The Latest Trends in Accounting Marketing

To compete, high growth accounting firms are spending more on average for in-house marketing staff, but their marketing budgets aren’t much higher than the budgets of low-growth firms. That’s because they are spending their marketing dollars differently, and with better results for the top line.

BKR International looked into the winners and losers in accounting marketing tactics, forecasting what high-growth firms will pursue in 2016.

Firms will spend more on:

1. Websites and SEO.

According to Acquity Group’s annual State of B2B Procurement study, 94 percent of business buyers do some form of online research when buying services. High growth accounting firms have mobile-friendly and modern-looking websites. They are using search engine optimization (SEO) to get prospects to their websites, and they are making updates to keep them coming back.

BKR noted that high growth accounting firms are much more interested in analytics that tell them how traffic is getting to their websites and what visitors are doing once they get there to support lead generation and nurturing. It’s all about Google “authority,” that is, how much power Google is giving a website in search results and how to boost authority, that should occupy marketer time in 2016.

2. Content.

Most accounting firms understand that adding content will help boost their visibility and credibility in the markets they want to serve. High growth firms are taking content a step or two further.

They are varying the format of content and they are making it ridiculously easy to share and engage with it. BKR member Cassons in the UK has a friendly, Pinterest style home page and has used video to great effect for their holiday greeting the past two years. The videos continue to live on their website to promote the firm’s culture. The firm’s client stories are also visually interesting and easy to find. http://www.cassons.co.uk/about-cassons

Blogs, done well with key phrases and easy navigation to increase time on site, are also supporting visibility and lead generation. BKR member Hall, Kistler & Co. features different levels of staff authors in their blog, with a structure that encourages social media sharing and easy links to the next blog post or a specific author’s other blogs. http://www.hallkistlerblog.com/

Content effectiveness in 2016 will require a much more strategic focus on analytics to understand which topics are attracting the most search activity (for recruitment and leads), and then gearing new content toward those topics.

3. Networking in associations.

Of course, your prospects aren’t only online – they’re active in narrowly focused associations. “High growth firms are definitely engaging in international association membership to increase their resources for clients across the globe and their access to peer-to-peer intelligence,” said BKR International Executive Director Maureen Schwartz. “Market exclusivity is critical to ensure that members feel comfortable sharing ideas and referrals. For example, Hall Kistler managing partner and BKR board member, Karen Brenneman, recently shared a client story that required support from one of our BKR members in Italy.” (See the video at www.bkr.com.)

In addition, high-growth firms are being very selective about membership in industry associations to connect with prospective clients. They often pursue allied memberships in industry associations. On its website, the Real Estate team of BKR member DMLO, lists its real estate and construction association memberships alongside targeted articles of interest to the real estate community. http://dmlo.com/industries/real-estate/

Targeted person-to-person networking will continue to be a vital strategy for high-growth firms who have researched clear niches. “The best niches are those that allow firms to offer multiple services,” said Jennifer Hughes, CPA, partner with DMLO and BKR Americas board member.

Firms are spending less on:

4. Advertising.

The average person receives 81 emails per day, 15-24 texts per day and 12-15 pieces of mail per day. After receiving such a large amount of content, it’s becoming less likely that a prospect will stop and read your firm’s ad…or even find it.

5. Sponsorships.

High growth accounting firms are being more selective with sponsorship opportunities. They consider important questions including: Is this event putting the firm in front of key decision makers or referrals? Does this sponsorship elevate the goodwill of the firm or individuals at the firm? If the answer to these questions is no, the sponsorship isn’t the right opportunity.

6. Non-educational events.

Events that offer little or no educational value are getting less time and resources by high-growth firms for the simple reason that every marketing tactic needs to provide ROI beyond a nice gathering. While client appreciation events are still important, they often include an interesting speaker or activity that builds the goodwill and credibility of the firm. BKR member Gross Mendelsohn, for example, regularly participates in educational seminars and forums targeted to its prospective client base, promoting those events on its website and social media. http://www.gma-cpa.com/resources/events

Due to the competitive nature of accounting worldwide, BKR members note that marketing budgets in 2016 will remain at similar levels. High-growth firms will focus on ROI-only marketing, throwing out any tactics that don’t produce new relationships or clients. However, a recent pulse survey of accounting marketers by BKR alliance member Ingenuity found that only 8 percent of respondents planned to streamline their marketing strategy through ROI-only marketing. This means high-growth firms may continue to be an elite group.

———-

BKR International is one of the top 5 global accounting associations, representing the combined strength and market exclusivity of more than 160 independent accounting and business advisory firms in over 500 offices and 80 countries.