marketing

Getting New Clients: What’s Working, What’s Not

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Referrals remain stalwart. Social media weakens. Websites advance.

Portrait of young businessman with paper airplane. Success, creative and startup concept.

By CPA Trendlines

Some practices just need more clients. Some need a more cost-effective way to find them and sign them up. Some are looking for ways to liberate their less profitable or more difficult clients and replace them with others more conducive to getting the job done with minimal hassle and maximum moolah.

The new Accounting Firm Operations and Technology Survey gives us some insight into what firms across the nation are doing to attract clients.

To no one’s surprise, referrals from current clients remains the most common source of new clients. No fewer than 95.1% of respondents report referrals as a sales channel. That number was close to consistent across all sizes of firms. For solo practitioners, it was 94.2%. It was highest for small firms (1-10 employees) at 96.8%. It was lower for mid-sized firms (11-50 employees) at 93.9%, and lowest of all for large firms, where referrals are the source of 92% of new clients.

What’s interesting, however, is that the overall percent has increased since last year, when 92.6% reported new clients by referral. With all the new and burgeoning sources of information — social media, websites, Internet advertising — why are referrals an increasing source of clients? READ MORE →

12 Must-Knows for Niche Markets

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Ed Mendlowitz CPA The Practice Doctor Q and AMake sure you fully understand their needs.

QUESTION: I have a couple of clients in a number of industries and when I ask for referrals they tell me they do not want me to handle competitors of theirs, yet I know of many CPA firms that have large amounts of clients in concentrated industries. What am I doing wrong?

MORE PRACTICE DOCTOR Q&A: How Much Should You Pay To Buy, Sell or Merge an Accounting Practice? | Is Joint Representation a Conflict? | When Large (or Any) Clients Need Backup Assurances | When Is It Time to Merge? | What Goes in a Client’s Permanent File? | 6 Ways to Take a Client Beyond Tax Prep | 18 Ways to Blow a Partnership Opportunity | 6 Ways to Know What You Don’t Know | 6 Simple Steps to Impress a Prospect | 10 (Nearly) Painless Ways to Keep Up to Date with Technology | 10 Ways to Get New 1040 Clients | Tax Return Reviewer Ticking and Tying | 23 Reasons Clients Really Need YOU for Taxes

ANSWER: I’ve had clients tell me that, but I think back to my early jobs and each firm I worked for had industry specializations, so I think the current trend is just a continuation of what has always been done.  I attribute your lack of getting client referrals to an inability to recognize, sell and communicate the advantages of your firm to your clients.

READ MORE →

Do You Realize You’re Failing?

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Be proactive, rather than waiting for business to come to you.

By Martin Bissett

Have you noticed all of those titles in the local bookstore or at the airport offering us the “key” to this and the “key” to that, the “six keys” to one thing, and the “four keys” to another?

It also seems that every book is a “game-changer” now, to the point where it is difficult to understand what the game is anymore, never mind how to play it.

MORE ON SELLING: Selling vs. Attracting to Build Relationships | When Selling, Don’t Chase New Fees, Attract Them | Selling Accounting Services Doesn’t Have to Be Hard! | ‘Selling’ Isn’t a Dirty Word | 8 Factors in Practice Development Success | In Sales, Perception Is Reality | Success Begins With Accountability | Do You Realize You’re Failing? | Winning Your First Client

When it comes to winning new work in professional services, we must first build a relationship. The game hasn’t changed at all in that respect. READ MORE →

11 Ways to Add Value for Clients

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Businessman standing outside the office on the phone with coffeeDo these right and your revenues should benefit, too.

By Sandi Smith Leyva
The Accountant’s Accelerator

As you build your relationships with your clients, it’s always a good thing to see how you can serve them even better.

Here are 11 ways you can add value to your existing services that will enable you to stand out from the competition, serve the client better and put more green in your bank account.

MORE ON SMALL-FIRM GROWTH STRATEGIES: 5 Things You Know That Clients Don’t | 3 Ways to Test Your Revenue Forecast | 8 Must-Haves for a Prospect Kit | Whip Out the Wow Factor for Clients | How to Work the Same Hours and Make More Money | If You’re a ‘Best-Kept Secret’ Cut It Out! | BUSY SEASON SURVAL TIPS: 5 Ways to Turn a Tough Day Into a Great One | Take Advantage of 4 Key Marketing Strategies  | Four Ways to Stop Leaving Money on the Table

 As you go through the list, check them off to see which ones you are doing, and which ones sound good to add to your business.

READ MORE →

The 12-Step Program for Building Better Client Relationships

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Selfie Cell Phone PicsTurn the habits of everyday friendship into business skills.

By Jean Marie Caragher
The 90-Day Marketing Plan for CPA Firms

Since strong client relationships contribute to client satisfaction, longevity and lead generation, partners often encourage their managers and staff to build relationships with their clients. But these managers and staff look at the relationships their firm’s partners have built over time and think it’s impossible to replicate their results.

Building relationships with clients can be done using the same behaviors that we use when building friendships and courting our spouse or significant other. Consider these 12 tips to build client relationships, especially during tax season, prime time for in-person client contact. READ MORE →

9 Ways to Increase Sales through ‘Power Networking’

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Confident businesswoman handing man a business card in networking sessionThese tips work for boosting referrals, too.

By Sandi Smith Leyva
The Accountant’s Accelerator

Networking is an essential part of building your business.

MORE ON SMALL-FIRM GROWTH STRATEGIES: 5 Things You Know That Clients Don’t | 3 Ways to Test Your Revenue Forecast | 8 Must-Haves for a Prospect Kit | Whip Out the Wow Factor for Clients | How to Work the Same Hours and Make More Money | If You’re a ‘Best-Kept Secret’ Cut It Out! | 5 Ways to Turn a Tough Day Into a Great One | Take Advantage of 4 Key Marketing Strategies  | Four Ways to Stop Leaving Money on the Table

Whether you network locally, nationally or internationally, there are some tips that are common to all businesses: READ MORE →