Seminars for Accountants
Our seminars primarily focus on marketing strategies for accounting firms and they include the theory supported by practical examples and a demonstration of purpose built tools.
To register your interest for future seminars, email us today on email@example.com
Why You Need to be Marketing NOW!
The demographics of the profession suggest we will see a flood of practices for sale over the next few years and baby boomer practitioners with an ageing client base could be in for a shock. It has been a vendor's market for a number of years but who is going to buy a practice where the top 30 clients are business owners aged over 55? More than 30% of the practice could disintegrate within 10 years and buyers will gravitate away from these practices towards the pro-active, innovative and systemised firms who offer strategic business advisory services, run client seminars, adopt the latest technology (including a quality website) and regularly communicate with their clients.
Many baby boomer principals postponed their retirement plans in the wake of the global financial crisis. As a consequence, they are burnt out and no longer have the energy or passion t o regenerate their practice. Their financials probably indicate their fees are flat lining or possibly in decline and their profitability and level of referrals are also heading south. These factors are repellents for prospective buyers and devalue the business.
This is a wake up call for baby boomers, if you don't start appealing to the next generation of business owners and attract some younger clients you'll pay the price a few years down the track. A decade of GST made a lot of accountants busy but that hasn't necessarily translated into profits. Many firms have simply become 'compliance sweatshops' that are characterised by a lack of capacity and systems, poor growth rates and no marketing plan. Their compliance emphasis means they offer very little job variety, their lower profits mean they pay lower salaries and they perceive websites to be a waste of money, not a recruitment or marketing tool. It's therefore no surprise they struggle to attract quality Gen X and Y staff.
The definition of 'business insanity' is continuing to do things the same way and expecting a different result. If you are one of the 70% of firms who don't have a website or your website isn't attracting new bu siness you need to act NOW. If you don't target niche markets and just hope referrals will happen then it's time for action. There has never been a more important time to be marketing and while there is no silver bullet, you need to recognise that all your business resources play a role in marketing including your staff, right down to your letterhead, business cards, website design, signage and the reception area. If you don't have an 'ideal' type you want in the practice it's time to focus on some niche markets such as business start ups, trades people and clients buying a negatively geared property. It's no coincidence that we have developed tools specifically around these three popular niche areas.
NEXT SEMINAR - NOVEMBER 14, 2016 in Sydney. Click HERE for further details.