Accounting firms that are beginning to embrace marketing are finding there are a lot of options to sort through and more isn’t necessarily better. Here are some of the issues we hear about most frequently from our clients:
- “As accountants we are schooled in planning. But working on our own marketing plan has proven to be challenging. We don’t have the training to navigate our choices.”
- “We have lots of ideas but we need someone to help us pull it all together into one cohesive action plan.”
- “The individual accountants participating in the implementation of our marketing plan are willing, but hesitant, to move forward. We need to build confidence in our direction to get more buy in.”
- “We’ve been having discussions about how important marketing is to the firm’s future. But the team remains divided.”
- “All of us are on LinkedIn and we occasionally get articles published or go out and do seminars. But it’s a bit erratic and doesn’t seem to make a big impact. It seems like a waste of our expansive network.”
The value of a marketing plan to an accounting firm:
If your firm is experiencing any of these scenarios, it may be time for some planning.
Aside from the obvious benefits – a strategic approach to pursue your practice development goals and a solid business case to justify your budget – a marketing plan can also have other positive, unintended consequences critical to an accounting firm’s success. It can be the first and most decisive step towards developing a meaningful mission and vision for the firm. As well, a marketing plan that accounts for the individual interests and talents of participants can tap into the motivation that’s critical for implementation.
“…her starting point of understanding was well ahead of most… she spent the time to get to know me personally – where my strengths lay, and what type of marketing I would be comfortable with…” Stansbury& Company, Doug Stansbury, CPA, CA
Despite the value of a marketing plan, it’s equally important to stay nimble and responsive, to reassess and adjust on a regular basis. The right balance between formal planning and entrepreneurial spirit is key to minimizing risk and maximizing opportunity.
Marketing and management for accounting firms:
To discuss how we can work together to build and enhance your CPA, accounting, investing or actuarial firm, contact us for an initial consultation, in the Greater Toronto Area (GTA) or via web conference anywhere in Canada.