Do We Need a Marketing Plan?

Do We Need a Marketing Plan?

Accounting Practice Management

Does your accounting firm need a marketing plan? What a silly question, right? Of course, the answer is YES.

As business professionals, we all understand the importance of marketing plans. However, very few accounting firms have them. When done properly, a marketing plan becomes the roadmap for achieving your business goals.

Unfortunately, most accounting firms do not "commit" themselves to marketing and struggle with lead generation because they already have enough on their plate. Between running your business and servicing your clients, most accountants don't have time to even think about marketing, let alone create a marketing plan to stick to it. But, a marketing plan could be the fundamental piece your accounting firm is missing to generating a steady stream of new prospective clients calling your office.

Let's take a look at why your accounting firm should have a marketing plan.

A marketing plan will help your firm with the following:

  • Details investment and measures results
  • Provides focus and commitment
  • Provides a game plan
  • Gains agreement from key stakeholders

If you would like to move your practice to the next plateau, a marketing plan is a good first step. The best place to start is to evaluate where your firm is currently and what the goal is. Said another way, what do you want the firm to look like when it matures? What are your strengths/weaknesses, and what are some emerging opportunities and threats? How is the firm different from other local practices?

After going through this self-realization phase, the next step is to acquire the knowledge on how to use marketing for lead generation and improve your rainmaking skills. You essentially have two routes you can take when you get to this point. You can either choose to DIY your marketing, by learning yourself how to use marketing for your accounting practice and implementing it (or hiring someone on your staff to do it.) Or, you may choose to outsource it to a marketing professional.

Either way, it's important that you don't let your business wander aimlessly without a marketing plan. Develop a marketing plan and get inspired!

By Hugh Duffy

Hugh Duffy is the Chief Marketing Officer and Co-Founder of Build Your Firm, a practice development and marketing provider for accounting firms. They work with small and medium sized accounting firms and offer a free email newsletter. Visit www.buildyourfirm.com or call 888-999-9800.

MARKET YOUR ACCOUNTING PRACTICE: Whether you choose to do your own marketing or outsource it, Build Your Firm can help. We offer a self-study program called the Accounting Marketing Program which is a system to grow your practice by focusing on reliable lead generation using inbound marketing. For those looking to offload the process, our Outsourced Marketing Program is a complete marketing and lead generation program for accountants. It's a customized coaching and lead generation program created for those who do not want to manage in-house marketing.

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Do We Need a Marketing Plan?