Introduction
Are you an accountant seeking ways to attract more clients? In this guide, I will provide you with valuable strategies on digital marketing tailored specifically for accountants.
The world of accounting has been greatly influenced by the digital age, and adopting a digital marketing strategy is crucial to stay competitive.
By leveraging digital channels, you can reach your target clients, generate more leads, and close deals more effectively.
I’ll dive into the world of digital marketing for accountants and explore its benefits and the various strategies I have used to help some of the world’s top accounting and professional services firms, such as Deloitte, EY, PwC, Bain & Co, and RSM in winning more clients and projects.
Through these experiences, I’ve learned something that will probably come as no surprise to many.
Generally speaking, professionals, whether they are accountants, lawyers, or consultants, tend to struggle with sales and marketing.
Even the partners.
Professional Reticence
Many accountants (in particular) are more comfortable showcasing their skills and dedicating their time to billable work rather than engaging in outbound business development activities.
To address this issue, several years ago I created a comprehensive online training program called ‘StormMakers’, that helps professionals become more adept at winning new business – from ‘contact’ to ‘contract’.
The goal of the program was to enhance partner-track professionals’ business development abilities and thereby create a team of ‘rainmakers’ so the firm was not overly reliant on a couple of key senior partners for new client acquisition, resulting in a ‘revenue storm’.
Unfortunately, the program met with some resistance. Why? The answer is quite simple.
Accountants, in particular, are averse to selling.
Many rely on the hope that by delivering high-quality work to their existing clients, those clients will refer them to new ones, allowing their firms to grow organically.
While this occasionally occurs, it seems to be more of an exception rather than a rule which means smaller firms in particular find it difficult to scale.
This led me to rethink my approach to how I help accounting firms grow.
Rather than trying to build a team of rainmakers from professionals who naturally resist outbound sales/business development, I realised it would be far more productive to use digital marketing techniques to help them generate a steady stream of inbound leads and enquiries from prospective clients who were actively searching for a new accountant to help them.
In today’s digital age, it’s entirely possible to run digital marketing campaigns that generate significant, consistent new client acquisition for accounting firms focussed on growth.
I’ll offer some suggestions on the types of digital marketing that can lead to new clients and consistently higher revenue later in this article, but before I do, let me pose a question.
Is digital marketing right for all accounting firms?
The short answer is no.
However, I’ve identified four types of accountants that should consider digital marketing as one of their primary growth levers:
- Those seeking to create a succession plan
Smaller firms are traditionally founder-led. However, when the founder wants to retire or exit the firm, he/she needs to create a steady stream of new business that can ‘feed the firm’ in their absence. Digital marketing can help with this.
- Those with an ageing client base
Some smaller firms rely on a core set of clients that they have had for many years. In some cases, there can be a danger that that client base is getting close to retirement or a sale of the business. Digital marketing can help attract a newer set of clients that will keep the firm growing for years to come.
- Newer firms hungry for growth
New accounting firms that have a surplus delivery capacity and are keen to quickly grow their client base can benefit from digital marketing.
- Firms looking to improve the ‘quality’ of their client mix
All accounting firms have a mix of client types. Some clients are easy to work with and highly profitable. Let’s call them ‘A’ clients. Some clients are difficult to work with, require a lot of time to manage and are less profitable. Let’s call them ‘C’ clients. ‘B’ clients are somewhere in the middle.
Digital marketing offers accountants a plethora of tools and platforms to enhance their visibility, engage with their target audience, and establish themselves as industry experts so they can attract more ‘A’ clients and ‘retire’ their ‘C’ clients.
The Significance of Digital Marketing for Accountants
Accountants have traditionally relied on word-of-mouth referrals and offline networking to grow their client base. However, as the world becomes increasingly connected online, a strong digital presence is crucial for accountants to stay relevant and competitive.
Digital marketing offers unique advantages, including:
- Increased visibility
With most people conducting online research before making purchasing decisions, having a strong online presence ensures that accountants are discoverable by potential clients.
- Targeted advertising
Digital marketing allows accountants to precisely target their desired audience based on demographics, location, and specific interests, resulting in higher conversion rates.
- Brand building and reputation management
Through social media platforms, accountants can showcase their expertise, share valuable insights, and build credibility, establishing themselves as trusted advisors in their field.
- Cost-effectiveness
Compared to traditional marketing methods, digital marketing campaigns are often more cost-effective, offering a higher return on investment for accountants.
Effective Digital Marketing Strategies for Accountants
- Responsive and Professional Website
A well-designed website is the cornerstone of a successful digital marketing strategy. It should be user-friendly, visually appealing, and mobile-responsive. The website should highlight the accountant’s expertise, and services offered, and provide valuable resources for potential clients.
- Search Engine Optimisation (SEO)
Optimising the firm’s website for search engines increases its visibility in organic search results. Accountants should focus on relevant keywords, meta tags, and quality content to attract targeted traffic to their website.
- Content Marketing
Sharing informative and valuable content through blogs, articles, and eBooks establishes accountants as thought leaders in their industry. Content should address common pain points, offer solutions, and provide insights into the latest accounting trends.
- Social Media Engagement
Creating profiles on platforms such as LinkedIn, Facebook, and Twitter enables accountants to engage with their target audience, share updates, and provide quick responses to queries. Regular posting and sharing of relevant content enhance visibility and foster client relationships.
- Reviews and Reputation Management
In today’s digital landscape, the vast majority of your potential clients conduct web-based research on your firm prior to contacting you. Google calls this the ‘Zero Moment of Truth’. A significant part of this research includes reading your firm’s online reviews. This underscores the significance of favourable Google reviews in shaping potential clients’ perceptions of your accounting firm. The presence of those five golden stars next to your firm’s name often serves as the decisive factor that prompts them to click, email or phone
- Pay-Per-Click Advertising (PPC)
Running targeted PPC campaigns on platforms like Google Ads enables accountants to appear at the top of search results for relevant keywords. This strategy can yield immediate results and generate qualified leads.
Key Benefits of Digital Marketing for Accountants
- Increased client acquisition
By leveraging digital marketing strategies, accountants can expand their reach, attract new clients, and convert leads into long-term engagements.
- Enhanced client retention
Regular communication through digital channels fosters stronger client relationships, leading to improved retention rates and repeat business.
- Competitive advantage
Establishing a solid digital presence enables accountants to stand out, demonstrating their expertise and unique value proposition.
- Measurable results
Digital marketing allows accountants to track and analyse the effectiveness of their campaigns in real-time. Key performance indicators (KPIs) such as website traffic, conversion rates, and engagement metrics provide valuable insights for future optimisation.
Conclusion
It is possible to create a consistent stream of inbound enquiries for your accounting firm using digital marketing techniques. If your firm lacks internal digital marketing capabilities we can help.
We specialise in helping growth-focused accounting firms scale with digital marketing techniques designed to help you win more clients and revenue.
Click here to schedule a no-obligation introductory call to discuss your growth objectives for your firm.
