The accounting industry is a niche domain, catering to businesses and individuals with financial service requirements. Hence, how accountants market their services is also somewhat different from others.
With the emerging technologies and the evolving market trends, marketing strategies have evolved as well. A lot has changed for accountants, but some things still remain the same. Some age-old marketing methods are still prevalent in today’s world, generating a considerable amount of revenue for the clients.
Since the client base is limited for accountants as compared to a B2C company or other domains, the accountants must ensure that their marketing strategy is robust and efficient.
Let us look at some of the ways in which accountants can market and sell their advisory services to potential clients.
1. Request For Referrals
Although an age-old method, client referral is still one of the most effective ways that can help an accountant attain new clients.
The classic “word of mouth” still has immense power in the marketing world. There is no better alternative to a peer recommending a service to you. For instance, if you want to buy a car that is already owned by your friend and he/she tells you that it runs well, you are subconsciously lured into buying that car. That is how human psychology works.
However, for a current client to refer your advisory services to their peers, they should be delighted with you first. For that, you have to offer them best-in-class services so that they make extra efforts to put a word out for you in their circle.
Moreover, often, the clients think that you have your plates full, with regards to the client list. Do not make the mistake of assuming that the clients will refer you automatically as they are happy with your services.
Request clients to refer your advisory services, so they know that you are looking for new clients. You can also build a referral program, offering them special offers and incentives.
2. Expand Your Circle
Being around the same group of professionals cannot be good for your business. Being an accountant, you should try to expand your circle and build connections with professionals from other domains as well, not just the accounting industry.
Try to build connections with professionals like lawyers, investment bankers, and technological experts, etc. and share their ideologies and market insights. Moreover, you can attend seminars and conferences (not related to accounting specifically) and have a dialog with other industry experts.
As your network grows and more and more people get to know you, they will not hesitate in opting for your accounting services.
3. Use The Power Of Social Media
No one in this day and age can deny the power of social media. Every facet of society is in awe of social media, but only a few realize its implication in the business world.
All social media platforms, be it Facebook, LinkedIn, Twitter, or Pinterest, can be used to share your ideas and expertise on topics, whether, accounting-specific or general. Once you become a thought leader or an influencer on social media with a notable following, potential clients will start coming in automatically.
Social media is a great stage to build trust among the users. You can write articles, share your views on the latest developments in the accounting industry, communicate with users, satisfy their queries, etc.
In addition to building a strong online presence, social media will help you understand the requirements of the users better.
4. Be Flexible In Offering Services
Every business is different. So, how can the requirement of each client be the same?
The entrepreneurs, when opting for advisory services, expect that the accountants know the finances of their business by the back of their hand. They also hope the accountants to give them personalized services to focus on the financial subtleties.
Hence, as an accountant, you cannot have a definite plan for your advisory services. You need to identify what the client is asking of you and go about the services accordingly.
5. Price Your Services Smartly
As an advisor, you should be able to offer services at a reasonable price. Remember that, in the end, it all comes down to pricing.
You can offer clients with a few months of free consultation so they can analyze your services. Pricing also depends on other factors like the type of services, size of the business, location, among other aspects.
Moreover, you should also refrain from adopting a time-based billing method. You are offering clients with your expertise and helping them grow their business. Advisory services should not be evaluated on the number of hours spent.
6. Build A Killer Website
What do you do when you want to buy something? You go online search for what you want and visit the first website you see. The same case applies to advisory services.
In this age of the Internet, a website is not the window where the clients can get a peek of your services. It is like a gateway to your office where the clients can get every piece of information they are looking for.
However, it is essential to have a website that not only makes the users aware of your advisory services but also convert them into clients. For that, you have to make sure that the site is optimized for content and design.
A Trusted Advisor Is An Asset
Advisory services have become a must for every business to succeed in the market. However, the accountants that have moved on to an advisory role are not many. Hence, there is a demand for trusted advisors in the market.
Still, the need to market the services is non-negligible. Showcasing your expertise in a convincing way converts prospects into clients. Moreover, it also helps you build trust among people and increase longevity in the business.
What marketing methods do you use as an accountant? Let us know in the comments section
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