The Scholar of Business

For the past several years, it’s been my privilege to observe and coach thousands of the brightest business consultants in the world. Over time, I’ve identified at least ten different behavioral cues advisors give that make it possible to sort the rookies from the pros.

All the advisors I’ve worked with have been smart, qualified, knowledgeable, experienced, and young for people with so much to offer. The overarching difference between the rookies and the pros, though, has been confidence. In short, rookies work hard to project confidence they don’t feel, and pros are lazier: they feel confidence, but don’t feel the need to show it. Whether the conversation with the client is face-to-face, over the phone, or in writing/cyberspace, for the rookie, it’s always about himself and his performance anxiety… am I really qualified to render advice to this older, more experienced executive? For the pro, who has survived the brutal gauntlet required to reach senior consultant or partner status (and the ripe old age of about 35), it’s never about her own performance, but about the client and his needs.

Accountants are always wrestling with lead generation. Whether it is for audit, write-up or review clients, most accountants or CPAs use old fashion, traditional approaches. This primarily involves asking for client referrals or other relatively passive techniques.

To be honest, client referrals are an excellent source of new business. They are effective and the best part is they are free. But the most significant issue with client referrals is that the average accountant just can’t get them in enough quantity to justify growth objectives. Certainly, if you are looking to just maintain your current revenues or attain modest growth then this may be fine. But if the goal is to drive sustainable growth then you must have another marketing plan to compliment your referral program.

Another problem with referrals is that bad clients (low billings, difficult to deal with, etc) tend to provide low quality referrals. This shouldn’t be surprising as if you think about it carefully.

Then the question becomes…what type of marketing for accountants should be implement? Well that depends on several factors. Quality marketing for accountants should have an internet based component that directs clients straight to their website. The approach should be a keyword based model that enables prospective clients to easily find you and understand the services that you provide.

If the end goal is active client generation, then the accountant needs to think beyond a referral program. Client referrals are an excellent source, but should be used to compliment other lead generation programs. Marketing for accountants takes dedication and hard work.