10 Steps to Building a
Marketing Machine for
Growing Your Accounting Firm
Your Marketing Machine | Part 1: Steps 1 to 3
10 Steps to Building a
Marketing Machine for
Growing Your Accounting Firm
Michael ‘MC’ Carter - Director of Practice Parad...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 What we’ll cover today
 • ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 What we’ll cover today (co...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                           ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                           ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 5 Common Myths About Marke...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Why do we call it a Market...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




        Your Only 3 Options...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




        Your Only 3 Options...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




        Your Only 3 Options...
Your Marketing Machine
1. Your Radar
1. Your Radar
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Ways to choose your focus ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Why focus ‘an inch wide, m...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Why focus ‘an inch wide, m...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




            Fears?
Your Marketing Machine


 2. Your Hopper
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 ‘Subscriber acquisition’ f...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Why a ‘Subscriber acquisit...
Identity Protected




                           Gradient is
                           way too high!

      Identity Pro...
Gradient is
perfect!
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




      They want to ‘hang ou...
Your Marketing Machine




3. Your Fuel
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 What is ‘engagement market...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 What is ‘engagement market...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Content is your Marketing ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Your content must be ...
 ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                Your conten...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




 Sources of Content
       ...
Your Marketing Machine
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                           ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                           ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                           ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                           ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




                           ...
Your Marketing Machine
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




      Practitioner
        ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




      Questions
           ...
Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions |




    Next Month’s Webinar - ...
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Marketing Growth Strategies for Accounting Firms - Marketing Machine Webinar - Part 1 of 3

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Slides from 9 June 2010 webinar, "10 Steps to Building a Marketing Machine for Growing Your Accounting Firm" by Practice Paradox.

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  • It’s a pleasure for me to introduce Michael Carter, or ‘MC’ as he’s commonly known in the accounting industry. MC has been consulting to businesses for over 21 years. He has a track record of tripling businesses’ revenue by applying marketing and leverage. For over a decade now, MC has been working exclusively with accounting firms. He now specialises in helping accounting firms build a Marketing Machine to increase their Clientshare.

    So let’s get started ... [INSERT TITLE AND SUBTITLE] ... please let me introduce to you, MC.
  • Thank you John. Hello and thank you for joining us. Let’s look at what we’ll cover in this session ...











  • Speak of clients …
  • Marketing. We all know what that is right? Go on. Here’s an interactive part of the webinar. Type in words or phrases that you think describe what marketing is all about. You’ll see the Questions area that John pointed out earlier. Enter your thoughts in there then click Send. Let’s see what’s coming through … Yes, ‘getting your name out there’, ‘advertising’, ‘finding new clients’, ‘selling’, ‘differentiating yourself from your competition’, ‘raising awareness’, ‘difficult for small firms’, ‘requires marketing genius!’ … ok … some great responses there … thanks for that ...










  • Did you know you only have 3 strategic options for your accounting firm? It applies to any business. Michael Porter, the well known author our of Harvard in the U.S. who has created some of the best management tools in the world, such as Porter’s 5 Forces of Industry Attractiveness, wrote a paper that outlined that in essence, in terms of competitive strategy, a business only has 3 choices. [more to write here]






  • Your radar - this represents your DECISION, your ACCEPTANCE, that a niche marketing focus is right for your firm. At this point you might not have decided ON your niche, but you accept that it’s the most effective way to move forward with marketing and growing your firm. Next ...
  • … you decide on your niche. Does it have to be ONE niche? Preferably. Certainly one per Business Unit or Division. In larger firms, you might have different Partners or Directors and each of them has a very specific niche. In a smaller firm, we’re talking about your firm’s niche. [more to write here]









































































































  • Today we’ve covered an introduction to the First 3 components of Your Marketing Machine. This is the first in a 3-part webinar series ...
  • … where we’ll be covering all 10 components. When you have all 10 in place, it’s a powerful effect. You will be amongst the best marketed accounting firms in Australia, if not the world, and you will come to dominate your niche.



  • Marketing Growth Strategies for Accounting Firms - Marketing Machine Webinar - Part 1 of 3

    1. 1. 10 Steps to Building a Marketing Machine for Growing Your Accounting Firm Your Marketing Machine | Part 1: Steps 1 to 3
    2. 2. 10 Steps to Building a Marketing Machine for Growing Your Accounting Firm Michael ‘MC’ Carter - Director of Practice Paradox
    3. 3. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | What we’ll cover today • First 3 components of your firm’s ‘Marketing Machine’ • The only 3 strategic options for your business • Why your firm desperately needs a marketing ‘Radar’ • Why businesses that 'go an inch wide and a mile deep' with their marketing focus tend to flourish • Common fears about niche marketing
    4. 4. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | What we’ll cover today (continued) • Your firm’s ‘Hopper’: 'Subscriber acquisition' marketing • Subscriber acquisition versus Client acquisition • 'Engagement marketing', why does your firm need to do it • What does 'content is king' mean and what to do about it • Announcing Clientshare™ Academy training program • Practitioner interview - Steph Hinds of Growthwise
    5. 5. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Poll What percentage of your firm’s referrals come from your existing clients?
    6. 6. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Marketing
    7. 7. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | 5 Common Myths About Marketing • MYTH #1: Marketing requires creativity • MYTH #2: Marketing is about getting your name out there • MYTH #3: Marketing is focused on acquiring new clients • MYTH #4: More market share and broad appeal is the aim • MYTH #5: Marketing requires a big budget
    8. 8. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Why do we call it a Marketing Machine? 1. It works! No mystery. Predictable performance. 2. Structure and design to it. Understandable. 3. Works without you. Flick the switch. Duplicatable. 4. It’s scalable and adjustable. Turn it up, turn it down to suit. 5. You can learn how to run it. There is a manual!
    9. 9. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Your Only 3 Options - Porter’s Generic Strategies 1. Cost Leadership 2. Differentiation 3. Focus
    10. 10. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Your Only 3 Options - Porter’s Generic Strategies Advantage Low Cost Uniqueness Broad Cost Leadership Differentiation (Industry Wide) Strategy Strategy Target Scope Narrow Focus Strategy Focus Strategy (Market Segment) (Low Cost) (Differentiation)
    11. 11. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Your Only 3 Options - Porter’s Generic Strategies Advantage Low Cost Uniqueness Broad (Industry Wide) Target Scope Narrow Focus Strategy Best option for (Market Segment) (Differentiation) accounting firms
    12. 12. Your Marketing Machine
    13. 13. 1. Your Radar
    14. 14. 1. Your Radar
    15. 15. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Ways to choose your focus strategy • Industry focus • Occupation focus • Demographic focus • Age or stage of life • Lifestyle • Income • Investment preferences • Geographic focus
    16. 16. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Why focus ‘an inch wide, mile deep’? • Marketing Reasons • More ‘stickiness’ in your message • ‘They’re the guys who …’ • = Referral Catalyst #1 • Easier to reach ‘the tribe’ • ‘Birds of a feather, flock together’ • = Referral Catalyst #2
    17. 17. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Why focus ‘an inch wide, mile deep’? • Operational Reasons • You get really really good at serving their needs • The power of specialisation • You get to intimately understand their situation and needs • You can go a ‘mile deep’ in the services you provide • Wide range, and extensive depth to the services • Become a Thought Leader and Authority in this market • Comes full circle, reinforcing your marketing
    18. 18. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Fears?
    19. 19. Your Marketing Machine 2. Your Hopper
    20. 20. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | ‘Subscriber acquisition’ focus • The first step is not to focus on acquiring new clients • Not even focusing on generating referrals, as a first step • What are subscribers? • People who ‘subscribe’ to your ‘content’, to your message: • Email newsletter subscribers • Blog (RSS) subscribers • LinkedIn connections • Twitter followers • Facebook friends … and other social media too
    21. 21. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Why a ‘Subscriber acquisition’ focus? • People think about leaving their accountant for years • It’s like breaking up. They start looking long before they leave! • It is very ‘high gradient’ for them to meet with a new accountant • They want to get to know you first • As well as what you stand for • And what you’re particularly good at • New clients sourced this way arrive ‘warm’ to you already • They are pre-sold, ready to go = high Clientshare™
    22. 22. Identity Protected Gradient is way too high! Identity Protected
    23. 23. Gradient is perfect!
    24. 24. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | They want to ‘hang out with you’ before they ‘get into bed’ with you!
    25. 25. Your Marketing Machine 3. Your Fuel
    26. 26. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | What is ‘engagement marketing’? • Putting valuable, educational content out there • Being authentic … the real you! • Interactive • Comments on LinkedIn and Facebook posts • Replies and ‘Retweets’ on Twitter • Comments under your blog posts • Inviting feedback/comments on newsletter articles • Polls, surveys
    27. 27. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | What is ‘engagement marketing’? • Interactive (continued …) • Client interviews and case studies • Benchmarking surveys (in your niche! … = authority status) • Benchmarking findings - articles, reports • Client events • Lunch ‘n’ Learn presentations, workshops • Client education programs • Encouraging networking between your clients
    28. 28. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Content is your Marketing Machine’s Fuel • Your message, your teachings … how you help people • Having a niche makes this much easier • Your views, your opinions • Printed: Articles, white papers, reports, eBooks • Video: ‘Talk to camera’, client and team member interviews • Audio: Monologue, client interviews
    29. 29. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Your content must be ... • Jargon-free • Engagingly written - ‘write as you speak’ • Benefit oriented • “What’s in it for me?” for the reader • Matters more than ‘the facts’ • Features > Advantages > Benefits • Focus on outcomes - How will this article help people • Action oriented - Have a call-to-action re next step
    30. 30. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Your content must also be frequent and timely
    31. 31. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Sources of Content • News and blogs • Use Google Reader > RSS > Feedly • Twitter and LinkedIn • Client wins • File Note Protocol for recording positive client feedback • Interview clients: Video, audio plus printed version • Team members • Add to standard meeting agenda • Books
    32. 32. Your Marketing Machine
    33. 33. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | The Plug
    34. 34. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Announcing the launch of The Clientshare™ Academy
    35. 35. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | • 10-month course teaching you how to build your own Marketing Machine • Delivered 80% over the web, plus two 3-day workshops • Monthly classes • Monthly ‘Nuts & Bolts’ sessions • User forum • Very interactive and hands-on
    36. 36. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | • Structured for CPE/CPD hours • Certificates of Completion for Classes, Nuts & Bolts Sessions, Workshops • Focus is on training and education • Empowers you and your team • Launches in July 2010 • Special webinar 23 June 2010 • Foundation Member offer
    37. 37. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | 12pm Wed 23 June 2010 Webinar
    38. 38. Your Marketing Machine
    39. 39. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Practitioner Steph Hinds Director Growthwise Interview
    40. 40. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Questions Steph Hinds Michael ‘MC’ Carter Director Director Growthwise Practice Paradox
    41. 41. Introduction | Your Radar | Your Hopper | Your Fuel | Practitioner Interview | Questions | Next Month’s Webinar - Part 2: Steps 4 to 6 10 Steps to Building a Marketing Machine for Growing Your Accounting Firm Your Marketing Machine | Part 2: Steps 4 to 6 grow@practiceparadox.com.au www.practiceparadox.com.au

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