By Bill Morrow

CPAs see it and experience it: large firms are growing into new markets, clients’ expectations are higher than ever, and an increasingly noisier marketplace is making it more difficult for your firm to stand apart. To truly thrive, it is essential to develop marketing tactics that will help you reach your target audience and then inspire them to connect with your team to learn more - and to potentially become a client. In the competitive world of accounting, effective marketing of your CPA firm can be the difference between your entity thriving or merely surviving.

However, not all marketing strategies are created equal. Some, in fact, can actually do more harm than good.

As you strive to attract new clients and retain existing ones, it's crucial to avoid common pitfalls that could undermine your firm's reputation and growth potential. Our team at Empirical Consulting Solutions has decades of experience working with firms to build their communications reach. We’ve seen the good, the bad, and the ugly. So, trust us when we say that as you build your outreach there are five missteps you should avoid at all costs!

Trying to Be All Things to Everyone

We often see general information on websites that make a firm sound like the team can handle everything. While all-encompassing capabilities of the firm might be true to a degree, the world doesn’t want a generalist, they want a specialist.

Your target customer wants to know if your firm understands the intricacies of their situation, industry, or profession, and wants to understand if you can help provide a direction that will guide them to the best possible long-term outcome.

Ignoring the Education of Your Audience

The world is in a major transition from baby boomers and Gen Xers to millennials and Gen Zers. While trust and referrals play an important part in the leads equation, today’s under-40 population wants transparency and an understanding of what’s going on. They truly want to learn.

If your firm isn’t providing some type of educational content and insight as part of your digital presence, they’ll go to a competitor who is.

Skipping Social Media

Social media has had a buzz for years (really decades), but it was often viewed by firms in the accounting world as “nice-to-have,” not a “need-to-have.” That has changed over the past 10 years or so. We’re seeing a large amount of traffic and new customers coming in from LinkedIn, Facebook, Instagram, and even TikTok.

If you don’t have an effective social media presence with an overarching strategy, you are missing opportunities.

Neglecting Case Studies and Testimonials

Case studies provide more insight into what your firm does well. They share in a compelling way the results your audience can expect if they choose you.

We find concise, to-the-point case studies to be the most effective at driving leads. Also, look to add testimonials into your mix as a proof statement of the work you’ve done.

Ignoring the Networking

Networking may seem “old school,” but it is still one of the best ways to drive business to your firm. The key to networking and getting results from your efforts is to spend time with the right people. Start with a clear idea of your ideal customer and then work to connect with other professionals who work within the same audience.

The most successful networkers are connectors or facilitators who put people together. When you build a reputation of being a giver and not just a taker, leads will follow.

Conclusion

The important takeaway is to remember that effective lead generation is an ongoing process of learning, adapting, and refining your approach. By avoiding the five mistakes described above, you'll be on your way to building a strong, reputable brand that stands out in the world of accounting and financial services.

Stay focused on providing value. Work to build relationships. Continuously improve your marketing strategies. By following this course, you'll see your CPA firm thrive in the years to come.

Bill Morrow is managing partner at Empirical Consulting Solutions in Narberth, Pa. If you have questions on your current lead generation strategy or want to talk more about the five biggest mistakes outlined in this blog? Bill Morrow would be happy to chat. Reach out to him via email at bmorrow@thinkempirical.com, give him a call at (610) 310-6707, or connect with him on LinkedIn.

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^{Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of the PICPA's officers or members. The information contained herein does not constitute accounting, legal, or professional advice. For actionable advice, you must engage or consult with a qualified professional.}