client accounting services

three keys to developing your cas sales process

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two men standing and shaking hands

plus seven points you need to identify.

by hitendra patil
client accounting services: the definitive success guide

“i am not a good salesperson.”

i have lost count of how many accountants have told me this over the years. but i also learned that what they really mean is that they do not have a well-defined, structured “sales process.”

more: happy clients will blow your horn for you | start with existing clients to add cas | your clients’ words = your new cas marketing | attract clients through facebook groups | how to destroy your cas profits | price by outcome, not time spent | want higher profitability? turn to cas | cas requires reaching out more
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this post is not about fundamental sales skills. that is beyond our scope. this is more about how to develop and execute your client accounting services sales process, pitch and supporting collaterals that can help get you more cas sales.
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happy clients will blow your horn for you

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burst of color emerging from trumpet bell

these are the best referrals you can get.

by hitendra patil
client accounting services: the definitive success guide

to expand and grow your client accounting services practice, you need a steady stream of new prospects. while referrals have been accountants’ #1 source of getting new clients, this method gives no predictability and control to accountants on which types of prospects come in their doors. you need the ability to attract cas-fit clients continuously. hence, your lead generation process needs to be adjusted accordingly.

more: start with existing clients to add cas | your clients’ words = your new cas marketing | price by outcome, not time spent | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the accounting profession’s largest cas survey revealed that along with the firm’s website, “proactively seek referrals” is the top marketing method for firms to get new cas clients. how do you proactively seek referrals without waiting for them?
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start with existing clients to add cas

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their questions will help shape your pitch to others.

by hitendra patil
client accounting services: the definitive success guide

you will use very similar fundamental steps to generate words and content to express the value of your client accounting services offering. you will focus on each component of your cas offering to do so, e.g., different content to talk about bill payment services, different for advisory and outsourced cfo services, and so on.

more: your clients’ words = your new cas marketing | attract clients through facebook groups | want higher profitability? turn to cas | structure insights as what-why-what | set your processes apart in nine steps | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value | ten ways to tell a client is ready for cas
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you will also use the “contrast principle” to differentiate between your “usual” services and “cas offering.” marketing cas to your existing clients will be different than marketing cas to your prospects.
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your clients’ words = your new cas marketing

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let them help tell your story.

by hitendra patil
client accounting services: the definitive success guide

your firm’s value proposition is not what you say. it is what your clients and prospects perceive. perception is reality. here are some proven ways to identify your firm’s real marketable value.

more: attract clients through facebook groups | how to destroy your cas profits | cas requires reaching out more | cas reports are better. here’s how. | is it time for your firm to outsource? | raise cas awareness among your clients | which clients are best for cas | how much can automating bank feeds save you? | wants vs. needs: why not fill both?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  • ask your clients: it is not so easy to “be in the customers’ shoes.” you will be surprised how you can gain immense insights from your clients – about how they perceive and experience your service and how they feel; what they find of value and what they feel frustrated about. don’t guess, don’t assume, just ask them. it is easy to conduct customer surveys online (e.g., surveymonkey has a free version that allows you to collect 100 responses; google forms are also free to use). identify the most common positives and negatives that emerge from survey data to be able to improve your marketing and customer experience.

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attract clients through facebook groups

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plus six more marketing avenues you might not have thought of.

by hitendra patil
client accounting services: the definitive success guide

we asked about sales and marketing methods as part of the accounting profession’s largest cas survey. among firms offering client accounting services, the chief means for gaining new cas business is “proactively seeking referrals” and the firm’s “website,” each at 48 percent. networking at local/regional/national events follows at 35 percent.

more: how to destroy your cas profits | price by outcome, not time spent | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles | raise client expectations with cas
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the other marketing methods deployed by cas firms are:

  • networking at local / regional / national events: 35%
  • search engine optimization: 14%
  • influencer or social media marketing: 11%

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how to destroy your cas profits

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twelve causes to repair asap.

by hitendra patil
client accounting services: the definitive success guide

we discussed that you need to explain the why of your client accounting services pricing. a price is a measurable number. “value” of each of your cas component also needs to be reasonably measurable for your clients and prospects to understand the why. this is easier said than done, and you need to keep rewriting the value statements, testing them and revising them.

more: price by outcome, not time spent | want higher profitability? turn to cas | structure insights as what-why-what | set your processes apart in nine steps | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the best way to define the measurable value of each of your cas components is to state it from the client’s perspective, i.e., which business decisions the client can make based on the information/insight/intelligence you provide in a given cas component, and under which circumstances. then state the measurable impact of such business decisions. e.g., “on an average, we help our clients reduce money stuck in inventory by 11 percent, which in many cases results in lower overdraft interest costs by about 1.3 percent annually.” without the numbers in your value statements, clients can feel you are pitching marketing fluff.
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price by outcome, not time spent

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look at it from the client’s point of view.

by hitendra patil
client accounting services: the definitive success guide

when your prospects shop for client accounting services, what they find out about cas pricing methods and trends defines their pricing expectations. if you follow very different approaches to price your cas offering, it will take significant effort on your part to educate the prospects (and existing clients) about why you are pricing cas the way you are. as they say, it’s easier to ride the horse in the direction it’s going.

more: want higher profitability? turn to cas | cas requires reaching out more | cas reports are better. here’s how. | is it time for your firm to outsource? | raise cas awareness among your clients | which clients are best for cas | how much can automating bank feeds save you?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it is good to first conform to the perceptions of prospects when it comes to your cas pricing. once you ride the horse, you can direct it to the destination you want to take it to. once you conform to the pricing method (not the dollar value) expectations of the prospect, their anxiety, and perception of risk (what value will they receive in the price they are willing to pay) reduce. after that, they are more open to evaluating the choices you present to them.
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would you buy your own services?

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don’t expect potential clients to if you don’t know what sets you apart.

by steven e. sacks, cpa, cgma, abc

do you ever wonder why after spending many hours on drafting, editing, proofing, and polishing—and proofing and polishing just once more—your engagement proposal efforts did not result in winning the engagement? and if this happens on a semi-regular basis, the frustration is never easier to take.

more steve sacks: how do you value your most important asset? | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you may have the requisite knowledge, experience, and perhaps even a broad view based on a diverse set of clients. however, you may have become complacent by maintaining a “cookie-cutter” approach to developing your proposals. like the old joke defining a consultant: “a person who takes off your watch, tells you the time, and gives the watch back to you,” implies an approach that you believe is best for your potential client, yet reflects no understanding of what the client actually needs.

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want higher profitability? turn to cas

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man's hand drawing upward arrow labeled "profit"

the effects of various pricing strategies.

by hitendra patil
client accounting services: the definitive success guide

pricing your services correctly to ensure reasonable profitability is a major decision you will take in your client accounting services practice.

more: cas requires reaching out more | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles | raise client expectations with cas | the why behind your cas why
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the accounting profession’s largest cas survey results revealed how cas firms price their cas offering:

  • the topmost method of pricing the cas offering is fixed/flat fee, used by 41 percent of the respondents.
  • the next common method of pricing cas is “mixed method of pricing” (a mix of hourly, fixed and value pricing), charged by 36 percent of respondents.
  • hourly billing method is used by 33 percent of respondents.
  • about 28 percent of respondents use value pricing as the method for cas pricing.

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it’s okay to say no to clients (even the large ones)

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working with “smaller” clients can often be more rewarding – and profitable – than “big” clients.

by frank stitely
the relentless cpa

there’s a reason you aren’t actively training clients to allow you to work efficiently. you’re afraid that you’ll lose clients.

i guarantee that you will.

more: control your time: avoid ambush meetings and calls | get clients to bring tax docs early … yes, early | why time tracking still matters | make fewer mistakes, increase revenue and capacity | six ways to create a millennial-friendly firm | do you know your turnaround time?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

clients have trained you to be inefficient. they’ll resist retraining. some of them will leave and infect someone else’s practice.

the reason you fear losing clients is that you fear you can’t replace them.

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cas requires reaching out more

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businessman using internet on smartphone and laptop

use tech to up your communication game.

by hitendra patil
client accounting services: the definitive success guide

a successful client accounting services practice requires increased interactions with clients. your usual non-cas methods of client communications are not sufficient to meet the demands and expectations of your cas clients. you must leverage new tech tools to reach out, communicate and collaborate with clients more frequently.

more: your cas engagement letter needs a reset option | structure insights as what-why-what | set your processes apart in nine steps | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value | ten ways to tell a client is ready for cas | launch cas in just eight steps
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

some accounting software can help you automate client notifications (by email/text) based on customized triggers set up in the software. similarly, automated payroll software can keep clients informed automatically. mobile apps of core accounting software are becoming a necessity to deliver client service and communications.

why?
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your cas engagement letter needs a reset option

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even with the best definitions, scopes can change. here’s what to include.

by hitendra patil
client accounting services: the definitive success guide

“people think of us (accountants) as the compliance agents – the necessary evil.”

this sentence haunts me even today, after hearing it nearly 15 years ago from a multi-award-winning, highly experienced cpa.

perception!

more: structure insights as what-why-what | cas reports are better. here’s how. | is it time for your firm to outsource? | raise cas awareness among your clients | which clients are best for cas | how much can automating bank feeds save you? | wants vs. needs: why not fill both? | get sticky with cas | who is the professional?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

has the accounting profession’s brand been (predominantly) perceived as “compliance” only?

“we deal with the past. we do audits. and we deal with the present. we do taxes and books. future – is not our business.”
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structure insights as what-why-what

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how to define and refine your cas processes.

by hitendra patil
client accounting services: the definitive success guide

we know the outcomes that are important from the client perspective can, and should, define your firm’s client accounting services processes.

but how do you create your firm’s cas-specific processes? where should you begin? how would you know what to change and what to add to your processes?

more: cas reports are better. here’s how. | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles | raise client expectations with cas | the why behind your cas why | who is the professional?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it is both difficult and easy to create your firm’s cas processes. it will be difficult, not impossible, to ask if you do not have reasonably deep insights into what your clients need and want. it will be easy if you have periodic interactions with your clients.
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