If you focus only on one approach in business development, you will be limiting your percentages for success. by Nicholas D. Keseric Jr. via Engineered Tax Services If you only do one thing to position your firm and yourself in your marketplace, you will be missing out on most of the market. Many things together, over time, will result in an increased chance for achieving your goals.
Looking for younger, newer, larger clients? Only about 12% of small business are on Twitter, but one in five of those report having made a purchase decision using Twitter — a hit ratio that’s hard to ignore. So, who exactly makes up this potentially profitable outlier segment? These businesses are likely to be: Younger: Owners are less than 45 years old. Newer: The business is less than 5 years in tenure. Larger: Perhaps counter-intuitively, 10 or more employees, potentially indicating there is an employee – and not the owner – who is following tweets. While most accounting firms are still trying to figure out how to use Twitter in a practical way, its hard to to argue Twitter should be […]
Despite economic recovery, many firms seem unable to capitalize on new opportunities. Click here to join the Tax Season 2011 survey; get the results. Tax accountants are finishing the 2011 busy season with stronger results than they expected, but – perhaps surprisingly — not as strong as last year, despite somewhat improved economic conditions. CPA Trendlines research suggests that many accounting firms may have over-reacted to the 2007 market crash by cutting staff and billing rates, leaving them unprepared to capitalize on the opportunities of the 2011 recovery.
Start with a strategy and realistic expectations. Robin Brothers, relationship manager at The Rainmaker Academy, explains why some firms may never be ready to hire a business development professional. More CPA Trendlines coverage here.
Kirkland Albrecht & Fredrickson battles a bruising recession. by Rick Telberg By the time you read this, Ken Kirkland will be packing for a trip to the India beach resort of Thiruvananthapuram as the newly named international chairman of the JHI accounting firms network. As a leader of the 120-firm, 55-nation group, Kirkland hopes to help build stronger programs, increase participation and attract new members. “As companies like ours want to stay independent,” he says, “it’s important to be affiliated with a group like JHI to access additional resources and opportunities.” While that job sounds formidable, it pales in comparison to the challenges Kirkland faces as the chief executive of Braintree, Mass.-based seven-partner, 58-staffer CPA firm Kirkland Albrecht & Fredrickson […]
With email marketing emerging as the weapon of choice for business-hungry accounting firms, we figured some firms could use a few pointers E-mail marketing giant MailerMailer’s latest E-Mail Marketing Metrics Report reveals the six key factors that determine whether or not clients and prospects open (and respond to) your e-mail newsletters and promotions. Here are the study’s six key findings, based on a study of over 300 million business e-mails sent over two years: 1. E-mails with subject lines that are less than 35 characters are opened 3-4% more often than those with longer subject lines.
Thought leadership marketing moves to social vehicles. Consulting firms are ramping up spending on social media to drive thought-leadership marketing strategies, according to a research report by The Bloom Group, BlissPR and the Association of Management Consulting Firms, which carries implications for accounting firms. Noting that firms’ “interest in social media appears to be matched only by their fears,” the authors offer six key findings: 1. Firms are quickly expanding their budgets for social media. While social media represented only an estimated 5% of the thought leadership marketing budget five years ago, spending has climbed rapidly in the last five years to an estimated 18% today. Five years from now, social media is projected to be about a third of […]
What Big Firms Can Learn from Sole Practitioners and Small Firms. “The best independent practitioners have a singular focus on helping their clients achieve their goals,” according to Andrew Sobel, author of the exemplary “All for One: Ten Strategies for Building Trusted Client Relationships.” “They deliver value at every stage of their work, and they do so as quickly as possible and with ruthless efficiency,” he says. The most successful independent professionals: Create personal brands by building individual market renown. They create notoriety for themselves through publishing, speaking, and networking, and by focusing on a core specialty for which they become well known. All too often, professionals in large firms spend years sheltered under their firm’s brand. Regularly develop and […]
Six hints for asking effective questions. The Franklin Covey coaching group, renowned for “Seek First to Understand, Then to Be Understood” advice, says effective questioning is an essential skill in business development. “Your goal is maximum, mutual understanding,” the company says, and adds these six tips: