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Firm Management

3 Secrets to High Performing Accounting Firms

High performing firms are excelling in marketing culture, marketing goal achievement, marketing plan development, and more according to the 2018 Marketing and Business Development Strategies at Accounting Firms study by Capstone Marketing and Bay ...

Jul. 31, 2018

High performing firms are excelling in marketing culture, marketing goal achievement, marketing plan development, and more according to the 2018 Marketing and Business Development Strategies at Accounting Firms study by Capstone Marketing and Bay Street Group, published by CPA Trendlines.

In fact, when asked to rate their firms on a scale of 0 (Poor, Competitive Laggard) to 100 (Excellent, Best in Class) the average rate for high performers was 92 compared to 24 for low performers.

“Over the past 18 months, 66% of high performing firms have increased their marketing and business development activities (time, money, and/or resources) vs. 37% for low performers,” said Jean Caragher, president of Capstone Marketing. “This investment is paying dividends in firm growth.”

The topline results of the survey are free to the participants and detailed analyses and recommendations are scheduled to be unveiled in a series of 30-minute webinars starting with:

“3 Things High Performing Firms Don’t Want You to Know”

Tuesday, August 7, 2018

2:00-2:30 p.m. ET

Accounting firm executives, managers, and marketers can register
at http://go.capstonemarketing.com/high-performing-firms-webinar

According to the survey, high performing firms are:

  1. 8 times more likely than lagging firms to have a marketing culture.
  2. More than 6 times more likely to be satisfied with their marketing strategies and activities.
  3. More than 4 times more likely to follow a written, strategic marketing/biz-dev plan.

“Clearly, high performing firms are doing many things right, which makes them more competitive,” said Rick Telberg, CEO of Bay Street Group LLC. “Low performing firms have the opportunity to learn from the best in class firms.”

 

The 2018 Marketing and Business Development Strategies at Accounting Firms study is a collaboration of Capstone Marketing and Bay Street Group, published by CPA Trendlines. The complete results can be purchased at here (https://cpatrendlines.com/shop/jr18mbde/).

At Capstone Marketing (https://capstonemarketing.com), Jean Caragher gets things done. With 30 years of experience working solely with CPAs, Jean knows the challenges and opportunities firms face today. Her experience and knowledge, combined with her practical approach, help growth-focused CPA firms attract the best clients and talent. A well-respected industry specialist, Jean is an inaugural AAM Hall of Fame inductee, a multiple AAM-MAA award winner, and a CPA Practice Advisor Thought Leader. She has twice been named one of Accounting Today’s 100 Most Influential People in Accounting.

Capstone Marketing provides a variety of services including:

  • Brand SurgerySM
  • Marketing Audits, Planning and Implementation
  • Client Satisfaction
  • Retreat Facilitation
  • Inbound Marketing
  • Outsourced CMO

At CPA Trendlines (https://cpatrendlines.com), Rick Telberg is the tax and accounting profession’s leading researcher, analyst and commentator. As an industry executive, he has played leadership roles in such diverse media and commercial ventures as Accounting Today, WebCPA, SmartPros, CPA2Biz and the AICPA.

CPA Trendlines provides actionable information, strategic insight, and results-driven solutions to the professional tax, accounting and finance communities — and the vendors who serve them.

Visit CPA Trendlines for the latest research and analysis.