Growing Your Accounting Firm: Tips from the Experts

Do you want to grow your accounting firm? Many tried and true business strategies have lost their effectiveness in recent years because the accounting industry has changed so rapidly. We’ve put together select strategies form industry experts that can help you in growing your accounting firm.

Find “A” Clients and Exceed Their Expectations

If you want to grow your firm, senior management needs to focus on the firm’s best clients and go out of their way to please them. You need their loyalty, which means you need to attend to their needs, introduce them to new services you come out with, and ensure costumer service exceeds their expectations. Clients are your best source of referrals, because these are the clients that know other “A” clients. Often management will treat prospective clients like royalty because they’re trying to win them over, but the royal treatments needs to continue long after they officially become clients. This is how you gain client loyalty.

Turn “B” clients into “A” Clients

While “A” clients are a priority, “B” clients are almost as important. Why? Because “B” clients are one step away from becoming “A” clients. Start by familiarizing “B” clients with every service that your firms offers and make buying new services easier for them. You also need to treat them with the respect and attention you do with your “A” clients. Eventually, you can turn these “B” clients into “A” clients, which will help you grow your firm and help you get better referrals. Clients want to know you understand their problems and that your firm will prioritize their needs. When “B” clients see this, they’re more likely to become “A” clients.

Identify Prospective Clients Who Resemble the “A” and “B” Clients You Already Have

Turning a prospect into a client can be a long and costly process, so you want to put your time and energy into securing high-quality clients. If you use the first two strategies, you will have a much easier time attracting “A” players and marketing to them. They will be able to see how well you treat your best clients, and this will make them want to use your services. Meanwhile, look closely at the traits your best clients have in common. This will make it easier to identify prospects that are likely to fill the same roles that your “A” and “B” clients do for your firm.

Growing your accounting firm will require a thorough process and a client-based approach to business growth. Think about what clients want out of an accounting firm and do everything you can to please them. Focus on “A” clients and B clients so you can keep your best clients happy while increasing the odds of attracting new clients that are in the same league as your “A” clients.

 

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