Today's Technology for Tomorrow's Firm.
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Growing Your Firm: The Value of Building a Connected Brand 800-547-7377 • www.CPAPracticeAdvisor.com The opinions given by contributing authors are their own and are not the opinions of our staff. All trademarks used are the property of their respective owner. ———————————————————————————————————————————— Practice Advisor, (ISSN #2160-8725 (print), ISSN #2160-8733 (digital); USPS #017-576) is published eight times a year (April/May, June, July, August, September, October, November and December) by Cygnus Business Media, Inc., incorporating two editions known as CPA Practice Advisor and NSA Practice Advisor, 1233 Janesville Avenue, Fort Atkinson, Wisconsin 53538. Periodicals postage paid at Fort Atkinson, WI 53538 and at additional mailing offces. Printed in the U.S.A. Send all subscription inquiries or change of address to: Practice Advisor, PO Box 3258, Northbrook, IL 60065-3258. Phone: (877) 382-9187 (toll free); (847) 559-7598 (local) Fax: (847) 564-9453 Email: Circ.CPA@omeda.com Subscription Rates: The basic annual rate is $3, based on qualifying associations of 10,000 or more public accountants that may also subscribe for all their public accountant members (certain restrictive covenants apply) for a basic subscription rate of $9 per member for a three-year subscription. One year subscription for all others: USA - $48; CAN $70 GST; INT'L $99 GST #131910168. POSTMASTER, please send address changes to: Practice Advisor, P.O. Box 3258, Northbrook, IL 60065-3258. Canadian address changes to: Canada Post PM40612608. Return Undeliverable Canadian Addresses to: Practice Advisor, PO Box 25542, London, ON N6C 6B2. Publisher: Jim Baker Executive Editor: M. Darren Root, CPA.CITP Editor-in-Chief: Gail Perry, CPA Managing Editor: Isaac M. O'Bannon Technology Editor: Brian Tankersley, CPA.CITP Associate Editor: Taija Jenkins Columnists: David McClure Doug Sleeter Jim Boomer, CPA.CITP Kristy Short, Ed.D. Randy Johnston Roman H. Kepczyk, CPA.CITP Art Director: Rhonda Cousin National Sales Manager: Barry Strobel Site Manager: Brittney Klaas Media Production Representative: Barb Evenson Audience Development Manager: Angela Kelty Editorial Advisory Board: Bob Cedergren, CPA.CITP, CISA, CISM, CISSP, CGEIT Chris Fraser, CPA.CITP, CISA, MCP Jason Lawhorn, CPA.CITP Gary A. Masino, CPA Ryan McCowan, CPA.CITP Linda O'Neal Troy Patton, CPA David Primes, CPA.CITP Donny Shimamoto, CPA.CITP Doug Sleeter Sandra L. Wiley CYGNUS BUSINESS MEDIA CEO: John French CFO: Paul Bonaiuto VP, Human Resources: Ed Wood VP, Audience Development: Julie Nachtigal VP, Technology: Eric Kammerzelt CYGNUS PUBLISHING Executive Vice President: Gloria Cosby Vice President of Production Operations: Curt Pordes VOLUME 24, NUMBER 1 Developing a "connected" brand for your frm is more than a passing fad. It is a strategy that addresses the c h a n g e s t h a t o u r e c o n o m y h a s u ndergone over t he pa st severa l years—and, in a few short years it will separate the frms that grow and suc- ceed from those that don't. Consider the following statistics about how the explosive growth of online and mobile platforms is infuencing how people access and use information: • Nielsen market research shows that 95 percent of mobile users use their devices for local search. • According to marketing guru Jay Baer, B2B decision makers only contact a company's sales representative afer 60 percent of their purchase decision has been made using online sources such as the company's website (and those of its competitors). T he ta ke away here is t hat t he quality of your web presence is likely to be the frst impression that a pro- spective client has of your frm, which, in turn, is likely to be formed as they look at your site on their smart phone or tablet. It's an environment where your existing clients are looking to fnd the same level of convenience and utility from your frm as they get from the "big" brands like Starbucks and Fidelity—i.e. they would prefer to receive your services 24/7 online on your website or even beter, through a mobile app. So how does an accounting firm create a connected brand strategy? From my perspective, there are three bu i ld i n g bloc k s to c on s ide r : a n efective website, a mobile-optimized website, and a mobile application. A lthough they must be par t of an integrated brand unit, let's look at them discretely to avoid confusion about how they can beneft your frm: An Efective Website —Tere is a diference between having a website and having an effective website. A n efective website is truly an extension of your frm's overall brand and a place to do business. Your firm's website should create a valuable experience for your clients with dynamic, useful content and convenient access to the services your frm ofers, rather than being just an online brochure. It needs to ofer the functionality your clients need such as bei ng able to log i n directly to QuickBooks, QuickBooks Online, Bil l.com, and their client portal, for example. A Mobile-Optimized Website — Once you have an efective website, the next step is to make sure that it provides a quality experience not only to those accessing it using a desktop or laptop computer, but to the mil- lions of smart phone and tablet users as well. A mobile website is similar to a traditional website, the key difer- ence is that it is designed to display and function on smaller, touch-screen mobile devices. In addition to stan- dard web content, a mobile-optimized site can ofer features such as click-to- call (to dial a phone number) and location-based mapping. A Mobile Application —It seems like there is an app for everything. Te question is— should there be one for your frm? For reprints and licensing please contact Nick Iademarco at Wright's Media 877-652-5295 ext. 102 or niademarco@wrightsmedia.com. A decade ago, having a strong brand was all about unity. As long as your frm's visual identity and communications were cohesive, your brand was con- sidered effective. Fast for ward to today's digital economy and a unifed brand presence is simply not enough—brands need to be connected. A firm with a connected brand not only serves cli- ents—but also engages and builds loyal relationships with them, diferentiating itself in the process. Read the rest of Darren's column online at www.CPAPracticeAdvisor. com/11258638 MY PERSPECTIVE By M. Darren Root, CPA.CITP, Executive Editor Darren is the Executive Editor of CPA Practice Advisor. He remains in public practice as the principal of Root & Associates, LLC, in Bloom- ington, Indiana, and is president of his consulting practice, RootWorks. He formerly served on the Board of the AICPA's CITP Credentials Com- mitee and is a former member of the Board of Directors for the Indiana CPA Society. He speaks at dozens of professional organizations each year and fequently serves as a guest lecturer at Indiana University's Kelley School of Business. 4 January/February 2014 • www.CPAPracticeAdvisor.com cpa_4_Root.indd 4 2/5/14 11:40 AM