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How to grow your accounting practice

21st Sep 2020
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Growing your accounting practice needs a strategic solution. But, there are lots of opportunities to consider when making your plan.

Recruit talent

Creating a thriving accounting practice starts from within. Make sure you’re recruiting talented accountants and sales professionals who offer a high standard of service. Look for experienced accountants with a strong client base who could follow them to a new practice. 

Know who you’re looking for

Identify the kind of client that will be a profitable asset to your company. Your current client base can give you the information you need to discover who your ‘ideal client’ is. With this in mind, you can focus your activity on bringing in clients that fit your profile.

If you have a sales team, make sure they’re working closely with your accountants to ensure they are working on finding the right type of client. By sharing knowledge between teams, there might be mutual companies of interest that you can target and bring on as clients.

Focus on your current clients

When your clients are happy with your services it’s likely they will recommend you to their contacts. Increasing your client base by word of mouth is a great free tactic to grow. 

Another option is to sell additional services to your current clients to increase revenue. Advisory services like financial planning and tailored advice can be really valuable to help guide business owners in the right direction. Loyal clients will trust your firm to handle all financial aspects of their business. 

Advertising and marketing

Spreading the word about your business with an advertising and marketing strategy can also help attract new clients. You can either work with an agency to do this for you, or do marketing in house. Focus on the channels that are most likely to attract your ideal client, including content in publications, a social media presence, local advertising and Google Ads.

One free option is to boost your website using SEO. Using SEO techniques on your website can help you appear higher in search results, so potential clients will be more likely to find your practice.

Attend events

Events like business shows are ideal for meeting potential clients and promoting your services. Although many events are being postponed to 2021, several are also moving online. Take a look at what is available and which could be the best fit for your practice. 

About Bokio accounting software

Bokio’s free accounting software offers bookkeeping, invoicing and expenses management. It’s a great solution for collaborating with smaller clients, like small businesses, sole traders and freelancers. Bokio helps you save time and money by using automation, so you can focus on offering high value advisory services.