According to IBISWorld, there are about 93,351 accounting firms in the United States. With such a huge number of accounting firms to compete with, it’s difficult for accounting services businesses to stand out and attract new clients.
There are, however, several ways to add value to your accounting services business and set yourself apart from the competition. Here are seven:
1. Offer a Wider Range of Services
Most accounting firms offer the same services: bookkeeping, preparing tax returns, and providing consulting services. However, you can set yourself apart from the competition by expanding your service offerings.
You could, for example, offer payroll services, financial planning services, or even estate planning services. By expanding your range of services, you’ll be able to attract a wider range of clients.
2. Offer Digital Services
Accounting professionals are required to keep up with technology.
If your accounting services business is still relying on traditional methods of accounting, then you’ll be much less likely to attract new clients. Instead, offer digital accounting solutions for both private and commercial customers.
By offering a cloud-based solution through apps or online portals, businesses will have access to their financial information at all times, making running the business easier overall. Plus, it gives customers peace of mind knowing that they can always see an up-to-date record of their finances when necessary.
With the rise of mobile devices, one can access accounting software from anywhere, making accounting services more convenient than ever before.
3. Market Yourself and Your Business
Most accounting services businesses rely on word of mouth to bring in new clients. While this is an excellent way to get started, you’ll need more than your friends and family if you want to grow a CPA business quickly. This means that you will need to market yourself and your accounting business to attract the right kind of customers.
There are several ways that an accounting service can market themselves, including:
- Social media marketing
- Blogging about relevant topics
- Attending industry events or conferences
- Networking with other professionals in your area
These methods have shown success at growing small accounting firms into larger ones so take advantage.
One key factor here is building up trust with potential clients by showcasing your accounting skills and experience. You can do this by providing helpful content.
4. Offer Free Consultations
For professional accounting services, it’s important to show potential clients that your firm is the right one for them. You can do this by offering free consultations with no obligation on their part.
By providing a consultation service, you give potential clients peace of mind. They are assured of access to professional accounting advice without paying anything out of pocket up-front.
At first, offering free consultations may require a loss. However, over time, you will make up for the loss by winning new clients.
Pro Tip: Make sure you have a solid consultation process in place that allows you to gather all the relevant information from potential clients. This will help you sell accounting services to them more effectively.
5. Showcase Your Expertise
Most accounting services businesses rely on word-of-mouth referrals to bring in new clients. However, accounting firms need to show potential customers that they are experts in accounting and financial advice.
There are several ways you can do this, including:
- Writing blog posts about relevant topics related to accounting or finance
- Offering free seminars to share valuable information
- Writing white papers which highlight important facts and figures
- Hosting webinars
- Providing useful industry-related tools like calculators
- Using case studies based on real-life situations
These methods will help you position your accounting firm as the go-to source for financial advice and information.
6. List Your Service on Industry Directories
Professional accounting firms often have listings on industry-specific directories, which are seen as high-quality sources of information.
By listing on these sites, you can show potential customers that your accounting firm has been vetted and approved by other professionals in the field. Plus, it helps with credibility because people know that they access expert advice when they visit an accounting directory website.
Taxfyle is an excellent accounting directory where accounting professionals can list their CPA services for free.
7. Provide a Monthly Newsletter
A monthly newsletter is a great way to keep in touch with your clients and provide them with valuable information.
It can also be used as a tool to promote new accounting services that you’re offering.
To produce an effective monthly newsletter, it’s essential to include the following:
Editorial Calendar: This will help you plan out your content for the year ahead.
Newsletters Archives: This will give potential customers access to past newsletters they may have missed.
Article Submission Guidelines: This tells contributors how you want articles submitted, including word count, tone, etc.
Design Templates: Having a set design template will ensure that all of your newsletters look consistent.
By having these key components in place, you can produce a high-quality monthly newsletter that will help to promote your accounting services business.
8. Get Involved in the Community
Accounting firms involved in their local community often have a higher chance of success.
There are several ways you can get involved, including:
- Sponsoring or participating in charity events
- Volunteering at local schools or libraries
- Hosting free accounting workshops for the public
By getting involved in your community, you will build trust with potential clients and show them that you’re a responsible member of society.
Add Value to Your Accounting Services
These are just a few ways that accounting firms can add value to their business. By combining these methods, you can set your accounting services apart from the competition and attract new clients.
We hope you found this article helpful. Keep reading our article for more informative content.