outsourced marketing for cpa firms
To improve upon our dental practice coaching capabilities and strengthen our niche offerings, the Dental Accounting Association will be headed to San Diego immediately after tax season. All members of the Dental Accounting Association will be in attendance sharing best practices and hearing first hand from dental industry experts on dental practice management, fraud prevention, dental practice benchmarking, profit improvement techniques and legal challenges for dental practice owners.
Immediately following the Dental CPA Summit on dental practice coaching, we will attend the American Association of Orthodontists Annual from April 22nd to April 25th meeting prospective orthodontists from North America. The trade show is expected to attract 15,000 orthodontists into the San Diego Convention Center. The Dental Accounting Association will have a booth that will be collaboratively staffed by members of the Dental Accounting Association (all independently owned CPAs).
The Dental Accounting Association is a collaborative group of CPA Firms that are focused on tax savings, practice benchmarking and profit improvement for dentists. Each member of the Dental Accounting Association provides fixed fees (no hourly billing) and works with the dental specialists such as:
Dental Practice Management Coaches
Dental Law Firms
Dental Transition Brokers
Dental Practice Real Estate
Dental Loan Providers
In fact, our keynote speaker for the Dental CPA Summit is Patrick Wood, founder of the largest dental law firm in the United States, Wood & Delgado. Patrick will be providing a Dental Legal Update so all Dental Accounting Association members understand the changing legal landscape for dental practice owners.
Outsourced Marketing for CPA Accountants
All members of the Dental Accounting Association are independent CPA Firms scattered throughout North America. Each member CPA Firm works with Build Your Firm (BYF) in the Outsourced Marketing Program. BYF has been providing Outsourced Marketing and Coaching for over twelve years and is the leader within the accounting industry for outsourced marketing and lead generation programs. This Dental CPA Summit is the second annual in-person meeting and is supplemented by regular educational webinars throughout the year.
To learn more about BYF’s Outsourced Marketing comprehensive system, visit our Outsourced Marketing video library. BYF’s Outsourced Marketing Program extends well beyond the dental and medical industry.
While buying another accountants practice sounds like a less risky approach to getting into practice, it really is not. The price tag is very high and the attrition rate is higher than most buyers realize.
Learn the positives and negatives associated with building an accounting practice versus buying someone else’s accounting practice.
Building is the better near term and long term solution for accountants.
Are you struggling with the ongoing challenges of managing the back office while at the same time, trying to make more time for growing the firm? And if you allocated the time to market your accounting firm more aggressively, would you be successful?
– Google is constantly changing the rules and coming up with new things. For example, they make 500-600 changes per year to their SEO algorithm, constantly change Google Adwords, demand fresh online content, and have things like Panda, Penguin, Hummingbird, and Matt Cutts. And they don’t answer the phone… What gives?
– New emerging marketing tactics are always coming on the scene. One day, it’s remarketing advertising, then it’s reputation management, mobile advertising, blogging and social media marketing. What’s next?
– Google Authorship is great for a while and then it goes away. Why?
– Yelp reviews are great inside Google reviews for a couple years and then it gets blown up after Google tries to buy Yelp. Now, Yelp is cozy with Yahoo and Bing. Really?
– Local Search is different than Organic Search…but Local Search can be found within Organic Search too…
– The promises from sales reps at Yelp and OrangeSoda sound too good to be true. Are they?
If you want topline growth along with bottom line improvement for your accounting practice, then consider Build Your Firm’s Outsourced Marketing Program. Many of the firms in this program have been doing it for 5-8 years and stick with it. Accountants don’t stick with programs if they don’t work…
And yes, we do have a team of marketing pro’s to sift through the winner’s and loser’s so you don’t have to….
Despite soft economic times, there are many, many accounting firms who are having success marketing their practice and growing each and every month. Below is an example of a client we worked with and how he managed to grow his practice throughout this terrible economic period. I will not disclose his name and location, because many accountants will want to pick up the phone and call him. It also enables me to be more open about his situation.
In May 2008, we were contacted by a CPA who had been operating for one year. This practitioner was located in a city with a population just over 100,000 people and the nearest major city was 35 miles away. His practice was approximately $100,000 in fees and declining. In the prior year, this practitioner had purchased a practice generating $125,000 from a retiring CPA and the attrition rate was 20%. To compound the issue, the entire practice was debt financed ($150k) so this practitioner was very nervous and did not know how to market and sell accounting services.
The base practice purchased was primarily traditional write-up, payroll and 1040s. The average fees per business client were very low (assume $1,000 per year) and individual tax clients were charged $250 per. Most of the clients required lots of interaction and 1040s were processed in-person (by appointment, in front of them). The tax software being used was Lacerte.
To dig himself out of this hole, the sole practitioner desperately needed to double the size of his practice from $100,000 to $200,000 within twelve months so his annual revenues exceeded his practice debt. The practitioner’s preference was to work with construction companies, but the market for home construction was collapsing.
To right the ship, this practitioner attended our Accounting Marketing Program and wanted to outsource the marketing to BYF even though he was lacking funds. Over the next four years, this practitioner managed to grow from $100,000 to $450,000 by following the program and dramatically reduced his debt service. There were moments when cash was tight but he has successfully grown the topline, overhauled the workflow process so his practice operates more efficiently, and now has two attractive niches which improve the quality of clients he acquires. Fortunately, we avoided the construction market because of economic uncertainty and the niches are very solid despite the economy. By the middle of 2015, his practice will be at $750,000 – $850,000.
This is an example of what a motivated accountant can do, even in these economic times.