Only twenty short years ago, branding strategies were the exclusive domain of large, blue chip companies.

Today, branding is being embraced by a growing number of entrepreneurial professional practices and other small to mid-sized businesses.

The Internet was the impetus for this sea change. It made it possible for professionals to market their firms within the scope of an accessible budget. As a result, professionals can now effectively market online via websites, search engine optimization, social media marketing, e-newsletters, podcasts, videos, blogs and press releases. In combination with a focused offline marketing effort, these online options make it feasible for a professional practice of any size to create a marketing plan that is poised to deliver impact.

Nevertheless, it’s not as simple as ‘if you build it, they will come.’  Having a website, a brochure or a newsletter does not necessarily predict added benefit for a professional practice.

Research shows that the attention generated by signage, websites, brochures and other forms of advertising is driven by brand image, even in the case of widely recognized brands. A business’ brand image largely determines whether its associated marketing will succeed.

An accounting firm’s brand image thus has enormous power and influence. It is fundamental to a business’ ability to elicit trust, a quality of paramount importance to every professional practice. Consequently, it is also the key to maximizing ROI on any marketing initiative.

Whether it is by design or by default, every firm has a brand image. It is found in the logo, tagline, text, style, colours and imagery (or lack thereof) of the firm’s public face. It is the subliminal voice that speaks through a firm’s professional work and marketing materials. It telegraphs how prospective clients will be treated and implies the talent, knowledge and skills the firm will deliver.

Beyond that, brand image also communicates the personality of a professional firm. A brand image informed by the unique character and substance of the firm it stands for is a brand image positioned to elicit trust.

To illustrate this discussion, let’s look at a case study that explores the branding process and opportunity.

Case study: Re-branding an existing firm

Allan started his Toronto-based, accounting practice five years ago, as a sole practitioner. In that time he experienced considerable success and has since hired three people. Over the last three years, his efforts have been heavily focused on maintaining service quality, to complement the recent and rapid growth the firm has experienced. Notwithstanding the small size of the firm, he had spent a considerable amount of time establishing processes and training younger hires.

The firm reached the point where it was operating smoothly and clients were consistently happy with services rendered.

Allan was hoping that he could now take the firm to its next level. He wanted to generate more consulting files, as they would help to balance workload and cash flow more evenly throughout the year. He also wanted to establish a higher profile in the sectors within which the firm had considerable experience.

Allan’s firm had no shortage of marketing materials, but whenever he considered how to develop the practice, he would ultimately hit a wall. His current materials simply did not provide the tools he needed to maximize his firm’s potential.

Allan decided it was time to seek advice. He asked for input from a couple of trusted clients, his staff, his peers and a marketing consultant.

The input he received ranged. One of his clients suggested that he offer seminars. A colleague noted that Allan could simply make better use of his existing website, business presentation and brochure. Finally, the marketing consultant suggested that while Allan was using the right marketing vehicles, the message they delivered was not positioned to produce the desired effect. The consultant suggested that he consider re-branding the firm and updating all existing marketing materials to reflect this new branding strategy.

Re-brand the firm?

Allan needed to give this idea some thought. He asked the consultant to provide a proposal detailing every step of the process.

A week later they met to review the proposal, which accounted for:

1. Communication strategy

2. New logo

3. New firm tagline

4. New letterhead, business cards and signage

5. Facelift to the firm website, brochure and business presentation

6. Positioning statement

7. ‘Elevator pitch’

They discussed the branding process itself, and in particular, the firm’s future communication strategy. The consultant explained that the communication strategy would be the foundation for the brand strategy.  Rather than simply identify the types of services offered by the firm, it would be essential to identify how the firm’s services are unique and why his clients value them.

She explained that the branding process requires a truly introspective analysis of the firm. This ensures the resulting brand will not only be authentic, but that it will also transcend the obvious by getting to the root of the firm’s unique value proposition.

Allan and his inner circle of advisors concluded that the re-branding strategy appeared to be truly aligned with his practice objectives and he decided to move forward. Once the process began, it was illuminating for Allan to see the large gap between the original, generic brand message and the firm’s intended unique message. The firm stood for one thing and, quite unintentionally, its brand image stood for something entirely different.

When the new logo and tagline were finalized, Allan developed a greater appreciation of how this re-branding process would deliver an additional benefit that would be the key to his practice development efforts.

Confidence.

The new branding message was clearly focused on what Allan’s firm was doing right. Furthermore, participating in the process assisted Allan to gain deeper insight into his firm’s ongoing successes. It was one thing to deliver quality accounting services. It was quite another to be able to explain, in just a few seconds, how and why his firm consistently helped to solve its clients’ problems.

Once the new branding strategy was in place, the firm’s inertia around practice development dissipated. Allan felt the tools were in place to move forward with his rainmaking agenda and he began to make regular sales and promotional calls.

He found that the re-branding strategy enabled him to quickly connect with like-minded prospective clients. Prospects seemed to have an immediate handle on what Allan’s firm stood for. Initial consults were thus focused on defining future business relationships.

Six months post-launch, Allan concluded that the re-branding strategy had completely turned around the firm’s sales process. The decision to re-brand had been validated. Beyond that, it improved the firm’s collective pride in its accomplishments and contributed to a renewed motivation among its professionals and staff alike.

Allan’s desire to take his firm to its next level was finally within reach. His solid, capable accounting practice now projected an authentic image with a demonstrated ability to elicit trust among its current and prospective clients.

That was where he wanted his firm to be.