What is the
secret of success in marketing Accounting services"
Well, to understand
the elements of success, we must first investigate the anatomy
of FAILURE in marketing Accounting Services.
In my years
of serving Accounting firms in matters of marketing, I've seen
it time and time again:
In the face
of no effective means to obtain new clients, an Accounting Professional
in public practice can easily lose faith in his or her ability
to make plans become reality.
And, just as
many times, I've seen how ALL BUT ONE aspect of continuous, self-determinately
controlled expansion exist.
You've got
it ALL,
basically - for there is no better expert to do it than an Accounting
Professional. You've got SO MUCH MORE SKILL AND ABILITY to plan
and execute workable expansion strategy than any other type business.
There's
only ONE thing that can hold you back.
And that's
having a PRACTICAL, COST-EFFECTIVE system to INDEPENDENTLY
obtain new clients whenever you want at a low cost and high success
ratio.
It's not an
absolute statement, of course. If your practice is established
already, you MUST have had some way to get clients. And, even
if you're only PLANNING to start your own firm, you will have
some plan for marketing and sales.
I'm simply
stressing the practical side of it.
Ability to
influence the outcome of expansion is directly dependent on
the system you have for obtaining new clients.
That system
forms the "power factor" of practice management results.
It simply denotes
the POTENTIAL expansion power of your Accounting firm. To have
a powerful tool does not necessitate its continuous use, of course
- it simply signals one CAN get the results, fast and effective,
any time one so wishes.
There are a
few main factors affecting the quantity of this "expansion
power potential."
1) A tested system proven
able to GET results in form of new Accounting service clients
The first and
most obvious prerequisite is to have a system that has been tested
and proven to GET results.
All too often
we confuse "interesting" with "operational."
Something that
has the power to INTEREST us does not necessarily have
the ability to PRODUCE CLIENTS.
Ideas are great
to have, creativity is a high ability.
Ideas are at
the START of that long, resource-exhausting path that
may or may not lead to something that's PROVEN to produce
results.
There are practically
thousands of areas in which to create new ideas.
But IF you
want RESULTS in form of a continuous flow of new clients, it
is very prudent to give senior importance to PROVEN TRACK RECORD.
It takes YEARS
to develop a system that produces results uniformly.
Trust me -
it is the OPPOSITE of creative inspiration... it's 99 percent
persistence and research... YEARS of it.
Once something
HAS been found to work, where a successful path to finding new
clients effectively has been established, it is very wise to
use THAT instead of untested, unproven ideas.
2) A low-cost system that
allows for continuous usage
To have the
possibility to get new clients, one needs a system that is INEXPENSIVE
to purchase and - above all - to USE.
To get results,
you must take into account the "dwindling numbers"
factor. To get ONE client, you need to have several sales OPPORTUNITIES
- meet several business owners, preferably in your own office,
create a quote, and so on.
To GET several
meetings like this, you need to have something between the first
contact and the meeting in order to persuade the business owners
that there's a valid REASON to come to meet you.
To get to this
stage, you need to have found quite a few more POTENTIAL clients.
It's like a
chain of actions with a few days between each - and at each turn,
you will LOSE prospects... the numbers are dwindling... and your
target is still to get a SUFFICIENT number of business owners
down to the last meeting to GET NEW CLIENTS.
For this to
be effective, you need to set your objectives in a time frame.
So-and-so many new clients a month - and then create your own
sub-targets for each earlier phase that needs to happen before
you CAN have a new client.
Then you just
put it into numbers - and you have your production quotas for
the marketing activity.
Obviously,
the SYSTEM itself has to be very LOW-COST so that FINANCE
doesn't become an issue.
It has to be
SO inexpensive you can afford to run it continuously with the
frequency and numbers it TAKES to get 1-4 new clients every month...
or MORE, if that's what you want.
3) A PRACTICAL and EASY-TO-USE
system
To produce
results, the system would have to be concentrating on the practical
application.
It is the DOING
of things that lead to results, not thinking or discussing
about them. It is 99 percent "doing things that produce
results" and 1 percent thinking & talking about it.
Conspicuous
as it may seem to stress this, it is nevertheless the easiest
trap to fall for.
Who hasn't
planned and planned an activity, only to never really start
the part where one DOES it? Or, if we start it, we seldom CONTINUE
it for any meaningful length of time.
Thinking
and talking about marketing so easily replace DOING IT.
But, to get
new clients - to create the circumstance where it is POSSIBLE
to actively influence the obtaining of new clients - one needs
to DO THINGS.
Lots of things
- and correct things.
It has to be
PRACTICAL "doingness" and it has to be something that's
done more or less continuously - weekly or monthly - so that
it can CHURN OUT those results.
A marketing
system should be like a processing plant or a machine that manufactures
something. To keep getting those completed valuable products,
one needs to continue the practical process and do it over
and over again.
You don't see
a food processing plant being planned and built for years...
and then used only for a short while.
The period
of usage should be at least 100 times that of the planning and
building.
But in marketing,
we tend to mostly plan and build systems.
Yet marketing
SHOULD follow the principle of a PROCUTION PLANT.
You have a
SYSTEM (machine) that you need to USE continuously and repetitiously
on long-term basis: You do what it takes to get 10 prospects,
you handle each, you get as many as you can into a meeting, you
get as many as you can to sign up - and you have (perhaps) TWO
new clients - see?
And then -
DO IT AGAIN.
And again.
And...
Once functionality
and performance have been achieved, once there's a high success
ratio in obtaining the expected results, REPETITION becomes
the basic governing factor of production.
You need to
keep it going, do it again and again.
Now we see,
what a HUGE difference the EASE-OF-USE aspect of your chosen
system really makes.
And how VITAL
it is that everything in the system involves only PRACTICAL "getting-new-clients"
actions and nothing else.
ANYTHING else,
no matter HOW great it seems, will take away from the practical
using of the system - and thus, diminish the results. It'll only
tie up time, energy and resources from what PRODUCES NEW CLIENTS.
If the system
is complicated, impractical or requires a lot of training - or
demands prior experience of marketing and selling - it will lower
the "DOING" part of it.
To get clients,
one must do what is needed to be done to get them.
And there's
really very little margin here. You don't need to add much to
an effective marketing system to make it STALL, rendering it
virtually useless.
It is VERY
easy to lower the "active ingredient" of a marketing
system - which IS the "performing the successful actions
that produce new clients" of it - and thus, render the system
simply TOO INEFFICIENT to really produce results AT ALL.
For what produces
NOT ENOUGH SUCCESS will be discontinued.
You cannot
and will not continue something that doesn't produce results
- or,
worse still, produces more failures than successes.
And this brings
us to the next main factor influencing your "expansion power
potential."
4) A system with a high
success ratio
Success is
the nectar we all want. It is the ultimate reward for having
done something absolutely right.
Failure, of
course, is the opposite of success - and the punishment of having
done something wrong.
That's emotionally
speaking - the way we usually think about these things.
We LOVE to win - which IS success, ultimately - and we HATE to
lose (which is the other name for failure).
But we seldom
come to think of the ANATOMY of these two phenomena.
The apparent
absoluteness is not factual. It is only the way we FEEL and REACT to success
and failure.
SUCCESS is
not an absolute as such but it always means you've
done something SUFFICIENTLY right to achieve the intended result.
Failure only
appears to be "total" when, in actuality, it
simply means that NOT ENOUGH things were done SUFFICIENTLY
correctly to reach the wanted goal.
Now, this may
seem like quibbling - but there IS a point here.
EMOTIONAL responses
make us think about success and failure in terms of black
or white. In reality, both a simply a SCALE of ingredients
that work towards either success OR failure.
Logically,
the more you increase the LIKELIHOOD of "doing enough
things sufficiently correct," the more you also magnify
the ODDS of getting results.
More prospects
will become clients, in other words.
Thus, the
degree to which YOUR system has been successfully used by other
Accounting Professionals to GET results directly governs the
expansion potential of your Accounting firm.
Its direct
success ratio as in "how many prospects out of so-and-so
many attempts." and "how many clients signed on out
of so many prospects" will be the key factor.
Not surprisingly,
a system that's undergone this supreme test is astronomically
more reliable and effective than anything anyone could create
WITHOUT such testing and piloting.
A system with
a LOW success ratio brings little success and much failure. This
is a negative ratio and it will inevitably lead to QUITTING
THE SYSTEM.
And, ultimately,
this IS the problem with Accounting service marketing systems.
Defending theories, arguing the virtue of unproven ideas... it
all becomes a VERBAL and MENTAL excercise.
Quite frankly,
anyone so inclined can debate himself nauseous for all I care.
Words and opinions will never be the supreme test of a marketing
system.
USING IT is the test. The longer
it has been used, the more Accounting Professionals that have
used it, the more SUCCESSES it has produced in the hands of ANY
Accounting Professional...
That's the
test.
If it works,
it works. If it doesn't, it is irrelevant how many experts claim
otherwise - well, for the Accounting Professional footing the
bill, that is.
Anything that
doesn't work cannot be used.
There's a limit
to how much "punishment" (failure) a person can take.
Even the bravest and strongest will succumb to continuous failure.
It's human nature - that which we fail in TOO MUCH we simply
QUIT, one way or another.
Now, marketing
is a game in which there is not ONE but SEVERAL phases.
You could say that it's not A game but a SERIES of games, if
you wish.
Prospecting
- finding potential clients - is one game, for instance. Presenting
your services would be another... and so on.
It isn't
possible to create a marketing system that would give you a way
to succeed 100 percent.
If you count
from "how many direct mailing letters I send out compared
to how many clients I sign on" you cannot get a
success ratio that's over (or even CLOSE to) 50%.
There's no
guarantee that a prospect would become a client every time -
just like there's no way Liverpool or Arsenal could win every
game they play.
But just like
the BEST teams have MORE of what it takes to win ENOUGH to be
on top, a marketing system that has a HIGH SUCCESS RATIO will
get you on the better side of things.
And if you
divide the activity into PHASES and set MINIMUM success ratios
for each phase, concentrate on the SUCCESSES (and not the failures)...
it CAN be done.
Even then,
it takes a clever system that concentrates on the practical
actions of getting clients.
It has to be
something TESTED and PROVEN in use by other Accounting Professionals
- and it has to have a GREAT success ratio.
5) A system that INCORPORATES
the elements of success and requires little or no knowledge of
sales techniques
The relationship
between an Accounting Professional and his client is one requiring
a great deal of confidentiality and trust.
A potential
client seeking to evaluate your services is, in great parts,
actually estimating the nature of the possible future cooperation
with you.
Silently, he
wonders: Will it be pleasant, will it be comfortable? Should
he place his trust in you or not? Will you MISUSE his confidence
or REWARD him for it?
This type of
thoughts crisscross the prospect's mind and he formulates his
OWN answers to these questions from what he OBSERVES. Only he
won't tell YOU what he concludes.
It isn't hard
to see how adapting the role of a SALESMAN could easily give
the WRONG SIGNALS to a business owner looking to change Accountants.
In general,
we don't trust salesmen - we SUSPECT their motives and information
that they give with such trust-evoking sincerity.
I'm generalising,
of course - looking at it from the viewpoint of the prospect.
(Also, I'm actually quoting a few surveys that we've done among
business owners, so it's not hypothetical but factual.)
I know that
you are aware of this problem. The traditional sales approach
does not easily suit the specific requirements of Accounting
service marketing.
And therefore,
a whole different approach is required.
You need a
marketing system that allows you to REMAIN in the role
of a consulting financial expert and an Accounting Professional.
That way, the
potential client's observations will PROVE to him conclusively
that COOPERATION with you would be pleasant.
But, there's
a paradox here, as you know. It isn't enough to prove it would
be pleasant to cooperate with you.
You also need
to give sufficient proof of it being MUCH MORE BENEFICIAL than
it is with his current Accountant.
You need
to give him a REASON to CHANGE Accountants!
And how are
you going to accomplish THAT without TELLING HIM about the unique
benefits of your services? If you DO tell him, you're immediately
within the realm of SELLING - and heavily cutting down the branch
you're sitting on!
If you TELL
him, he will instantly SUSPECT your claims - and there goes your
carefully built image of a trusted, pleasant consultant!
If you DON'T
TELL him - how is he going to get a reason to CHANGE Accountants?
I tell you
how - there's absolutely NO WAY to accomplish BOTH goals...
not if you try to use the TRADITIONAL marketing methods!
And that's
where the Modern Accountancy marketing technology comes in.
There's
a way to get your prospect to SELF REALISE these things without
EVER mentioning them out loud.
Once HE "invents"
these facts, they become the TRUTH for him.
The bad news
is that it is a VERY COMPLICATED method to CREATE.
I know.
I've done it.
The way to
achieve this - getting your prospect to form these facts without
TELLING him or CLAIMING them yourself - you need to ask about
50 questions... questions that he is free to answer any way he
chooses.
Sounds simple
enough, doesn't it?
Well, the
ready tools ARE simple to USE.
Once
you HAVE those 50 questions.
But to FIND
OUT what they are, which sequence they should be in, which questions
may be missing and which may be redundant... well, that's a
gargantuan task.
In essence,
you need to go through THOUSANDS of prospects, testing and piloting,
proceeding through the PAINFULLY slow (and arduous) process of
trial and error, building the list of questions one by
one until you've GOT IT.
It's like groping
blindly in the dark for YEARS.
And how do
you KNOW that you've attained it?
Simple.
You'll know
it when that set of questions - set into ready-to-use
tools requiring only READING OUT LOUD the questions and points
- uniformly produces a high success ratio in the hands
of ANY Accounting Professional.
Once that point
has been reached, you have a system that INCORPORATES the "effective
ingredients" that are needed to convince MOST prospects
that your services give much more benefits - and you achieve
it by REMAINING in the role of a consulting Accounting Professional!
See, the point
isn't whether or not YOU have the experience, knowledge and skills
to sell.
The point
is that IF you SELL, you cannot avoid simultaneously HURTING
your chances of convincing the prospect.
To avoid that
- and still effectively GIVE him a reason to CHANGE Accountants
- you need a system with TOOLS that incorporate the techniques...
and you simply FOLLOW the script while REMAINING in your most
natural role of an Accounting Professional.
It is the most
comfortable way to sell. It is also BY FAR the most effective
one!
You've got 98-99
percent of what it takes
This is no
pep talk. Pep talks have a good amount of charity in them and
actually half-accept that the person CAN'T do what he should.
I KNOW you
can.
I KNOW you
have 99 percent of what it takes to fully control your own destiny
independently and without ANY problems.
Now, I also
know that failure is a mighty force. When one tries over
again to obtain new clients, invests time and money again and
again... only yet again to be left without the expected results...
then these disappointments can become a MOUNTAIN to bear.
It's the old
success-failure rule: If one fails too much in some subject,
one eventually quits.
It becomes
an awesome power that ORDERS us to concede the impossibility
of it.
That's why
most Accounting Professionals in public practice today don't
BELIEVE it is possible to actively control the number of new
clients obtained.
It has become
"a fact of life."
In the absence
of a WAY to succeed, the impossibility of it BECOMES A FACT.
A person will
try something only so many times. If none of those attempts bring
sufficient success, he will ADMIT that it is impossible.
That way, we
can permit ourselves to not have to keep on trying it. It is
impossible - so it would be folly to even try.
I'm not trying
to be smart here - it IS how it goes. And there AREN'T too many
Accounting service marketing systems out there that COULD give
you a fair chance of success.
That's fine.
But the unfortunate thing about it is that ONE STOPS LOOKING.
See - life
develops constantly. New innovations are made every day.
Times change
- and what used to be impossible gets SOLVED eventually.
But failure
can close one's mind to this. One stops looking.
That's the
final punishment of failure. One gives up hope altogether.
And that's
the wrong lesson to learn.
Only you have
the power
Only you can
change things within your Accounting firm. Failure is basically
misplaced trust - but it doesn't prove that one should NEVER
AGAIN trust anyone or anything.
It only APPEARS
to be that way. Absolutes are not attainable in this world.
It would be
impossible that EVERYTHING and EVERYONE would be out to cheat
you. But it can BECOME so in one's mind: "can't trust anyone
or anything!"
Of course,
it would also be just as silly to trust EVERYONE AND EVERYTHING
automatically.
The right way
is to evaluate for yourself - and KEEP LOOKING.
There's always
someone / something somewhere that CAN be trusted, that DELIVERS
what it promises and WORKS as it says it does.
But only YOU
can make the distinction.
And here's
the motivation for doing it:
You have
99 percent of what it takes to fully independently control your
own income, expansion, profits and success.
Ultimately,
it is your ability to trust someone to deliver that missing 1
percent that is the deciding element on whether or not that HUGE
potential of yours becomes available to you.
Those are the
cold facts of it.
Everything
else is emotion or speculation.
Basically,
failure can be CREATED unawares by simply following a bad system
that doesn't give enough POSSIBILITY to succeed.
It follows
that IF you have an EFFECTIVE system that does give enough
possibilities to get sufficiently correct results at each phase,
then it WILL CREATE SUCCESS instead.
The unfortunate
thing is that, if you use bad systems, you can easily become
convinced it is YOU who fails when, strictly speaking, it isn't.
It's just bad
or insufficient advice that you've followed.
Thus, there
are tremendous benefits to be gained from understanding
the ANATOMY of failure and success.
On this web
site, we give you tips on how to evaluate marketing systems.
We can do so simply because we've developed one that has gone
through ALL the real-life tests and come out the other end as
a system that works uniformly.
Which system
you choose is totally up to you. I won't claim ours is the best
system ever created - but I can guarantee that it is a system
that WORKS uniformly and is easy to use.
If you use
it, you will obtain results.
If you want
to see for yourself, CLICK HERE to get a briefing on the contents
of Modern Accountancy Marketing & Sales Course!
Alternately,
acquaint yourself with our THEME SEMINARS for accounting firms, offering an effective
and comfortable way to obtain crucial knowledge.
We also offer
a telephone
consultation
to new clients.
See what you
can do...
Best wishes
Harry Kafka
HDK
Consultants Ltd
32 Manning Close
Richmond Square
East Grinstead
West Sussex RH19 2DR
United Kingdom
Tel. (01342) 328 116
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E-mail: info@accountancymarketing.co.uk |