Successful accounting firms don’t wait for clients to come to them. They implement effective and time-saving strategies to attract the right business. In a competitive industry like accountancy, gaining new clients isn’t always easy — but it’s essential for your firm’s growth.
We’ve put together 10 ways to show you how to find clients for your accounting firm and grow your business.
1. Identify Your Ideal Client
The ‘Pareto Principle’ suggests that 20% of your top clients generate up to 80% of your profits. To reduce the time spent on less valuable services, identify the common characteristics of the top 20% of your clients to find your ideal client.
Building a profile of your ideal client (which services they use, the best way to reach them, which industries they’re from, etc.) will make it easier to target valuable, long-term clients through tailored marketing strategies.
2. Find Your Niche
There are around 35,000 accounting and auditing firms operating in the United Kingdom alone, showcasing just a glimpse of the competitiveness across the wider accountancy industry.
Tailoring your services to a niche consumer type may narrow down your potential client base, but it will also make your firm stand out in the area you’re targeting. If you position your firm as an expert in a specific field, it will become the obvious choice for your client base.
Determine your niche, whether it’s small businesses, self-employed workers or businesses in a certain industry, to acquire long-term, returning clients.
3. Use Tech for Added-Value
Modern businesses need modern accounting firms — and that means embracing technology. Technology allows you to offer potential clients a more valuable service with greater convenience, which is something traditional firms struggle with.
For example, by automating tedious tasks, you can reduce your workload and free up time for more hands-on tasks with clients for guaranteed customer satisfaction.
4. Focus on Obtaining Referrals
Your existing clients are your best advocates when it comes to growing your firm. They trust you and your work, and they have a network of people from similar backgrounds who may require your services.
To make the most out of this opportunity, you need to incentivise clients to refer their friends and family. For example, you could offer your clients a discount if they bring in new business. If you’re not in a financial position to offer freebies, give a thank you note or a business-appropriate gift to show your appreciation.
Consider leaving referral cards on your desk or adding a “Who referred you?” field into your online contact forms to make referrals easy and accessible.
5. Update and Optimise Your Website
If you’re not easy to find online, you risk losing valuable business. Most firms will have a website containing the basics: their service list, contact details, prices, etc. However, this may not be enough to make you stand out from the competition in a digital-first world.
Content marketing plays a pivotal role in improving the overall image of a firm, making it easier to expand your client base. Think about including a blog with helpful advice and updates about the company. Then, optimise your website to improve its search engine performance so that it ranks above your competitors.
6. Raise Your Industry Profile
Becoming a voice of authority in the accountancy industry means you can spend less time looking for clients. Instead, they’ll find you.
You already have the knowledge and skills to do the work, but you need people to know this. A great way to raise your profile is by holding and attending talks and seminars. Through an educational platform, you can showcase your knowledge to attract new business and position yourself as a reliable partner.
7. Collaborate with Other Professionals
Networking and forming partnerships with other businesses is a great way to expand your client base. For example, forming a business alliance with lawyers and investment advisors could help you find new clients through referrals and mutual promotion. You can recommend their services, and vice versa.
If you decide to go down this route, make sure you partner with trusted professionals to maintain and improve your overall image.
8. Hire Quality Talent
Automation and technology can only take your firm so far. Attracting your ideal clients hinges on hiring the right people and talent.
Your employees need to have the right technical skillset, but that alone is not enough to attract new business. Look for people who can inject some personality into the firm and relate to your clients better.
9. Harness the Power of Social Media
Building a social media profile is a simple way to boost your online presence. Before choosing a firm, clients will often do online research — and with over 50% of the world’s population on social media — it’s only normal for them to turn to social media.
Before jumping online, determine who you’re targeting, which social networks they use and what kind of content they would like to read. Being an active and helpful reference online will draw clients to you over time.
10. Nurture Client Relationships
Word of voice is a powerful marketing tool — it can make or break your firm. Happy clients translate into good reviews and a better reputation, transforming your firm into a trusted partner. This can do wonders for your business growth.
Nurture these relationships by offering personalised customer service, timely reminders for convenience, and rewards for returning clients.
Expand Your Accounting Network at INAA
Here at INAA, we connect accounting firms who aim to deliver quality professional services around a shared vision to make global business personal, and take personal business global.
With every industry change, our collaborative association of international businesses is committed to being a part of the conversation around auditing and accounting.
Join today to start building powerful business relationships.