Practice pitches

Practice pitches

Marketing techniques are essential to the success of a company, andaccountants should tate note. Gordon Gilchrist shows how to gain the leadsjust by using some initiatives

Any company’s marketing is about generating leads and meeting people that the company would love to have as its clients. However, while having bright ideas is important, marketing is only 5% inspiration and 95% perspiration.

The main marketing initiatives that generate leads are: mailshots, telephone follow-up to the mailings, client recommendations, other referrals, advertising and trade shows.

Most accountants wouldn’t need to advertise or attend trade shows if they were successful with the other four items or unless they are attacking a specific industry sector and specialising in clients in that industry.

To be successful at mailshots and the telephone follow-up accountants need: a database of potential clients to write to in a personalised fashion; at least five direct mail letters to be sent over a year; each mailshot must have a ‘freebie’ to attract a response, such as a free initial consultation; a software programme that enables mail-merge facilities and telephone follow-up; a small range of promotional items such as a brochure, newsletter and one “tacky” item like a stress ball or mouse mat.

If accountants want client recommendations they should ask their clients to support them. Yet only 0.2% of clients have ever been asked to recommend their accountants.

In terms of generating referrals from other sources accountants need to get as many people in the firm out and seeing people. The target must be four or five new contacts per week for partners and two per month for managers and other staff who want to be involved in the firm’s marketing.

Companies should take the initiative in organising joint events with referrers of work including seminars, wine tasting evenings, golf days and similar events.

Improving your image

But no firm will be successful in marketing if it doesn’t have the support of its staff. The number one item on the list must, therefore, be to give all staff an ‘introduction to marketing’ course. This is essential in order to involve them in the process of marketing and to change the culture of the firm. It also stops the cynics, often senior members within the firm, bad-mouthing an unstoppable movement within the profession, thereby disadvantaging the firm.

Part of the company’s image is provided by its brochure which should offer an overview of the firm. For firms of up to 20 partners an A4-size, six-page brochure is quite sufficient to attract a typical entrepreneur.

As regards the design and contents of the brochure, heed the words of American consultant Jeff Salins who said: ‘One partner and you get one view, two partners and you get six.’ Agree at the outset that brochures are very subjective and that you cannot have endless debates over them.

Finally, in terms of actually doing the marketing, every firm will need to appoint somebody who is solely responsible for this activity. As a rule, with more than six partners this position will be full-time. Even a part-time marketing co-ordinator must be exclusively dedicated to the marketing. Don’t fall into the trap of trying to share this job with another – it doesn’t work as marketing will always take a backseat to other jobs.

Typically, these individuals are a new breed within a practice and it is important that they are not perceived as professional fee-earning staff any more than they are perceived as being secretaries. Therefore, where they actually sit in the office and have their desk is important.

Their role should be focused initially on sorting out the software and database. Secondly, they will make the mailshots happen and that includes agreeing the mailshot letters themselves and the ‘freebies’ to be offered.

The firm’s brochure and any newsletter will be also be their responsibility.

Once the letters have been sent out the marketeres are responsible for telephone follow-ups and arranging for the partners to visit potential clients, as well as handing out their ‘freebies’ and selling.

Gordon Gilchrist is the founder of GILCHRIST, Practice Development Consultants.

THE GOOD MARKETING GUIDE

Present marketing to all the staff Write your plan that focuses ONLY on activities that generate leads Recruit a marketing co-ordinator Buy in software to allow mail merge and phone follow-up Get a database of potential clients that you want to act for Put your mailshot programme together including your brochure Send out the letters Phone follow-up Visit potential clients and SELL, SELL, SELL.

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