client and is the foundation for a mutually beneficial relationship.

10. Tomorrow is more important than yesterday. Your clients are more worried about today and tomorrow than they are about yesterday (which is the traditional province of the accountant). You can really help most of your clients by helping them use financial statements as a cornerstone for making better business decisions.

Bonus tip: Update your firm’s website regularly, and make your site a useful resource for both prospective and current clients. Clearly-written and well-developed website content can answer preliminary questions and help focus your conversations with clients on your firm’s more value-added services and on their specific needs.

There you have it  – 10 steps (and a bonus) that can simplify marketing for your accounting firm.

About The Author

Brian O’Connell builds CPA Websites for accounting firms throughout the United States. Please take a look at our growing list of CPA Website Designs to get design and content ideas for your own website.

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Author: Brian L. O’Connell
Article Source: EzineArticles.com
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