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 just start running a business by hanging a name-plate on his office door.
As a new entrepreneur, you should strive to generate buzz around who you are, what are your business’ offerings and how your clients can benefit. But why? Because of the intensive competition!
Clients know that the market is huge and they can always consider more 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, keep in mind these five rules of marketing:
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 what’s the point.
Once clients understand how much tax you can save for them and how well you can manage low-grade jobs like payroll and bookkeeping on their behalf, they will be interested to give you a chance or at least s contributed in their growth can give them satisfaction.
Therefore, make sure you have chalked out the list of services you are ready to offer. Do a proper market research for the same. Don’t invest resources in a service which is not high in demand among the target clients.
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 just a single page-website. 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. Have you invested in a website yet? Nope? Then, you must.
Rule #3 – social media
Be it Twitter, Facebook or LinkedIn – take to the social media channels to market your business and your services. Connect with potential clients. It is not necessary that you engage them in a conversation to sell your business. You can even have a simple chat and slowly build a relationship with them – which may lead to a solid partnership.
Rule #4 – events
Of course! Hit the events. Network. Socialize. Promote. Events are a lot of fun and extremely educational if you choose the right ones. If you have a small budget, then be selective about the events you choose. Talking to people is the best kind of marketing.
Rule #5 – employee amplification
In every firm, the employees also have some role in marketing. From a receptionist to the auditor or a clerk to the senior manager - everyone in the firm is a marketer in himself. For example, a lot says about a company in the way a receptionist handles incoming calls.
A clerk can also be helpful by providing services to the clients. Any person in the firm has a task in which he or she can take care of the marketing aspect.
Over to you
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?