The Perils of Competing on Price, Alone
On his blog CPA Trendlines this week, Rick Telberg features 12 Hot Growth Tips for CPA Firms from a few of us who are going to be speaking at the upcoming AICPA Practioners Symposium in June. The conference is going to be combined, for the first time ever, with the AICPA Tech Conference. Delegates that register for one can attend the other for FREE!
I'm going to be talking about marketing in the current price-sensitive business environment and how the web opens the door of opportunity for CPAs to affordably and effectively distinguish themselves. The web truly levels the playing field between solos/small firms and larger firms.
Here's what happens when you compete on price alone which is what you're left to doing when there aren't other distinguishing factors about you known to the buyer.
Rick quotes me:
“Without other distinguishing factors that buyers can readily see and know, clients resort to looking mostly at price for making their decisions,” she says. “This, in turn, drives down the firm’s revenues, which impacts the attitudes of those performing the work.”
Furthermore, “Without high enthusiasm for the engagement, customer service is not at its highest and this, in turn, reduces the quality of the customer’s experience, which makes them less likely to rehire the firm, and certainly less apt to refer the firm to others.”
“It’s a vicious circle,” she says. “Ironically, while the opportunity for firms to articulate and convey their distinctions via the Internet is more ripe than ever and costs almost nothing, especially relative to advertising, it is unfortunate that most firms are reluctant to embrace the advantages that the social media and an improved Web presence afford them.”
Golden aims to get firms hooked up. They need to “become more comfortable with the tools available,” she says, through “education to reduce fear of the unknown and thoroughly understanding the “real versus imagined risks.”
Come learn! The event runs Jun 6-9, 2010 at the Bellagio in Las Vegas.
Conference sites are: www.cpa2biz.com/ps or www.cpa2biz.com/tech. As a presenter, I can offer you these discount codes! For the Practitioners Symposium, use promo code SDG or for the TECH+ conference, use promo code SDJ.