Here’s some marketing 101 for accountancy firms who are serious about growing their fees and profits…
The bottom-line, basic, must-do, no-brainer marketing activity in your accountancy firm is…
Grow your three lists…
I know we touched on this a few weeks back but recent work with several accountancy firms points the way to real success. And it’s simple…
List management in an accountancy practice is simple. You only have three lists:
1. Your client lists
2. Your prospect lists
3. Your introducer lists
Grow each of these lists and you grow your fees, you grow your accountancy firm.
It’s even simpler than this!
Ignore your client list for a moment! Simply grow your prospect list and you’ll grow your firm. Here’s how…
Let’s say you’re OK at convincing business owners to move to your accountancy firm – you have a 50% conversion rate of prospect to paying client.
If you increase the number of first meetings you have with prospects, and your conversion rate stays the same, you grow your firm – simple.
Grow the size and of your prospect list. Do what you already do now to get first meetings. Convert as you’ve always done (at 50%). Grow your firm.
BONUS: Grow the quality of your prospect list. Be more selective about the businesses going onto your prospect list as well as growing the size of your prospect list and you’ll grow more with higher-value clients.
Ignore the size and quality of your prospect list and your firm will not grow.
“How do I grow my prospect list?” It’s a fair question.
There’s many answers but here’s the simplest:
Grow your introducer list – in size and quality.
Meet more often with more introducers and you’ll be introduced to more prospects for your firm.
I said it was simple!
What strategies do you use to grow your prospect lists?
What do you do to expand the number of introdcuers you’re in contact with?
What works best for you and your firm when growing your three lists?
Author of ‘Bamboo Marketing For Accountants’ – the route map to marketing success for accountants in practice
Creator of ‘BUSINESS BITESIZE’ – cultivating a greater flow of new clients for your accountancy firm through profitable word-of-mouth…
And let’s get LinkedIn http://www.linkedin.com/in/paulshrimpling