how to assess your firm in the critical area of growth marketing … how to assess your... ·...

How to Assess Your Firm in the

Critical Area of Growth – MARKETING & BUSINESS DEVELOPMENT (SALES)

www.CPAMarketingConsultant.com

Presented to the CPA Leadership Institute by Lisa Tierney, CLSC

Marketing Strategist & Certified Life Coach

Best Practices for GROWTH

Lisa Tierney, CLSC

Former Chairperson, Membership Satisfaction Committee at the national Association for Accounting Marketing

Former President and Vice President of the Philadelphia Chapter of the Association for Accounting Marketing

Panelist for the CPA Leadership Institute / Best Practices Network

Former Chairperson of the Marketing Committee of BKR International (a network of over 140 CPA firms worldwide)

2009 - received certification in coaching - addressing the personal, professional and business connection of MIND, BODY and SPIRIT


Lisa Tierney, CLSC

Increased visibility of practice areas through targeted multi-faceted marketing campaigns (i.e. 75-person CPA firm with revenue growth averaging 8% for three years in a row)

Growing a CPA firm’s niche area (forensic accounting and litigation support services group) from a one-person, $650k practice to a five-member group which netted $2.5 in new business annually

Leading the efforts to increase (quadruple) a 13-partner CPA Firm’s publicly-held clientele in two and a half years resulting in an increased revenue of over $420k annually

Motivating CPAs with tailored individual marketing plans (i.e. regional firm increased practice development hours for senior staff ranging from 6% to 18% in 2008)

Launching one of the first ever electronic (pay-per-click) marketing campaigns which promoted a CPA firm’s business valuation practice area – the first year it returned a 600+% return on investment; the second year 400+% (I won an award for that one from the Association for Accounting Marketing)


Is “Good” GOOD Enough?

Many CPAs / Most Firms are wondering the same things How are we going to transition the retiring baby boomers’ clients successfully? How do we motivate our staff (the little we have of them)? How do find the time to market when we are so overworked? How can we grow in a way that makes sense – i.e. supports out marketplace, motivates our people and improves our profitability?


Wouldn’t It Be Great If….?

Good … to GREAT!!!


5 Best of the Best – outstanding!!!

4 Excellent – we got this down!

3 Good - nothing wrong with good

2 Just OK

1 Poor

0 We’re just not doing it


Rating Scale

Polling Question - #1……?

Best Practices are proven methodologies that work time and time again. Answer: True Answer: False


Growth – Best Practice #1


Criteria for Growth -

HOW DO YOU RATE?

5 Best of the Best – we own this!

4 Excellent


2 Just OK

1 Poor – we’re just not doing it

There is a strong marketing culture at

the firm.




HOW DO YOU RATE?

9-10 Best of the Best – we own this!

7-8 Excellent

5-6 Good - nothing wrong with good

3-4 Just OK

1-2 Poor – we’re just not doing it

Clients are consistently satisfied by their

overall experience with the CPA firm.




Professionals have a compelling value

proposition and a clear understanding of their

ideal client.

HOW DO YOU RATE?


4 Excellent


2 Just OK





Partners/teams conduct brainstorming

sessions about top clients and ask

them for referrals.

HOW DO YOU RATE?


4 Excellent


2 Just OK





Marketing efforts are leveraged firm-wide.

HOW DO YOU RATE?


4 Excellent


2 Just OK


Polling Question - #2……?

Brainstorming sessions conducted on behalf of top clients often result in: A: Goodwill for the client relationship B: Revelation of additional services needed by the client (that was previously unknown) C: Educates other staff on the of issues faced by this type of client (i.e. industry / niche) D: All of the Above





Pipeline reports are updated and distributed

among professionals for review at a monthly

or bi-monthly meeting.

HOW DO YOU RATE?


4 Excellent


2 Just OK





The firm educates and inspires its staff by

hosting informative (and fun) events

throughout the year.

HOW DO YOU RATE?


4 Excellent


2 Just OK


Coaching & Consulting

Empowerment of professionals so they can achieve results

Ensure bottom-line accountability and follow-through

Encourage pertinent thought leadership

Emphasize efforts around business development

Provide insight on market segmentation and client analysis

Determine effective strategy & market positioning

Develop individual marketing plans

Initiate company-wide incentive programs

Address organizational sensitivity

Coach retiring partners toward a graceful exit

Develop leadership skills among up and coming professionals



Any Questions…?

Lisa Tierney, CLSC

(215) 277-5756

[email protected]

www.linkedin.com/in/lisatierney


More on the Best Practices Network

• The CPA Firm Self-Assessment Tool™

• The Critical Areas

• Leadership & Management

• Merger Readiness

• Partner Admissions / Buyout

• Marketing & Business Development



• The CPA Firm Self-Assessment Survey™

• Less than $3 million

• $3 to $7 million

• More than $7 million

• The Best Practices Focus Group

• Analyses of the results of the surveys

• High level performance of best practices • How to determine which best practices

are your highest priorities • The experiences of other member firms



• The Four Step Growth Process

• Review the best practices

• Rating of your firm’s performance

• Submit your ratings

• Receive a categorized report

• Create a plan for improvement

• Attend / Participate in the focus groups

• Repeat the process, as appropriate

• New segments will be added each year


So … What’s Next?

Best Practices Network

Dig deeper into the criteria (30) of the critical areas of growth

Help you evaluate where you are based on the size of your firm

Watch for a follow up communication

http://www.cpaleadership.com/public/The-Best-Practices-Network.cfm

how to assess your firm in the critical area of growth marketing … how to assess your... ·...

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