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Marketing for accountants can often feel like uncharted territory for some practices. Before the digital transformation and the dot com period of the early 2000s, firms would secure and maintain clients primarily based on the calibre of their expertise. A job well executed often leads to referrals. Networking was essential for word-of-mouth recommendations and forging essential alliances. Sadly, these methods have encountered difficulties in the past few years.

However, contemporary practices are now defying tradition. They’re not passively awaiting referrals. Instead, they have discovered innovative methods where marketing can provide advantages beyond merely acquiring leads.

It’s a common misconception that marketing for accountants solely revolves around social media and email newsletters to attract new leads. In reality, marketing can benefit your firm in several unexpected ways.

Here are three key ways marketing can enhance an accounting firm:

1. Broadening Your Services
We’ve seen a rising trend of practices introducing business advisory services, making the most of real-time data and reporting via renowned cloud accounting solutions. ‘Advisory’ has turned into somewhat of a buzzword, and rightly so.

Clients today anticipate more from their accountants than just fulfilling basic accounting duties. They desire a relationship that brings added value. Offering a broader range of services – think of it as suggesting an extra side dish – creates loyal clients. The optimal method to convey these additional services is through precise marketing directed at your existing clientele.

PROVIDE CONTENT THAT ENRICHES YOUR CLIENTS.
Regular content centred on distinct expertise areas, shared across multiple channels, ensures your practice remains the first choice when a client requires assistance. If you’re introducing advisory services, curate articles filled with tips, strategies, and valuable insights revolving around “business advice” or “financial advice”. Disseminate these through your email newsletters and platforms like Facebook and LinkedIn. Direct 1:1 emails to clients who might benefit from your insights also prove effective. Consistent efforts in this domain amplify your firm’s credibility and perceived expertise.

2. Boosting Revenue from Current Clients
As most know, it’s simpler and more cost-effective to get work from existing clients than to acquire new ones. Some incorrectly assume that marketing solely aims for new client acquisition. However, the most fruitful accountant marketing to amplify revenue focuses on client retention strategies. These strategies foster repeat business and aim to heighten the lifetime value of a client.

The most challenging step, converting an individual into a client, is already behind you. You’ve established trust, initiated a relationship, and the client holds a positive view of your practice. The next step? Deliver value beyond just your service, achieved by marketing to your present clientele.

KEEP THE DIALOGUE ALIVE.
Engage current clients in relaxed conversations. You’ve already won them over; now, simply foster loyalty and deepen their interest in your services. As an example, when onboarding, gather data and ensure its seamless integration with your management software and a united CRM and marketing platform. Rather than incessant sales pitches, provide them with educational updates and targeted content on platforms like Facebook and LinkedIn. Your messages can offer insights into your firm, celebrate client successes, or even highlight specific website content that matches their interests. Essentially, use your marketing prowess to subtly upsell to your clients.

3. Marketing to Alleviate Team Burnout
The COVID pandemic saw a surge in client inquiries, as many struggled to navigate the changes and support mechanisms. For accountants, the deluge of phone calls and emails led to increased burnout. Smart firms quickly adopted a volume-focused strategy. Instead of managing countless individual queries, they leveraged marketing to address common questions en masse through webinars, content, newsletters, videos, or even eBooks.

DON’T BE PASSIVE.
Marketing goes beyond merely attracting new clients. It can be your lifeline. When applied adeptly, it can diversify your services, enhance client value, and allow your team to manage their workload without overwhelming pressure.

Considering a foray into marketing? Reach out to PracticeNet, and we’d be delighted to offer tips and guidance to pinpoint the ideal strategies for your practice.

If you’re interested in discussing how we can help you get online or improve your online presence, contact us at 0818 44 55 66, send an email to hello@practicenet.ie, or schedule a call using the website hello.practicenet.ie

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