Marketing can actually help you build your clientele and serve your clients with consistency and ethics. Although it may sound like a waste of time, marketing is essential if you are looking to effectively market your accounting/finance practice. The prospect customers need to get to know you and you should find cost effective, yet smart ways to promote your services and let your community know you are an expert in your field.
Here are some tips on how to market your accounting/finance practice.
- Target specific niches
Given the current state of the U.S and global economy, it is impossible to target everyone to offer your services. Having a well-defined niche will enable you to effectively compete with professionals offering financial services, but also to attract new clients. A narrower niche means specific demographics and psychographics as well as a great opportunity to sell your expertise. On the other hand, targeting a specific niche does not mean that you are excluding customers who do not fit your criteria. But, what you need to do is focus your marketing efforts and spend your marketing budget on people who are more likely to need your services rather than choosing a competitor.
- Have a strong presence locally
When trying to market your finance/accounting practice, you want people to get to know you and use your services. There are several ways to build a strong presence in your community and you can do that without actually spending too much money. You can join an online business listing in a local directory and cater for people seeking for a local financial advisor. You can enjoy the benefits of local newspaper advertising, which is low-cost marketing and can help you build a strong reputation in your area. Contact local clubs in your community and ask them to advertise your business on their regular newsletter or flyers. Introduce yourself to local business networks and let them know who you are and what kind of financial/accounting services you provide. Check out the U.S. Chamber of Commerce for events and speeches taking place in your community. Speak to people you consider ideal clients.
- Use “word-of-mouth” advertising
According to Nielsen, 82% of Americans seek recommendations from friends and family when considering a purchase, whereas 67% are more likely to use a product or service if someone they know has shared it on a social media account like Facebook or Twitter. The power of word-of-mouth advertising is immense. Although it is not limited to specific industries or demographics, certain age and income level groups are more influenced than others, while 95% of people between 18 and 34 years old are looking for an incentive to advertise a product or service through their social media accounts. All these statistics show that you need to make your customers trust you so that they recommend you to their network of family and friends. You may also offer a free initial consultation to referral customers as an incentive so that they get to know you and understand your services before deciding if you are the one to guarantee their financial future.
- Build a strong online presence
Building a strong online presence is critical to effectively marketing your finance practice. According to Mashable, Google gets over 100 billion searches a month globally, out of which more than 50% of these searches are performed on mobile devices and tablets. In addition, according to eMarketer, 89% of SEO globally is considered successful in achieving higher search rankings, increased website traffic and lead generation. Finally, according to Google, 80% of consumers conduct local searches on search engines – 88% on their smartphones, 84% on a computer/tablet. All these statistics suggest that establishing a strong online presence and establishing yourself as a finance/accounting expert in your area, can guarantee enormous success. Just make sure to let people know your skills and where to find you.
- Network with a plan
It doesn’t make too much sense to network without a plan. Giving out your business card without even knowing the prospect client, is useless and ineffective. Don’t forget that all the networking effort is being made so that you get to know the needs of the prospect customer so that you see if you can help them meet their business / individual goals. Therefore, before you attend any event, be prepared for the person you are going to meet and during the meeting try to learn as much as possible about their company and professional endeavors. The more you get to know them, the more you can help them in the long run.
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