Branding—What Does it Really Mean?

Source: CPA Practice Management Forum

Review several CPA firm Websites and you will find they are incredibly alike. Branding is about differentiating your firm, yet few firms do it well.

To create a brand identity:

• Develop a value proposition—an explanation of the benefits a client receives from your firm. Accounting firms often define their value propositions with vague descriptions of their capabilities. Statements using phrases like “quality service,” “high integrity,” “comprehensive services,” etc., are essentially meaningless to a prospective client.
• Powerful value propositions emphasize things like:
  • Increased revenues.
  • Lower costs.
  • More efficient operations.
  • Review your marketing materials objectively to make sure they focus on real benefits for clients.
  • Ask clients for their input on what they value about their relationships with you. Too often accountants are afraid to ask.
  • Make sure all partners and staff understand the brand and integrate its meaning into their everyday activities. Communicating your brand internally is a way of assuring that you live up to your commitments.

From CPA Practice Management Forum, CCH Incorporated, 800-449-8114, December 2006, p. 5. For the complete article, click here.