Today's Top 10 Business-Building Tactics for CPA Firms
What’s working for accounting firms today? Join the survey. Get the results.
September 14, 2009
The economic downturn seems to be driving accounting firms to turn increasingly to new technologies for their marketing and business development efforts.
To be sure, tried-and-true business-getting tactics such as networking, referrals and community service remain mainstays of practice development in the tax and accounting profession.
But you might be surprised by how many accounting firms are turning — in a sudden rush — to Web site upgrades, e-mail promotions and social media to both stretch their marketing dollar and increase their reach.
What’s working for accounting firms today?
In a Bay Street Group/CPA Trendlines survey for the AICPA, new wave technologies are emerging as key ingredients in accounting firm marketing plans. We’ve been asking accountants to tell us which marketing activities their firms would be emphasizing anew in the coming months. Here’s what they’re saying so far:
At Aronson & Co. in Rockville, Md., CEO Lisa Cines is blazing a trail for the profession into well-focused target markets and interactive media. “We have refocused and we’re spending only within the committed niches,” said one senior executive at the firm.” You can see some of the firm’s blogging at Aronson Fed Point, an increasingly effective resource for current news and trends affecting government contractors.
At Pittsburgh, PA-based Dennis Piper & Assoc., Chief Executive Dennis Piper says his firm will be looking in the months to come more toward web advertising to supplement seminar selling and referral marketing. At Livingston, N.J.-based Wiss & Co., firm Managing Partner Jeff Campo is reportedly “getting more press through social media.” And, at one Connecticut firm, a principal reports they are “cutting back advertising dollars in favor of free media, i.e., Facebook.”
“We just can't only rely on referrals anymore,” the head of one local CPA firm tells me. But, other than referrals, they haven't really tried anything new in sometime. “We do know that the phone book has not worked for us,” he says. “That only seems to attract price shoppers.”
And yet, he adds, “We believe that if we don't get out there and get our name known we won't get enough new business to meet our growth objective.” So, going into the next busy season, this firm is looking at new initiatives like holding seminars, starting or upgrading e-mail newsletters and getting involved in online social media, like Twitter, LinkedIn and Facebook.
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Copyright © 2009 CPA Trendlines/BSG LLC. All Rights Reserved. Used by Permission. First published by the AICPA.
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