What does your ideal client look like? Patrick McGloughlin helps accountancy practices answer that exact question. He has been helping accountancy practices attract their ideal clients for 19 years. His business is Accounting for Growth is based in Loughborough in Leicestershire. He specialises in marketing for accountants in public practice. What he has to share with us is relevant not just to accountants but any professional services firm.

There's a customer persona help sheet to go with todays show, you can download it at http://thenext100days.org/90download


Why marketing for accountants?
As Kevin describes, accountants don’t have a marketing bone in their body! They used to be restricted in their advertising. They were allowed a brass plaque outside their office.

20 years ago, the rules for professional practices were changing. Patrick had just taken on a new client, an accountancy firm. The opportunities were enormous. Over 6 months he stopped working with media clients and concentrated on accountants. Marketing for accountants quickly became Patrick's entire business

Patrick McGloughlin from Accounting For Growth
What was their main problem?
Differentiation. The basic sales and presentational skills. Large proposal, burying the fee deep into the report!

It used to be that the client had to comply with the accountant’s structure. Now, it is the accountants that are focusing on clients.
How to start working with accountants?
The first question is “Who is your ideal client?”. If you are going to take on a new client, they may as well be a good one. Even today, when Patrick coaches, the accountants, when asked to list their unique strengths, what is special about them, it tends to be the same list of attributes:

We are proactive
We are client focused
Especially emphasise that we really care about the client
We work with big and small businesses

They are generalising RATHER than focusing in on the clients they can help.

The first thing is to work out WHO gets best value from working with you? Who’s lives have you changed? Tell us about the work you are most proud of. Patrick tries to get them passionate! They are, but the day to day work takes over and we can lose touch with those special moments!
Should they be talking about their expertise in specific sectors?
Yes. If you understand clients in my industry, the conversation is more advanced. You can evidence it. Then you can bring up excellent case studies. Next, you can show me the difference you can make. That can be a key area. Niches.

The outcomes that accountants bring about for their clients

For example, a client who helped a business owner who was struggling to get a VAT rebate. They were in danger of closing before they had even opened up. The difference the accountant made, getting the rebate back in a week, then he graded each customers and the product base and ensured the client marketed the higher value products.

The market is changing

Work is commoditising. Accountants need to remain relevant. They must play a role in improving profitability and improving cash flow. By ultimately improving the lives of business owners. As opposed to just keeping them compliant.

So, accountant should move from compliance – that’s a given, to knowing what keeps their clients awake at night.
Have accountants become marketers?
Patrick thinks so. Traditionally, an accountant slams down a set of accounts, hands you the bill and you see him in 12 months’ time. There is no real value. It’s a necessary evil.

The more focused the analysis is from accountants, the more you can highlight opportunities.

Accountants must help not just with the data, but with the interpretation of that data. They’ll help you make better decisions. Which is going to increase your margins. And you’ll have a better business.

For many business owners, the figures in the accounts mean so little to them.

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