Posts Tagged ‘Marketing’

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Marketing is Only as Good as Your: CRM

July 5th, 2012

In a previous blog post I talked about the importance of having a good quality list of prospective clients.

Now we need one central location for this list; and our current clients; and our referral sources. This is the Client Relationship Management (CRM) system.

Here you want to collect as much data about your database. Information such as:

  • Date of birth/ anniversary,
  • Spouse/ partner/ children’s names
  • Hobbies
  • College attended.

The list can go on, but you want to collect information that will enhance the relationship you have with them. From this data you will always have their preferred beverage ready for them when they visit the office, you will be able to send birthday and anniversary cards and you’ll be able to talk to them about their children’s college fund when the time is right.

You will also store the details of previous conversations and meetings, so with one click of your mouse you know exactly what was said, by who and when. It’s also a great way to make sure you can cross selling services at upcoming meetings.

For your marketing efforts a good CRM is critical. Here you will store all known data including referral source and where you met them. You will also use the CRM to automate components of your marketing plan. You will need to create the steps, but once created you can rest assure every prospect will get the same level of follow up each and every time.

There are a number of CRM providers out there. Unfortunately the CRM modules that come with your tax and accounting suite are often not robust enough; and at the other end of the extreme, dedicated CRM packages often have too many bells and whistles that don’t integrate well with your current databases.

Some providers to check out include Office Tools Professional which provides CRM as a part of their integrated practice management software; Act!, Maximizer & Goldmine are well know dedicated CRM software packages; and Salesforce.com and Zoho.com are web-based CRM applications (Zoho.com is FREE!). Outlook is not a CRM, nor is excel. If you’re serious about marketing ( as well as superior client service) then a quality CRM is an important component of your marketing infrastructure.

Please let us know if you would like to discuss CRM in greater detail.

 

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Marketing is only as good as your: LIST

June 6th, 2012

We’re often asked what is the most important element of a marketing program. We believe there can’t be just one, instead there’s a few things that firms need to get right for their marketing to be effective. On the list is: THE LIST.

Too many firms don’t pay proper attention to cultivating a pipeline of prospects. They fall into the trap of buying a list, mailing to them once and when nothing happens they give up never to use that list again. Alternatively each partner hordes business cards and puts them in the bottom drawer never to see the light of day again.

For your marketing to be effective you need a good list. First step is define who you want on the list – you may have a couple of lists. Then you need to build it. You might buy one from a listing company, you might round up all the loose business cards in the office or you might grow your list guerrilla style and using yellowpages.com or manta.com, collect names of your target audience.

Set a goal for the firm. Maybe it’s add 100 names a month and give a prize for the person who adds the most names. Or it might be the job of your dedicated marketing person to spend 20 minutes everyday adding 5 names from web searches.

Your marketing ROI will improve as the quality of your list improves.

Now get to it!

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Posted in Management, Marketing

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We all could do with a few more referrals

May 24th, 2012

Great blog post from Jean Caragher of Capstone Marketing that I thought was worth sharing.  Accountants typically identify referrals as their greatest source for new business, and here are her 12 tips for more referrals.

1. Identify the attorneys, bankers and other service providers of your current clients. Then, make contact with these referral sources.

2. Evaluate your current referral network. How are you keeping track of your activities? Who is sending you leads? This will help you prioritize who you need to spend time with.

3. Organize small scale networking events or mixers with referral sources you want to do business with. Invite a group of bankers (from the same bank) or attorneys (from the same firm) or both groups to your office or other appropriate venue to learn more about each other’s businesses and the types of desired new clients.

4. Provide networking skills training for your entire professional staff. Then, reinforce the training by accompanying them to networking functions and referral source meetings.

5. Teach your entire professional staff how to build their networks. Their base of contacts includes co-workers, clients, former clients, alumni, competitors, classmates, family, friends, neighbors, sports friends, parents and friends of their children, and church or synagogue contacts.

6. Collect client testimonials to use in your promotional materials, proposals, and website.

7. Remind your clients that you are interested in new business referrals. The best time to ask is after receiving a compliment.

8. Add networking activities to the performance evaluations of your entire professional staff. Reward them for success.

9. Research the organizations in your market that correspond with your client base and where you need to be seen. Then, be seen.

10. Call people in your network to see how they are doing, invite them to lunch, or discuss a current event in your marketplace. Haven’t talked to them in a while? If you’ve worked together before follow up to ask about the results of the project. Ask for their advice. Or, simply say, “Something reminded me of you …”

11. Ask for leads! Be sure that you have a description of the types of business that you’re interested in to help your referral sources.

12. Support your face-to-face networking with a LinkedIn profile. Be sure to coordinate your LinkedIn strategy with your firm’s overall marketing strategy. Be consistent with your firm’s description, etc.

As I was reading the post I was reminded of the great book, Breakthrough Business Development, which suggested instead of using the term “referral” switch to “introduction” or “recommendation” especially with clients. Their research and experience suggested that clients felt pressured when the term referral was used, however they were much more inclined to introduce their CPA to someone. Give it a go and see how it works for you.

I was also reminded of the great interview I did with Jean maybe last year. Below if the first track of Yes! You do need marketing.


 

 

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Video Catapaults you up the Search Rankings (Oh and Enhances Your Brand)

January 24th, 2012

Read a great newsletter from the folks at BizActions about how using videos can enhance your brand. Video, as a marketing medium, is especially important given the high-tech world in which we live. It also recognizes that people have different ways of learning or being engaged by content. Some people like to read their information, some like to hear it while driving and others enjoy videos. A good marketing and communications plan has all of these elements.

What the newsletter article doesn’t emphasize enough is the role that video, or more specifically your own YouTube channel, can have a dramatic impact on where your firm lies in the search engine rankings. YouTube is the second largest search engine in the world (behind google). That is people go to YouTube and search. Sometimes they search for videos of cats, other times they search for “how-to” videos. And it’s these how-to videos you need to be creating. The other benefit of your own YouTube channel is that you will appear more often in google like searches – pushing out the competition!

But back to the article. The good news is that your videos don’t need to be Spielberg-esque productions, and BizActions offered a couple of ideas to get you started.

1. Script and Content

Develop content that you find interesting. If you are interested in the topic, it will show through loud and clear on the screen. Great videos are often scripted and rehearsed in advance, but spontaneous and impromptu reactions from staff, clients or strangers frequently have the highest online appeal. A solid strategy is to do a combination of both formats. Interviews of company executives are an excellent way to grant your audience “behind the scenes” footage – be the first to break the news about upcoming changes to your viewers. Consider taking the most important piece of an article (in one minute or less) and discussing its implications on screen. Or reviewing the highlights of a current event or pending legislation.

  • Remember your audience is coming to you to learn. They have searched for ‘tax help,’ so make sure your content teaches them something, not just sells them something.
  • Do develop a script and rehears it until it sounds natural.

2. Lighting and Direction

Your video should be shot with the best available lighting, sound, focus and steadiness of the camera. Be mindful of controlling background noise when you can, such as turning off a television or radio if it’s not part of your scene. Have fun with the creative aspects – put on your Director’s cap when determining what to capture and how to capture it.

  • Buy a tripod – a good one shouldn’t cost more than $50.
  • Maybe also buy a lavaliere microphone for best sound quality. It doesn’t need to be wireless but you’ll notice a dramatic improvement.
  • Make sure your video reflects who you and your firm are. For example if you’re not a formal suit wearing firm, then please don’t wear a suit in the video.

3. Editing

Brevity is the gold standard. One minute and thirty seconds is the optimal length for web videos, and less than one minute is usually even better. If you have five minutes of high quality content, it will likely be more appealing if published as multiple shorter productions. A series of brief, concise and compelling videos will help your brand more than one long video that won’t be able to maintain viewership and attention. Don’t get too fancy with editing tricks. Your audience will forgive amateurish aspects of your video production, provided that the content is interesting and engaging. Be sure to publish video that makes you smile and makes you proud. What is in your video is more important than how flashy it is.

  • There is some good editing software out there for the do-it-yourselfers, however this might be where you want to spend some money; perhaps on a training course for someone in the firm.

4. Embrace Serendipity

One thing to remember when developing your own video content is that you just never know how good it may turn out. Sometimes, you get lucky and unintended circumstances contribute to your content having such wide appeal that it gets passed along and shared by many people. Embrace the idea that your videos need not be “perfect” and that you may not fully understand the elements that help a video “go viral”.

My only additional comment would be to ’key word’ it correctly. Think of the terms that people be using to find these answers.

BizActions do have some prepackaged videos you use on your website and in your newsletters. And they also offer additional advice on customized videos. Check them out!

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Get Set for Success in 2012 – Free Webinar

January 14th, 2012

My 2020 partners in the UK, Gordon Gilchrist and Ian Fletcher recently presented a Practice Management webinar for our European members and we’d like to share the recording with you. The webinar focused on:

  1. Increasing chargeable time by 20%
  2. Knowing how and when to re-negotiate fees
  3. Keeping jobs within budget
  4. Streamlining the accounts and audit review processes (cheaper, quicker, faster, better!)
  5. How firms are successfully differentiating fees between compliance and non-compliance
  6. When is it best to send out the invoices
  7. Invoicing the right way to improve recoveries by at least 7%
  8. The importance of “turnaround time”

With tax season looming, this webinar is designed to get you off to a flying start. While Ian and Gordon sound funny, they do have some great ideas that will result in greater growth and profitability. You might need some translation services, especially when they discuss some of the resources, so please do give us a call.

Stream this webinar now.

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Posted in Client Management, Management, Marketing, Member Resources, Seminars, Videos

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Become a Famous Person

October 13th, 2011

One of my biggest challenges that I give to CPAs is to become a famous person. A famous person is someone who is a recognized expert in their field. However for accountants this does not mean becoming an expert in tax and accounting. Unfortunately becuase CPAs have the 3 letters CPA after their name it is presumed (rightly or wrongly) that they are an expert on tax and accounting.

CPAs have to work harder to become famous. We need to be experts at tax and accounting for a targetted audience; and the more targetted the better. For example I became an expert on credit unions. Later I became an expert on all things tax and accounting for non-profits in the Performing Arts. At 2020 we have firms that have specific audiences such as dentists, government contractors, small privately held businesses, fast-food restaurants and the list goes on.

Once you’ve decided on your audience, you need to go through a process of getting known in the industry. Writing articles for trade publications, speaking at events and commenting on blogs are all great ways to build your profile. Another way to build your profile and become famous is to be quoted in the press.

The good news is that it’s not as difficult as it sounds. A member recently sent me to the website www.helpareporter.com. Help a Reporter is a database of expert sources that media outlets can call on for expert opinions. You register and get opportunities sent to your email address based on your expertise. That’s the free version. You can also pay a nominal monthly fee to build a profile that journalists can search. For $19/month, this is a proactive way to get your name out there. Who knows what will come of it. Maybe nothing in the first 12 months, but how much is a quote in a national news source worth – certainly more than $228 a year. Local journalists also have access to Help a Reporter for more localized opportunities. Again for a nominal amount the potential exposure is worth it.

WARNING: This is not to be entered into lightly. Journalists are deadline oriented and need quotes/sound bytes/ opinions quickly. If you do not respond to their requests in a timely manner it will negatively impact you chances of getting called upon again.

So why not have someone in the firm register. And share the load. If something does come up and you’re in a CPE course (I know you’re checking your email during these classes) forward it to someone else in the firm t

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Time to Think Marketing Again

April 16th, 2011

With tax season completed, it’s now time to focus on marketing. This is a perfect opportunity to make sure your marketing systems are functioning properly. As a reminder, give this list of questions to the person in charge of marketing.

Are we sending new clients welcome letters?

Are we sending thank you letters to clients who made referrals?

Are we sending thank you notes to referral sources?

Are we sending birthday cards or anniversary cards?

Are we subscribing to our client’s trade publications?

Are we sending mid- year and year-end tax planning letters?

Are we sending out logo’d scratch pads, calendars or other similar items?

Are we regulalry going to lunch with our referral sources?

Are we regularly going to lunch with our key clients?

These aren’t difficult activities to coordinate, but with activity comes results. It may not be anyone activity but rather the combined effort of all the activities. Marketing is every one’s responsibility and the above list is a great starting point for everyone in the office. And make sure you have a robust CRM system to collect and manage all the data.

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Get Marketing With the 2010 Tax Organizer

January 5th, 2011

This 4 page tax organizer is a great way to attract new clients. Here are some ideas for your marketing efforts:

  • Send to new homeowners
  • Insert the organizer into the local newspaper
  • Ask your current clients to pass it onto a friend

Of course you can use the tax organizer that is generated by your tax software, but I always find them extremely cumbersome, and they obviously can’t be used for prospective clients.

Premium members can download the 2010 Organizer from the premium resource section. You’ll need to insert your logo and contact details before you send it to the printers. We use www.wigtonline.com for our printing needs (much better quality than vistaprint). Regular members you can update the 2009 organizer found in the regular resource section. Premium membership is $35 per month. Find out more information about premium membership.

To get the new homeowners in your county contact Barry Weiner (barry@homeown.org) at www.homeown.org. 2020 members will get a special rate.

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The NEW New Business Kit is Here!

December 20th, 2010
The New Business KitThe New Business Kit (formerly The Successful Business Kit) is a turn-key marketing tool to promote your firm. It’s promoted as a comprehensive guide to the financial, tax and accounting considerations of starting a new business. It’s the perfect giveaway to current clients and referral sources as well as a great call-to-action for prospective clients.
 
The cost of publishing has decreased dramatically, allowing you to publish your very own New Business Kit for less than $4 per copy. On-demand sites such as www.createspace.com have no set minimum, so you can order 10, 50 or 100 of your very own book.

Every marketing piece must have a call to action and this $4 professionally published book is perfect.

Members: $150
Non-Members: $200

When you buy the NBK you receive the rights to reproduce the New Business Kit, the data files and a step-by-step publishing guide to customize, upload and publish your own book. You will need particular editing software (such as Adobe Illustrator and Adobe Acrobat) or access to a graphic designer. Alternatively you can utilize our customization services. 2020 Customization services include:

  • Internal customization – CA only
  • Cover Customization – All States
  • Publishing Customization via www.creatspace.com – All States

Each service is $100 for members and $150 for non-members (per service).
Download Order Form

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Pre-Tax Season Marketing

November 13th, 2010

Now is the perfect time to be marketing for new clients! In fact we’ve just started our own New Homeowners Marketing Campaign – which year on year is our most successful client acquisition activity.

This year we had 964 new homeowners in our 10 mile radius, and right now they’re receiving the first letter of the homeowners series. The first letter is a simple ‘welcome to the neighborhood‘ which will be followed by the ‘free tax planning‘ letter in late November/ early December. Premium members can access two versions of each letter in the Premium Resources. The Tax Organizer and marketing post cards are still to come. Forgot your password? Click here.

Here are a couple of tips to help you get the most out of your New Homeowners Marketing Campaign:

  1. Think about your ‘call to action’ – what is going to make people pick up the phone and call YOU? For example tax planning, a profit improvement consultation or the New Business Kit.
  2. Make sure you have a screening script to weed out low-end, price sensitive prospects (Member’s Resource**). Train your team appropriately.
  3. Be ready to book appointments. Dedicate a particular time and day for prospective client interviews. Maybe even offer a drop-in tax planning center on Saturdays or the evenings.
  4. Be consistent – follow the program to the end. The end is the final postcard on April 1.

A complaint I have heard is that new homeowners are often one-time clients. And yes that can be true if you let it. Have your client selection criteria ready to make sure new clients fit with your firm profile. We pick up a handful of great business clients each year as well a lot of really good individual clients who are delighted when we talk to them about wealth management.

We use www.homeown.org and 2020 members will get a special rate. Contact Barry Weiner (barry@homeown.org) to find out how many new homeowners there are in your neighborhood.

Please give me a call if there’s anything we can help you with. We love to talk!

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