Jean Marie Caragher, in the April 2008 Journal of Accountancy, states four irrefutable truths for successful marketing:
- By identifying target markets and resources, niche marketing can distinguish a CPA firm from its competitors while generating higher profit margins.
- A well-developed marketing plan is the key to successful niche marketing and can include, but is not limited to, the following components: a mission statement; situation analysis; and SMART (specific, measurable, attainable, realistic and timely) strategies.
- Find a niche champion with the industry knowledge (and experience), respect of partners and the ability to lead a team. If you lack champions, consider hiring and/or merging with industry specialists.
- Focus your marketing program using a variety of marketing tools and activities, and implement your strategy consistently.
Read the article, here…
