For those that have upgraded to BYF’s Platinum Website service, the feedback has been very, very positive. The Payment Processing and Secure File Sharing tools have been a home run. Read the commentary yourself…
BYF’s Payment Processing tool has been so unique that a major accounting vendor will soon sell this as a standalone payment processing tool at nearly $40 per month. Yes, for this tool alone (no website or other benefits). As a result of this endorsement, we will rebrand ePay as BizPayO and are seeking to obtain a patent on this amazing tool. More on this later.
Here are the main reasons why you should consider upgrading to BYF’s Platinum Website service.
- BizPayo Payment Processing – This secure payment processing tool enables you to collect payment by ACH, Credit Cards, Debit Cards and Bank Wires when your fee is due. It captures both one time and recurring payments so you can dramatically reduce A/R. The chargeback tool for credit cards enables you to recapture the cost of credit card processing. This online payment processing tool is integrated into BYF’s Platinum Website so you get paid before releasing tax returns. The embed tool also works seamlessly with your billing software program.
- Secure File Transfer (256 bit encryption) – Up to 7 members of your firm can use this system as part of your Platinum service. This easy to use system eliminates those “I forgot my password” phone calls during tax season.
- Up to 24 credits of self study CPE / CE – Hundreds of courses to choose from. Good for CPA’s and EA’s.
- Local listings set up with Google and Yelp – BYF will claim your local listing and optimize it for higher visibility.
- Reputation Management tool – After claiming your local listings, BYF will add our reputation management tool to your website so you can obtain online reviews throughout the year and enhance your reputation locally.
Marketing your accounting practice online should be a priority if you want to get more than your fair share of new business. If you’d like to ramp up your marketing on the internet, here are several key things that you should expect from your accounting firm website in order to put your best foot forward and acquire many new clients.
- Create a website that “brands” your firm and creates a positive image in the minds of your clients and prospects. In simple terms, the website should create an image that is more favorable than if they walked into your office.
- The website must be easy to locate in Google, Bing and Yahoo. It must be search engine friendly and optimized for desktop computers, tablets and mobile devices using responsive design.
- Invest into pay per click and retargeting advertising. Pay per click advertising can drive immediate traffic to your website informing them about your accounting firm services. As they consider the decision over time, they start to see your retargeting advertising which makes your firm appear larger and seeks to pull them back to your website so they take action.
- Get reviews online to favorably influence your local reputation.
- Order a blog and have it integrated into your website. Be social. This will establish you as an subject matter expert and support your placement in Google, Bing and Yahoo.
- Use amazing photography to paint a picture in their minds and headshots of the key people in your practice. Don’t be headless.
- Your “About Our Firm” page should have some personality and illustrate your qualifications.
- Your firm phone number should be on every page of the website. Your goal is to obtain inbound phone calls from prospects. Make it easy for prospects to reach the right person in your firm.
If you’d like more productivity from your internet marketing, give us a call at 888-999-9800 x1.
Nearly every day, we all frequent a franchise business. Whether it’s a trip to the gas station, fast food restaurant, cup of coffee, frozen yogurt, automotive repair, lodging, fitness centers, and copy centers, we have all seen the growth of the franchise business model. Here are some facts that illustrate how big franchises have become:
- There are over 3,000 different franchisers operating in the US today.
- Franchises in the US provide nearly 18 million jobs.
- There are over 300 different industries for franchises.
- The franchise industry represents approximately 50% of all retail sales in US.
- Approximately 1 out of 12 businesses in the US is a franchise.
Given the sheer growth of franchises, it might be time to rethink your mindset towards franchised businesses. Here is a quick sampling of the opportunity you are missing out on.
Fast Food – McDs, Burger King, Wendy’s, KFC, Arby’s, Subway, Denny’s, Taco Bell, Bojangles, Moe’s
Novelty Food – Dunkin’ Donuts, Baskin Robbins, DQ, Edible Arrangements, Cold Stone, Cinnabon, Carvel, Ben & Jerry’s
Pizza – Domino’s, Papa John’s, Little Ceasars, Pizza Hut
Automotive Repair – Midas, Monroe Muffler, Jiffy Lube, AAMCO, Meineke, Maaco
Business Services – UPS Store, Minuteman Press, Fast Signs
Gas Stations/C Stores – 7-Eleven, ampm, Circle K
Lodging – Hampton, Days Inn, Motel 6, Hilton, Ramada, Holiday Inn, Knights Inn
Home Services – Servpro, ServiceMaster, The Maids, Merry Maids, Lawn Doctor, Weichert, RE/MAX
Retail – Ace Hardware, GNC, Radio Shack, True Value Hardware
Fitness – Planet Fitness, Golds Gym, Gymboree
To capitalize on franchise businesses, Chahal & Associates is aggressively target franchise businesses in fast food, retail, travel and auto repair with Build Your Firm’s assistance. Below are some of the franchise brands they’ve acquired already. Although it’s not sexy, ignoring franchises might be something that you regret in the future.
Would you like to acquire more non profit accounting clients?
By all means, non profit accounting is distinctly different from most other forms of accounting and many accounting firms don’t even offer this service. Given the boutique nature of non profit accounting services, online marketing can become an effective way to attract prospective non profit clients and explain how you are uniquely suited to exceed their expectations.
Below are examples of how several accounting firms are using the internet to attract non profit accounting prospects.
If you have a boutique accounting service, internet marketing should become part of your arsenal.
Within a larger CPA website, having one page dedicated to Litigation Support, Business Valuation and Forensic Accounting gets lost in the shuffle. And, it’s not very persuasive to prospective clients either.
Here are some examples of CPA Firms that have gone the extra mile and developed a website dedicated to litigation support, business valuation, and related forensic accounting services. As you will see, having a website dedicated to your area of concentration is far more persuasive for the prospect. And, having a niche website elevates your placement in the search engines because it’s easier for the search engines to understand what you do.
Over the years, payroll processing has become easier with the advances in software. While we traditionally don’t advocate payroll processing, many of our accounting clients actively want more payroll clients (within reason).
To help them acquire more payroll clients, many have asked BYF to develop a website dedicated to payroll services. If this rings a bell, check out our payroll niche websites to accelerate the payroll side of your accounting practice.
If you want to develop a concentration within your practice, whether
it’s payroll or some other areal, call us at 888-999-9800 x1.
Would you like to acquire more small business clients that are using QuickBooks to maintain their accounting transactions?
Given the growth of QuickBooks in the general marketplace, our most common niche website is for QuickBooks accounting. Most of our clients that want to become more aggressive acquiring QuickBooks users will do the following:
- Secure 3-5 QuickBook certifications. QuickBooks Advanced is the most important.
- Secure placement within Intuit’s Find-a-ProAdvisor website.
- Obtain online reviews to be placed into Intuit’s Find-a-ProAdvisor website using Build Your Firm’s reputation management tool.
- Order a QuickBooks niche website to generate more leads from the internet.
Here are some examples of accountants who have pursued
If you’d like to acquire more QB clients, call BYF at 888-999-9800 x1. If you need
a more comprehensive marketing system, attend our Accounting Marketing Program.
In today’s accounting world, accountants can benefit greatly from both wire transfers and ACH payment processing. Each form of payment offers unique benefits for specific situations worth considering. In order to decide which electronic payment method to recommend, it’s necessary to look at the roles of each.
Processing payments through an automated clearing house (ACH) means that you’re using an electronic network that works with several financial institutions in order to process transactions in groups or batches. The result is similar to a wire-transfer in that the money is shifted from one financial institution to another.
However, it’s not a real-time transaction the way a wire transfer is. The good news is that batch transactions usually show up within three to five business days. In some cases, they show up the next day.
This is far better than the traditional method of invoicing and waiting 30 to 60 days for the paper checks to arrive (and then waiting the additional time required for the check to clear after depositing it into your bank account). In this way, the ACH payment processing provides accounting firms with a secure way to capture payments faster than the old fashioned way.
There’s also the versatility factor with ACH payments. ACH payments work well for online bill payments, payroll direct deposits, person to person (P2P) payments, and more. Some individuals even receive social security benefits and federal income tax refunds through ACH.
While some banks or financial institutions may charge a small fee for ACH payment processing, the speed more than offsets the processing costs. While ACH payment processing may be inexpensive, it is not immediate.
The home run on ACH processing is for recurring payments that are predictable. If you have a set of clients who pay you a predictable monthly or quarterly fee, getting them onto ACH is a slam dunk.
Wire transfers still play an important role in today’s electronic banking world. Wire transfers are instantaneous transfers — within seconds in some cases — of money from one bank account to the next.
Accounting firms, in particular, benefit greatly from wire transfers as they are ideally suited to facilitate the instant transfer of funds from the business bank account, for instance, to a payroll processing center, if needed. Also, many international based clients prefer to use wire transfers to conduct business as well.
Further, wire transfers that occur between bank accounts are authenticated. This means the identity of the person on the receiving end is verified so that you’re certain the money is going to the person you intend to receive it. This reduces the chance of fraud in the transfer process and makes the transfer more secure.
On the downside, there is typically a fee involved in wire transfers. In some cases, the fees are substantial. This is often the deal breaker for those sitting on the fence between wire transfers and ACH payment processing (same day versus 3-5 days).
The Bottom Line
When it comes to transferring money from one account to another, there is no clear winner. Different business needs at different points in the business cycle make one or the other more appealing. The key is to make sure you’re matching the right needs at the right time to maximize ACH payment processing and wire transfers to their fullest benefit.
Most importantly, you want to put your accounting firm into the position to accept both ACH and bank wires conveniently with one integrated payment solution.
Note: Build Your Firm’s ePay payment processing tool accepts payments from ACH, bank wires and credit cards. Three electronic forms of payment to accelerate your cash flow.
ePay enables you to get paid over 30 days faster. Below are the highlights:
- Accepts electronic payments from ACH, credit cards and bank wires.
- Recover your credit card processing charges with our Upcharge Technology.
- Embed links from ePay into your billing program and email communication.
- Accepts recurring and one time payments.
Get more control now and eliminate the excuses.
Just wanted to congratulate a few accountants who have gotten on the reputation management band wagon and integrated the BYF Leave Us a Review tool into their practice. In the months ahead, these accountants will receive many more phone calls than their peers.
Below are the few that I’ve noticed. Yes, I’m sure a few of you will let me know who I am missing.
Number of Online Reviews
Google Intuit Find-a-ProAdvisor
Tom Palm 22 20
Luke Gheen 21 18
Bryan Sorenson 22 18
Also, hats off to Navjeet Chahal for obtaining 14 reviews in Yelp.
Job well done!
Now for the joke….