7 Ways to Grow Your Firm in 2022
Are you ready to grow your firm in 2022? There are several ways to do so, from adding more clients to offering additional services. While this list won’t tell you how to grow your firm or improve your existing services, it offers several possibilities you may want to consider when you’re ready to expand.
1. Start a blog
If you rely on the internet to find new customers, one of the best ways to attract them is to offer a blog. When regularly updated, a blog can help advertise your expertise. For example, potential clients may be searching the internet looking for tax tips, and they run across your blog. If you do offer a blog, make sure include a ‘Contact Us’ option, where those interested can request additional information or make an online or in-person appointment.
While the thought of writing a blog regularly may seem overwhelming, remember that blogs don’t need to be long to impart knowledge. Divvy up the tasks between team members, so each can write about their area of expertise to keep the content fresh. And if you find yourself overwhelmed, you can always outsource the writing.
2. Differentiate your firm:
As a CPA firm, you likely offer many of the same services as your competitors. So, ask yourself this: “what differentiates your firm from any other CPA firm?” For example, if you offer additional services such as bookkeeping/accounting services or payroll services, make sure that you communicate that to potential clients via your website or through your marketing materials. Whatever makes you stand out from the crowd, make sure everyone knows about it.
3. Find your niche
Another way to distinguish your firm from the competition is to offer services designed for niche industries. If you have several doctors or dentists as clients, why not specialize in accounting for medical/dental practices? Perhaps you’re technologically savvy. If so, you can consult with clients to find and install the best software for their business.
4. Keep your website up to date
If someone visits your website today and returns to the site three weeks later, will the content be the same? While parts of your website are static and won’t change, even your homepage should be updated with a banner or calendar of events regularly. Remember, your website should serve as a repository of information for both clients and potential clients, with information that is updated regularly. In many cases, your website is the first thing that potential clients may see. Make sure that it does a good job of representing your firm.
5. Become active on social media
Some people love social media, while others consider it tedious but necessary. Wherever you stand on the social media debate, but with more than 3 billion people worldwide using some form of social media, there’s no getting around the fact that in today’s world, it’s a necessity. For example, accounting firms can post case studies on Facebook, and connect with potential and current clients using LinkedIn and Twitter. But as with blogging, make sure that you establish a regular presence on whatever platform you choose.
6. Create a referral program
One of the best sources of new business may be your satisfied clients. Establishing a referral program that benefits both new and existing clients can help your firm grow. If your clients continually sing your praises, why not ask them to refer your services to others? And if the referral becomes a regular client, be sure to reward your current client with a gift card or other appropriate gift.
7. Offer additional services
Expanding your menu of services is a great way to increase revenue. For example, if you mainly focus on preparation and tax planning services, consider adding bookkeeping services to the mix. Small businesses, in particular, may be interested in farming out daily business accounting tasks, particularly if they’re brand new. Adding additional services can also increase revenue from existing clients while also making your firm more attractive to new clients as well.
Managing growth can be challenging, so make sure you consider all the benefits (additional revenue) and challenges (finding qualified employees) so you can make 2022 your best year yet.
Mary Girsch-Bock is a former accountant and non-profit development specialist who began her freelance career reviewing software and never stopped. A former QuickBooks beta tester, Mary also writes general business and technology articles, with her work appearing in The Motley Fool, The Blueprint, CPA Practice Advisor, Law Office Computing, PropertyManager.com, Albuquerque Business, Legal Assistant Today, and Advisor Websites.