Two partners have differing views of marketing. One realizes the importance of marketing for firm growth. The other prefers to avoid marketing at all costs and doesn’t believe that it works. As we talked about various marketing strategies and tools the dysfunction of this firm was obvious. Our conversation boiled down to this question,
“How can Capstone Marketing enhance what we’re already doing – that doesn’t require more of our time?”
What?! Did I hear this correctly? They were losing clients and needed more work. Yet, they were looking for a solution that didn’t require more of their own time. This is a no-win situation.
It’s time to make peace with your practice development.
Accept that firm growth requires marketing, consistent, purposeful activities incorporated into an overall marketing plan
If a firm’s partners don’t consider marketing important no one else will. This is especially true for smaller firms with few partners.
Choose the marketing activities in which you are willing to invest your time and money
There are many choices (see the chart from Gear Up for Growth: The Marketing Trends Manual for Accountants, written by me and Rick Telberg of CPA Trendlines, 2018). Evaluate your skills and the capabilities of your team. Then, agree on what you are willing to do – and do it. Keep each other accountable by tracking activities and following up.
Consider your agreed-upon marketing activities as important as client meetings
Block off time in your calendar for networking, calls to referral sources, writing articles or blog posts, whatever it is you have committed to do – and stick to it. Rescheduling these activities should be the exception, not the rule.
Marketing is a team sport
Attend networking functions together. Bring staff to client meetings. Share how you built your practice to the current day. Mentor your people. Encourage and reward them for marketing efforts and successes. They are your ambassadors. Make sure that everyone is on the same page regarding your firm’s future.
Know when to outsource or hire internal marketing professionals
There are many talented marketing consultants with various areas of specialty and with today’s technology can be located anywhere. Also, my rule of thumb is when a firm generates a minimum of $3 million in revenue it is big enough for a full-time marketing professional. It doesn’t mean that your firm is ready to make this hire, but more on that another day.
Eliminate the energy you spend on resisting marketing and make peace with your practice development. You’ll sleep easier at night knowing you are doing what is best for your firm’s future success.
Jean Caragher is president of Capstone Marketing, providing marketing consulting services to accounting firms including Brand Surgery(SM), marketing and strategic planning, Advanced Pricing Methods®, outsourced CMO, merger integration, client satisfaction programs, inbound marketing, and retreat facilitation. For more information contact her at +1 727.210.7306 or firstname.lastname@example.org.