Most United kingdom companies have found things tough currently, as the financial disaster of 2008 has left many companies struggling, accountancy firms are one business group that have not really been affected. The issue that many accountants find is the fact that businesses very rarely swap or change accountants, so getting new clients is hard work. Businesses may change a website designer, or delivery firm, but changing accountants is not something that is normal practice.
Finding New Customers. Most accountants prefer to have large or medium sized clients (as opposed to new companies, startups or sole traders) as the annual fees are higher; however as many businesses tend not to chop and change accountants, lead generation is hard. It is quite much a case of taking whatever you can get as opposed to picking and choosing clients; which for most accountants is frustrating.
Prospecting for brand new company is hard work; different to numerous types of sales whereby a target is identified and approached; with accountancy this can be different, clients come to you, not the normal sales process. As a result the sales process a unique and specialist the one that needs a unique breed of marketing zest.
Sales Process For Accounts. Rather than the traditional kind of marketing approach, reactive CPA Marketing works better for accountancy businesses.
Reactive marketing would be conducted by allowing as many businesses know you might be there, in order that as and when a chance comes up, they will likely think about you. This may be performed by advertising, sponsoring business events or by direct marketing to every business. Direct marketing is going to be difficult (telemarketing, e-marketing, mailing) as response would depend greatly on the need (catching someone on the right time). Reactive marketing might be internet advertising or having a website that appears high for relevant search terms that incoming enquiries are readily available.
Networking is popular with most accountants as much businesses do tend to ask family for recommendations. Breakfast meetings, online networking forums are used by lots of accountants for this particular very reason and do manage to work quite well.
You will find specialist agencies that offer marketing for accountants and do have an expert knowledge on how to help to both develop a logo and also help to generate new clients.
Selecting The Right Marketing Specialist. Since the marketing and sales process for accountancy businesses and bookkeepers is certainly an expert and different one, care must be taken in choosing the right marketing company. For this reason, selecting the one that has worked with businesses within the sector before, that understands the sales process and has a reputation producing results.
Clearly attracting new customers and hanging on to the existing clientele would be the lifeblood of the healthy business. A number of the article’s commentary is intriguing and a jumping off point for that conversation. A fundamental analysis of any firm’s “positives” and “negatives”, both internally and externally, can reveal opportunities for growth and retention in any industry, even Accounting:
Strength – The facts that your particular firm does that is different from your competitors?
Weakness – How does your client base rate your services on a scale of 1 to 10? If not a 10, what exactly is it that your particular firm must push the final results to a 10?
Opportunities – Exactly what is the industry trends for marketing, information technology and client services?
Threats – Who definitely are the competition? The facts that your particular competitor does that differs from your competitors?
This can be a SWOT analysis and one of many critical first steps in developing a marketing plan. While CPA firms understand their business, it takes a specialist marketer to comprehend the proven tactics and finest practices to usher in new clients and retain existing clients. They are two different professional disciplines; as the CPAs of your firm work in your business, careful thought needs to be given to hiring and designating an advertising and marketing pro to meet your goals for revenue growth and profitability. From there, attracting and retaining qualified candidates (#9 on the survey list) to support the business growth can additionally be addressed with rmgaux integrated marketing program.
One of many challenges of marketing for accountants would be to redirect their thinking from considering marketing as an investment not a line item expense. Think about the return on Dentistry Marketing and also the timeless words of the widely influential business thinker, Peter Drucker: “Business has only two functions – marketing and innovation.” If your accounting firm or professional practice needs innovation and marketing to enhance the growth of your services, look away from accounting profession and consult for marketing expertise.