Remove roadblocks to securing new clients
Experienced accountants possess a wealth of commercial knowledge and expertise vital for entrepreneurs, as well as small and large businesses. You can use your valuable skills and aptitude for business to attract new business, forge and grow client relationships and build your own firm.
Before engaging with clients regarding your service, ensure your pricing structure is easy to understand and available for potential clients to view. This enables new clients to engage comfortably with you, knowing they can afford your service.
Packaging services offer many advantages
It’s also good practice to package your products and services, so clients understand the value and range of benefits you offer. Introhive.com claims growth in revenue isn’t only produced from new clients but, amongst America’s leading accounting firms, 25% to 40% of new business is generated by cross-selling to new and existing clients. These strategies work locally and abroad. Extend your services to your clients over a 12-month period, helping them remain within budget.
First impressions count as do positive onboarding practices. It’s worth remembering, though, that great professional relationships don’t occur overnight. They’re developed through hard work and adding value.
Make sure that after initial dealings with new clients, they feel comfortable and that they understand the importance of contacting you when making big business decisions with large financial consequences. These could include big property leases, selling subsidiaries, and mergers and acquisitions, which all have major tax implications. You can provide your clients with appropriate advice with these, while simultaneously growing your own business.
That’s because packaging your products and services will help you remain busy all year and help you enhance your cash flow. It also promotes your image and profile as a trusted advisor, making you attractive in the marketplace.
As you pursue this sustainable business strategy, Quickbooks can support you by:
Sending customised quotes and invoices to ensure fast payment.
Tracking your sales and expenses and sorting receipts simply and easily.
Increase your average sales price
By successfully packaging your products, you’ll be able to increase your averages sales price, a practice successfully adopted by leading food service retailers. Have you ever been convinced to spend more at McDonald’s with the sales pitch: “Would you like some fries with your hamburger? What about a nice glass of Coke?”
Many successful QuickBooks online accountants are similarly successful, rolling the costs of QuickBooks license fees into a monthly client retainer. This enables them to pocket up to 50% of the fee as a passive income.
Conduct your first meeting productively
Break down initial roadblocks by offering your first meeting free of charge. This removes the initial risks from clients and helps you to be clear on the benefits you can offer them.
Be proactive, drive the meeting and ask your potential new client to share details about the business. This opens cross-sell opportunities for you, for example, the auditing of a company’s staff pension fund, which takes place later in the year or your tax and valuation services. It also enables you to do an initial business health check, for example, assessing whether the client is well-organised or less proficient and requires hand-holding. This valuation will ensure you can give them an accurate quotation.
Major global accounting firms use this interview to assess whether fees are an issue for new clients. Those charging by the hour often waive the initial fees associated with on-boarding. This safeguards new clients from being penalised for moving their business to you, making you an attractive option for companies looking for a new accounting firm. Would this strategy work for you?
Accountants are usually conscientious, task-oriented and introverted, suggests Bomamarketing.com. If you find these characteristics stand in your way from being able to sell your services and grow your firm, enlist the help of a sales coach to overcome these barriers. In particular, your coach will help you to ask your new clients the right questions and speak persuasively to promote yourself.
By following these simple tips, you’re likely to be able to attract new clients, maximise your business relationship with them and ensure they will keep coming back to you for many years to come.
For more information on how QuickBooks Online Accountant can support you and your practice click here.