Generate success: Combine Accounting and Marketing

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Accounting and marketing are an unlikely combination, however they can be an effective pairing.

With the accounting industry experiencing disruption, accountants need to CHANGE their approach. With competition increasing, and traditional methods such as referrals not garnering the results they once did, accountants find themselves in a position whereby they need to transform. Accountants need to actively market their offerings by differentiating themselves through repositioning as a one stop shop for customers.

 

Become a one stop shop

The number of services customers want from an accountant is currently about four, which is a drastic increase from 10 years ago when customers only wanted one or two services. There is also an increase in demand for advisory services, as a result of business and consumer confidence rising. Overall accounting services demand however, has fallen.

But what does this all mean?

This means accountants need to communicate to prospects and customers that they have a wide range of services on offer to suit their needs. People are not aware of everything you can provide them with, unless you TELL them. Accountants also need to communicate that they are not just an accountant, but are a trusted advisor that can find the optimal solution to client’s issues.

Forging this connection will ensure that the transactional nature of the relationship is gone, and that customers will see you more as an ally that is indispensable due to an increase in loyalty and trust.

 

Start marketing, and success will follow

Ok, so now you have embraced the idea of marketing, but where do you start?

Always start with your brand. Your brand is who you are, your unique selling proposition and how you are identified. You will need to begin rebranding yourself starting with your current customer base and then the wider market.

Once you have begun your rebrand, it may be a good idea to update your website to communicate your new message and showcase your new brand identity. You can then begin to create campaigns to connect with current customers through nurturing emails to let them know of your transition and to include them in the change. You will then also create campaigns aimed at the wider market to show that you understand and can cater for their needs, and that you’re the only one that can help them. This can be achieved through a variety of channels such as social media, print and more, dependant on who you want to target.

It may sound daunting, but take it one step at a time, by first trying to get into to mindset of sales and marketing. If you need help finding the best marketing solution for you, contact us on 1800 737 266 or ask@permission.com.au for a chat on how we can help you achieve your goal.

 

References:

https://www.xero.com/au/accountant-bookkeeper-guides/marketing/marketing-accounting-firms/

http://practiceparadox.com.au/selling-skills-for-accountants/

http://www.accountingweb.com/practice/practice-excellence/how-accountants-can-really-market-themselves

https://www.exact.com/uk/online-business/accountancy/5-reasons-why-accountants-struggle-to-market-and-sell-themselves-effectively

The new value equation, Accounting and Financial Services Benchmarking Report, Macquarie Group, 2016

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