Transforming Client Accounting Blog

As a partner or executive in a small- to mid-sized firm, you may wear many hats, one of which may deal with marketing. But that’s not your specialty or your core business. What you have found out by being a trusted business advisor, is that:

• Your clients want to hear from you and look to you to keep them abreast of current trends and regulations;
• You need to market in order to gain new business; and
• Having a strategic marketing plan is core part of the business development plan.

Bay Street Group LLC and Capstone Marketing released a brief whitepaper, The Seven Keys to Success in CPA Firm Management—New and Exclusive Research into the Habits and Best Practices of Today’s Highly Competitive Tax and Accounting Practice that delved into the critical success factors for today’s accounting firm, including Marketing and Business Development.

Of the 1,400 CPAs who participated, findings concluded that 38% of respondents targeted niches and specialties, and 15% follow a written strategic marketing/business development plan.

“We struggle to grow in a competitive marketplace with lack of a marketing plan and no niche. So we are left to fend for general clients, which are hard to come by as a small player in a big market,” commented one survey respondent, a senior executive at a small-sized CPA firm.

That leaves you asking, how do you market to current and potential clients while continuing to focus on your core business? You may also ask:

• What type of marketing should I do, newsletter, email, brochures, etc.?
• What should I email and to whom?
• How often and how long should it be?
• Who’s going to write it?
• How do I get my firm’s name on it?
• Who will answer any questions it generates?
• Do I have to do this myself?

You don’t have to do it on your own. In June, the AICPA launched a comprehensive Marketing Toolkit to help members promote their practices and services. It contains a host of resources and information to assist in marketing and communications efforts, including:

• The CPA Client Bulletin a popular client-focused monthly newsletter of general business, tax and financial planning tips that you can email or mail to your clients or leave in your reception area.
• Marketing 101 guidance
• Client Satisfaction Surveys
• Successful Selling Tips
• And so much more

Additionally, Bulls-Eye! The Ultimate How-To Marketing and Sales Guide for CPAs, written by thirty-seven of the industry’s most successful marketing and sales minds, offers step-by-step guidance on building compelling, on-target marketing campaigns that delivers powerful results for your firm.  

Whether your firm is in its infancy or is blossoming with growth, you can gain a competitive advantage as a trusted business advisor by leveraging marketing and making it a priority in your business development plan.

Get started today building your reputation as a trusted business adviser and helping to keep your firm top of mind with your clients.