Marketing

A&A

America's New Breed of Millionaire: How to Find and Sell to Them

By Kerry L. Johnson, MBA, PH.D. He probably wears a $50 watch. You won't see him on a yacht. But you would find him in his office commonly until 7:00 p.m. (even on Saturdays). He is more interested in his local rotary club than the polo matches.She uses her bank more for making investments than for borrowing. She would have been Robin Leach's last choice for a spot on "Lifestyles of the Rich and Famous." She is more interested in her family and coupon clipping than in champagne and caviar dreams. Sound pretty average, right?

Prudential Securities Named in Marketing Timing Complaint

Massachusetts Secretary of State William F. Galvin has charged Prudential Securities with late trading of mutual funds, a practice employed by some in the industry to bolster wealthy hedge fund customers.The practice has put the mutual fund industry under the microscope in recent months as regulators crack down on tricks used to help the wealthy and the mutual fund companies at the expense of the small investor.
Community News

How to Write a Press Release For Your Firm

One of the most effective ways of promoting your business is by using public relations. And one of the best tools that small businesses have is the press release. An article that is written from your press release in a newspaper, ezine or magazine, or is covered on radio or television will carry more credibility with the public than an ad that you can buy in the media. As an extra kicker, once it's been published you can pay to have it reprinted as an advertisement.
Community News

Seven Barriers to Becoming Customer Focused

By Sonia Cottrell, Marketing and Business Development, Deloitte, New ZealandSuccessful companies today are the ones that revolve their business around their customers. They focus on adding value by designing processes such as technology, training and employee compensation systems to support a strategy of customer-centricity that penetrates all areas of the organization, resulting in a concerted effort towards providing superior value.1.

Who Should Bear the Risk of Client Retention?

By Howard Holmes, CPAIn my experience, I have come across many horror stories regarding client retention. There are so many disaster rumors running rampant, it is a wonder that any practices are transferred at all. I'm here to set the record straight as a 20-year veteran of accounting practice sales brokering. Client Retention: The Real Story:The truth is that under circumstances involving an average amount of care and common sense, client retention for a new owner can be close to what would been experienced by the previous owner.
A&A

Tips on Conducting a Successful Firm Summit

by L. Gary Boomer, CPA, Boomer Consulting, Inc.I am sure your first question is "why a firm summit and not a retreat?" Retreat gives the connotation of looking to the past and moving backwards. Summit sounds "grander" and should involve a broader base of participants. It also is the beginning of the process that will differentiate your firm from the competition. The purpose of a firm summit is to bring leaders and members of a firm together along with outside expertise and facilitation in order to create strategies for improving the firm.
Practice

How To Get Better Client-Centered Referrals

To get the best referrals, you need more than naturally occurring word-of-mouth. You need to have a program to actively elicit referrals from a number of services.You may think that clients will just give you referrals because they like you or your service. However, it doesn’t always happen this way. To have a top practice, you must do more than produce good work and wait for referrals to follow. Some clients are more likely to give referrals than are others. When you identify someone who is liberal with their referrals, cultivate them.
Community News

Practice Differentiator: Written Guarantee To Clients

Brown Smith Wallace, LLC, a locally-owned CPA and business consulting firm in Missouri, has completed a re-branding process, which includes issuing a written guarantee to reinforce the values, traditions, and commitment to their clients.

Keys to Successful Customer Service

Customer service skills are for retailers, not accountants, right? Wrong. Whether you sell shoes, surfboards or your skills or your firm's skills, your business depends on paying customers ... and the only way to keep customers is to provide them with friendly, helpful and professional service.If you remember only one customer service rule, make it the Golden Rule: treat your clients the way you would want to be treated yourself.
Practice

Life as a CPA: Business Development

By, Melinda Guillemette, Marketing ConsultantAfter all the business development buzzwords and tactics (web sites, brochures, seminars, articles, speeches, coaching, motivating, compensating and on and on) have dulled to a whisper, a few simple things remain. It boils down to a few fundamentals to understand about life as a public accountant, and a few outcomes that will result. Here are ten everyday realities about being a professional in a CPA firm:Know that being a good accountant means a lot more than understanding the technicalities.
Practice

Introducing a New Service: Putting the Cart Before The Horse?

If you work for a firm that is contemplating offering a new service, consider using the expertise of your marketing director from the beginning. While a new service may seem like a good idea, you may not have the market for it. It’s also a good idea to have a clear strategy as to how to get the market it once the new service is in place, and this is where your marketing director’s knowledge will become invaluable.Don’t surprise your marketing director with the news of, "We’re introducing this new service.
Community News

Make Your Marketing Brochure Worthwhile

Designing a brochure for marketing purposes is a delicate balance between creativity and a narration of what exactly your company does. Before you run the risk of turning out a brochure that has no direction make sure you have the right professionals in place to put your brochure together.A brochure is a great way to introduce a new service to clients (the service becomes a tangible in their minds when they can see it and read about it).
Practice Management

How to Use Referrals

Reprinted with Permission from By Kerry L. Johnson, Ph.D. It's Carl's sixteenth cold call. He's had fifteen rejections in a row. "There must be a better way," he says to himself. "I might as well be calling right out of the telephone book." As he dials, his secret hope is that he'll get either a busy signal or no answer. He wonders if there's a job that doesn't create so much emotional distress. There has to be a better way!If you're still making cold calls to get business, you undoubtedly don't enjoy it. There is a better way. Learn how to use referrals.
Community News

The Value of Proactive Service

Clients want a proactive accountant. They want you using your expertise to look out for their interests and bring them benefits that they didn’t know to ask for. By being proactive, you show your initiative and you create added value.Reactive service gives you fewer opportunities to thrill clients. You have to wait until they ask for something. When you reach out, you not only have more control, you get more credit for taking the initiative. Proactive service thrills clients.For instance, at the new Park Hyatt Hotel in Japan, many staff members have two-way radios.
A&A

E-Mail Marketing Help For Small Business

Press ReleaseThe U.S. Small Business Administration and Topica Inc., have announced a series of free, live online “webinars” about e-mail marketing strategies, entitled “E-mail Marketing for Small Business.” The first of the 60-minute webinars will be held September 3, at 2:00 p.m. (Eastern Time).

Frustrations of a Rainmaker - There’s More Than One Way to Make a Splash!

By, Gale Crosley, CPAIf you’re like most rainmakers, you are happiest when the skies open up and opportunities pour down faster than you can reach out and grab them. And you are most frustrated when you see others seemingly unable to do what’s relatively effortless for you. Understanding why this occurs is the first step to eliminating frustration. But you also may wish to consider a paradigm shift that involves changing your perception of "who can make rain," breaking business-building into component parts that can be championed by many.
Practice

Networking Made Simple - Develop New Business Opportunities

Networking is an important way to develop new business opportunities, yet for many professionals it's their least favorite marketing activity. These pointers can help you network better and get results. Listen, don't talk. Don't drink. This is business. Choose your opportunities. Hunt where the ducks are. Don't be generic. Rehearse a 30 second pat statement that reveals some details about who you are as a person, what you do for a living, and what your firm specializes in. Target only one person at each event and get to know them well.

Words, Words, Words, Diluting Value – One Cliche at a Time

By Bruce Marcus, author of The Marcus LetterIt’s amazing how quickly important words become jargon, and how soon after that their meanings become diluted and distorted. Marketing -- particularly professional services marketing – seems to cherish words and phrases that originally had substantive value and meaning, but have now been diluted and turned to mush. Their value as describers of sound marketing practice has been completely diminished.
Community News

Building Name Recognition to Attract New Business

Fundamentally, there are two ways to sell services.You can go to the market and try to influence companies to buy your services. Or, you can get the market to come to you and ask for help, which is usually preferable to non-professional sales people.The big question is: With all the competitors in the marketplace, how do I get companies to seek out my firm?Building your firm’s name recognition is the key. The market can’t come to you if it doesn’t know you.There are four stages name recognition.

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