Creating successful lead generation strategies for your accounting business is imperative. However, it can be a challenging process. Accounting is one of the in-demand professions but accountants generally offer the same set of services. In a scenario like this, how does one create a distinct identity for their services and generate qualified leads? Here are some proven methods to supercharge your lead generation and help you determine your long-term client strategy.
Periodical meetings with existing clients.
Some studies have proven that it takes a lot more work to book new clients than it does to generate more work from previous clients. 80% of your work will come from the top 20% of your client base according to Pareto’s principle so it’s best to adopt a long-term customer strategy. Say you are managing Year-end accounts of a client and as a part of your regular 3 monthly follow up with the client, you learn that the client has recently ramped up their hiring and might be looking for someone to manage their Payrolls in the future and you know you and your team will be competent to handle this. This allows you to run the client through your payroll services package. Regular meetings/calls with the client will also keep your customer churn rate in check given that you will be more tuned into your client’s accounting/ financial management needs.
Ask for Referrals.
Referrals are a great way to gain a solid client base. Referrals give business owners confidence in the accountant’s ability to deliver. Asking for referrals means you will need to deliver great work to the client for them to feel confident to refer you to their network. For your existing clients to refer you, you need to keep them happy with good work, keep them updated regarding your services and pricing and also offer the right mix of services. Incentivising referrals can also make the existing clients go that extra mile for you when it comes to providing references.
Statistics show 85% of consumers refer online before making any purchases. With regards to accounting services that number is over 60%. The tremendous rise of social media in the last few years has made it essential for businesses to be on top of their social media strategy and it no different for accountants. With social media marketing, one can generate valuable leads at just a fraction of what it would cost using traditional techniques.
Seminars/ Webinars for Clients.
Seminars and Webinars for clients are a great lead magnet. They not only establish your domain expertise in the client’s minds, but they also have an excellent recall value. Some classic examples would be the various Events and Webinars hosted by BDO UK which include general webinars on subjects like Professional Tax or Asset Management Industry Update to specific ones like an Export Essentials Seminar when a large number of your clients are export businesses or a local accounting firm holding Free Introductory Xero Workshop.
Email marketing when used effectively can generate quality leads. The key to using email marketing is to learn how to take a generic list and customise the email content that is more specific and directed. Using the right lead magnet at a given point in time can give some great results. Some examples – your company’s introductory email listing out the services offered by your firm clearly and then offering 5 accounting consultation services free before signing up the client is a great lead magnet.
Getting prospects to sign up for your e-newsletters is another great way of keeping in touch with your prospects and nurture them into clients.
To fully leverage your email marketing efforts ensure regular updates and eye-catching content that focuses not only on accounting content but personal finance and business strategy to give the prospects a wholesome understanding of your expertise.
Super specialisation and tie-ups or Collaborations.
Identify the industries, sectors, and business types that you would like to focus on and develop your niches and super specialisms around those. Your website and digital marketing content should spell those out. This in turn will help you to profile and target the most valuable prospects. Being very clear regarding your specialisations will also help you refine and select your software and services. When you focus on super specialisation or a niche, your marketing efforts are also very directed and focused. Example: You are focused on providing accounting services to small and mid-sized design agencies and you get a lead for a different type of business, you passing on this warm lead to someone who works on those businesses will not only give you an edge, it will give you a good reputation in your field and eventually make you more profitable.