Revenue Growth for Accounting Firms
THE FIVE FOCAL POINTS TO GROW YOUR ACCOUNTING FIRM
Business Growth is exciting and the OutFit Group is passionate about creating growth for our clients. We understand the need for Accounting Firms to acquire new customers and generate increased revenue from existing clients. The current market is in a period of rapid change and Firms must strategically align themselves with this market to achieve optimum revenue growth. Those who fail to keep pace with this change will diminish and decline.
Acquisition has traditionally been the fastest way to impact on the revenue of the practice but we promote a Growth Model that leverages on your current market position to drive new Revenue without expensive outlays.
At the OutFit Group we understand each Accounting Firm is different. Factors such as the DNA of the business, the skills of the existing team and the profile of the customers all impact on how we can drive revenue.
Customer Insights for Accounting Firms
Yes, business owners and their staff continually interact, provide services and solve problems for their customers and in doing so accumulate a vast amount of information on the customers they interact with. However this knowledge is accumulated at a “Micro Level” which is very specific to each particular customer and the staff that specifically interact with those customers. The core of this information tends tends not to be documented and what is documented tends to be segregated across systems.
The good news is that this information exists and each Accounting Firm has a wealth of knowledge at their disposal about their customers. When this knowledge is collected, correlated and combined with external market data it provides us with the big picture “Macro Information” business owners require to make strategic, planned decisions to drive their business success.
The OutFit Group has simple methods to extract correlate and analyse this information for our Accounting Firms clients. More information about our Customer Insight service can be found here: Customers
Product & Services for Accounting Firms
The financial nature of the services Accounting Firms provide should put them at the center of many business and financial decisions made by their clients. However many of these decisions are often made without consultation with their Accountant. There is an untapped potential for Accounting Firms here and a tremendous amount of opportunity to build stronger relationships and increase revenue. This break down is usually caused by the client not understanding the capabilities or the offerings of their Accountant.
The first phase is to review the product & service offering to clearly define what products and services are on offer and how we present this information to our clients. Through further analysis we can then identify gaps in the product and service offering. From here new products and services can be developed, existing products & services can be adapted or external providers can be sought to offer a more complete service to the clients.
The OutFit Group are experts in building a product and service offerings that are focused on the needs of the customers and target audience. More information about our Product and Service development can be found here: Products
Strategy Development for Accounting Firms
- Know Your Business DNA
- Know Your Market Place
- Know Your Business Goals
Your Business Strategy allows you to; seek out and draw to you the Customers and Employees that align harmoniously with your Business DNA.
Without an effective Strategy businesses either plod along in mediocrity or run hot and cold as they attempt to implement logical but unconnected tactics.
An effective Business Strategy is the primary vehicle to align the stakeholders, teams and customers with the business. The strategy defines the business’ vision, goals, objectives and the steps needed to achieve these desired outcomes. More information about our Strategy Development can be found here: Strategy
Sales Tools for Accounting Firms
Without the right tools, selling Accounting Services (or any service) is a daunting task. Without a physical product to show customers the line between features and benefits can become blurry. As a result it is not surprising that so few in the Accounting Industry ever get to a level where they feel confident in bringing in new revenue.
The OutFit Group has developed a process to unearth your Accounting Firm’s competitive advantage and the unique vocabulary to communicate your message to the market. We then take this message and develop custom tools to aid the leaders and the team to articulate your product and service offering based on your customers and prospects needs. More information about a Sales Development can be found here: Sales
Marketing Techniques for Accounting Firms
Buyer behavior is changing rapidly and the way businesses communicate with their customers and prospects has to adapt just as quickly. Business and individuals are fatigued, overloaded with information and harassed by a variety of service providers. This makes it very difficult for businesses to share the message of the wonderful products and services they offer. In this market relationships have never been more important but getting an audience with prospects to build this rapport has never been more challenging.
This is why the OutFit Group has developed a two tier marketing approach that combines the traditional relationship based marketing with the modern technology based mediums. You will see with our systematic approach you will be able to present to more prospects and win more clients than ever before. More information about our Marketing Techniques can be found here: Marketing