Looking to grow your accounting firm? This is a fiercely competitive industry so it is important that you are always looking for ways in which you can grow and compete at a higher level.
Many accounting firms struggle to attract new business which can be incredibly frustrating and make it hard to stay afloat at times. The good news is that there are always solutions and ways in which you can grow your firm, attract new clients and boost your profits. So, if you are looking to make positive changes and take the next step with your accounting firm, then read on for a list of effective strategies.
Improve Client Relationships
Being able to retain your clients and cross-sell (more on this to come) is crucial to success in the accounting industry. This means that you need to find ways in which you can improve your client relationships in addition to providing an excellent service at a competitive rate. The best way to strengthen relationships is to spend time getting to know clients and their business operations, including challenges they are facing which you may be able to help them with.
Seek Reviews & Referrals
Following this, you should also make sure that you ask for reviews and referrals from your existing clients. Reviews are one of the first things that people look for when choosing between businesses so you need to collect positive reviews, and then put these on highly visible spaces, such as your homepage and on social media. You can incentivize referrals from existing customers with discounts and other benefits.
A smart strategy which will help you to both attract and retain customers is to add to your range of services. Your clients have more needs than accounts and providing these services can give your business a significant boost. A few options to consider include:
- Business formation services
- Legal filing compliance
- Bank loan preparation
If you cannot provide an additional service yourself, then you could always use a silent partner or look to expand your business and hire a team that can handle these areas.
SEO is a highly effective digital marketing strategy which can help to increase your reputation, brand awareness, and direct more traffic to your firm’s website. You can then use a domain authority checker to see the strength of specific pages and how likely it is to perform well in search results lists. From here, you can then make any adjustments if necessary.
Social media provides you with the ability to promote your accounting firm and show your expertise in the field. It is an incredibly powerful platform but one which few businesses use effectively. You need to create varied, relevant and engaging content for your target audience which will help to develop your reputation and encourage people to use your firm.
The accounting industry is one which is fiercely competitive, so it can be hard to stand out from the crowd and get noticed.