Search:   > Search for Members
Thursday 9 September 2010
 
MGI World - Business solutions worldwide.
  • USA: Succession Planning—A Daily Routine... > More
  • Boston, USA - Braver: Tax Planning in 2010 has Many Twists and Turns... > More
  • UK: MGI Member, Rickard Keen, News... > More
  • Boston, USA: Minimize the risks and maximize the advantages of your real estate investment... > More

> MGI news archive...

MGI International Brochure Download
(pdf 6.23 Mb) Get Acrobat Reader here

Client Solutions, Australasia
(pdf 5.4 Mb) Get Acrobat Reader here

MGI UK & Ireland Area Brochure Download
(pdf 3 Mb) Get Acrobat Reader here

Beyond Marketing

Alternate Text Over the last 20 years, the accounting profession has made significant strides with marketing and public relations programs. For many firms it has played a major role in their growth and success. However, there are many other firms that have made significant investments into upgrading websites, creating professionally written and designed newslettters, hiring professional marketing directors and/or consultants, designing innovative promotional collateral materials, etc., who have not had the growth they anticipated from their marketing investment. In such cases, the partners often question whether they are getting the proper return on their marketing investment.

Quite often, the problem is not the failure of the marketing program, but rather a failure of the process as to when marketing ends and sales begins. Selling is a contact sport that takes numerous communications and touches with prospects. Marketing supports selling, it doesn't close the sale. Here are some suggestions that will assist your firm in getting a greater return on your marketing investment:

Provide professional sales training to your partners and managers on the entire sales cycle. Most accountants have never received formal sales training and don't practice proper selling techniques. Professional sales training will also motivate your partners and staff to get out the office and spend more time with prospects and referral sources. It will also reduce the fear and anxiety that accompanies selling by non-professional sales people. The potential for failure prevents many accountants from devoting the time and effort it takes to build relationships that can lead to a new client. Accountants are not accustomed to failing in their professional endeavors. Sales training will assist in overcoming the fear of failure which can be greater than the desire for success. Success at sales depends on knowing and accepting how long it takes to succeed and the number of failures you will have along the way.

Each partner and manager should have sales goals and objectives that are realistic and measurable. Qualifying prospects into high probability clients prevents partners from wasting time by selling too many of the wrong prospects. It's essential that sales activities be monitored and results accessed periodically internally and possibly by a sales coach.

Closing sales normally requires building and maintaining relationships over a long period of time. It means periodically and continuously following up with “qualified” prospects and referral sources. This is where most accountants fail at selling by not maintaining the required follow-ups and contacts that are crucial to the selling process. Prospects should be evaluated periodically to determine if there is a realistic basis of closing them.

Don't blame marketing for a lack of new business—make more of an investment of time in selling and you will see a greater return on your marketing investment by more of your partners.

Accountants Advisory Group Maximizing the Value of CPA Firms

T:+1 845-265-9046 | Fax: +1 845-265-9045 | Cell: 914-924-1450

joe@accountantsadvisory.com


2009-12-08

 

Website by CHP Design, London.