Accounting firms in Boston and other Northeast cities found 2013 to be a challenging year for finding and keeping new clients. A majority of large firms increased the time, effort, and money they spent on marketing, and smaller firms were not far behind.
Forecasts for 2014 predict another challenging year, with more firms entering the race for new clients. Firms that take a proactive approach to landing and keeping new clients, however, will have a clear leg up on the competition.
How can your organization land new accounting clients in 2014? Consider the following tips:
- Know why you’re seeking new clients. Is your organization trying to increase market share in an existing market? To expand into a new market, whether in terms of geography, industrial specialty, client type, or service offering? Answering these questions gives you the information you need to strategize well.
- Describe your differences. What skills, competencies, offerings, or reputation factors set your organization apart from your competitors? Capitalize on these to build a public brand and make your organization’s name stand out among the types of clients you want to add in the coming year. Put yourself in your prospective clients’ shoes: determine what qualities matter most to the type of client you seek to attract, and focus on these.
- Tap into your existing client base. According to a study by the American Institute of CPAs (AICPA), accounting firms spend approximately eleven times more to bring in a new client than to keep an existing one. Work hard to exceed the expectations of existing clients and to build the kind of relationship with existing clients that encourages your clients to recommend your organization’s services.
- Talk to your staffing partner. An accounting firm’s people are its toughest, most resilient, and most valuable resource. Creating a strategic staffing plan that seeks out the right people allows the firm to focus its abilities on client satisfaction, which leads to increased business. Your staffing partner can help you create a plan that draws top accounting talent to your organization.
At Daley and Associates, our experienced recruiters help our clients find the top financial talent they’re looking for. If you are looking for accounting recruiters in Boston MA, contact us today.