Archive for the ‘Marketing’ Category

Thursday, February 20th, 2020

Lack of Self-Confidence

“Great salespeople are relationship builders who provide value and help their customers win.” – Jeffrey Gitomer

I bet you have heard the classic line: “I didn’t major in accounting so that I could become a salesperson.”

If you are working in public accounting, you must embrace marketing and sales. It is the lifeblood of a growing and successful firm.

Many accountants actually have a fear of attempting to “sell” services to a potential client. I always claim that you can land new clients if you simply like people. It is about connecting to others and building relationships.

Begin by building your own self-confidence. You have SO MUCH valuable knowledge – you are worth every penny a client pays you. You have helped so many clients in the past. Take that air of success with you as you approach potential clients. Tell success stories.

Jeffrey Gitomer (famous sales guru) recommends that you keep the story of “The Little Engine That Could” in mind – “I think I can. I think I can.” He says that thinking you can is 50% of the outcome. Never show doubt or uncertainty – you are a winner and can be such an asset to that potential client’s future success.

  • Attitude drives actions. Actions drives results. Results drive lifestyles.
  • Jim Rohn

Tuesday, February 18th, 2020

Teaching Staff the Secrets of Marketing & Sales

“I recently went to a new doctor and noticed he was located in something called a Professional Building. I felt better right away.” – George Carlin

Are you teaching your young accountants how to become successful as rainmakers? If they want to be on the ownership track, they need to be able to bring in new business to the firm. That’s an overwhelming assignment for new hires.

The journey begins in their first week by having new recruits meet with your marketing director as part of orientation. The MD will simply explain how it all works and share all the tools the firm has available to help them succeed.

No expectations are set (that happens later down the road) except that the beginner CPA needs to be visible and attend business, civic and charitable events along with a more experienced CPA.

A helpful exercise is to host a lunch and learn where two or three of the firm’s best business developer partners participate in a panel discussion about how they became successful at attracting new clients to the firm. Each partner will have a slightly different success story and the entire staff is invited to the lunch and learn to listen and ask questions.

Never let marketing/sales be a surprise to your team members. Make it part of your culture and provide the tools necessary to help them succeed.

  • Nine tenths of education is encouragement.
  • Anatole France

Monday, February 3rd, 2020

Make Your Clients Say Wow

“Don’t be yourself – be someone nicer.” – Mignon McLaughlin

When was the last time you did something to show your most valued clients and lucrative prospects that you are thinking about them?

What about doing something for your team members during the next few stressful months?

How about sending them some green bagels on St. Patrick’s Day (I know a local law firm that did this every year)? Deliver a pumpkin pie just before Thanksgiving. It could be something as small as some of your promo items – pens, post-it notes, notepads, coffee mugs or candy with the firm logo.

For your team, it could be a thank-you note to their family for being so understanding during tax season. A handwritten thank-you note to the team member when they have gone above and beyond. It could also be new coffee mugs, portfolios, logo shirts or candy sent to their home on their birthday.

fullsizeoutput_45bdThis came to mind because I received a promo package from OnPay, an online payroll processing service last week. It contained a small box of candy, a nice coffee mug, lip balm, and some great coffee. I was thrilled and it did cause me to write this blog post.

What can you “cause” your clients and team members to do by just being thoughtful?

  • I always prefer to believe the best of everybody, it saves so much trouble.
  • Rudyard Kipling

Wednesday, January 29th, 2020

Old School

“There’s definitely an old school element to my music, but I also think it’s modern.” – Lenny Kravitz

How is your firm viewed by clients and prospects?

Progressive, innovative, passionate and future-focused or “old school”?

Many firms still have partners, in their 60s or older, who have been long-time rainmakers still out there being the “face of the firm.” Young partners, managers, and staff are often completely happy letting them do it.

The word on the street becomes, “they’re old school.”

Even in the age of online visibility and branding, the importance of being heard and seen in your local business community is still very important for most accounting firms. Educate your entire team about being “on stage” and representing the firm not only during business hours but after hours, too.

Older rainmakers, it is your duty to replace yourself. ALWAYS take a younger person along when you are out and about. Younger, less experienced CPAs – it’s your responsibility to ask them to take you along.

  • I don't exactly know what I mean by that, but I mean it.
  • J. D. Salinger, The Catcher in the Rye

Thursday, January 16th, 2020

Rainmakers Retiring

“What differentiates sellers today is their ability to bring fresh ideas.” – Jill Konrath

In many CPA firms, the most successful rainmakers are still in the baby boomer category. Yet, as we all know, baby boomers are retiring at the rate of 10,000 per day.

Who will replace your top rainmaker(s)? This is a valid concern in many accounting firms. But, times are changing and so is the role of the CPA firm rainmaker.

In an informative article via Accounting Today, written by Lee Frederiksen, he notes that the rainmaker model is beginning to dry up!

Attracting new clients used to be based on the personalities of certain partners. These partners were out and about in the business community and made contacts that led to new business.

Now, a prospective client has checked out the firm, it’s leaders and the services they provide before anyone at the firm has actually met them. Future clients are searching for the firm with the right expertise to solve their specific business challenges. Hopefully, your firm possesses the services and expertise they are looking for and they can find it on your website.

Be sure to read the entire article.

  • The way to get started is to quit talking and begin doing.
  • Walt Disney

Monday, January 13th, 2020

Keeping Your Clients Informed

“Absence of evidence is not evidence of absence.” – Carl Sagan

Recently, I wrote about doing unexpected and helpful things for your clients. I am always surprised by the number of CPAs I talk to who do not send a newsletter to their clients. I always think of that old saying, “out of sight, out of mind.” It applies to CPAs.

Use your newsletter software to also send important reminders to your clients. These reminders are certainly unexpected and helpful.

Here’s a great example from Snyder & Company in Lancaster, Ohio that I received last week:

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  • Friendship, like love, is destroyed by long absence, though it may be increased by short intermissions.
  • Samuel Johnson

Tuesday, December 17th, 2019

Listen to Learn What Clients Need

“If people believe they share values with a company, they will stay loyal to the brand.” – Howard Schultz

We have heard it over and over again from speakers at conferences and read it over and over again in CPA marketing publications. It is seven times easier to sell services to current clients than it is to obtain a brand new client. Client loyalty is priceless.

As with many activities inside a firm, you need a system, a process, a questionnaire or a checklist. You need some type of tool to help your accountants actually explore the future needs of current clients.

Some firms call it the Additional Services Checklist.  Others may call it The Expanded Services Questionnaire or The Enhanced Opportunity Checklist.  No matter what you name it, it is a sales tool that your team can use to find out how the firm can truly better and fully serve your clients. Once they have the checklist/questionnaire, they can simply listen more intently when they are talking with a client or working in the client’s office.

The goal is to bring extra value to your clients.  CPAs call it value-added as if their normal services don’t have much value. In these changing times, compliance services are looked upon as only a way to discover advisory services that the client needs.

Do all of your team members, even the most recent college recruits:

  • Know what to look and listen for while they are at the client’s location?
  • Been educated/informed about all of the firm’s service offerings?
  • Know what to do if they recognize an opportunity and who to refer it to inside your firm?

If you answered “no” to any of these, take action.  Host a lunch & learn in early January and talk about all the value-added services your firm offers. Provide the entire team, including the admin team, with a listing of questions/items to apply to the clients and give them the name of the partner to seek out for guidance if they identify an area where your firm can bring more value to the client.  Just having this simple questionnaire or checklist seems to give everyone more confidence.

During the lunch and learn, experienced partners and managers can speak-up and give practical advice to the less-experienced team members.

  • Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.
  • Steve Jobs

Monday, September 30th, 2019

CPA Firm Marketing

“Marketing is telling the world you’re a rock star. Content Marketing is showing the world you are one.” – Robert Rose

There continues to be a lot of questions from practitioners about marketing – activities, budgets, staffing, etc.

Of course, a big percent of your marketing budget is devoted to salaries. More and more firms are devoting more time and money to online marketing while still continuing much of the traditional methods… sponsorships, etc.

Once again, the Association for Accounting Marketing (AAM) partnered with the Hinge Research Institute to conduct the bi-annual Marketing Budget Benchmark Study. The purpose of this study was to provide marketing professionals, firm leaders and business developers with the insights needed to determine whether their efforts are effective – especially when compared to the marketing efforts of firms that may be similar in size or with regard to a chosen marketplace.

You can download a summary or the full report here.

  • Don’t settle: Don’t finish crappy books. If you don’t like the menu, leave the restaurant. If you’re not on the right path, get off it.
  • Chris Brogan

Thursday, August 29th, 2019

Be Proactive – Show Your Clients You Care

“Appreciation is a wonderful thing. It makes what is excellent in others belong to us as well.” – Voltaire

Client surveys tell us that they wish their CPA was more proactive. What kind of Action Plan do you have in place to continually communicate with clients?

These actions fall under the “this is how we do it here” category. Teach your staff how to do it.

  • We take new hires along to client meetings.
  • We expect every person in the firm to have a role in marketing.
  • We provide continual performance feedback to our employees.
  • We close the office on Fridays in the summer.
  • We acknowledge every team members birthday.
  • We have a client service plan for “A” clients and a different one for “B” clients.
  • We send our clients a birthday card.
  • We thank our clients in different ways for simply trusting us as their financial and business advisor.

Should any of these “this is how we do it here” bullets apply to your firm? What else can you add?

 

  • As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.
  • John F. Kennedy

Friday, July 19th, 2019

Flashback Friday – Client Service is Your Best Marketing

“If you are doing what everyone else is doing, if you are inside the band of common, then it’s not an approach that will move you forward.”  – Seth Godin

What is your firm known for? Accuracy, understanding, caring, knowledge, maybe expensive?

Has anyone said that you have the best client service? Read more here.

Happy Friday – I hope you enjoy a wonderful summer weekend!

 

  • There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.
  • Sam Walton