Top 6 marketing strategies for accounting firms
I’ve seen my external accountant twice in 10 years – which says a lot about how accounting firms communicate with their customers.
Interestingly, this is commonplace for small businesses who have not put a lot of thought into who their accountants are and why they are with them.
When I speak to accounting firms that are staying still, not growing and haven’t changed their client base in years, they all say the same – “our clients aren’t going anywhere”.
But there lies the problem. They will. We have been inundated with new “challenger” accounting firms that are seeking to grow their businesses exponentially. They see the complacency of accounting firms in Australia and know that in time, they will follow the same market trends as their American counterparts.
If you have an accounting firm that needs to re-think your marketing, here are 6 strategies that will help you get on track:
- A strategy is to have a strategy: Seriously, if you don’t have a marketing plan in place then there is no point in doing marketing. Know your competitors, customers and market trends, and use industry best practice to use marketing as a vital tool to grow your accounting practice.
- Social media marketing: While you may have a LinkedIn account, the reality is that you most probably rarely use it. By having a social media calendar and engaging on social media, the market awareness of your brand will grow ten-fold. Focus on LinkedIn and Facebook, if you lack resources (or outsource this service to a marketing company).
- Update and refresh your website: What is your customer’s experience on your website? Have you mapped out the customer journey? What are the key touchpoints in your website that are “made for your customer”? Was your website done 5 years ago? When was the last time you updated your website? Your website is the foundation of all marketing efforts --- so fix it!
- Podcasting: I’m a small business owner and I would love tips on how to more effectively reduce tax, increase profits and make better business decisions. Podcasting is so easy to do (all you need is a microphone) and it allows customers to hear ‘straight from the horse’s mouth’ what they should and shouldn’t do when it comes to their financial affairs.
- Communications: The infrequency of communications from accounting firms is appalling (and still, I haven’t left!). Communicating internally and externally will not only connect you to your customer, but it will also help you grow your accounting practice.
- SEO: Most Australian accounting firms with revenues under $20 million do not have SEO in place. No wonder they are not growing! Hire an SEO specialist, drive traffic to your new and improved website and start showing your customers how growth can positively impact your business.