plus how to decide what services to offer.
by august j. aquila
price it right: how to value accounting services
computer consulting has evolved over the last 30 years and there are more choices than ever before. in fact, it is much more than just a computer and is now rebranded as technology consulting. recent changes in technology will force us to learn a new type of technology consulting. despite your current level of technology consulting sophistication, you will still need to market your services.
more: five reasons to implement change orders | why you need progress billing | five tips for cross-selling and upselling | five keys to successful marketing | twelve fundamentals of planning | one question to guide your growth plans | four ways to prepare for new business development
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get started by asking yourself (your team) the following three questions:
1. why do you want to be in this business? when you pose this question to your team members, rephrase it like this, “what do you feel should be our primary objective for being in this business?” there are many ways to answer this question. here are some of the more common ones:
- we can develop new accounting and tax clients.
- we can expand our services to existing clients.
- it’s a defensive measure that will help protect our practice from erosion.
- it’s a way for us to grow (top and bottom line).
once you get all the reasons down, prioritize them because they will become your guide when making major strategic and marketing decisions.
2. what is your vision for the practice? what do you want this practice to become? if you can dream something, you can then create it. ask your team members to use a three- to 10-word phrase to describe the technology group as they would like others to know it. the only restriction is that the description cannot use the words “highest quality,” “best professionals” or similar types of expressions.
here are some examples of vision statements for technology consulting firms:
- “to be the leading provider of innovative technology solutions that enable our clients to achieve their business objectives.” – accenture
- “to be the most trusted and respected technology consulting firm recognized by our clients for delivering excellence, inspiring innovation and exceeding expectations.” – deloitte
- “to be the premier provider of technology consulting services in the world.” – ibm global services
- “to dominate the small business sector in the upper midwest.” – anonymous
3. what are the strengths, weaknesses, opportunities and threats (swot) of the technology group? next, you need to do a basic swot analysis. look at where you are today and ask your team to list what they think are the five major issues under each of the four areas in the swot analysis.
developing a good marketing plan requires spending time to understand what you want to do, what internal and external constraints you face, and what specific niches and functional areas you will become proficient in.
remember, the one who tries to be everything to everyone really becomes no one.
let’s look at some additional steps you can take to market your technology consulting practice. if you answered the three questions above, you are ready to start looking at the types of services you want to offer and the industries you want to serve. the primary goal of your technology services, like all your other services, is to provide solutions to clients’ problems. unless you are a national or international firm, it’s better to concentrate on fewer services.
there are many types of technology consulting services. here’s a short list of top technology services offered by accounting firms today:
- cloud computing
- artificial intelligence and machine learning
- optical character recognition (ocr)
- robotic process automation (rpa)
- blockchain technology in accounting
- big data and data analytics
- mobile accounting software
for each service area above, indicate on a scale from 1 to 5 your preference for doing the service, with 1 being the lowest score (unlikely) and 5 being the highest score (very likely). this will give you an indication of your team’s interests and strengths.
after you have some idea of the services you will offer, you need to identify what markets or industries you will serve. will your energies be focused on manufacturers, distributors, construction firms, or professional service firms such as legal, medical engineering, etc.?
depending on your human resources and existing talent, you may not be able to focus on more than one or two industries. that’s fine. there is a lot to learn about an industry and it is better to go deeper than just scratch the surface.
plans obviously are no good without the necessary people to carry them out. your staffing requirements will depend on the type of services you offer. will you train the staff you currently have, or will you hire experienced consultants? you will need to determine the roles and responsibilities for each team member. who will be your sales and marketing staff? who will be the service providers and the relationship managers? what is the ideal staffing level for this practice? before hiring, list the positions, responsibilities and expertise needed to be successful.
here are some tips on how to market a technology consulting practice in a cpa firm:
- define your target audience. identify the types of clients that you want to attract and tailor your marketing efforts to them.
- create a website. a website is essential for any business today. make sure that your website is professional and easy to navigate.
- use social media. social media is a great way to reach potential clients. make sure that you are active on the platforms that your target audience uses.
- attend networking events. networking events are a great way to meet potential clients and build relationships with other professionals in your industry.
- offer free consultations. offering free consultations is a great way to get potential clients interested in your services.
- use email marketing. email marketing is an effective way to stay in touch with your clients and keep them informed about your services.
using technology is one of the best ways to show your clients your technology abilities.