CLIENT ACCOUNTING SERVICES

Your existing clients can help with closing new ones.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

As you hone your sales discovery process, you will see that asking and telling is not enough. You need to “show” as well.

MORE: Three Keys to Developing Your CAS Sales Process | Happy Clients Will Blow Your Horn for You | Attract Clients through Facebook Groups | Want Higher Profitability? Turn to CAS | Structure Insights as What-Why-What | Set Your Processes Apart in Nine Steps | Five Ways to Overcome CAS Staffing Challenges | Think CAS Isn’t for Your Firm? | Convince Your Firm of CAS Value
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What you show during the discovery discussion are your client accounting services sales collaterals. They are the “proofs” that you actually do what you say. These collaterals answer the often-unexpressed question in the prospect’s mind “What will I get?” For your CAS sales process, the following are some examples of the sales collaterals:
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Plus seven points you need to identify.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

“I am not a good salesperson.”

I have lost count of how many accountants have told me this over the years. But I also learned that what they really mean is that they do not have a well-defined, structured “sales process.”

MORE: Happy Clients Will Blow Your Horn for You | Start with Existing Clients to Add CAS | Your Clients’ Words = Your New CAS Marketing | Attract Clients through Facebook Groups | How to Destroy Your CAS Profits | Price by Outcome, Not Time Spent | Want Higher Profitability? Turn to CAS | CAS Requires Reaching Out More
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This post is not about fundamental sales skills. That is beyond our scope. This is more about how to develop and execute your client accounting services sales process, pitch and supporting collaterals that can help get you more CAS sales.
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These are the best referrals you can get.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

To expand and grow your client accounting services practice, you need a steady stream of new prospects. While referrals have been accountants’ #1 source of getting new clients, this method gives no predictability and control to accountants on which types of prospects come in their doors. You need the ability to attract CAS-fit clients continuously. Hence, your lead generation process needs to be adjusted accordingly.

MORE: Start with Existing Clients to Add CAS | Your Clients’ Words = Your New CAS Marketing | Price by Outcome, Not Time Spent | Your CAS Engagement Letter Needs a Reset Option | Help Your Clients Run Their Businesses Better | CAS Tech Stack Depends on Cloud Use | Five Ways to Profit from CAS | CAS Is a Value Pitch | Accountants Are Perfect for Virtual CFO Roles
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The accounting profession’s largest CAS survey revealed that along with the firm’s website, “proactively seek referrals” is the top marketing method for firms to get new CAS clients. How do you proactively seek referrals without waiting for them?
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Twelve causes to repair ASAP.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

We discussed that you need to explain the why of your client accounting services pricing. A price is a measurable number. “Value” of each of your CAS component also needs to be reasonably measurable for your clients and prospects to understand the why. This is easier said than done, and you need to keep rewriting the value statements, testing them and revising them.

MORE: Price by Outcome, Not Time Spent | Want Higher Profitability? Turn to CAS | Structure Insights as What-Why-What | Set Your Processes Apart in Nine Steps | Five Ways to Overcome CAS Staffing Challenges | Think CAS Isn’t for Your Firm? | Convince Your Firm of CAS Value
Exclusively for PRO Members. Log in here or upgrade to PRO today.

The best way to define the measurable value of each of your CAS components is to state it from the client’s perspective, i.e., which business decisions the client can make based on the information/insight/intelligence you provide in a given CAS component, and under which circumstances. Then state the measurable impact of such business decisions. E.g., “On an average, we help our clients reduce money stuck in inventory by 11 percent, which in many cases results in lower overdraft interest costs by about 1.3 percent annually.” Without the numbers in your value statements, clients can feel you are pitching marketing fluff.
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Look at it from the client’s point of view.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

When your prospects shop for client accounting services, what they find out about CAS pricing methods and trends defines their pricing expectations. If you follow very different approaches to price your CAS offering, it will take significant effort on your part to educate the prospects (and existing clients) about why you are pricing CAS the way you are. As they say, it’s easier to ride the horse in the direction it’s going.

MORE: Want Higher Profitability? Turn to CAS | CAS Requires Reaching Out More | CAS Reports Are Better. Here’s How. | Is It Time for Your Firm to Outsource? | Raise CAS Awareness Among Your Clients | Which Clients Are Best for CAS | How Much Can Automating Bank Feeds Save You?
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It is good to first conform to the perceptions of prospects when it comes to your CAS pricing. Once you ride the horse, you can direct it to the destination you want to take it to. Once you conform to the pricing method (not the dollar value) expectations of the prospect, their anxiety, and perception of risk (what value will they receive in the price they are willing to pay) reduce. After that, they are more open to evaluating the choices you present to them.
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