Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/39633
GREAT PRACTICES SIMONS BITZER & ASSOCIATES Marketing Takes Center Stage No longer the ugly stepsister to sales, one progressive fi rm spotlights the value of a well-conditioned marketing program F 8 reality, marketing drives sales. Well- planned and consistent promotion of services not only keeps a sales funnel full, it helps fi rms build a strong brand and stay in front of prospects and clients. The firm of Simons Bitzer & or too long, marketing has lurked in the shadows, ignored and rejected. T e traditional thought is that mar- keting is a non-billable activity, and therefore a non-necessity. In Associates gets this … completely. And, man, can that ugly stepsister perform. Encore! A Refreshing Change in Mindset When Raegan Potter, Business Development and Marketing Specialist at Simons Bitzer & Associates inter- viewed for her position, she recalled being delightfully surprised at the principals' view on marketing. "I was braced to hear what I've heard numerous times: Marketing is a nice-to-have, not a need-to-have," Pot er stated. "Their positive outlook on marketing was refreshing." Principals Greg Simons, CPA and Barb Bitzer, CPA are dedicated pro- ponents of marketing and branding. T ey not only understand the eff ects of a strong program, but also the value of communicating consistently and frequently. Staying in front of an audience year round is the key to bringing in new business and main- taining existing clientele. "When I hired in, the economy was exceptionally bad," Pot er recalled. "Yet Greg and Barb were dedicated to implementing a comprehensive marketing program. They really understood the importance of ongoing business promotion and were willing to spend the dollars … even during an economically slow period." The Test & Measure of a Good Marketing Program Pot er admits that the fi rst year was a tough one. She not only had to get up to speed on the tax and accounting profession in general, but also dedicated a great deal of time evaluating the firm's current clientele and testing marketing eff orts. "One of the most eff ective ways to market is to understand who your ideal clients are," Pot er explained. "My fi rst directive was to evaluate the fi rm's existing pool of clients in order to identify the type(s) of prospects we wanted to go after. I primarily looked at revenue and industry to pinpoint ideal target markets." Once Potter knew the "who" (audience), she was in a bet er position to develop the fi rm's message. From there, she concentrated on testing and measuring campaigns for eff ectiveness. "You can't just sit down and write a marketing plan for the entire year," Pot er stated. "You have to implement a program a lit le at a time, pausing to measure and test elements." Not every marketing initiative is STATS AT A GLANCE Year founded: 1995 Total employees: 13 F/T Home base: Indianapolis, Ind. Firm description: Full-service public accounting fi rm, specializing in CFO and controllership services Accounting applications of choice: QuickBooks, Thomson Reuters UltraTax CS Firm website: www.simonsbitzer.com September 2011 September 2011 • www.CPAPracticeAdvisor.com CPAPracticeAd isor com going to be a huge hit. T at's why it's critical to test campaigns and measure success along the way. Thorough Principals Barb Bitzer, CPA and Greg Simons, CPA analysis is the best way to identify what is working and what needs to be 86'd. "A lot of firms would view the analysis part of marketing as non- billable, and therefore not needed. T e principals are huge proponents of measuring campaigns. In fact, they insist on it," Pot er said. During the fi rst year, Pot er closely monitored activity in all areas, including email campaigns, the fi rm's newslet er, networking events, and direct mail. Along with the principals, she reviewed key performance indicators such as: • Click-thru rates — what items did recipients click to view? • Open rates — was the commu- nication opened at all? • Forwards — what initiatives did recipients forward on? • Social forwards — what items did recipients forward via social media channels (i.e., Twit er, Facebook, LinkedIn)? From this data, Pot er was able to WELL-PLANNED AND CONSISTENT PROMOTION OF SERVICES NOT ONLY KEEPS A SALES FUNNEL FULL, IT HELPS FIRMS BUILD A STRONG BRAND AND STAY IN FRONT OF PROSPECTS AND CLIENTS.