What Marketing Initiatives are Successful Today?

Source: Partner’s Report

Responses to the 2009 CPA Firm Practice Management Survey about marketing strategies that are working for their firms today included the following:

• Word-of-mouth and referrals by clients with whom this medium-size firm has a personal relationship. (43 FTEs)
• Showcasing the expertise of assurance and tax professionals through technical articles, speaking engagements, and direct mail. This approach enforces the firm’s brand image of integrity, passion, trust, and honesty. (22 FTEs)
• Cold calling for specialized product line, and new products marketed to existing clients. Virtually no marketing budget. (7 FTEs)
• Servicing clients well results in additional services and new client referrals from our existing clients. (19 FTEs)
• Ongoing lunches with existing clients, bankers, attorneys, etc. (17 FTEs)
• Web site. It is a must for recruiting and doing business in today’s market. (25 FTEs)
• Name recognition through sponsorships/memberships, networking events, public speaking opportunities, and electronic newsletter (87 FTEs)
• Seminars and newsletters build good will and demonstrate expertise in niche. (88 FTEs.)

Source: CPA Firm Statistical Analysis Reference Handbook 2009 (www.ioma.com/cpaa).

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From Partner’s Report, The Monthly Update for CPA Firm Owners, Institute of Management and Administration, Inc., [email protected], March 2009, p. 10.

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