PRACTICE MARKETING blog

Marketing does not have to take a back seat just because you are swamped during tax season. In fact, this is one of the best times to grow your practice. Your prospective clients are right now getting frustrated with their current practitioner because they are:

- Dealing with an inexperienced tax preparer — not you, a CPA; - Not having their calls returned from their current accountant; and - Not receiving the high-level service that you provide.

By following these three tips, marketing will be a natural extension of client service.
#1: Answer a Question With a Question

Your clients will naturally have accounting questions about their household income and/or business. They’ll ask about new write-offs, tax incentives and mundane bookkeeping issues. Of course, many clients don’t know what to ask.

As their trusted adviser, it is your responsibility to bring up insightful questions. Moreover, if they do ask a seemingly simple question, there’s probably more to it, as surely you’ve found out in the past. Instead of just answering their question, ask a follow-up, such as: “What prompted you to think of asking it now?”; “I’m sure there’s more behind that question.”; or “How would you answer that question for yourself?”

Such questions help to uncover, discover and reveal misgivings, misunderstandings, assumptions, myths, stigma and mistakes that would otherwise remain hidden under a shroud of embarrassment, blank stares, shrugs and absent-minded head-nodding. Of course, it’s easier and quicker to simply answer and move on to the next tax return. After all, you’re the financial doctor and you have a waiting room full of tax patients. Then again, how does it feel when your doctor dismisses your questions and your presence in mere minutes of his time?

In the age of blogs, newsletters and online group discussions, the answers your clients are seeking are out there. They may not be complete, thorough or correct, but your peers — who are willing to invest time educating your clients — are waiting with greener grass. More importantly, client retention is as important as new business.

So, take the time to peak under the hood by asking follow-up questions, which will lead you to more business and help avoid costly surprises.

Click here to read #2 & #3 ways to grow your practice this season on the AICPA 'CPA Insider' Newsletter website...

On May 11, 2010, I was a panelist on AICPA/PCPS’ webinar: The Future Is Write Now: How marketing your expertise must change! I previewed the webinar in my April column. Pithy writing sparks more referrals when your practice is already distinguished.

More and more CPA practices are becoming specialized and focused. Thus, many accountants are enjoying the same peer-to-peer referrals as attorneys have for decades. Moreover, distinguished practices tend to be more profitable and fulfilling. If you run a humdrum practice, you can add more luster to your practice with these 4 facets:

1. Specialized Credentials

Beyond CPA, what other specialized designations enhance your name? The AICPA offers many accreditations, including Personal Financial Specialist (PFS), Accredited in Business Valuation (ABV), Certified in Financial Forensics (CFF) and Certified in Information Technology Professional (CITP). Likewise, many CPAs are also attorneys, MBAs and more.

Originally published in the AICPA ‘CPA Insider’ newsletter. Please click here to go to their site and to read more.

On March 11, Mark Bullock gave a talk to about 35 members of the Family Divorce and Mediation Council of Greater New York (FDMC) on the subject How to Market Mediation Practices.

The Family and Divorce Mediation Council of Greater New York (FDMC) is a membership organization made up of mediators, lawyers, mental health professionals, and financial specialists. One of the group’s functions is to educate, inform and support those who work in the family mediation field through monthly continuing education events and membership networking events

Coordinated by Joan Moo Young, Esq., Mark’s 45 minute presentation covered a range of subjects from starting and growing a practice to marketing cost effectiveness and personal branding.

Along with Mark, Ada Hasloecher, Mediator, Adam Berner, Esq., and Joy Rosenberg, Esq. served as panelists talking about their experiences in building successful mediation practices. Questions were taken throughout the presentation and during each panelist’s talk. The attendees received a lot of practical and usable information for marketing and growing their mediation practices. In the end, feedback from the attendees of the event was very strong and positive.

Mark is looking forward to possibly doing another hands-on workshop in the fall for the FDMC membership.

To learn more about FDMC, you can click here to go to their website.

To speak with Mark about your marketing needs, please feel free to give him a call.

Mark V Bullock
Partner / PMA
Practice Marketing Advisors
Mark@MBullock.com
631-754-0800

Practice Marketing Advisors Sponsors
NYSCDM 28th Annual Conference

Practice Marketing Advisors (PMA) Mark Bullock and Vik Rajan are proud to be sponsors of the New York State Council on Divorce Mediation’s 28th annual conference entitled Mediation, Taking It to the Next Level. The Conference will be held May 5-7, 2011 at The Doubletree Inn, Tarrytown, NY.

The New York State Council on Divorce Mediation is a non-profit organization dedicated to promoting the highest professional standards of divorce mediation. Among its services to the community, the Council works actively to promote family wellness by increasing public awareness of mediation as an alternative to the traditional adversarial divorce process.

Mark and Vik advise numerous mediators on how to successfully market their practices and create name brand recognition. Keynote speakers last year, Mark and Vik, strong proponents of alternative conflict resolution which the mediation process provides, and are both very happy to continue their ongoing relationship with the NYSCDM as conference sponsors this year.

If you would like to learn more about the conference and/or register, click here or you can go to the NYSCDM website and click on the “Calendar of Events”.

For more information on membership in the NYSCDM, click here.

For information on the Best Practices for marketing your practice or business, please contact Mark and/or Vik. Their methods have worked for others, and can work for you!

Over the summer, my partner (Mark Bullock) and I finally became frustrated!

We would show our clients what to do, how to do it, and even schedule marketing activities into our clients' calendar. Inevitably, some exigent client or staff matter would arise. Our clients simply could not take time away from clients, practice management, or family to do what they knew they must: Consistent blogging, Linkedin activity, and deploying their monthly newsletter. Many also lacked the patience and tech skill often required.

So Mark had a simple idea which I turned into an efficient process. I explain it in this video:

Voila... now our clients would have the blogging, the e-networking, and newsletter DONE for them, with their words, their personality, their brand, their approval, with very little of their time. There were a few kinks to work out... and improvements underway... but it was ready to launch as a public offering: Thus, phoneBlogger.net launched last month. It's a simple administrative program, with profound results...

What do you think about our premise: "Would consistent marketing to your contacts lead to more word-of-mouth referrals?"

Sow your marketing seeds now before tax season really besieges your practice.

Let’s take a bi-monthly approach. Two-month seasons help you to better focus your time and money. Six seasons: 1) January and February, 2) March and April, 3) May and June, 4) July and August, 5) September and October and 6) November and December. Take some time to feel the priority of each season.

Originally published in the AICPA ‘CPA Insider’ newsletter. Please click here to go to their site and read more to read more.

How using a dashboard can make all the difference.

A marketing plan is typically a bound document, predicting the right actions for growth. It usually covers more than a few months, often a year and sometimes longer. It includes your vision, interim goals and other purpose statements of why you’re doing what you intend on doing. Writing a marketing plan sounds great. Actually finishing a comprehensive market analysis can feel even better.

A marketing plan, by itself, can be pretty ineffective. Rather, for our clients, we implement “Marketing Action Plan (MAP) Dashboards.” An actively-managed Dashboard can help your marketing team stay nimble, pro-active, strategic and focused on the most time- and cost-effective marketing efforts.

Originally published in the AICPA ‘CPA Insider’ newsletter. Please click here to go to their site and read more to read more.

A new way to zero in on new clientele.

October 18, 2010
by Vikram Rajan

“Seminar Marketing” is a catch-all phrase that includes public presentations, speaking engagements and classes. In some form, it should be a mainstay of your Marketing Action Plan (MAP). When done right, seminars produce a bounty of leads, client loyalty and billing and brand you a niche expert. Here are five specific dos, don’ts and thumb-rules when it comes to seminar marketing.

Do: Have a Goal for the Year How many seminars do you want to do this year? “As many as I can,” may be your answer. A goal is meant to challenge you: How many seminars do you do now? If the answer is close to none, or sporadic, at the very best, then a goal of four seminars in the next 12 months would be a good start. In my column, Six Marketing Seasons of 2010, I revealed the pros and pitfalls of two-month segments. You can use that as a guide as to when you should schedule your seminars.

Originally published in the AICPA ‘CPA Insider’ newsletter. Please click here to go to their site and read more to read more.

Five marketing strategies show you how

You survived September’s quarterlies, and this month’s extensions. As you begin to endure the flurry of compilations, audits, and review, don’t let your marketing lapse! The last quarter is the perfect time for CPAs to grow new business, for two main reasons:

1.In the next few weeks, you will naturally be speaking to your clients.

2.Financial review is end-of-year zeitgeist.

Originally published in the AICPA 'CPA Insider' newsletter. Please click here to read more

Is Your Business Card Hurting Your Business? Use these strategies to avoid damaging firm growth.

Even more than your website, your business card is the single most important marketing material you have. It’s low cost, most kept and most handed out to potential clients (by you and referral sources). Ironically, a CPA’s business card is often the most uninteresting and uninformative part of marketing the practice.

While thousands of hours and dollars are used to glamorize websites (and for good reason), a fraction is often paid to designing the form and function of business cards. People take an inordinate amount of time staring (hopefully reading) clever business cards. Moreover, a simple “call to action” on a business card can quickly turn a new acquaintance into your next big client.

Originally published in the AICPA 'CPA Insider' newsletter. Please click here to read more >>

I have been speaking about this for the past month... on Friday, Mark Bullock & I will be presenting a CLE seminar to the New York State Council for Divorce Mediation. We will be sharing many marketing techniques for up and coming divorce mediators. Many of them are practicing attorneys, and thus must comply with the attorney advertising codes of ethics.

March 12, 2010: U.S. Court of Appeals for the Second Circuit ruling: New York’s lawyer advertising rules are unconstitutional http://www.law.com/jsp/nylj/PubArticleFriendlyNY.jsp?id=1202446174823&hbxlogin=1

HERE'S MY SUMMARY OF THEIR RULING:

• Actors can portray judges but not fictitious law firms
• Testimonials from current clients relating to pending matters are OK
• Attention-getting techniques unrelated to attorney competence are OK (except claims that cannot be measured/verified)
• Nicknames, Mottos, Trade Names, & Logos – even implying results – are OK

UPHELD – Moratorium on targeted advertising

Of course, the ABA professional responsibility Attorney Advertising disclaimers remain: For example, when using testimonials, etc., attorneys should use what I call “The Weightwatchers Disclaimer": Prior results do not imply future results.

Last week, the AICPA published my latest marketing column, which previews my May 11th webinar: AICPA/PCPS The Future Is Write Now: How Marketing Your Expertise Must Change!

My column excerpt is below; or click here to read the published column in the AICPA 'CPA Insider'.

The purpose of all marketing writing is two-fold, R&R: It must help you be more Remembered and trigger Response. To enable the right response, e.g., Referrals, your writing must Repeat a simple “call to action.” In other words, what do you want the Reader to do? When should they take action? Why should they choose you?

Often, a prospective client or referral source won’t drop everything to give you a call (or give your number to someone else). Rather, you must be Remembered at the right time (“trigger moment”). Moreover, there must be a Reason for them to Recommend you. Beyond your personality, your Reputation increases as you distinguish your expertise, while Keeping It Short & Simple (K.I.S.S.).

We remember what is Repeated. From logos, jingles, taglines, to sound-bites, Repetition is the end all, be all, of branding. Lengthy, esoteric jargon is difficult for your referral sources to Remember, let alone Repeat. There are 7 rungs of action-enabling expertise. As you proceed up the 7 rungs, you and your expertise will be more Remembered & Recommended. Read my AICPA 'CPA Insider' column for the first 4 rungs (attend the May 11th webinar to learn the final 3):

Many speakers hide behind their PowerPoint slides, I prefer not to use PPTs at all. Instead, I opt for a simple, interactive handout which serves as my notes while speaking and for them to remember. By keeping much of it blank, it forces participants to pay attention! Also, the act of writing reinforces memory (and keepsake value of my collateral).

Remember to ask questions: This puts the attention from what you're saying to what they're thinking. And what they're thinking should be what you're saying! PPT slides are often a crutch for co-dependence; it can be a catalyst for interaction. Also, they may not be plants, but it's great to interact with participants you know already (and know what they would say already). If you can't ask them questions, at least mention them. Everybody likes to be complimented from stage!

When I do 'Marketing with LinkedIn' seminars, I feel obliged to walk through a series of slides of {power} Points and Screenshots. (I don't rely on any supposed WiFi that may be wafting.) So, one of the greatest compliments I can hear - which I did hear again last week - was "wow, you really made that topic interesting!" Of course, that means 'Marketing with LinkedIn' sounds like an inherently boring topic. To me, it is not.

Within professional codes of ethics, attorneys and accountants can make great use of LinkedIn to (not share advice, but) network through their colleagues and clients. FINRA does allow financial advisors to use sites like LinkedIn, so long as every movement is archived (which can be done simply and inexpensively through 'social middleware.') Of course, the vast majority of broker-dealers and insurance agencies still prohibit any LinkedIn access. Those who understand the value of networking, and how to work within FINRA's compliance, can have a real competitive advantage; e-mail me to ask me how.

Below is a video presentation of my latest 'Marketing with Linkedin'. [Click play (the big picture will play a small video); pause it for a few seconds to enable the buffer to stream the video smoothly.] The screenshots have been updated for 2010; the slides are interlaced throughout the video. I have also uploaded the PPT below for your download. Feel free to share it with others; please leave the content (and my contact info) intact.

Click To Play

 PowerPoint: Download | Embeddable Player | Hits (581)

At yesterday's 'New Marketing for Practicing Professionals' seminar yesterday (at the Nassau County chapter of the Society for Financial Service Professionals), I recounted how my client was exasperated at all the different parts of on-line marketing. I quickly mapped out the 3 on-line components necessary for any Branded Expert: newsletter <-> blog <-> status updates (with profiles). Here's how it looks:

I explain a bit of it in the seminar video.

For the third year in a row, the American Bar Association is rating the bLAWg 100 as the Cover Story of their December 2009 issue. They have 9 categories of editor-picked blogs which you can now vote for: Click for the complete list. This is extremely significant for the legal profession; the ABA has mainstreamed the use of blogs as informational (and promotional) resources. Thus, there should be no excuse or hesitation by any lawyer to start a blog - especially if you have a newsletter. The ABA has strict codes of ethics how websites, blogs, and other promotional materials must be labeled. But as followed, the ABA not only condones blogs, but wants to promote yours (if it's good enough). So start now, and you can be among the dozen new blogs for 2010 (40 new bLAWgs made it for 2009).

I also commend the ABA for taking such a pro-active and progressive stance on blogging. As a premier professional association, I am sure much debate went into this new form of media and its potential consequence on the public. The Internet has brought on new complexity for the profession, like lawyer ratings; not all of them are so welcome as bLAWgging.