Today we want to address a key best practice for making the compliance to advisory shift: getting to know your client’s industry. Read on to learn why this important and how to do it.

Why Should You Know Your Client’s Industry?

As the accounting industry continues to undergo digital disruption, the shift from compliance to advisory becomes more and more prominent. In order to achieve career success, simply being technically excellent is no longer enough. Though technical knowledge is certainly important, this is an aspect of accounting that machines will continue to take over. The best way to differentiate yourself within the profession is to become a knowledgeable and valued advisor to your clients.

Consider who you turn to when you need wise advice. If your car breaks down, you consult a trusted mechanic. Parenting trouble? You seek out someone who you consider to be a good parent. It’s the same when a client requires advice about the issues they face. They are going to turn to someone who knows them and who, more importantly, knows their business and their industry. So how do you become this valued advisor in your clients’ eyes? You get to know your client’s industry and then communicate to them that you are a thought leader.

How Do You Get to Know Your Client’s Industry?

The first step is to spend time learning about your client’s industry. The internet holds a wealth of free information, so take advantage of it! Consult industry newsletters, blogs, and websites. If you prefer hard copies, subscribe to an industry magazine or journal. If you’re a regular reader, add these items to your repertoire. If you don’t naturally turn to reading when bored or not busy, block out some time each day or week to spend reading up on your client’s industry.

Simply getting to know your client’s industry is only half the battle. You also need to figure out how to communicate your knowledge to them. You need to position yourself as a thought leader in their eyes. Here are some good methods for doing so:

• Bring up recent industry happenings in conversation with your client
• Share a relevant article with them via email
• List any industry association memberships in your website bio or on your LinkedIn profile
• Attend industry events, especially ones where that your client attends

Using ABLE to Become a Thought Leader

Positioning yourself as a thought leader in the eyes of your clients is no small task. Luckily, ABLE offers tools to help you do just that.

1. Thought Leadership Tool – This resource allows you to seamlessly share relevant contact with your clients. All you have to do is find an article, write a brief note, and select the appropriate recipient(s). The great thing about this tool is that it sends a one-to-many email that appears one-to-one. This makes all the recipients feel as though they received particular attention from you.
2. Content Library – To make sharing thought leadership even easier, ABLE offers a library stocked with relevant articles on a variety of topics. Without even needing to leave the system, you can easily find pertinent information to share with your clients. We update the Content Library weekly with new material.

Make the Compliance to Advisory Transition with ABLE

Are you ready to take your practice to the next level? Schedule a free, no-obligations ABLE demo today to learn how we can help you become a thought leader—and so much more!