Marketing Accounting Services: Where Do You Start?

Tons of people seek accounting firms and bookkeeping services for their financial matters, but the problem is there are hundreds of you offering the same kind of services. The tight competition among local and international firms makes it more challenging to get as many leads as you can. You need to stand out among the rest to be able to do so, but the question is how?

Marketing can help your accounting firm grow. We know the ins and outs of the accounting industry as well as the challenges accounting firms face, which is why we understand that generic marketing advice may be as effective as it is when applied to your situation. 

We can teach you how to market your accounting practice. Our goal is for you to be able to kickstart crafting marketing strategies for your accounting firm by the end of this guide.

PART I: The Accounting Marketing Funnel

Every marketing plan begins with the client’s journey. It is a process where the client discovers your service, becomes more aware of it, considers and evaluates it, and decides whether to purchase it or not.

Now let us relate it to your accounting firm’s client.

1. Attraction

The funnel usually begins with the potential client’s awareness that they have a problem. Problem awareness leads to the desire to understand it.

For example, small business owners with missing receipts may not be interested in the solution yet, but they do research to understand their problems: 

“Do missing receipts impact my business?”

In order to attract your audience, you must be able to demonstrate your industry knowledge and expertise through informative and educational content that will help them understand their problem. This will establish your credibility and build trust.

2. Capture

The next step to marketing for accountancy firms is capturing your clients. Now that you have led them to your website through informative content, the second goal is to have them give their information to you.

How do you do it? Be the solution to their problem, but not right away. Desperation in sales put off clients.

First step is to lay out the solutions to their problem: “what to do if my transactions are missing receipts?” Let them ponder about the provided solutions and decide what their next actions would be. 

3. Nurture

In order for them to purchase your services, present yourself as the solution. A simple nudge like, “We can help you with your bookkeeping and ensure every transaction is recorded to maintain transparency,” should convince your potential clients that they can benefit from you.

Let them get to know you. Slowly introduce your services, your principles as an accounting firm, and how your firm has been able to help people with similar challenges as them. Not only does it build trust, but you also get to interact with your client, making them feel that your intention to help is genuine. (Advise first, sell later)

In this stage, you may encounter people who are not ready to purchase yet. This; however, does not mean you wasted your marketing efforts. It is crucial to pull them back and nurture them more by communicating through newsletters, email marketing, etc, for re-engagement. On average, it could take eight touches to make a sale or generate conversion. But it could be as many as 13. 

Remember, in marketing strategies for accounting, being desperate is a no-no. Present yourself as the solution and let them decide if you are the right firm that can help them, especially since they are also exploring other accounting firm options.

4. Convert

At this stage, your potential clients are ready to act. They are ready to purchase a solution, and most likely, they have considered your accounting firm over the other options, thanks to your strategies for marketing for accounting services on the capture and nurture stage.

They are ready to request a demo, inquire about quotes, or speak to someone from your accounting firm, all you have to do is to trigger them. Make sure to have a call to action button. Ease the friction on your client inquiry process by optimizing data collection processes and simplifying sign-up forms.

You can apply other strategies to secure sales, such as presenting outstanding proposals, providing support, and more.

5. Retain

Your client’s journey does not end when you finally make a sale from them. Individuals and businesses need to file taxes annually, so as much as possible, you want them to return to you every year. 

The key to securing their loyalty to your firm is to maintain constant communication and interaction with them post-sale. Email marketing for accounting firms is an effective way to communicate with your current client. Through email, you can inform your clients about your new services, announcements, newsletter subscriptions, and more.

Besides email marketing for accounting firms, another way to retain clients is to make sure your firm has fantastic support. They may need your advice from time to time, so it is important that you are reachable, especially during business hours. 

Lastly, you can win the loyalty of your current clients by offering exclusive perks to them, such as discounts and free services.

Now that you know your client’s journey, it is time to determine who your clients are.

PART II: Marketing For Accounting Firms: Knowing Your Market

No matter how much we like to think that content marketing for accounting firms is an effective way to magnet leads, it is not always the case. There is great importance in knowing your market as it ensures well targeted marketing efforts. 

Accounting firms have a broad range of target markets. There are the freelancers and small business owners, and there are also the bigger clients, like affluent families, high net worth individuals, and large businesses and corporations.

Ideal Client Profile

Client profile is a detailed description of a semi-fictional person who represents your ideal target market or audience.

Your accounting firm can have multiple client personas. Below are examples of client persona for accounting firms:

Profile 1: A small business owner and operator of a landscaping business who needs help with business bookkeeping and taxes. 

Profile 2: A physician who recently immigrated to Canada and needs help setting up her practice and filing her taxes for the first time.

Profile 3: A farmer who needs help in filing taxes and planning an intergenerational transfer of the business to his kids. 

These three personas have unique needs; hence the marketing approach for these three can be slightly different from one another.

How Can Client Profile Be Used In Marketing For Accounting Services?

The client’s profile helps you understand your client’s perspective and needs. You can tailor your message specifically for their needs; hence, they feel your firm is created especially for them. All of your marketing should be focused on attracting your ideal client profile. 

Here are the reasons why creating client profile is important:

• Tailor your content to something that relates and resonates with your target audience. Send a message you know your target market likes to hear. Use the language your clients speak.

• Improve and optimize your services based on your client’s needs.

• Have better engagement and interaction with your clients.

Using Profile 1 above, a small business owner of a landscaping service in Edmonton, Alberta, you can produce informative content, such as a step-by-step guide on social media marketing, since it is one of the cheapest marketing strategies effective in getting leads. Make sure your content is available in different formats, for example blog, newsletters, and printed journals, to accommodate tech-savvy and non-tech people.

How To Create A Client Profile

1. Examine Your Current Client Lis

The first step in creating a client profile is to identify your target market and gather information about them. 

Create your client profile based on your current client list, specifically those you think are most profitable, align with your services, and comfortable working with.

For example, if your target market is small business owners, start collecting demographic information about them. It may include their age, location, interest, spending power, size of business, and so on.

2. Know Their Needs

Now that you have an inkling of who your target clients are, it is time to identify their needs and goals. Know their pain points and the challenges they usually encounter and want to solve. Then, identify their goals and end-game.

Just observe your current clients. What common areas of accounting do they need your support? You can also interview them and ask for feedback.

3. Use Your Persona To Tailor Your Marketing Strategies for Accounting

Congrats! After combining all the information you gathered, you just created your first client profile, an immigrant who needs help setting up their medical practice and filing their taxes. 

This person is struggling with medical billing, especially to patients with insurances, which usually involves contacting insurance companies and pursuing payments.

Based on the data-backed persona you created, you can conclude that, as a practicing doctor, they may trust accounting firm referrals from friends and colleagues. Hence, strengthening your referral programs is a plausible way to reach them.

On the other hand, develop a content plan that solves their challenges. Publish articles relevant to their issues. Make it a point that your content is valuable to them.

When creating content, make sure to put your persona’s needs and goals in front, so they will keep reading your material and slowly build trust and credibility. Ask them how you can help. We can further expound on this in the next part: the marketing plan.

PART III: Building The Marketing Plan For Accounting Firms

There is no universal template for marketing plans, but we can help make your efforts on marketing for accounting services by covering the core components of a marketing plan. 

Unique Selling Point: The Key On How To Advertise Your Accounting Business

Thousands of firms and CPAs in Canada offer similar services: tax preparation, bookkeeping, and accounting; and you probably offer these, too. It all boils down to your unique selling point.

USP is a unique practice, characteristic, or benefit that sets you apart from your competition and makes you stand out. Here’s how to find your USP.

1. Identify Your Practice’s Distinctive Services

To create a niche for your accounting firm, make sure to showcase your distinctive services. Yes, you do taxes like any other firm, but what makes you different?

Perhaps you are more capable of handling international taxation and regulations than other firms. Maybe, you are an expert in agriculture taxation, which is one of the most complicated fields of Canadian taxes. Perhaps you specialize in helping advise high growth startups or in tax planning for mature family run private businesses. Find your niche that sets you apart.

2. Showcase The Benefits Of Your Service

Using the examples above, you can showcase that your firm can help minimize international taxes. Or that with your expertise in agriculture taxation, you can help farmer clients design long term and short term plans for their unique tax issues.

3. Realistic Goals and Timeframes

Marketing for accounting firms does not succeed overnight. But there are ways to generate results out of your marketing efforts much faster, such as launching paid ads on the internet.

The impact speed of your marketing efforts rely on your budget, resources, and strategies you invest on your campaign.

Marketing Strategy For Accounting Firms

Today, it is crucial for accounting firms to establish both online and offline presence. It is why many combine traditional and digital marketing strategies in order to maximize their exposure. In the next part, we will discuss all the effective marketing strategies you can apply to your accounting firm.

PART IV: Content Marketing For Accounting Firms

Advice first, then sell— this should be the top priority of accounting firms when launching their content marketing. Content is the best platform to demonstrate your expertise. 

Clients are confident working with an accounting firm that is credible, trusted, and has industry authority. And the best way to establish these characteristics is by educating them and giving valuable advice and information. It is the key to marketing accounting services.

Importance of Content Marketing For Accounting Firms

1. Lead Generation – Establish Credibility and Build Trust

People always search for information. Capitalizing on this need by producing informative, credible, and high-quality content will bring leads to your accounting firms.

If your target audience reads one of your articles on your website or printed newsletter, not only do they become familiar with your brand as a firm, but also convince them to act, like requesting quotes or booking a consultation.

2. Audience Retention – Build Relationship and Deliver Value

Your target audience will stick to your content if they have a good experience and satisfaction with it. They will look forward to more informative articles or video content for education, entertainment, and updates.

3. Industry Authority – Establish Thought Leadership

A common mistake most people make when creating content is neglecting the quality. Remember, your audience likes information that is helpful and informative. It is the reason why search engines like Google prioritize websites with high-quality content in order to deliver the best answers to users’ queries.

Higher ranking content gets the most exposure and click-through rates on search engines. Most importantly, your audience is more likely to trust your brand if they get credible information from you. Good content is the essence of content marketing for accounting firms.

What Makes Good Content?

We’ve been saying that high-quality content is the key, but what makes content high-quality in the first place?

1. Original

There are billions of content uploaded on the internet, and it is almost impossible to have original content. But there are ways to make your content “yours.”

The main content is a primary consideration of Google when evaluating a website’s page quality. According to Google’s Search Quality Evaluator Guideline, originality is a critical quality main content element.

• Be updated

There will always be new information, new statistics, and updates that are relevant to your content. Use them to keep your articles fresh.

• Have your own voice

Another way to make an article uniquely yours is to have a brand voice. Most accounting firms use a professional tone when writing, while others want to be more friendly. Inconsistent brand voice sparks skepticism about your firm’s authenticity.

• Give your two cents

Google follows the principle of E-E-A-T—Experience, Expertise, Authoritativeness, and Trustworthiness— when evaluating the quality of the content. You can apply these principles to printed publications, too.

It is advantageous to add your knowledge and insights on the topics you have first-hand experience and expertise in.

• Avoid plagiarism

According to Google’s Search Quality Evaluator Guidelines, originality is one of the four considerations for page quality rating for main content. Plagiarizing content often leads to duplication.

Duplication happens when your website has similar content to your website or other websites. Although Google does not penalize content, it can lower your search engine rankings. In some cases, Google can remove the affected pages if they also include manipulating tactics, such as spamming and keyword stuffing.

2. It answers questions and solves problems

A featured snippet is a short excerpt from website content that directly answers the user’s search query. It always appears at the top of the search engine results page.

As an accountant, your primary goal when producing content is not to sell but to educate, advise, demonstrate expertise, and build trust with your audience. 

Great content solves people’s problems. People surf the internet to search for answers, and you should capitalize on it. If the data shows many people searching how to prepare taxes, producing articles around it, such as tax preparation guides, mistakes when preparing for taxes, and important documents to have during tax preparation, will be helpful.

3. It Is Easy To Consume

It is a nightmare for content marketing for accounting firms to have horrendous blocks of text in the article. It is the best way to put off readers. 

Content is easy to consume if:

• There is a proper use of headings for article structure.

• It utilizes multiple formats, like images and videos.

• It is shareable to other platforms and downloadable.

• It is accessible using different devices and browsers.

Offline and Online Content Marketing For Accounting Firms

Content marketing is possible offline and online. Here are the most common materials for content marketing for accounting services:

Offline

• Speaking engagements

• Seminars

• Printed publications (newsletters, magazines, journals, brochures)

• Local media interviews

Online

• Blogs

• Newsletters

• Social media posts

• Infographics

• Videos

• Webinars

• Digital publications (whitepapers, case studies)

PART V: Digital Marketing for Accounting Firms

The internet provides a valuable amount of high-quality leads to your accounting firm. That is why many services are ramping up their digital marketing efforts for more leads. 

Digital marketing is marketing efforts through various online channels, be it social media, search engines, mobile apps, email, and more. SEO, website development, online listings, and paid ads are the most valuable areas digital marketing accounting firms can benefit from.

Search Engine Optimization

Search engine optimization is a set of practices that aims to improve your website’s visibility online by ensuring its high position on the organic search engine results page.

SEO’s goal is to ensure your website appears on the first search engine results page and ultimately on Position 0 organically.

Why is SEO important for accounting firms?

SEO is something you should not ignore if your accounting firm has a website. Simply put, this is how SEO works. When a small business owner is curious about getting a small business accountant, one of the things they would do is search Google for information, typing in “how to find a small business accountant”.

Google then generates results related and relevant to the keywords: find a small business accountant. According to Backlinko, the top result on Google gets 27.6% of the clicks whilst the click-through-rate for position two to ten ranges between 15.8% to 2.4%. Only .63% of users click on something on the second page of Google search results.

But how does Google decide which website to put as the top result? Google considers the combination of SEO elements, including:

• Keyword optimization of the website

• Website structure and useability

• Quality and relevance of the content to the query

Applying SEO practices help your website to tick all these ranking factors, hence ensuring your website ranks high on the search engine results page. 

Website Development

Having a website is the first step to establishing an online presence regardless of your industry. The number reason why your firm should have a website is to generate leads as most brand and service discoveries happen online. 

Another reason why many establish websites is to solidify their credibility. Let’s face it. In this day and age of digitalization, if your accounting practice has no website or even social media profile, it may come across sketchy, especially to Millennial and Gen Z audiences.

What are the elements of a good website?

• It has your contact information (email address, contact number, office address, etc)

• It is easy to navigate and user-friendly

• It implements SEO practices

• It is content-rich

• It has fast loading time

• It reflects your brand

• It has visually pleasing appearance

• It is accessible to any device

Online listings/profiles/presence/citations

Another platform to establish an online presence is online listings. Basically, it is like the digital yellow pages for specific industries. Online listings are platforms where you can submit your business profile, such as your business or practice name, website link, contact details, office address, and operating hours.

Local Directories

• Google Business Profile

Formerly known as Google My Business, GBP is a free business listing where companies and small businesses can create a profile and indicate their contact details, address, reviews, and operating hours. It also appears on the search engine results page.

Industry Directories

• CPA Guide

Social Media Directories

• LinkedIn

Paid Ads

You can get instant leads and yield faster results through search engine results and social media. How? Through paid ads!

The opposite of SEO, pay-per-click (PPC) allows you to secure top positions on search engine results pages (SERP) by bidding on keywords. Usually, the highest bidder for the keyword gets the highest SERP position, but Google may still take into consideration some SEO elements, including website optimization and website design.

The “sponsored” tag at the top of results means the websites used paid ads to rank high on SERP.

You can also bump your ads on social media, which is another great platform to get leads.

Now that we summed up the best-suited strategies for digital marketing for accounting firms, we can now discuss the local promotion or in-person marketing solutions you can use to market your accounting practice.

Reviews and Feedback

One of many reasons why brands and services encourage social proof, such as reviews, feedback, and social media shares and likes, is to build trust and encourage non-buyers to buy your products. According to Brightlocal, 98% of consumers read online reviews to learn more about your services. Meanwhile, 30% of consumers avoid buying products without any review on them.

Reviews and feedback on an accounting firm’s website.

The reviews and feedback that appear on Google Business Profile.

Social proof utilizes the human natural instinct to follow other people’s actions, and when done right, social proof can be a powerful way to attract potential clients.

Part VI: Local Promotion for Accounting Firms

Unlike the first two marketing strategies for accounting practices, local promotions will require you to talk more. Moreover, most of these examples are short campaigns, which basically could only last a few days, unlike content and digital marketing for accounting firms, which you should do consistently and maintain diligently.

Here are some examples of local promotion:

Referrals

Do you know why there are review websites or a website page specifically for reviews and feedback? It is because there is power in word of mouth.

Referrals are something you don’t underestimate. In a report by Social Media Today, 78% of B2B marketers believe that referrals generate good to excellent leads.

Clients only refer your service to another if they know you are fit for them. It is also an indication of trust and satisfaction with your brand and service. You can hugely benefit from it if your clients have high-value social circles.

Although referrals are generally free, having a referral program may require spending some. For example, you can encourage your client to refer your service to someone by offering them incentives.

Networking events

Networking events are a great opportunity to connect with your target market and peers in the industry. Examples of networking events are seminars, roundtable forums, mentoring fairs, and summits.

For example, if your target is young entrepreneurs and startup business owners, you can host or sponsor seminars or entrepreneurship summits. If there is a chance, you can be a speaker and teach them accounting-related topics beneficial to them.

You can also network with your peers and other accounting firms. It is a good way to widen your network in the industry, as well as, evaluate your competition.

Service-Based Social Welfare Programs

Local programs are a way to establish a brand image for your client and industry peers and connect with the local community. 

Hosting free tax clinics through the Community Volunteer Income Tax Program (CVITP) is a way to give back to your community, especially since many people need assistance with tax filing.

You can also have non-accounting related CSR programs, such as tree planting and philanthropic efforts.

PART VII: Retention: Securing Loyalty Through Marketing

The ultimate goal of marketing for accounting firms is to attract leads and convert them into sales. But it does not end with that. A lot can happen along the client’s journey, from attraction to conversion.

Once your prospective client has already done business with you, the next objective is to ensure they remain with post-sale. In order to do that, you must be consistent in serving their needs and giving satisfactory service.

Securing loyalty is a critical factor not only for accounting firms but for businesses in general. According to research by KPMG, 86% of loyal consumers of a brand will recommend the brand to their family and friends. Additionally, financial-wise, it is cheaper to retain customers than to acquire new leads.

If you are wondering what inspires retention and loyalty, KPMG identified the seven factors:

1. Product/service quality

2. Value for money

3. Product/service consistency

4. Customer service

5. Client experience

6. Product/service selection

7. Pricing

Here are some marketing strategies to help boost retention and loyalty:

• Stay in touch through email – Newsletter

For clients who have purchased your service before for this year’s tax season, you can encourage them to upgrade their plans or package for the next tax season. Communicate available services (if you add a new offering)

• Feedback

Asking for feedback makes your client feel their opinion is valued. It is an indication that you are committed to improving your service for the benefit of the client. 

For example, after the discovery call, you can ask your prospective client for feedback and why they are not ready to do business with you yet. You can get back to them after several months.

• Rewards

You can offer exclusive rewards to your loyal clients, such as discounts, rebates, and more. For example, you can have a block screening of a film for your clients and their family members exclusively.

• Human connection

Engaging with your clients through chat, email, or call regardless of the situation, be it responding to the client’s concern or just checking in with the client, enhances their experience.

The Next Step to Marketing for Accounting Services

Marketing is critical in growing your accounting firm. While there are tons of marketing tips to find on the internet, there is no universal marketing template you can effectively apply to your situation.

In this article, we have outlined the best marketing approach, specifically personalized for accounting firms. The next step is to map your own plan and execute it properly. Seeking professional guidance is a good start.

We can help you grow your accounting firm by ramping up your marketing efforts online. Here at The Digital Firm, we understand the challenges of accounting firms. Given our knowledge and experience in the accounting industry, we know how to market your accounting practice. We can give you personalized solutions that meet your needs.

Contact The Digital Firm today and let us help you grow your accounting firm.