Environment For Accountants In 2011
Most UK companies are finding things tough at the moment, as the financial crisis of 2008 has left many businesses struggling, accountancy firms are one business group that have not really been affected.
The problem that many accountants find is that businesses very rarely swap or change accountants, so picking up new clients is hard work. Businesses may change a website designer, or delivery firm, but changing accountants is not something that is normal practice.
Finding New Clients
Most accountants prefer to have large or medium sized clients (rather than new companies, startups or sole traders) as the annual fees are higher; however as most businesses do not chop and change accountants, lead generation is hard. It is very much a case of taking what you can get rather than picking and choosing clients; which for many accountants is frustrating.
Prospecting for new business is hard work; different to many forms of sales whereby a target is identified and approached; with accountancy this is different, clients come to you, not the normal sales process.
This makes the sales process a unique and specialist one that needs a unique breed of marketing zest.
Sales Process For Accounts
Rather than the traditional kind of marketing approach, reactive marketing or networking works better for accountancy businesses.
Reactive marketing would be conducted by letting as many businesses know you are there, so that as and when an opportunity comes up, they will think of you. This could be done by advertising, sponsoring business events or by direct marketing to each business. Direct marketing will be difficult (telemarketing, e-marketing, mailing) as response would depend very much on the need (catching someone at the right time). Reactive marketing could be internet advertising or having a website that appears high for relevant search terms that incoming enquiries are plentiful.
Networking is popular with most accountants as many businesses do tend to ask friends or family for recommendations. Breakfast meetings, online networking forums are used by many accountants for this very reason and do seem to work quite well.
There are specialist agencies that offer marketing for accountants and do have a specialist knowledge about how to help to both create a brand and also help to generate new clients.
Choosing The Right Marketing Specialist
As the marketing and sales process for accountancy businesses and bookkeepers is such a specialist and unique one, care needs to be taken in choosing the right marketing company. For this reason, selecting one that has worked with businesses in the sector before, that understands the sales process and has a track record of producing results.
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