Whether you’re running a small operation or one that employs dozens of people, your CPA business plan should include a well-rounded marketing strategy. Without a strategic plan in place, you’ll end up running in circles instead of progressing toward your original goals. This is the point at which many CPA businesses falter, largely because they resort to throwing things against the wall and desperately hoping that something sticks.
Fortunately, you can avoid this unenviable fate. The most important thing is to set a new course right away. Here are 7 steps you should take to grow your CPA business into something you can be proud of.
Step #1: Formulate a Long-Term Marketing Plan
First, you’ll need a detailed marketing plan that lays out the factors it should include and how you’ll need to manage it under changing conditions. The beauty of a detailed marketing plan is knowing what matters and what doesn’t. A well-designed marketing strategy will also help organize your thoughts in a way that’s conducive to your company’s long-term growth.
CPA firms tend to struggle when they fail to make these detailed plans. There will always be a high demand for great CPAs, but that doesn’t mean your success in the industry is guaranteed. In fact, many companies fail to tap into the market because owners stand idly by hoping everything will work out. A comprehensive marketing plan that’s applied consistently will help you avoid this fate.
The marketing plan should take your current situation into account. It should also include provisions for things like budgeting, expenses, and the methods you’ll employ to track down new leads. This is the best way to ensure that your marketing plan helps sustain your business.
Step #2: Establish a Strong Social Media Presence
There’s just no avoiding it anymore– social media is a part of doing business in the digital age. You’ll always be a step behind the competition if you fail to utilize the various social platforms out there.
Here are the platforms you should focus on:
Strategic use of these platforms is necessary to building up your company’s client base. A strong social media presence will help your business stay ahead of the competition by keeping it in the public consciousness. Potential customers want to be able to engage with businesses directly these days, and social media platforms are the best way to facilitate these up-close encounters.
Use a strong social media presence to stay engaged with the buying public and you’ll bring in new leads daily. Believe it or not, Your small business accounting firm can benefit from blogging by providing valuable insight into the accounting process. Constantly updating your blog with high-quality content will in-turn increase your sites traffic and drive more leads to your CPA firm.
Step #3: Start Networking
Good networking is a critical part of any successful CPA firm. This is because networking connects you to other businesses and helps you reach out to potential new clients. Even if you’re not actively seeking out new clients, it’s still a good idea to stay connected with entities that might someday generate revenue for your business. Industry conferences and seminars are forums where you can network the right way. Put yourself out there as often as possible and you’ll start reaping the rewards of networking quickly.
Step #4: Run a Few Workshops
Accounting workshops are a great way to attract new clients because they respond to their desire to learn more about handling their money. Set up a one- or two-day workshop that gives participants free advice from a qualified CPA and you’ll go a long way toward attracting new clients.
Workshops also help establish you as an authority in the accounting industry. And becoming known as an authority will help jump start your marketing campaign. In an overall sense, workshops demonstrate a high level of sophistication and help distinguish you from your competition.
Step #5: Offer Free Advisory Services
There are times when you can use a loss leader to get people into your door. Everyone loves a good bargain and free services will give potential clients a long look at what your company can do. Go all in on these advisory services and you’ll showcase your skill set in a way that persuades clients to sign on with you.
Even snagging one or two clients can turn out to be an important victory. The hard work you put into free advisory services will eventually pay off in the marketing realm and cement your reputation as a trustworthy CPA.
Step #6: Emphasize the Quality of Your Website
The first thing a potential client will do once they discover your business is visit your company website. In fact, most of your leads will come from online resources like social media, SEO, and SEM. Therefore, you want to build a great website and target the most relevant keywords as soon as possible.
This is a strategy that’s designed for the long haul, but success these days depends on making a first impression that’s good enough to woo new clients. Done properly, these practices will give your CPA business a huge boost and help it flourish in ways you never thought possible.
Step #7: Learn to Delegate
Good delegation is a key component of any well-run operation. For proof of this axiom, look at any successful enterprise and pay close attention to how they operate daily. Most likely, you’ll notice that their management teams delegate tasks in a way that lets them focus on coordination and bringing in new clients.
You should use the same approach to your own business. To generate new revenue streams, it’s important to delegate everyday tasks to your employees. This is the best way to make sure you’re spending your own time wisely.
You’re bound to encounter obstacles when trying to grow your CPA business. In fact, these challenges are an integral part of doing business no matter what industry you’re in. Make sure to design a marketing strategy that’s both clear and easy to follow. Your plan should also be able to track your business’s current position and redirect it whenever the need arises.
Implement your strategy consistently and you’ll gather all the data you need to thrive in your area of expertise. The CPA business is not for the faint of heart, but owners who work hard and stay focused have the best chance to succeed.
About Lena Georgiev Consulting Services
Lena Georgiev provides accounting, bookkeeping and tax solutions that fit the needs of small businesses and individuals. Lena also has project management as well as life coaching skills which help clients with organization and real life advise. Call now for a free estimate on services!
Email: [email protected]
Phone Number: 847-420-8242
License Title: Registered Certified Accountant in the state of Illinois
License ID: 239.002263