Gaining New Accounting Customers in a Recession

Today's economic landscape is not very upbeat. However, this is a terrific opportunity to increase your firm. A recession such as this one is a problem for everyone, but with those worries comes opportunity. Arranging to visit with your business network, new sources of referrals and influential clients so that you can extend individualised services during this troubled economic climate can result in new customers as well as an increase in your billing rate.

One excellent way to begin with your customers is to arrange tax planning meeting sessions with them. Make sure to do this before the hectic tax season begins. Most professional CPA websites have calendar functions that can help with appointment setting. The uncertainty of the economy creates an opportunity to explain to your clients that their lives are dependent on impact planning. It has a direct impact on their future.

Tax planning's impact is certainly measured in terms of money, but the real value is in boosting your client's confidence and giving them hope for the future. This provides a real competitive advantage for your business. Your leadership gives your clients confidence and a sense of hope. This will make them more dependent on your firm. It will also help them manage day to day stress. Reducing stress can of course improve your clients' lives.

Tax planning effectively isn't just about minimizing the amount of taxes a client needs to pay over a period of time. It also has to do with investing, managing cash flow, and in some cases, planning an estate. You want to bring your clients lives back to order. This is the true value of effective tax planning. As a result, stress reduction and fear management will reduce negativity and helps increase the client's quality of life.

This type of planning session, when done properly, can have a great impact on your business in terms of clients referring their friends, family, and co-workers. This puts your accounting firm ahead of your competitors. It is an excellent way to expand your customer list. You can also increase your service offerings for current customers.

At the planning session, you should:

1) Listen to and validate the concerns about the current economy. You don't want to sound too optimistic or you will not seem realistic. Your client is not thinking optimistically.

2) You need to relate the concerns of the client to their situation. It is not enough to just listen. The recession affects everyone in different ways. It is not as effective to speak in abstract terms as it is to relate the economy to their particular situation.

3) You must be realistic. Everyone needs to file taxes, it is inevitable. This shifts the client's focus to their lives instead of the act of filing taxes.

4) It helps to provide hope to your clients. You can create a CPA website reference library of topics on which you can coach, which will help you improve your clients' lives by giving them a sense of direction.

Here's how to combine all of these points:

Keep in mind that everyone is feeling stress and anxiety about the economy, and the reality is that it will likely become worse before it improves. This can be especially difficult for clients with kids. To help your clients adjust do more than just file a return, help them out by doing some strategic financial planning with them. Show them that no matter what the future brings they'll be able to adapt effectively.

Recessions are stressful. They bring with them uncertainty and anxiety. Your clients need strong leadership to help them make good decisions, they don't just need someone to file their taxes.

An efficient and inexpensive way to grow your practice's client base is to arrange tax and fiscal planning with influential customers. This raises your visibility in your local area. Your clients will speak of you, telling their friends and family how your firm spent the extra time with them helping them manage their lives and their finances, not just filing their tax paperwork.

Kenny Marshall is an online marketing consultant and one-time Corporate Officer of CPA Site Solutions. His special area of expertise is marketing small firms by taking advantage of first-class CPA websites. While using online social networking sites and Search Engine Optimization forms the basis of his methodology he also stresses the importance of traditional networking and customer service in helping accountants grow their client bases.