Marketing is a state of mind.

‘Marketing’ used to be a dirty word in the accounting world, but that’s not true any more. Forget your instinctive associations with telemarketing and expensive advertising. Successfully marketing and growing your accounting firm is about developing the right attitude towards your clients, prospective clients and referral sources.

Accounting firms operate in an increasingly competitive marketplace. Gone are the days when ‘marketing’ meant a plaque on the door and perhaps a Yellow Pages ad. Now even small sole practitioners are setting up organized marketing campaigns, and extravagant CPA website design is a virtual requirement for success.

But before you hire a marketing guru like myself and you need to open your wallet, there are some simple, cost-free steps you can take to transform your approach to growing your practice. This will benefit you in the short run by improving your marketing mindset and in the long run, when you really do need my help, it will make my job a lot easier.

Here’s my top ten:

1. Monitor your referral sources and organize your leads.
   If you keep track of where your best business comes from you know how to invest your time in the future. Organize your referral contacts. Assign each a priority, high, medium, and low,  then formulate a communications strategy for each group.
2. Never assume your clients are happy.
   Delighted clients are your most important source of referrals. Survey your client base to identify those who are merely ‘satisfied,’ then look for opportunities to convert them into fans. While you are at it, review everything your client sees, hears or touches. Is your reception area nice? How about your receptionist? When a client calls, are they likely to get a real person or do you make eveyone wade through your voice-mail? Are your accounts covers ? Are letters well-written and easy to read? Are your staff skilled communicators?
3. Get to know your clients vendors and professional service providers.
   These referral sources very likely don’t know you and your firm, but they should. By getting to know your clients vendors and service providers you establish a referral source, cement client relations, and enhance your image and reputation.
4. Focus on your client’s profits (not your own).
   OK, a lot of my colleagues will vehemently disagree with me on this one, but I sincerely believe that the best way to win the network marketing game is to be the best at what you do and doing it. Nobody is going to refer you if they feel gouged. There is a limit to the demand for tax return preparation, services and audits. There is also, however, an unlimited demand for accountants and consultants who can help clients improve net profits! If you are still focusing on increasing your chargeable hours, charge rates, or net fees, it’s time to reorient your thinking. It’s not about increasing your billable hours, it’s about increasing your services to the clients!
5. Develop a marketing plan.
   Most partners and managers have only 100-300 hours a year to devote to marketing. Why not organize this time the same way you would a 300-hour client engagement? Focus on your desired outcomes, actions, steps, money, time, and a budget.
6. Talk about Value, not Fees!
   When meeting prospects, focus on the value you offer, and on what makes you different from (and better than) your competitors. If the client agrees to the service, and if your terms are fair, you can assume the close. Fee terms should seem like an afterthought to the client.
7. Get to know your clients’ team.
   Before the tax season starts, meet the financial teams of your ten best clients. These are valuable contacts. Build a great team for your client and you will build a great team for yourself too.
8. Don’t hibernate the tax season away.
   Clients are never more interested in help with their business than when confronted with last year’s financial results and this year’s tax liability. Plan now to cross-sell to every client you meet during the season. Capitalize on this effort. Use press releases, articles, and mailings.
9. Learn to ask better questions and listen to the answers.
   Asking the right questions is the foundation of being an effective adviser.  The client doesn’t know what he needs, he only knows what he wants. Listen between the lines. You are failing in your duty as an accountant if you can’t sell a client on a service he really needs. Identify what your clients’ needs are and use what you know to help your them meet those needs. Ultimately this will benefit both you and your client.
10. Tomorrow is more important than yesterday.
    Your clients are more worried about  today and tomorrow than they are about yesterday (which is the traditional province of the accountant). You can really help most of your clients by helping them use financial statements as a cornerstone for making better business decisions.

Marketing is not a dirty word, and neither it’s not black magic. If you want to succeed in today’s market you need to change your attitude about marketing. Clients and referrals can have remarkable results in maintaining and winning business – and you can do it for less than the cost of a plaque and a Yellow Pages ad.

Kenny Marshall
Marketing Consultant specialized in CPA Website Design