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Practice Management

The Laser Approach - Increase Your Networking Techniques

Always begin with the phrase "You know how" followed by a couple of common problems your clients normally experience. Then follow up by saying, "What I do is" and continue with several key points, benefits or value propositions as to how your product or service solves these problems. For example, if you are a consultant, you can say, "You know how some businesses experience poor staff performance and productivity which can wind up costing the company time and money?" Allow the person to respond, demonstrating you have their attention and they are interested in what you have to say.
Community News

Be Recognized For Your Firm's Ethics

America is experiencing a crisis of confidence in the way business operates. A wave of scandals is impacting public trust across the entire spectrum of the marketplace as consumers, employees and stockholders question whether they can trust businesses to adhere to high standards of behavior.
Community News

Ten Tax Season Media Opportunities

By: Terri M. Sommella, President, Sommella Market StrategiesAccounting firms have a great opportunity to leverage the media exposure the profession is afforded during Busy Season. Here are 10 events which afford an opportunity to send press releases and a few tips on making the releases more newsworthy: Speaking Engagements - Speaking engagements warrant press releases especially if an engagement is open to the public as in a Chamber of Commerce presentation.

Study Looks at Investor Relations Web Sites

What do potential investors really want from an investor relations Web page? To find the answer, Jakob Nielsen, a researcher from Fremont, CA-based Nielsen Norman group, conducted a research study to assess user response to information on corporate Web sites. The study had 42 potential investors look at the Web sites of 20 companies, including Home Depot, Johnson & Johnson, Pacific Sunwear of California, Symantec, Starbucks, and UPS.

H&R Block Swaps Ad Following CPA Backlash

Last month H&R Block launched an ad campaign that angered many accountants. The ads, seen by some as disparaging to CPAs, encourage taxpayers to choose H&R Block over a CPA for the preparation of tax returns. A letter writing campaign in protest of the ads was initiated by the AICPA.
Community News

Getting More Business From Existing Clients: The Mine Beneath Your Feet

By, Bruce W. Marcus The Marcus LetterInherent in every client may lie a way to mine as much as 20 percent more business than you have now. That mine is a source of more business that you should expect to get from existing clients. The technique is a process that you should be using anyway for client service, client relations, and client retention (which, by the way, are three different things).

Cross Selling Helps Your Clients

By, Melinda Guillemette, Marketing ConsultantCross-selling is proposing to a current client the use of another of your firm’s services. Perhaps a tax client needs a financial plan or estate plan; perhaps an audit client’s employees need training on their accounting software; maybe a management consulting client needs to update his technology. Each of these cross-selling scenarios could result in solving thorny problems for your client. No partner enjoys hearing a client say “I didn’t know your firm did that!” after the client has purchased a service from someone else.
Practice Management

Practice Idea: Semi-Annual Client Check Ups

Guest Author: Michael Platt, AccountingWEB, Inc. Every six months you go to your dentist for a check up, and probably have done so for years. You do this because your dental professional encourages it, and because you know it's the right thing to do.
Community News

H&R Block Returns to The Super Bowl

Last year it was the Beatles' 1966 classic "The Tax Man" that served as the focus of H&R Block's first Super Bowl ad. This year the tax preparation company is returning to the high-stakes Super Bowl ad wars with a different music twist - humorously poking at the tax troubles of country legend Willie Nelson.Nelson is well known for his run ins with the IRS over the years.

20 Reasons to Put Your Business on The Web

By NET 1011. To Establish A PresenceApproximately 790 million people worldwide have access to the World Wide Web (WWW). No matter what your business is, you can't ignore 790 million people. To be a part of that community and show that you are interested in serving them, you need to be on the WWW for them. You know your competitors will.2. To NetworkA lot of what passes for business is simply nothing more than making connections with other people. Every smart business person knows, it's not what you know, it's who you know.

Twelve Mistakes Professional Service Providers Make in Marketing

Excerpted from: How to Master the Art of Marketing Professional Services, by Allan S. Boress, CPA, CFE Since 1980, we've observed the mistakes of thousands of professionals in marketing themselves and their practices.If you can avoid these errors, your marketing effectiveness will improve dramatically.Mistake #1: BEING PASSIVE.It's a fact: the great majority of professional service providers and consultants ignore marketing altogether. They're too busy "getting the work out" to invest time, thought or (heaven forbid) money into marketing.
Practice Management

Compensation 2003 – Making it Work For Your Firm!

By Sandra WileyWhen you looked at the title to this article, did you cringe and say to yourself – “I don’t want to think about compensation again!” I can’t blame you; it is a very daunting subject when you are talking about partner and staff compensation. The subject becomes even more challenging as you look forward into 2003 and the economist are all saying that the economy will most likely be moving sideways well into next year. We have to look at compensation strategies that make sense to our firm and continue to motivate staff at the same time.
Community News

Blow The Lid Off The Old Way Of Accounting

By, Neil GuilmetteMarketing - Business owners are sophisticated and demanding today. Economic conditions have created a focus on value provided, and the availability of abundant information has expanded their knowledge of business in general. Further, partly as a result of the profession’s own educational and marketing efforts, business owners tend to perceive CPAs’ services as all being the same, and CPAs’ themselves as interchangeable with one another.
Community News

Positioning Your Business To Attract More Clients For The Most Profit

By, Joe Heller, The Strategy SamuraiToday's challenge economy has capsized a lot of businesses, sinking a few more before the economy's ebb and flow stabilizes and business can regain their footing. As such, an organization must choose its sales leadership with great consideration to grow profits and build long-term revenue. This is one of the most turbulent years contracting profits and revenues, causing a paralysis for business after nearly a decade of year over year growth.

How to Promote Your Business With Seminars

By FeatureSource"The single best thing about using seminars to promote your business is: people to pay to be prospects," says Fred Gleeck, author of "Marketing and Promoting Your Own Seminars and Workshops" (Fast Forward Press, $14.95). Gleeck claims that, "Any business, regardless of size, can be promoted effectively with seminars." In his book, "Marketing and Promoting Your Own Seminars and Workshops," Gleeck shares his best advice on how to market and promote your own seminars, workshops and events: Never give seminars in July, August and December.
Community News

PwC Announces Its Global Code of Conduct

PricewaterhouseCoopers continued its pace-setting drive with the second in a series of unprecedented public relations moves. The firm announced its adoption of what is believed to be the accounting profession's first global code of conduct. This step follows closely on the heels of the firm's release of a first-ever 'showcase' annual report earlier in the week.Samuel A.

Small Business Blues - An Open Letter to CPA Firms

By, Michael Platt, AccountingWEB, Inc.In my role at AccountingWEB, I am in the fortunate position of working with CPA firms and with small business owners on a daily basis. As you can imagine, the relationship between the two as described by one group is not always the same as the relationship as described by the other group. So listen up accounting professionals.

Four Basic Rules For Growing Your CPA Firm

By Steve McIntyre-Smith, President, MarketingForAcountants.comIn days gone by (and, yes I am old enough to remember them) a Professional Accountant NEVER did any marketing. In fact, it wasn't even allowed in most countries until the mid 1980's, and even then, only in a very conservative and restricted manner.Once open for business one simply put a brass nameplate outside one's office, had a letterhead and businesscard printed, called a few Bank Managers and other contacts and the work started to flood in.

Free Client Tax Planning Letter From RIA

Accounting publisher RIA offers the following client letter for free for practitioners to use or adapt to remind clients of the need for year-end tax planning.

Developing Entrepreneurs: Emulating The Right Role Models

Excerpted from: Building Entrepreneurial People by Allan S. Boress, CPA, CFEIntroductionNew business is the lifeblood of every CPA firm. Some firms today are being forced to merge with other firms, are being bought out under less than desirable circumstances, or are slowly going out of business before the partners' eyes because not enough new clients and new work are coming in.


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