Finance professionals encouraged by economic rebound.
The Accounting and Finance Employee Confidence Index, a measure of overall confidence among U.S. accounting and finance workers, increased 2.7 points to 53.3 in the second quarter of 2010, according to The Mergis Group, an employment agency.
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Networking moves to social media.
Click this: The words CPAs use most when they talk about marketing (via Wordle)
Empowered by technology and concerned about costs, tax and accounting firms are rushing into digital marketing in unprecedented numbers, according to a new CPA Trendlines survey.
The “CPA Trendlines Marketing and Business Development Trends Survey” reveals emerging issues and opportunities in practice development strategies, spending plans and growth goals.
Website upgrades and email newsletters are among the most important new marketing initiatives that firms are undertaking.
Networking with referral sources remains the primary business development strategy for firms. But, increasingly, it’s being done online, through social media such as blogs, Facebook, LinkedIn and Twitter.
LIVE SURVEY RESULTS:
Clearly, tax and accounting practitioners are learning how to harness the power of new technologies to make and maintain contact with clients, prospects, influencers and referral sources. Andrew Rose at Naden Lean in Timonium, Md., for instance, is finding particular success these days in integrating online and direct mail campaigns. Evelyn Edwards in Austin reports, “I’m consistently getting comments from my blog posts” (at http://evelynedwardscpa.com/category/blog/). But U.S. firms are not the only ones gaining new business from online marketing. New competition for some international accounts may be emerging. In Belgium, for instance, Johan Schoofs at BOL International says they are gaining new leads “by offering free publications on our website.” Some top lead-getters are “sector-specific guides on how to start up your business.” Other firms are finding success in focusing their energies or pursuing niche business. Betsey Storey, the chief marketing officer at Concannon Miller, says they are “narrowing the conversation to very specific industries.” But with the increased competitiveness, some firms may be feeling the pinch of fee cutting. “Sadly,” says Mitch Reno, chief marketing officer at Rehmann, “firms are successfully lowering fees to win or retain business. The ramifications on industry profitability will last five to ten years.” You’ve been warned. MORE LIVE RESULTS:
SURVEY DEMOGRAPHICS:
For seven days ended July 21, 2010:
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Answering the question: “What can Twitter do for you?”
Lisa Barone at Outspoken Media, Inc. says small businesses like accounting firms can use Twitter as a way “to find new leads, build relationships, and as an overall way to cost effectively market their business.”
Here she lists 80 ways small businesses are using Twitter. Some may work for your firm, too.
