It is more essential than ever for accounting firms to better control their brand and ensure they are driving and conveying the value that they think is best for their clients. The first step in this process is defining your brand.
Take the Time to Define Your Brand
It is crucial that you first define your brand since this sets the tone for the rest of the exercise. As a brand, knowing who you are and what your mission and vision allow you to more clearly understand who will become your clients, why that’s your target, and what you can offer them.
When you define your brand, the first step is stating what your mission is; this is a clear statement that lets your customers know exactly what you are trying to accomplish. This part of the exercise provides you with a point of reference to return to throughout the process of developing a marketing plan for your firm.
Create a Target Audience
The next step after defining your mission and understanding what your firm seeks to provide is determining your target client. You can formulate the best marketing plan for a specific target audience when you know who it is.
Knowing what your clientele wants will enable you to target the kind of marketing offers that will most likely attract them, allowing you to get the best results from your marketing efforts. By implementing an inbound strategy of getting people to come to you, you will reduce the amount of work you have to do to gain clients and will have more time to pursue the key accounts you’ve identified.
Embrace Digital and Traditional Marketing
You should be present on social media and have a website as a foundation, but that’s only the beginning when it comes to creating marketing campaigns that will generate additional leads and find more prospects for your services. It’s essential to meet them where they are.
Getting the best results from marketing channels requires a diverse set of operations going on at once. Based on the demographics of your potential clients, you need to invest in the various areas you know will be successful. That said, it’s also a good idea not to isolate specific channels to avoid losing potential business.
Set Realistic Goals and Watch The Right KPIs
Key Performance Indicators are the criteria through which progress is measured. The success of any business depends on them because they influence subsequent decision-making and help to keep the focus on what is most important. As your company grows or undergoes changes, KPIs may also need to be changed.
Here are some effective KPIs to use for newly established value-added accounting firms:
- Client Retention Rate and Churn Rate
- Net Promoter Score
- Return on Marketing Investment
- Percentage of Clients with Recurring Revenues vs. Transactional Sales
- Conversion Rate
The above are just a few examples of metrics you can track to understand the performance of your marketing efforts. By understanding what’s working and what’s not, you’ll be able to develop a seamless marketing system.
Accountants and bookkeepers face particular marketing challenges. It is important to remember that while you provide financial services, you are also providing a relationship.
Building long-term relationships with your clients, you are able to provide them with the advice and insights that enable them to succeed. In order to showcase your brand and attract the most attractive audience, you must create marketing offerings that align with your brand.
Make sure that you are doing everything in your power to make your brand stand out the way you think it should. Set the tone for your clients and create an experience that showcases your firm in the best possible light.
|The Dext Academy seeks to equip every accountant and bookkeeper with the skills they need to meet the future needs of businesses. Bringing together industry experts from across North America, Dext Academy provides you with the practical and strategic guidance you need to take your company to the next level. The Dext Academy, designed for forward-looking leaders of firms of all sizes, offers content written by industry trailblazers including Mark Holton, Ron Banker, Kellie Parks, and Ryan Lazanis. Check back frequently as articles will be added regularly!|