ALSO: The 8 steps of a nurture campaign.
By Marc Rosenberg
The Rosenberg Practice Management Library
There are three sources of new business:
- Existing clients, in the form of expanded services and referrals to other clients.
- Referral sources such as lawyers and bankers.
- Prospective clients.
MORE: Now Is Not the Time to Let Your Referral Opportunites Lapse | Does Your Firm Recognize All Its Skills? | Protect and Grow Existing Clients | The 4 Marketing Disciplines | 15 Powerful Niche Marketing Practices | 19 Takeaways from the History of CPA Firm Practice Development | Why You Have to Kill the Old Paradigms | Are You Ready for the Great Disruption?
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We further state the following, based on countless experiences and conversations with CPA firms:
- The time you spend prospecting for new clients should be roughly 15 percent of your time. The bulk of your time should focus on existing clients and referral sources.
- You can expect that roughly 10 percent of your growth will come from new clients. The bulk will come from existing clients and referral sources.