August has been a busy month so far with September already set to be busier. Accountants we have spoken to are proactively seeking to build their client base and open to all suggestions on how this can be achieved. So we thought this week we would just take a moment to review some of the things we have been discussing with Accountants and how Wizard Pricing can work to on-board clients effectively and ensure the investment in marketing is well spent.
Marketing that Works
If you ask most accountants what their marketing strategy is, they will generally tell you that “marketing does not work for them”, or “our business comes by word of mouth”. There may be some truth in that. But “word of mouth” is a marketing strategy, and some platforms such as LinkedIn are enablers for that type of marketing. Whatever strategy we use to publicise our business, it is a form of marketing.
So what is your business development strategy for 2017 and beyond! Do you want more clients? Would you like to be more profitable this year? Would you like to offer a wider range of services? Would you like to provide support for web based accounting packages? These are all good questions, and the answers should be part of your marketing plan. Do you have a marketing plan?
Whatever your strategy or goals, unless you are running your business down, you should have considered these questions, and hopefully have an idea on how you plan to maintain your place in the market and sustain growth if that is what you want to do. A core part of your marketing plan should be your pricing strategy. We call it the science of pricing; somewhere between sales and marketing.
Attracting New Clients
Most accountants rely on the quality of their business proposal. Often these are lavish documents that exude quality and showcase all the reasons why a client should engage them to manage their accounting needs. It is not uncommon for proposals to feature many pages detailing a wide range of services, despite the actual quotation price being less than a page long. A fixed engagement fee and a monthly recurring fee.
Building your client base.
Whatever strategy you use to introduce your practice to new clients, inevitably you will need to calculate a price and send a nice proposal outlining your range of services and presenting the price for your services. Crucially, second only to the actual price, it is the time taken to prepare and send a proposal that will have a major influence on whether you ‘on-board’ a new client. If you are able to discuss the clients needs and calculate and give the client a beautifully prepared proposal immediately, you have a better opportunity to sign up the client. I am sure you will agree, getting a proposal into the hands of the client quickly is crucial to increasing your closure rates.
“Make it easy for your clients to buy from you…”
Wizard Pricing was developed specifically to make it easier for your clients to buy from you. Either you or your client can work through a set of multiple choices and eventually reach a price for your service. Your client can change their choices at any point in the processs, and the price will automatically adjust. Finally, you can send the finalised price by email. You can even elect to send a PDF version of the proposal too. Therefore, building your client base is dependant on your ability to reach a price and agree a deal as quickly as possible. Wizard Pricing makes this possible.
Arrange a demonstration
We specialise in the science of pricing strategy, so why not book a demonstration now, and make your sales and marketing activity significantly more effective.
Thanks for reading our mid August post. We have more to say next week.
We are planning a more formal launch at the Digital Innovation Show 2017 in Bournemouth, so be sure to come and see us.
Steve Griffin and everyone at WizardPricing.com