A well-thought, well-researched marketing strategy is important when it comes to the growth of an accounting practice. We live in a time and age where you, a CPA, can start running a business by hanging a name-plate on your door. However, as a new entrepreneur and because of intense competition, you should strive to generate buzz around who you are, what your business’ offerings are, and how your clients can benefit from your services.
Clients know that the market is huge and they can always consider other options more favorable to them in terms of pricing, location, security, services, and more. Therefore, if you want your accounting firm to grow at a fast pace, you must follow these five rules.
Rule 1. Market Research
It is important for you to be good at your job, but if your potential clients don’t know what more you can do for them like filing tax returns, managing payroll, and real estate management, to name a few, then you are missing out.
Make sure you have chalked out the list of services you are ready to offer. Don’t invest resources in a service which is not high in demand among the target clients. Once clients understand all of the services you can offer they will be interested in keeping your around which will be a beneficial relationship.
Rule 2. Website Presence
Give me the name of one accounting practice that does not have a website. Think. Found a name? I am sure you didn’t. Today even the smallest of firms have web presence – comprising of just a single page. But you know what, it matters.
A website adds credibility to your business and allows interested clients to get information about you and your team on a single platform. The best part is, starting a website has never been easier or cheaper. You can simply build your own website through several online services and pay a low monthly payment to keep the domain active.
Rule 3. Social Media
Whether it is Twitter, Facebook, or LinkedIn, take to the social media channels to market your business and your services. Connect with potential clients, post articles about current tax issues and how changes in the law will affect your clients, and let potential clients ask you tax/accounting questions, for free!
Rule 4. Events
Hosting or attending different events, such as networking or educational events, will help you build business. These events are excellent for creating business connections and finding potential clients. Network. Socialize. Promote. Events are a lot of fun and extremely educational if you choose the right ones. If you have a small budget, however, then be selective about the events you choose.
Rule 5. Employee Amplification
In every firm, the employees have some role in marketing. A receptionist, auditor, clerk, or even senior manager – everyone in the firm is a marketer in themselves. For example, the way a receptionist (or anyone really) handles incoming calls (which could be the first contact your firm has with a potential client) is of utmost importance. If the person calling has a bad experience, it is doubtful that they will bring their business to you.
It’s in Your Hands
Marketing is an ever-evolving function in a business and it is crucial for new firms to grow. What other marketing tactics have you applied in your practice?