No matter the industry, honing your marketing techniques is vital. Creating a successful accounting practice is no exception. Differentiating your firm from industry competition and creating your own niche within the field—and understanding how to market these facets—is integral to profitability. The following marketing techniques can help revitalize your accounting firm’s growth.
Developing Your Marketing Plan
The first step in any marketing revamp is creating a detailed business plan. This will help you develop your services, consider your budget, and determine the ways you can best reach your target audience.
You’ll need to assess your desired demographic; are you looking to work strictly with small businesses? Perhaps you’re interested in helping young professionals navigating their first few tax seasons. You’ll need to establish specific criteria; this will help you better plan out the services and marketing requirements to attract this subset of the population.
Create a Niche
Want something great to market? Ensure your practice is valuable by providing services that not every CPA offers. This could mean investing in your current staff; do you have someone on your roster who’s expressed an interest in financial analysis or hedge fund practice? Offer to pay for the study resources and CFA exam prep needed to pass the rigorous exam, then advertise the added services you can provide to clients when marketing your firm. You may decide to hire a professional that already has experience in one of these areas, but keep in mind that these individuals come with a much higher price tag.
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Take Advantage of Referrals
One of the best ways to get new business is through referrals, which can minimize time and money spent marketing efforts. Make a referral plan for any existing clients, and offer discounts for any referral that comes through your door. Don’t be passive when it comes to attracting new customers; providing a bit of incentive for your current roster can see huge gains in profitability.
Lead-Capturing Website
You cannot forgo a website; a majority of your clients are online for the bulk of their days, and you’ll be missing out on essential referrals and leads if you choose to put off creating a solid site for your firm.
Use strategic design tips to create your own website and better draw in clients. Keep your site clean and easy to read with plenty of white space, and use text and high-quality imagery strategically. Offer easy-to-find contact information and utilize drop down guides to make it easy for prospective and current clients to find the information they seek.
Aesthetics are important, but so is providing useful content. With that in mind, start a blog that provides useful information for your clients, and update it regularly. This will help you establish your firm as a trusted, reputable source and establish your company name as a trusted industry leader in your area.
Networking is Essential
Regardless of industry, you are who you know. Fostering relationships pays off in the long run, and getting your name out there within your field can benefit your company long-term. Take advantage of local mixers, keep up with industry news, and encourage your employees to attend compliance seminars, conventions, and every other meet-up that might be available.
Don’t Shirk Social Media
You might not think social media is the most qualified approach for marketing your accounting firm, but you’d be missing out on lucrative leads by forgoing this profitable strategy.
Social media platforms are an integral component of corporate marketing schemes and can be used in conjunction with your website. Posting unique, informative content on your blog and sharing it across multiple channels can immediately grow your following and help you build a relationship with existing customers.
As you begin, share ideas from other industry professionals, ask your employees and their social networks to follow you to better bolster your following, and make sure to interact with industry leaders to encourage more exposure.
Marketing your accounting firm is vital for success. Keep these strategies in mind and differentiate your practice from the competition to draw in more clients and retain them.