| This CPA Marketing Challenge is of interest to many startup firms: I was a CFO at a software company, moved back into public practice which I haven't done since college. Been a year now and have 5 accounting clients. How do I attract business? |
Accountancy Marketing Challenge |
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CPA Marketing Challenge: headline here | |
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CPA Challenge: "I was a CFO at a software company, moved back into public practice which I haven't done since college. Been a year now and have 5 accounting clients. How do I attract business?"This CPA Challenge is about from O.N, who is a CFO newly started his accounting practice. Dear O.N., Thank you for the challenge. Your CPA Marketing Challenge was: "I was a CFO at a software company, moved back into public practice which I haven't done since college. Been a year now and have 5 accounting clients. How do I attract business?" Essentially, there are a few "hidden" barriers to acquiring new accounting clients. First and foremost, the average accounting / CPA client simply does NOT understand the service he receives. This is due to his lack of knowledge in accounting procedures and financial planning. Additionally, the necessity to use accounting services - to keep books, to file annual reports, taxes, collect sales tax and whatnot - is enforced upon him by legislation, and not something he does voluntarily. I'm not taking a stand for or against taxation or legislation here, merely pointing out that anything we are ORDERED to do under threat of punishment does NOT bring about POSITIVE feelings. Thus, we have TWO main factors here, both of which make the average business owner negative about all that has to do with accounting. He doesn't understand the information he receives from his accountant and he doesn't like having to pay for it. Subsequently, he feels negative about his accountant TOO although it's illogical. YOU are there to HELP him handle these demands set by the government, YOU didn't legistlate those laws, right? Right you are... but here enter the frailties of human thinking where it is based on negative emotions. "I don't know and I don't care" becomes the "defence" against any sensible advise from the accountant.
WHY THEY DON'T CHANGE ACCOUNTANTSAs things stand, the "negative ignorance" out there about accounting ensures that business owners do NOT CHANGE accountants easily. Let's compare it to a car and the difference becomes evident. Everyone is eager to change their car, provided the car isn't brand new and they can afford to change... and often even when they can't. Why? Well, because a new, better, bigger, faster, fancier vehicle represents POSITIVE things. They UNDERSTAND the values that come with a better, newer model of an automobile. Status, pride of ownership, pleasure of the ride, sense of fulfilment... all positive things. Now, let me assure you that research shows most business owners are DISSATISFIED with their current accounting services. And yet, they DO NOT WANT TO CHANGE ACCOUNTANTS. Not only would it be "free of charge" (as the new service would not cost that much more than the one they're already paying for) but the BENEFITS of a better service would far outweigh any problems of transition... you'd think, right? But it's not so. It's not so because they're negative about accounting and emotions take over. We all know that where people react emotionally, logic goes out the window. We make silly decisions if upset... and some say we make equally illogical decisions when in love. Be that as it may, the fact remains that the operating principle with most business owners in this matter is... "...better the devil you know than the one you don't." Believe it or not, THEIR basic thinking is that "all accountants are the same so why go into the trouble and expense of CHANGING?" "Once you've seen one accounting professional you've seen them all," in other words. This lengthy explanation actually shows WHY you (like most other accounting professionals) find it so very difficult to acquire new clients. The problem is that you offer "an identical accounting service" (as seen by business owners) so they don't see any reason to CHANGE. You don't change a dollar to a dollar... that's the logic here on their part. To create interest for your services in order to sign on new clients, you need to offer something BETTER.
HOW DO YOU GET THEM INTERESTED IN CHANGING OVER TO YOUR ACCOUNTING SERVICESLet me dispense of a myth first: You don't make a difference by using superlatives about your own skills and superiority. See. EVERYONE does that already, so that's NOT DIFFERENT. Quite the contrary... by using the traditional marketing & presentation methods only serve to prove conclusively that you're THE SAME as their current accountant. He, too, did just that. He told them how great he is, how good his services are... and now the business owner KNOWS it was all "not true." What we have to understand here is that the human thinking evolves around self-made truths. What's true for him is true... and that's the long and short of it. The problem here is that if you try to reason with someone whose self-made certainty is based on a negative FEELING, they just refuse to accept "your truth" and the more you try, the more they'll stick to their view... and the harder it becomes to convince him or her otherwise. So the solution is that you DON'T try to "talk sense" to them at all. Instead, you let THEM tell you how "useless all accountants are..." The way this is done involves quite a lot of skill though. It needs to be done so that the prospect realises on his own a few things along the way. The exact method of doing this successfully is documented within the Modern Accountancy Marketing Course in form of ready-to-use tools (letters, interviews, etc.). The good news is you don't need to figure out HOW it's done... you only need to USE the tools and that WILL do the trick with most prospects. Of course, included are tools to acquire PROSPECTS too, for you need to have a way to create interest toward your services so that those you contact can instantly "get a feeling" that YOU are very much DIFFERENT from "all the accountants."
WHAT TYPE OF ACCOUNTING SERVICE MAKES A DIFFERENCE TO BUSINESS OWNERS?In a nutshell, what you need to offer is really right up your alley having worked as a CFO. In fact, the accounting service that WILL make a difference, will ensure business owners PERCEIVE value and HAVE A REASON FOR CHANGING accountants is much the the same as what you did on your CFO post. The only clear-cut difference is that as an accounting service to small-to-medium sized businesses, it is presented, sold, delivered and charged for differently. But otherwise, the service IS the type of financial monitoring and reporting / keeping the client updated on the development of his fiscal year as what you know to do so well. Again, the way you present, sell, deliver and charge for it is explained in detail in your Modern Accountancy Marketing Course, all in form of ready-to-use tools with instructions AND troubleshooting tools so you cannot go wrong. Here's the thing: In order to tempt anyone seriously into even considering changing accountants, you need to have them realise that YOUR service is really something positively DIFFERENT in its benefits and usefulness. Accounting is all about generally accepted procedures but ONLY where the technical aspects of accountancy are concerned... NOT the marketing of the service, NOT the way you formulate various addional services in order to ADD VALUE to your accounting for the client and give him the assistance and information he finds USEFUL. In marketing, you cannot prosper by following what your accountancy colleagues do.
THE CHOICE PRESENTED TO EVERY ACCOUNTANT IN PUBLIC PRACTICEIn today's marketplace, the accounting industry is faced with a choice. With the onslaught of online solutions, software, cheap offshore accounting services from third world countries, the traditional bulk of accounting services are competed to the ground in terms of price and profits. No way can you compete with your Indian colleagues who pay 2-3 dollars per DAY for a bookkeeper. Those ROUTINES that accountants used to perform before there were software and online alternatives are rapidly becoming SO competed on the price that it's just NOT worth it. Within the next few years the only thing that keeps you competitive is your KNOWHOW. If you begin to sell your financial EXPERTISE then the routinely tasks will come to you as a consequence. If you insist on selling the performance of ROUTINES then I'm afraid you will find it increasingly difficult to get clients, to say nothing of being able to CHARGE a proper hourly rate for your services. So in one way it's a frightening picture of limited resources about to vanish into the realm of accountancy online / software / third world competitors whose costing structure is totally different from the traditional practice's with all its overheads and whatnots. But on the other hand, the future can be extremely bright, successful and full of promise if you begin selling your KNOWHOW, your advisory service, your "financial mentoring" assistance... that type of thing. And that's exactly what your Modern Accountancy Marketing Course is all about. It aims ONLY at that goal, giving you tested and proven systems, tools, and instructions on how to approach companies with THAT message and deliver advisory services... and get the routinely tasks on the bargain from each client. As a CFO, you'll be like a fish in the water with this system because it's what you've been doing all along. O.N., we currently have a very good offer on the Modern Accountancy Marketing Course if you take all 12 parts at once. I recommend you examine the presentation of this system as I know it will give you the way to increase your client-acquisition AND also up the average income and profits from each new client. If you have any questions about the system or the data above, please don't hesitate to email me. Alternately, if you've already read the presentation and want to utilize the special offer, you can log onto our secure server directly to place your order. O.N., thank you for your challenge and I hope this reply gave you some ideas on how to acquire more new clients. I don't see any reason why you could not secure 5 new clients EVERY MONTH, provided you use the tools within your Modern Accountancy Marketing Course.
Best wishes, Harry Kafka |