As baby boomers retire and many of them have already, the firm is usually faced with a shortage of rainmakers. Of course, their knowledge and experience with technical work are also missed.
Firms have spent many years and a lot of money developing technical experts. But, have they spent many years and lots of money developing rainmakers? The answer is no.
It is so important to instill the responsibility and expertise for bringing in new business in everyone working at the firm, especially the younger accountants. I have observed that firm leaders don’t begin early enough to develop future rainmakers. Here are some suggestions on how to build enthusiasm for marketing.
Marketing Education From Day One – As part of orientation, be sure your new hire spends some time with your marketing director (or firm administrator) to learn about firm marketing efforts. One marketing director gives the newbies a “tour” of the marketing closet, showing them the firm marketing collateral and giving them their business cards on the first day. Set a goal for them to distribute their business card to twenty people their first week at the firm. Assure them that they can give it to friends and even relatives, just for the practice. The marketing director has a lot to teach new hires.
Provide Opportunities to Practice – Organize a marketing skills lunch and learn for staff. At my firm, we even talked about the proper way to shake hands and had them practice with each other. Have them develop their elevator speech (how they quickly describe what they do and who they work for in an informative and brief way).
Establish Accountability – A simple, easy-to-use marketing activity report is an important tool for new staff. Sometimes, even managers need marketing education. The marketing activity report is submitted to the marketing director every month.
Leaders Setting The Example – Young people learn from observing others. Do all your partners frequently attend community and business events? Are your partners writing articles for the firm newsletter? Do you have some partners who blog, tweet, or do podcasts?
Always Have A Shadow – Partners and more experienced accountants should always offer to take a beginner along on a prospect meeting. When you have a lunch meeting with a current client, invite a beginner. You can flatter your important client by saying, “Today I have asked Ned Newbie to join us for lunch. He is new to the firm and just learning how CPAs work. I thought he could learn benefit from attending a lunch meeting with an important client like you.”
Building the enthusiasm for marketing doesn’t happen naturally for accountants. Don’t wait until a manager is being considered for partnership before they know that bringing in business is an expectation.
Categories: Communication, Crafting Your Career, Marketing, Partner topics, Sales, Uncategorized
How Does A Prospective New Client View Your Firm?
Those of you who know me, know that I am, and always have been, an Apple fan. I had the first Mac when it looked like a little robot box and of all things, it had something called a Mouse! Our son had an Apple IIe when he was in middle school. I wish I had bought stock back then!
I came across a great article via Inc. A story about a Windows devotee who had an Apple Store experience. Take a few minutes and read it. See if there is something you can learn about client service from the story.
I love this one sentence in the article, “I’m deathly allergic to inauthenticity.”
Here’s the story, “I Spent $2,000 at the Apple Store and Got an Invaluable Lesson in Consumer Psychology.”
Categories: Client service, Culture, Helpful Information, Marketing, Uncategorized
How Is Your Firm Perceived?
Ever wonder how you are really perceived in your business community?
“Oh, yes… I know Smith, Jones & Company, they are the ___________ firm.”
Try this fun exercise with your entire team during a Lunch & Learn session or at a regular team meeting.
Use the above line. Insert the name of your firm. Have each person write down a word or phrase that fills in the BLANK.
After everyone is done – share them and discuss them. How is your firm really perceived?
They are the auto-dealer firm.
They are the new firm.
They are the oldest firm in town.
They are the audit firm.
They are an estate planning firm.
They are the innovative firm.
They are the old school firm.
They are the big firm.
They are the small firm.
They are the cool firm.
You might find out some eye-opening perceptions about your firm.
Categories: Change, Client service, Marketing
An interesting article via FastCompany about Major League Baseball needing to attract younger fans. The average TV viewer for MLB is 57 years old. How old is your average client? Think about it.
An example of being stuck in the past (via FastCompany) is the Boston Red Sox. Their logo and colors (red, of course and a pair of socks) have been the same for years.
Nike’s new uniform for the team (it debuts on the field on April 17) features none of that old stuff. The new uniform is yellow/gold with “Boston” written in a modernist, light blue script. Check it out here. As for me (not being a Boston fan), I like it a lot. I notice the cap still has the traditional “B”.
Now, what about your firm? Look how Boston is written on the front of the uniform – very contemporary. Does your firm’s logo and website say:
We’re an old-fashioned firm.
We are traditional and conservative.
We could be called Old School.
Are your colors dark blue or burgundy? If you have a partner named Green is your website color green?
There is lots of conversations going on right now about accountants needing to be more creative. Put refreshing your image on your to do list for 2021.
Categories: Change, Culture, Marketing, On My Mind
It’s Friday and time for a flashback post. It is something that I hope you have practiced a lot recently during your busiest time of year. I call it making your clients say, “Wow!”.
To make clients say wow you have to do something unique. Read more here.
Categories: Client service, Marketing
Times have changed dramatically. The old ways of business development inside CPA firms are gone (for now and maybe forever).
I imagine many firms are not comfortable with pursuing new business in the digital world.
Sarah Dobek, Inovautus Consulting, is offering practitioners the opportunity to invest in digital marketing training.
The training involves four sessions: Session 1: The Intersection Between Traditional + Virtual BD, Session 2: Networking Virtually, Session 3: Best Practices for Integrating Video into the Sales Process, and Session 4: Social Selling.
Don’t sit on the sidelines, get involved with digital marketing. Get more information about this training and the sessions here.
Categories: Client service, Helpful Information, Marketing, Sales, Training
2020 was a challenging year and you had to distance yourself from others. This Friday Flashback Post stresses visibility.
Also, just because it is tax season, it doesn’t mean you are permitted to forget about visibility. During this time of year, CPAs are the heroes – you are working very hard to help others. Stress that theme on your website and other social media sites.
Adding New Clients – Flashback Friday
Adding new clients is always a challenge for CPA firms. However, some firms have a marketing machine, visible rainmakers, and obtaining new clients isn’t their biggest issue.
The challenge is being able to provide awesome client service to the rapidly growing client base.
Here’s a flashback post to help you with that challenge.
Categories: Client service, Marketing, People/HR
Websites are on my mind today. When comes to promoting your firm, yourself, and your people, your website is more important than ever.
As you might guess, I constantly look at CPA firm websites. If you ever send me an email or if your firm is ever in the news, you can bet I will be perusing your website.
There are still a significant number of firms that have not taken action on updating their website. It appears that it has been the same for the last ten or fifteen years. You can tell immediately when you hit their site. When I ‘hit’ one, it makes me sad.
In these times of no meeting and greeting potential clients in person, the only impression they get of you is from your website. Someone should be managing your website daily. You need current articles and high-quality pictures of your partners and other leaders. Your site needs to give the impression that you are modern, future-focused, and extremely knowledgeable. If your website says (without using words) that you are an “old school” firm, you are in trouble.
For progressive firms, a significant number of new clients come to the firm because of their website. How many are coming to your firm because they simply looked at your website and were impressed?
You only get one chance to make a good first impression, and yours may be in the hands of the receptionist.	
Categories: Client service, Communication, Firms, Marketing, On My Mind, Sales, Uncategorized
“Business opportunities are like buses, there’s always another one coming.” – Sir Richard Branson
For years now, firm leaders have been worrying about what happens when the firm’s best rainmakers retire. Often, firms have depended on one major rainmaker. The ones worrying the most are the partners who have not been rainmakers themselves.
The fact is, the baby boomer rainmakers are retiring now, on a regular basis.
To complicate the situation, how can an experienced business development partner “take along” a young person when talking with clients, attorneys, and/or bankers during COVID? I have always advised experienced partners to take a young person along. Times have changed.
Are your partners involving younger accountants in Zoom meetings with clients and others?
Let the client see the face of the person who will actually be doing the work associated with their engagement. Make that next video (or conference) call your client a 3-way or 4-way meeting.
If you are a partner or manager and about to make a quick video call to a client, stop and think! Who else should be seen by your client? Young people learn by example and now being an example involves a little more thought and effort than it has in past years.
You only have to do a few things right in our life so long as you don't do too many things wrong.	
Categories: Client service, Communication, Leadership, Managers, Marketing, Mentoring, Partner topics