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How Good is The Marketing for Your Accounting Firm?

On a scale of 1-10, how good is the marketing for your accounting firm? While most accountants want to grow their accounting practice so their practice is worth more when they decide to retire, they typically lack the time, skills and desire needed to grow aggressively. For most accountants, the market value of your accounting practice is the most important component of your retirement plan. That’s right, the value of your accounting practice on the open market is the linchpin to how prosperous the retirement years will be. Here are some of the other reasons why more accounting firms are outsourcing their marketing function to companies like Build Your Firm: 1. Marketing is not a core function of the firm and not what we excel at. 2. It is less expensive to grow with marketing than buying another firm. That’s right, outsourced marketing is approximately 50% cheaper than buying someone else’s practice. 3. Outsourced marketing is more sustainable, 365 days out of the year. As a result, the annual new business acquired is higher with a sustained marketing approach than binge marketing for short periods of time. 4. Partnering with marketing experts yields better results. By partnering with marketing gurus, my practice will become easier to sell, more profitable and worth a higher multiple. It’s not about doing more of the same thing, it’s about improving our profit margins, hourly realization rates and obtaining a better balanced lifestyle.