Practical Proposals Advice

Source: CPA Practice Management Forum

Sally Glick, CMO & Director of Marketing Consulting Services
Sobel & Co., Livinston, New Jersey gives the following advice:

Before the Proposal:

• Document the source of the lead.
• Add complete details of the company to your data base including attorney and banker if possible.
• Using their Web site, First Research, One Source, etc. find out about their products, mission, management team, etc.
• Provide all this information to the partner(s) who are going to meet with the prospect.

Companies often say their selection of accounting firms was affected significantly by:

• Professionalism.
• Evidence of preparation.
• Confidence displayed.

If the marketing director is going to prepare the proposal, he or she should be given a full report on the meeting. Issues such as scope of the engagement, and what the prospects needs (e.g., business advice, quick turnaround, etc.) will be incorporated into the proposal. A good proposal may not win an engagement, but a poor one can certainly lose it.

The proposal:

• Include a concise but detailed executive summary.
• Concentrate on the prospect and its needs.
• Information on the CPA firm should be limited to what is relevant to the prospect's needs. You are not selling services unrelated to those needs.
• Information on your CPA firm should be in the back.
• Include a table of contents, tabs, and the prospect’s logo.

Lost prospects should not be forgotten. Find out why you weren’t selected. Contact prospects annually to see what changes have taken place that might offer new opportunities (e.g., dissatisfaction with the firm selected, industry changes, etc.).

From CPA Practice Management Forum, CCH Incorporated, 800-449-8114, November 2006, p.7.