In 2024, a start-up’s success depends on the marketing strategies its owners implement to attract an industry-relevant audience to their firm and its service portfolio. Marketing for accountants loosely refers to the strategies and resources that accounting practitioners and accounting firms use for consistently landing high-quality leads.
An experienced team of accountants, deeply familiar with their industry and clientele, strategically identifies their ideal clients and consistently directs their efforts toward reaching out to them. Employing a variety of tactics such as personalized communication and targeted marketing initiatives, they endeavor to convince these ideal clients to engage their services. Additionally, recognizing the significance of an online presence, accountants utilize websites as powerful platforms to showcase their expertise and offerings effectively, thereby enhancing their credibility and attracting potential clients.
Today, a digital marketing plan is a decisive factor in the success of an accounting entrepreneur in attracting organic traffic and landing new leads.
Following are best practices that accounting firms can follow to stay competitive in the industry.
Table of Contents
Build a Website
Reputable accounting firms have a well-designed and user-friendly website for their sales channels so that their prospects can easily navigate through their brand content and services portfolio and convert into leads. A sales channel is the path a product takes from a manufacturer to a consumer. Thus, an informative landing page that describes the company’s services and adds value to the prospect’s knowledge base is essential to building a lead generation funnel for an accounting service provider.
Blogging
Blogging is perhaps the most interactive way for the accounting firm owners to connect with their target audience.
According to Accounting Web’s article titled “7 Benefits of Blogging for Accounting Firms” ” easy-to-read articles with valuable information highlight your accounting firm as a source of valuable advice for your clients to grow their businesses.
High-quality blogs that contain in-depth accounting knowledge and are well-optimized for SEO can attract a reasonable level of traffic to the company’s website.
Well-informed accounting firm owners write value-adding accounting blogs for their target audience while following best SEO practices so that their content may appear in the top results in Google searches. Subsequently, the blog drives the target audience to the accounting firm’s website, a portion of which converts into leads through the CTA (call to action) buttons that usually ask the readers to share their contact details or book a consultation, etc.
Attend Accounting Conferences
Accounting conferences such as the AICPA & CIMA CFO Conference, AICPA Engage, and The One Conference (CPA Canada) an effective ways for accounting firm owners to win clients.
Attending accounting conferences helps owners of accounting firms stay up-to-date with industry-related events and the latest accounting trends. Further, accounting conferences also provide accounting firm owners with new strategies to connect with potential clients and networking partners. It also helps them gain valuable advice on how to improve processes within their accounting firm.
Podcast
Podcasts are a great way for accounting firm owners to brand their business and gain new prospects by sharing valuable information that helps build trust among their audience.
In 2024, many entrepreneurs are launching Podcasts to promote their brands. Although not many accounting firms are utilizing this strategy, it remains a cheap and effective method for accounting firm owners to get a competitive foothold in the accounting industry.
Further, less competition in the accounting Podcast industry means more opportunities for the accounting owners to benefit from it as a marketing instrument. This will help them reach out to potential leads with relatively less marketing effort.
Best practices in the accounting Podcast industry include posting your podcasts on professional networking websites, such as LinkedIn, and consistently delivering value-adding content to the target audience on a daily or weekly basis.
Newsletters
Accounting firm owners extract lead data that the prospects submit on their website and use it to build a recipient’s list for newsletters. Newsletters help owners of accounting firms stay on top of their customers’ minds by delivering accounting industry-related educational content. Easy-to-read newsletters that deliver valuable information and are consistently sent to the target audience convert a portion of prospects into leads.
According to Karbonhq’s article titled “How a newsletter can help grow your accounting firm”, email marketing is a powerful tool that accounting firm owners use in their accounting firm’s content marketing strategy.
The best practices with newsletters include knowing the client’s pain point(s) and providing them with information that addresses them. Further, educating the clients on matters of accounting interest through newsletters rather than selling the brand remains the top priority for reputable accounting firms. It helps in their firm’s growth and builds trust between the audience and the accounting firm.
Social Media Marketing
Today social media marketing plays a decisive role in an accounting firm’s development. However, business owners must know which social media platform to use to market their brand. For example, a fashion brand has a better marketing potential on Facebook and Instagram compared to an accounting firm whose marketing will fare better on a professional platform, such as LinkedIn.
According to Sweetfishmedia’s article titled “7 Ways an Accounting Firm Could Dominate Social Media”, learning social media marketing skills to market your accounting firm is crucial in modern accounting marketing.
Furthermore, social media pages are visited mostly by smartphone users. Thus, a smartphone-optimized social media page will help improve an accounting firm’s social media presence. Accounting firm owners use their social media pages to deliver valuable content to their audience. It helps them get maximum likes, comments, and shares that increase their brand’s online presence and attract potential customers.
Freelance Accounting
Reaching out to job postings on freelancing platforms like Upwork and Clutch is a cost-effective tactic used by accounting firm owners. By connecting with companies hiring accountants, they can generate organic leads for their business. This strategy allows them to proactively engage with potential clients who are actively seeking accounting services. Additionally, it provides an opportunity for accounting firm owners to showcase their expertise and demonstrate the value they can bring to these companies.
Follow up with Cold Leads
Accounting firm owners do not close deals with 100% of the people who are interested in their services. Even a vibrant business meeting with prospects does not always end fruitfully. Reputable accounting firms have a CRM (Customer Relation Management), in which they tag their cold leads to follow up for later. Many of those cold leads have the potential to convert into a deal if the accounting firm is on top of the prospects’ minds.
Reach Out to Existing Clients
Accounting firm owners often reach out to their existing clients to explore additional ways they can provide assistance. The likelihood of winning more business from these clients is significantly higher when the current service quality is excellent and when clients have a need for additional services. This proactive approach demonstrates a commitment to client satisfaction and allows accounting firms to deepen their relationships with existing clients.
Referrals
Referrals are indeed a longstanding practice in the accounting industry and remain an effective method for acquiring new business. By reaching out to your notable clients and inquiring if any of their contacts could benefit from your services, you tap into a trusted network of connections. Leveraging existing relationships often leads to more credible recommendations, increasing the likelihood of converting leads into clients. This proactive approach not only expands your client base but also reinforces trust and credibility within your network.
Paid ads
Paid ads instantly increase website traffic. For accounting start-ups, however, there is a possibility that most of it may turn out to be irrelevant i.e., the audience is not from the accounting industry and rarely converts into leads. Thus, paid ads can cause a financial setback for an accounting start-up. Paid ads are only advised when an accounting start-up can afford them. Paid ads should be considered only when a reliable sales funnel has been established.
An effective alternative to paid ads is organic marketing i.e., to reach out to the target audience by maintaining the accounting firm’s online presence and regularly engaging with clients.
Webinars
Accounting entrepreneurs often team up with industry professionals in webinars, leveraging their partners’ audiences to introduce their firms. This collaboration allows them to showcase expertise and services to a wider audience, establishing credibility. By participating in webinars, they can attract attention and potential leads within the industry. This strategic approach helps expand their client base and increase brand visibility. Overall, partnering in webinars is a valuable tactic for accounting entrepreneurs to gain traction and grow their businesses.
Attend Trade Shows
Accounting firm owners attend trade shows to connect with peers and target audiences, fostering networking opportunities and increasing brand visibility. These events also offer insights into industry trends, aiding firms in staying abreast of developments. Overall, participation in trade shows is a strategic move to expand networks and stay informed about industry trends.
Get Online Reviews
The top accounting firms typically showcase outstanding reviews on platforms such as Google and other review websites. Online reviews serve as the initial touchpoint for potential clients, shaping their perception of the firm. Positive reviews are crucial for establishing a credible online presence that resonates with prospective clients. They offer social proof of the firm’s expertise and reliability, fostering trust among potential clients. Therefore, maintaining a positive online reputation through good reviews is essential for accounting firms to attract and retain clients effectively.
Video Marketing
Establishing a YouTube channel has proved successful for most accounting firm owners in marketing their brands. Sharing videos containing valuable information that provides solutions for customers’ problems develops the audience’s trust in the accounting firm. Connecting with viewers and answering their accounting queries in the comments may eventually turn them into strong leads.
The bottom line
In today’s world, having a solid digital marketing strategy is crucial for accounting firms looking to stand out and succeed. Building a strong online presence is key to earning the trust of potential clients and turning them into loyal customers. By utilizing various online platforms like websites and social media, accounting firms can increase their visibility and connect with a larger audience.
For accounting firm owners who are new to digital marketing, partnering with a freelance digital marketing expert can be very helpful. These professionals have the knowledge and experience to guide owners through the ins and outs of digital marketing in a way that’s easy to understand. By working together with a freelancer, owners can learn valuable skills and develop a customized digital marketing plan that fits their business goals and needs.
This collaboration not only helps owners improve their digital marketing efforts but also sets them up for long-term success. By investing in a well-thought-out digital marketing strategy, owners can effectively engage with their target audience, stand out from the competition, and ultimately grow their business in the digital age.
