Marketing and sales

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Public practice has slowly begun to emerge from the paradigm of a compliance-based approach to client service to an entity that is increasingly dedicated to serving the complete financial needs of its clients. Today, many firms are telling their clients that they are a ‘one-stop’ shop for financial management services including financial management and business consulting. And firms are now beginning to think more seriously about marketing.

Marketing of professional firms has always been an issue. This attitude has been found in accounting profession as well as in legal, medical and allied health. A traditional model of practice management supposes that

• Operational emphasis is on billing hours
• Clients predominantly come from referrals
• There is little thought given to marketing strategy
• Marketing is usually ad hoc and not measured or reviewed on a regular basis

Today, the landscape has changed significantly. Consumers are far more aware of their options. They expect a high level of service that focuses on their needs. The marketplace is far more competitive, and there are many more opportunities for growth. Progressive firms recognize and understand the trends that are rapidly changing their profession. A recent CPA benchmark report reported that whilst traditional compliance services were still strong growth areas for accounting firms, there was increasing interest in other services including financial planning, accounting compilation and business advisory services.

The main challenge faced by professional firms in developing and implementing successful strategies for growth is lack of internal capability and resource to make it happen ! Business Aptitude has both the capability and experience to provide specialist marketing support to firms on an ongoing or ad-hoc basis.