Are you looking to expand your clientele for accounting services?
When a professional decides to leave their work at a firm and establish their own company, they quickly learn that they will need to take on many more responsibilities in their new venture. Sales and marketing are two of the most critical hats an entrepreneur can wear. Even if you have ten years of accounting expertise from a reputable firm and are extremely competent at what you do, it does not guarantee that you will have a full roster of clients on the first day of work (or consider yourself very lucky if you do).
Finding new customers is not hard, and it does not require you to be a salesperson who was born with a natural gift for the job. Finding one's first customers and laying the groundwork for a prosperous accounting practice can be accomplished in a variety of methods, including the use of contemporary marketing techniques based on social media platforms as well as more conventional approaches that emphasize personal interaction.
Are you in a situation where you have no choice but to accept every chance that presents itself out of worry that you won't have enough work? You shouldn't leave the kind of work you undertake up to random chance. Here are five strategies that can help you attract the kind of accounting clients you want to work with and build a truly successful accounting practice.
It would appear that a significant amount of success in growing an accounting profession is dependent on luck and chance. What you do is ultimately determined by the job that is brought to your attention. Despite this, a significant number of accountants are unhappy with their professional lives and believe they are unable to make changes. However, you have the ability to shape your own accounting practice.
The world is undergoing a transition. If you don't work for a huge company that gives you new assignments on a regular basis, you probably need to find new clients to bring into your accounting practice. You didn't get into accounting so you could work in marketing or sales therefore this presents a challenge for you.
Worse, you might know certain individuals who believe that dishonesty and trickery are necessary components of the sales process. They bring disrepute to the field of sales. However, you still require a consistent inflow of new customers.
So, what can you do?
Pick an area to concentrate on
Imagine your perfect practice. What do you hope people will remember you for? What aspect of accounting services do you find to be the most enjoyable and why? It could be a transaction, an industry, a certain clientele profile, or a situation involving a business. Is there a particularly intriguing work that you've done for one customer, and do you think that other clients might have a problem or need that's comparable to it?
You'll be in a better position to start attracting the business you want once you've identified a specialty and figured out who your ideal client is. This will also make it easier for you to turn down work that doesn't meet your standards.
Demonstrate your worth
Before deciding on one brand or vendor to purchase from, the majority of consumers investigate and evaluate a number of available options first. You have to be on that list in order to have a chance of getting picked. You need to be on their radar before they need you.
People who are already in your network can be informed about your particular areas of expertise and professional interests through the process of publishing articles on the Internet. People's ideas of what you can do for them are influenced by the topics that you write about.
Make a powerful message
To persuade people to pay attention to you in this busy and distracting environment, first, condense and then find a technique to make your idea stick in their minds. You may use a visual, a metaphor, an attention-grabbing phrase, shocking data, or a series of steps that the reader can take. Your tone of speech should sound like you, not like it was taken from a textbook.
Be prolific
Ensure that a steady stream of information is produced. Just one article isn't going to cut it. However, you shouldn't waste your time by writing about every possible topic on which you could offer advice. Choose a topic, be consistent with it, and study deeply into it so that you can demonstrate that you understand it.
After you've produced an article, you should make the most of what you've created. Publish it on social media platforms like Twitter and Facebook, as well as on your personal blog.
Create a network for yourself
Your practice will expand at a quicker rate if more individuals are aware of what it is that you offer. Get out there and meet new people by networking, and then be sure to keep in touch with them regularly. Be patient and consistent. Build your profile, and you'll get more queries. You will have the ability to select your customers, rather than having customers imposed upon you.
Choose your target audience
There are nuances and differences between each individual consumer and potential business partner. You can probably classify your existing clients into one of three categories: great, satisfactory, and less than ideal.
Take into consideration the following qualities, all of which are essential to the development of fruitful commercial connections for your company:
- How straightforward is it to work with them?
- What is the entire amount of revenue that they bring in?
- Are you able to collaborate efficiently and productively with them?
- What kind of profits do they make?
- Do they result in a more favourable exposure?
- Do they make connections between you and other fantastic customers?
There could be additional considerations you need to take into account. Before you go out and start pursuing your ideal customers, you need to understand who they are and what they look like. There are times when one must make difficult choices. There is no guarantee that a prospect's financial situation will decide their inclusion on the list. It's possible that you're moving into a new field of specialization. When you establish your reputation in the market, you might be willing to take on clients whose business is less lucrative.
Or, if your company specializes in a particular field, you might be able to command a higher price for its services. It may be a natural and lucrative option for you to go in if you specialize in a certain field and look for new clients in that field.
Collaborate with other knowledgeable and reliable individuals
It's possible that your clients are already collaborating with other businesses for services that you don't offer, such as the ones listed below as some examples:
- legal assistance
- advice on investments
- needs for recruitment
- technology
Even though these are not fields in which your company excels, you still have a responsibility to do all in your power to assist these customers. If at all feasible, provide references for them to contact.
Think about establishing new business partnerships with other recognised specialists or working to reinforce the ones you already have. Alternatively, you may work on strengthening the relationships you already have. Working with experienced legal counsel, financial advisers, technology specialists, and recruiters may be beneficial for your clients. And your own company could benefit from the referrals they provide to others.
Establishing non-competitive ties with other reputable businesses can also be profitable for your company. However, ensure that you are not in direct rivalry with anyone else. For instance, a company with large tax expertise may offer bilateral referrals in conjunction with another firm with significant corporate advisory experience. Alternately, if you are considering shifting the focus of your company, you can consider forming a strategic alliance with a general bookkeeping or payroll business that is less specialized. They might take care of the day-to-day operations while you focus on providing higher-value services when you begin to specialize.
Don't be scared to ask other people for recommendations
It is impossible to find a better salesperson than a customer who is pleased with the product or service that they have purchased. Your clients do not view their relationship with you as an exclusive one because you are one of their providers. They engage in transactions with other companies that range in magnitude and scope, depending on the nature of the deals. Because they have endorsed your company, your reputation will get a boost as a result of this.
You shouldn't take a "wait and see" strategy when it comes to referrals because it won't get you very far. Be the one to start things off. Put in a request to some of your most devoted clients and ask them to spread the word about your business. To acquire endorsements and recommendations, it is essential to make advantage of professional networking platforms such as LinkedIn. Incorporate testimonials from satisfied customers into your website. Some businesses have adopted a referral incentive programme that is more structured than others. As a result of a suggestion, they provide existing customers with exclusive deals and privileges in order to maintain and grow their customer base.
You can increase your revenue by upselling more services to your current customers.
If a customer of yours utilises a rival for a service that your company also offers, you need to explain to them why they should choose your business instead of the other one. One typical tactic for expanding a company's customer base is to market additional products or services to the company's current clientele. Nevertheless, pick your moment, and move at your own pace from there. Make the necessary preparations for an interesting get-together, presentation, or workshop. Think carefully about which online community would serve your needs the best.
In addition to that, don't just talk about your firm all the time. What are some of the other benefits that you are able to offer to your customers that they cannot get anywhere else? These might include the following:
- price or membership advantages
- increased levels of production
- more accurate and dependable data
- better service
- folks with greater intelligence and more life experience.
What happens if the needs of your customers are already being met? Look for ways to serve their spouses, friends, and coworkers with additional services and look for opportunities to do so.
Gain a better understanding of how to network effectively
It's possible to get a lot out of attending networking events, but only if you know how to maximise your time there. Even in this day and age of modern technology, getting together in person with potential consumers offers fantastic opportunity for networking and making contacts. It is still very difficult to beat the effectiveness of face-to-face interaction when it is carried out properly. When it comes to usefulness, business-to-business (B2B) networking events are at their pinnacle for companies that provide services to other companies.
Before attending any events that include networking, it is critical to have a plan all mapped out and ready to go. Before you go, you should learn as much as you can about the other people who will be there by doing as much research as you can. It is possible to receive in advance a list of the individuals who are planning to attend the event. Think about the elements that will entice these prospective clients to conduct business with your firm and how they would like to do it. You should make an effort to speak with influential individuals and keep in touch with them after the event.
Create opportunities by forming partnerships with individuals who share your values
Spending time with people who have hobbies that are similar to your own will allow you to discover possibilities to network with others and share anecdotes in an informal atmosphere. Opportunities to network can be found in abundance at events, organisations, and gatherings that deviate from the norm yet are nonetheless enjoyable.
Do you participate in any pastimes or interests that bring together individuals who are responsible for making significant decisions in business? When you accomplish this, you'll already have a starting point for the discussion you're about to give. These kinds of interactions, whether they take place in a golf club, a cycling club, or a community activity, have the potential to evolve into long-lasting connections with customers.
Look for companies that have the same attitude toward technology as you do
A considerable number of businesses have moved their operations to the cloud over the course of the past few years. It is neither a transitory fad or a buzzword that should be thrown around carelessly. If your company is accustomed to working remotely and if digital engagement with customers is routine for you, then you are already in a strong position to assist other businesses that are comparable to your own. If your company is accustomed to working remotely and if digital engagement with customers is routine for you, then you can help other companies.
When you sell your services to potential clients, you should leverage on your interest in technology by targeting the proper customers. This will allow you to maximise your sales. Invite them to participate in technological and innovative conference events, preferably ones that you will also be attending yourself. Send them links to recent articles and videos that are relevant to the topic and interesting in relation to technology. I would appreciate hearing your feedback on the following companies that provide technology:
- cloud providers
- IT security companies
- businesses and organizations that specialize in web design
- shops specializing in development and integration
- ISPs as well as hosting service providers
- hardware resellers.
Don't send your customers a continuous stream of spam. Less is more. A link that demonstrates your awareness of their world will impress them.
When it comes to unscheduled calls and visits, practice strategic thinking
Making unsolicited phone calls can be highly productive, despite the fact that this practise typically has a terrible reputation. Your perspective, how well you prepare, and how you follow out the plan all have a role in determining the outcome. Gathering as much information as possible about a potential customer before speaking with them over the phone should be considered the most critical step to do before doing so. Before beginning a conversation with someone, you should first do some research to determine who they are, what their role is, and what some of their requirements are. In addition to that, make sure that you pay careful attention to everything. A genuine conversation, as opposed to a sales pitch, is much more likely to result in a beneficial outcome.
Some businesses have specialised salespeople whose job it is to call the key decision-makers within the organisations that have the potential to become clients. These salespeople make phone calls. It's possible that this would be a very effective use of the resources. With the use of this tactic, an unorganised list of prospects can be transformed into cold, medium, and warm leads. Warm prospects have the potential to develop into leads for senior sellers inside your firm once they have passed the qualification process.
You can improve your profile by giving speeches and participating in workshops
Think back to the presentation or panel discussion that was the most helpful to you at any conference or seminar you've ever attended. Who was the speaker at the conference that captivated the audience and caused them to think deeply? There is a considerable risk that the things you have heard or seen will not make an effect on your mind at all. This is an extremely useful piece of apparatus.
There is no rational explanation as to why your organisation should be unable to leave an impression that will remain in people's memories. It is imperative that you make it a priority to participate in the most prestigious conferences at which the necessary people will be present. In addition to that, make the most of the greatest presenters and speakers you have available. Make certain that the presentation is one that will stick in people's minds. One of the most effective ways to convey information is through the use of stories. A story has the potential to be engaging, interesting, and unforgettable if it is told effectively.
Increase the scope of your audience by utilizing content marketing, social media, and blogging
You are going about your day with a mind full of knowledge and information that is incredibly significant to the world of business. Now take into consideration the intelligence that the entirety of your firm holds. That is a really astounding amount of intellectual property that is just sitting there ready to be unearthed and displayed to potential clients or customers.
Making use of your website, other social media platforms, blogs, and other online content tools can assist you in making the most of the opportunities afforded to you as a result of having access to this information.
www.linkedin.com
Maintain an active, inquisitive, and interesting stance - It is not true that having a presence on LinkedIn will immediately produce leads for you following the completion of your profile; this is just not how the system works. However, if you maintain an active, inquisitive, and intriguing stance, you can increase your chances of being discovered by potential customers. On the other hand, if you keep an active, curious, and fascinating demeanour, you will enhance the likelihood that prospective customers will come across you and hire you. It is extremely unlikely that anyone other than those who are actively looking for you or those who wish to sell to you in your job as an accountant would ever view your profile. Those who wish to sell to you in your capacity as an accountant may also visit your profile. This is due to the fact that it might be very challenging to discover someone who is actively looking for another person. If, on the other hand, you continuously contribute content, such as by posting your blog entries or commenting on other threads, you have the potential to build up a steady flow of leads over the course of time. This is something that you can do. There are a few distinct approaches you might take to accomplish this goal. The one and only exception to this rule is, of course, the need that in order for the material that you upload to be effective, it needs to give the audience with some kind of value. Creating a profile on an online marketplace and then aggressively trying to sell items to users you don't know is the worst thing you could possibly do with that profile. This is the worst thing that may possible happen in any given situation.
Inquire about People's Testimonials on LinkedIn
There is a good chance that the potential customer may look up your LinkedIn profile before meeting you for the first time in person. This is because LinkedIn is a professional networking website. This is done to provide them an idea of the kind of service that both your company and you individually offer, so that they can make a decision about whether or not they want to work with you. Displaying testimonials on your website as social proof that you are deserving of a potential customer's company is an excellent way to reassure the potential consumer that they should do business with you. The bigger the number of testimonials, the better; but, even if you only have four or five testimonials on your page, having evaluations that are effusive but genuine is a significant improvement over having none at all. When you ask people who are currently your clients, coworkers, or suppliers for testimonials, you put yourself in a position where there is very little risk involved.
Request to Look at Ratings on Trust Pilot
There are times when the clients you service require nothing more than a friendly nudge in the right direction. There is no reason to feel embarrassed about approaching them with the request to write an internet review of both you and your firm; you have nothing to be embarrassed about. Trust Pilot is an established website that offers user reviews, and potential clients looking for an accountant might want to check it out before making their choice. The greater the number of positive ratings you have on Trust Pilot in compared to the listings of other accountants in the local area, the greater the possibility that a potential client will call or email you before contacting any other accountant.
Google's Opinions on Other Businesses
Have you ever wondered why the accounting business down the street has so many five-star reviews on Google? If so, you're not the only one. Perhaps your firm has been in operation for at least twice as long as theirs has, and you are certain that the quality of the services you offer and the quantity of experience you have to offer, if not more, are superior to those that they have to offer. One simple truth may be used to summarise the entire situation, and that is that they ask their consumers to leave reviews on Google. The conclusion is as follows. Simple. You may, of course, improve the likelihood that the client will submit a particularly ecstatic review by choosing the moment at which you ask for a review from them with care. This will enable you to maximise the possibility that the consumer would provide an especially great review for your product or service. When do you think you will receive the most good feedback from your consumer, and why do you think it will happen? What do you anticipate they would do if you deliver them a tax bill that is a little higher than what they were anticipating during a period in which they have a restricted amount of cash flow? Or when you have uncovered ways for the client to save hundreds of thousands of pounds in tax over the next 10 years as a direct result of the work you have done?
Create your own podcast
Producing your very own podcast may be a thrilling experience. Having said that, you need to consider the person with whom you are interacting. Who exactly are the listeners of the podcast—other accountants or your ideal clients? Change the language to fit the needs of the audience you want to attract. Instead of making each episode a twenty-minute monologue, you might probably bring in some other specialists who can liven things up a bit and add some variety. You may also bring previous customers onto the show to discuss their own companies, in addition to praising the quality of service they had from your accounting company and the value it added to their operations.
Consultations Without Charge
Although the majority of accountants offer free initial consultations as a matter of course, not all of them make it abundantly clear in their marketing material that this is the case. Anything that conveys the message that getting in touch with you as an accountant for the first time does not involve any kind of financial risk in any way has had to be a good thing. Think about it: if the prospect is deciding which of three accountants who are very similar (at least on paper) they will contact first, and only one of the three explicitly mentions that the meeting will not cost them a penny, and all other factors are the same, which accountant do you think the prospect will choose?
Billboard / Bus Stop Advertisement
You don't see too many advertisements for accounting firms posted on enormous billboards or at bus stations, do you? That most likely occurs for a very good cause. Having said that, this is not to say that, in some instances, a strategically positioned display would not be effective (e.g. outside a business exhibition).
Publicise Client Case Studies
How often have you assisted a company's owner in resolving a financial issue they were struggling with? How many times can we count? Probably. Choose three of these real-life examples to illustrate the excellent work you do, and then compose them into a concise case study. You could write a piece for your blog describing each scenario and then link to the case study in your social media updates. Place a link to the case studies in a prominent location on the homepage of your website. Naturally, you need to have the client's consent before you can use them as an example. Also, be sure to send the client a copy of the case study so that they may review and approve it before it is made public.
Once you have a few customers under your belt, you should do everything in your power to give them excellent service and cultivate a cordial relationship with them. This is how you start up momentum and word of mouth among your audience. If you put your focus on assisting others rather than pushing sales, you will be astounded at how simple it is to build wonderful relationships that lead to wonderful possibilities and wonderful clients.