six goals you might have.
by penny breslin
it’s not just the numbers
picking the best clients won’t automatically bring you a steady stream of eager prospects, ready to pay you their hard-earned cash. you have to do some work to help them find you.
more: it’s ok to have favorite clients | narrow your prospects by choosing a vertical | build your team, then choose your clients | how back office support adds value | ai is not your enemy
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most accountants and bookkeepers would rather do anything other than marketing. most equate marketing with being a pushy and sleazy used-car salesman. a better way to think about marketing is telling the world what you do, who you do it for, and how you can help the people who need your help.
do what you like and pay others to do the rest. i take no joy in marketing campaigns, seo, social media and anything that has to do with management of the aforementioned work. however, it is a needed function. like finding the best in hosting solutions, networking, cybersecurity and also accounting, i found a marketing firm that would work with me and took the time to understand my needs while teaching me the reality i had to deal with regardless.
i asked victoria calaguian from maxeemize digital marketing to write up her understanding of the marketing needs of accounting firms in the current 21st-century climate. if you have someone in your firm who wants to take the marketing ball and run with it, this will be a good primer to get started. if you decide to outsource your marketing like i did, then this will also be useful information so you’re not throwing your marketing dollars away.
digital marketing: keeping accounting firms relevant in the time of pandemic and beyond
cpas, accountants and firms face marketing issues in the best of times – not knowing what strategy to use, how much budget to allocate, the type of audience to engage, or how to track and measure campaigns. the global pandemic hasn’t made things any easier and created a landscape that none of us could have predicted. we have witnessed a significant deployment of remote work and an unprecedented increase in digital access for services, with digital marketing serving as a vital tool. as the world races to produce covid-19 vaccine and offer a return to previous ways of doing things, there is no doubt that business operations have been altered for good. a return to a pre-covid-19 operation would be detrimental to success. many practices have had to adapt, embrace new strategies and shift mindsets to retain clients and continue to thrive through the global pandemic and beyond.
but where do you begin?
before covid-19, accounting professionals and firms were notoriously slow in adapting to technological changes. but, as the novel coronavirus wreaked havoc in our economy, firms were left with no choice but to re-evaluate and change the way they run the practice and implement a well-thought-out digital strategy.
the best place to start is by having a better understanding of digital marketing – defined as promoting businesses through the internet by utilizing various digital media and platforms. next, you need to conduct a self-assessment and have clearly defined marketing goals that align with your overall sales or business goals. these will help narrow focus on the specific digital marketing strategies that will support your firm’s growth and help keep it competitive in the virtual world.
once the strategies have been identified, the next step is to develop a comprehensive digital marketing plan, which outlines the action plan and steps to be taken to achieve your marketing goals. lastly, track all your digital marketing strategies to gauge what’s working or not working, and to measure success and roi.
know your marketing goals
to tap your online audience: do you still walk to the nearest sandwich shop to pick up lunch or do you simply order meals using mobile apps? do you still read printed newspapers or do you now browse live news on your phone? would you prefer to drive to the mall to buy gifts or simply turn to your laptop or smartphone and shop online? it is highly likely that the majority of people would choose the second option, making it clear that we have become dependent on the internet to find anything and everything to get our work and most other things done. so, businesses that are choosing to embrace digital marketing are standing out from the competition. prospects usually conduct online searches, rather than walk into new accounting firms’ offices, to find the best options available, then proceed to check customer reviews or testimonials before making their final decision. so to build your firm’s clientele, it’s important you rank in the list of other accounting firms on the search engine results page (serp).
to compete: the accounting and finance industry can be cutthroat and staying on top of the game is vital to your business’ survival. whether you’re an accountant specializing in a certain field of accounting or part of an accounting firm that serves either businesses or consumers, you can compete with any competitor regardless of size, provided you have a strategic digital marketing gameplan in place. smaller practices used to struggle to match the resources of larger competitors. fortunately, digital marketing levels the playing field. in the online world, businesses with professionally designed websites, relevant content, smooth customer journey, impeccable customer service are king – not size.
analyze your competitors and study how they promote and position their practices. get some ideas from the things that they are doing right to help capture your audience’s attention. take a close look at the content they share, the messages on their ads, the images they post. these will help you develop your own content strategy that will resonate with your audience and build the right connection.
to open communication and engagement: in today’s competitive and connected online space, the value of connecting and engaging with your audience cannot be undermined. unlike traditional marketing, which can be costly and lacks the ability to interact with audiences, digital marketing is cost-effective and allows you to reach your audience on the go – whenever they are online and wherever they are. it facilitates dynamic interaction between companies and audiences: prospects, clients, partners, vendors, followers and more.
whether through your website, landing pages, paid ads, blogs, email blasts, live chats or social media posts, digital marketing offers various channels and platforms for accounting firms and audiences to communicate. they can be encouraged to take actions, such as to visit your website, to call your business for inquiry or to schedule a consultation or a demo, to read about your accounting services, or to provide their feedback or share their experiences with your firm through testimonials or reviews.
to create targeted campaigns: another advantage of digital marketing is its capability to create highly targeted campaigns. through search engine optimization (seo) and pay-per-click (ppc) advertising, you can put your practice and your services in front of the prospects at every stage of the buying cycle. most platforms offer ad options that allow you to segment your audience more deliberately based on demographics, geographic location, interests, devices used, etc.
to increase brand awareness: building brand awareness is an important step in spreading the word about your accounting firm and distinguishing you from the competition. what can brand awareness do for your accounting practice? it develops brand equity, fosters trust and establishes loyalty. digital marketing can help put a proverbial face and personality to your brand name that prospects can relate to. it enables you to develop brand personality, share your story, offer your expertise and receive feedback. these are some of the things you can do to define your brand and create a great impact.
to generate new leads: filling your pipeline with new leads is the most obvious goal of any marketing campaign. without new leads, you can’t get new clients. keep in mind that not every lead will become a client, nor should they. as leads move through your marketing funnel, many will self-select themselves out, and that’s a good thing. you want to screen out the tire kickers and the ones who want free accounting and bookkeeping advice.