Using an Alliance to Bring in New Business

Mintz Rosenfeld & Co. in New Jersey was looking for a marketing methodology with which their accountants would feel comfortable. It decided to invite local firms to join an alliance, hoping to provide specialized services and technical support (Mintz Rosenfeld has dominant real estate and cost segregations studies niches) to the alliance members. As it turned out, most of the interest is in traditional accounting work. It also offers CPE programs and during these programs it has the opportunity to talk about consulting or other special services it can offer the alliance members.

Mintz has gotten a lot of referrals including valuations services (one of the areas in which it hoped to generate referrals).

There is an agreement that assures the alliance members that Mintz will not take their clients.

When Mintz gets a request for work it doesn’t handle, it refers it an alliance members that does that type of work.

Mintz’s experience has been so positive it says there is no other marketing program that will bring about such swift rewards with just a small amount of effort.

Mintz tries to allow the alliance members to take the credit for services to their clients that could not have been arranged but for the existence of the alliance. It also prices its services to the smaller firms so the latter can earn a profit on the service if they choose.

Other benefits include the generation of merger opportunities in the future, and for the smaller firms, a way to assure practice continuation in the event of a catastrophic event.

From Marketrends, November/December 2005, p.7. Association for Accounting Marketing, Inc. Kansas City MO, 816-221-1296, www.accountingmarketing.org.