Archive for the ‘Marketing’ Category

Friday, January 15th, 2021

Adding New Clients – Flashback Friday

“Quality is much better than quantity. One home run is much better than two doubles.” – Steve Jobs

Adding new clients is always a challenge for CPA firms. However, some firms have a marketing machine, visible rainmakers, and obtaining new clients isn’t their biggest issue.

The challenge is being able to provide awesome client service to the rapidly growing client base.

Here’s a flashback post to help you with that challenge.

  • Hard work spotlights the character of people: some turn up their sleeves, some turn up their noses, and some don't turn up at all.
  • Sam Ewing

Wednesday, November 18th, 2020

More Important Than Ever

“You never get a second chance to make a first impression.” – Will Rogers

Websites are on my mind today. When comes to promoting your firm, yourself, and your people, your website is more important than ever.

As you might guess, I constantly look at CPA firm websites. If you ever send me an email or if your firm is ever in the news, you can bet I will be perusing your website.

There are still a significant number of firms that have not taken action on updating their website. It appears that it has been the same for the last ten or fifteen years. You can tell immediately when you hit their site. When I ‘hit’ one, it makes me sad.

In these times of no meeting and greeting potential clients in person, the only impression they get of you is from your website. Someone should be managing your website daily. You need current articles and high-quality pictures of your partners and other leaders. Your site needs to give the impression that you are modern, future-focused, and extremely knowledgeable. If your website says (without using words) that you are an “old school” firm, you are in trouble.

For progressive firms, a significant number of new clients come to the firm because of their website. How many are coming to your firm because they simply looked at your website and were impressed?

  • You only get one chance to make a good first impression, and yours may be in the hands of the receptionist.
  • Harvey Mackay

Wednesday, November 4th, 2020

Bringing In Business

“Business opportunities are like buses, there’s always another one coming.” – Sir Richard Branson

For years now, firm leaders have been worrying about what happens when the firm’s best rainmakers retire. Often, firms have depended on one major rainmaker. The ones worrying the most are the partners who have not been rainmakers themselves.

The fact is, the baby boomer rainmakers are retiring now, on a regular basis.

To complicate the situation, how can an experienced business development partner “take along” a young person when talking with clients, attorneys, and/or bankers during COVID? I have always advised experienced partners to take a young person along. Times have changed.

Are your partners involving younger accountants in Zoom meetings with clients and others?

Let the client see the face of the person who will actually be doing the work associated with their engagement. Make that next video (or conference) call your client a 3-way or 4-way meeting.

If you are a partner or manager and about to make a quick video call to a client, stop and think! Who else should be seen by your client? Young people learn by example and now being an example involves a little more thought and effort than it has in past years.

  • You only have to do a few things right in our life so long as you don't do too many things wrong.
  • Warren Buffett

Wednesday, October 21st, 2020

Being Visible

“The power of visibility can never be underestimated.” – Margaret Cho

I have written often about the importance of branding and how being visible helps build your firm brand and it is also how you build your personal brand.

Here is a link that will take you to a search I did on my blog for stories about brands and rebranding. You might want to read some of them.

This year has been a difficult year for branding and personal visibility. You haven’t attended Rotary meetings, you haven’t seen many clients face-to-face even though some of you are lifting the “no clients in the office ban.”

Many of you have done a great job of keeping your clients informed, especially on the PPP topic.

For your firm: Keep sending all clients informational emails and doing timely blog posts about current issues. They count on you for this information.

For your personal branding: Tell stories on your firm Facebook page about various partners and other team members. Send more personal, individual emails to your assigned clients (whether you are a partner or a staff person working on a client’s engagement).

Share your personal Facebook page with some clients (if you are sure it is appropriate). They just might be interested in what you are doing with your life during these unique times.

Do more than just use the phone – let your clients talk to you often via Zoom, Skype other video channels.

Being visible is a great way to build your brand. Visible is just different for the time being.

  • Out of sight, out of mind. The absent are always in the wrong."
  • Thomas a Kempis

Thursday, June 25th, 2020

Purpose

“A business enterprise has two basic functions: marketing and innovation.” – Peter F. Drucker

Peter F. Drucker’s view on the purpose of a business is something you should consider. I want to share it with you today:

If we want to know what a business is, we have to start with its purpose. And the purpose must lie outside the business itself. In fact, it must lie in society, since a business enterprise is an organ of society. There is only one valid definition of business purpose: to create a customer. The customer is the foundation of a business and keeps it in existence. He alone gives employment. And it is to supply the customer that society entrusts wealth-producing resources to the business enterprise.

Because it is the purpose to create a customer, any business enterprise has two – and only two – basic functions: marketing and innovation. These are the entrepreneurial functions. Marketing is the distinguishing, the unique function of Business.

Do all of your people know the purpose of your business (firm)?

  • Find out what needs your customers want fulfilled today. Determine how well your products are meeting the needs of your customers.
  • Peter F. Drucker

Thursday, May 21st, 2020

Are You Also Responsible for Marketing?

“Business has only two functions – marketing and innovation.” – – Milan Kundera

Many firm administrators and managing partners are also charged with the role of Marketing Director. The vast majority of CPA firms are not of the size to support a full-time Marketing Director. If your firm is large enough, I am sure your Marketing Director is one of the busiest people in your firm.

Whether you are a smaller firm or larger firm, it takes discipline to effectively market your practice and reinforce your brand. A few years ago we thought Fall was marketing season for CPA firms. Today, it is a 24/7/365 activity.

Go through some simple exercises with all partners and managers:

  • Gather information about your firm’s uniqueness in your market. Identify any weaknesses and focus on strengths.
  • Make a list of each CPA and each community or charitable organization where they are active. Are there, key, high profile organizations where your firm is absent?
  • Have each CPA list their referral sources (bankers, attorneys, etc.) and identify the referrals they have given you in the last year. Are you referring more their way than they are your way? Are there some of the same referral sources on everyone’s list and some powerful ones that are missing altogether?
  • Have each CPA (no matter what their title) create a marketing action plan and report each month on their activities.
  • Hold pipeline meetings at least monthly.

Don’t let summer (or a pandemic) cause a lapse in vigorous attention to marketing activities. See my post from yesterday!

The Association for Accounting Marketing‘s annual conference has been canceled this year but you or your marketing director should put next year’s conference on your calendar. Here’s the message on their website:

We regret to announce the cancelation of our 2020 Summit due to the current projections of the coronavirus pandemic. We will hold our next Summit at the Loews Hotel in Philadelphia, May 24-27, 2021. We will announce when registration opens for 2021.

  • Content is fire, social media is gasoline.
  • Jay Baer

Wednesday, May 20th, 2020

Rebranding

“You must learn a new way to think before you can master a new way to be.” – Marianne Williamson

It was in the news last week. Maybe you read about it. Rehmann, a large Michigan based firm and one I have known and admired for years, even before they were a “large” firm, has rebranded and released a 30-second video as part of the brand launch.

Has your firm taken the time to think about the new opportunities you have during this troubling time? Are you making your clients aware of how perfectly placed your firm is to help them through the challenges that they are now experiencing? Do you have prospects that are beginning to realize they need a more progressive firm?

Maybe some rebranding would show your clients and prospects that you are right there beside them during this challenging time.

I loved the Rehmann video. Check it out here.

  • The first step towards getting somewhere is to decide that you are not going to stay where you are.
  • J. Pierpont Morgan

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