Finding the Ideal Client for Your Accounting FirmApril 2, 2018
Do you know what your ideal client looks like? In a recent post we discussed methods for gaining new accounting clients. Today, we want to devote some additional time to the first tip suggested in our previous article: defining your perfect client. After that, we’ll offer some advice for finding and targeting ideal prospects.
Defining Your Ideal Client
Before you can start to pursue your perfect clients, you need to have a solid idea of what they look like! The Pareto Principle suggests that 20 percent of your top clients generate up to 80 percent of your business. This is a good place to start! Here’s an article from Entrepreneur that provides some more details. Take a look at the top 20% of your clients and make a list of what they have in common. The items on this list are likely features you should seek in ideal clients.
Beyond that, you can flesh out your list of ideal client traits by considering a number of areas. Here are some examples of the type of questions to ask yourself:
- On what industry or industries does your firm focus?
- What is the annual sales of your ideal client?
- What size of staff do you consider best in a client?
- At what hourly rate level are you looking to charge for your services, and which type of clients can afford to pay that?
So, you’ve come up with a list of traits of your current top clients and fleshed it out with further thought on what your ideal client looks like. Now you’re ready for the last step. Develop a checklist of traits that define your ideal client. As you consider new prospects, use your list to help you decide whether or not to take them on as clients. Additionally, let the list act as a guide as you develop targeted marketing efforts.
Finding and Targeting Your Ideal Client
Now that you know what your ideal client looks like, the next step is to find them and market to them effectively. Be sure to consider the following:
- What is on your website – Make sure to include a clear statement of the type of client that your firm caters to on your website.
- Where you advertise – If your ideal client is likely to attend trade shows, advertise there! If they’re more likely to find you via the internet, consider advertising through Facebook or Google. Be focused and specific in your marketing—don’t waste time and money advertising in places where your ideal client will not even notice.
- Where you network – Similar to carefully considering where you advertise, as discussed above, find out where you can encounter your ideal client and put yourself in their path.
Pursuing your ideal client takes time, thought, and hard work, but it is worth it! As you cultivate a strong client base, your firm will certainly reap the rewards of your efforts.
ABLE is a great tool for managing all of your business relationships, from clients, to prospects, to referral sources. Designed by accountants and for accountants, ABLE gives accounting professionals access to a variety of CRM tools for business development.
ABLE’s foundation is strengthening relationships with your most important contacts. Schedule a demo to find out how easy it can be to achieve deeper client engagement.