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BUILDING AUTHORITY

YOUR 4-POINT CHECKLIST FOR

IN THE ACCOUNTINGAND FINANCE INDUSTRY

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Being an industry leader has massive profit potential for any accountancy practice – but not every firm has the tools it needs to be one.

This checklist covers 4 essential authority-building activities every serious accounting firm should implement into their content production plan to drive thought leadership amongst their clients and peers. Once put into practice, these considerations will boost the effectiveness of the collateral you produce, helping you reach even more prospective clients and giving your firm the competitive edge:

Give Opinion, Not Commentary

Stay On The Right Side of Google

Use Social Media to Your Advantage

Track Enquiries From Click to Clients

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WELCOME

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LET’S CUTTO THECHASE

It’s simply not enough anymore to rely on word of mouth to secure your accounting firm’s future growth. While positive referrals and solid client relationships will always supplement a good growth strategy, more must be done if you’re aiming to deliver a consistent flow of new business enquiries into your sales funnel. As the climate becomes more competitive locally and globally, it’s time to differentiate. With client behaviour changing, progressive firms are breaking tradition and seeking alternative methods to attract new clients.

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Industry leaders are now demonstrating and sharing their knowledge through a variety of thought leadership exercises. It’s not about giving away your intellectual property. It’s about drawing on the expertise of senior accountants to create influential content – like research pieces and blog posts – that act as a magnet and build authority, generate enquiries and boost brand awareness.

According to a 2014/15 study carried out by Infinite Spada, the most effective way to increase a firm’s visibility is through content distribution, with articles receiving 131 shares across social media on average. While this is good news for those embracing the rapidly changing landscape, the practices slow to upgrade their marketing efforts are getting further and further behind.

As the trend continues to emerge, your firm needs a voice to cement its position as an authority with those seeking industry leadership and guidance. Without it, you risk your entire online presence.

Original, authoritative content keeps your website in Google’s good books, and makes it easier for prospective clients to find you. And with the vast majority already researching accountants online before making a financial commitment, it’s more important than ever to show up in the right place with the right communication.

INTRODUCTION

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“ “IN A 2014/2015 STUDY OF ACCOUNTING FIRMS, ORIGINAL CONTENT RESEARCH MAKES UP 40% OF TOP PERFORMING POSTS.

(Source: Infinite Spada)

1GIVE OPINIONNOT COMMENTARYAccountancy practices are well-accustomed with using the printed word both online and offline to showcase their expertise, but they’re only utilising a fraction of the platform’s pulling potential.

Nowadays, decision makers want to engage with content that isn’t so inwardly focused. That means spending less time talking about subject matter that interests the accountant, and more time discussing what’s important to the client.

Putting the right information in front of decision makers and taking part in key conversations is crucial.

If firms want to distinguish themselves from the competition and build authority in a crowded space, they need to deliver deeper insights into the industry and produce content offerings that add real value.

To gain interest from enquiries and a share of the market, practices should be focusing on providing opinion rather than commentary.

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Financial advisors producing the best authority building and thought leadership collateral start conversations and providenew perspectives on current, breaking or uncommon issues.

For example, using a blog post to give opinion on changes to the budget, or writing a thought-piece that dissects tax hikes andcontextualises the ramifications they might have for clients.

Another option is to share analysis on market insights. Having an opinion on the business issues that affect prospective clients is an effective driver of thought leadership and demonstrates awareness outside of their fields.

The aim is to create valuable mindshare that enlightens a firm’s client and peer network, and provokes thought about issues that may have otherwise remained out of the spotlight. While this could present problems for overly cautious financial advisors, it’san opportunity for progressive accountants to share their insights, have an opinion and be heard.

Taking a particular stance on issues demonstrates expertise within a field, which works to differentiate a firm, adds gravitas and makes a service offering 10X more attractive.

2STAY ON THE RIGHT SIDE OF GOOGLEOriginal content development and distribution should be an integral part of a firm’s big-picture growth strategy. To attract a steady stream of new business enquiries and to strengthen the trust-based relationships with existing clients, accountants need to ensure the content and mindshare they publish is easy to find and ranks highly with Google.

When decision makers search for thought leadership and other highly specialised content nowadays, the accountant demonstrating expertise first ultimately wins the client.

To boost search engine rankings and the visibility of content, accounting firms should adhere to search engine optimisation (SEO) best practices. While not all will see the value of investing in a digital marketing strategy, the easiest way to sabotage visibility online and lose enquiries is to duplicate and rehash site content in the pursuit of saving time or money.

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“ “77% OF PROFESSIONAL FIRMS GENERATE NEW BUSINESS LEADS ONLINE – AT LEAST 40% OFTHOSE GROW 4X FASTER THAN THOSE WHO DON’T.

(Source: Hinge)

Put simply, SEO is the practice of creating and optimising web pages that show up organically in search results.

And when executed well, it will guide a prospective client to the content or thought leadership piece they want or need, whichexposes an accountancy practice ahead of the competition and generates genuine interest.

It’s no secret that Google rewards websites for original content and originality.

Thought leadership that covers under-researched topics and provokes engagement or even debate works to improve search engine rankings, earns greater recognition and sees more website traffic – which is especially effective for firms opting to dedicate the budget, time and resources to regularly sharing high-quality content.

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3USE SOCIAL MEDIA TO YOUR ADVANTAGEWhile the number of accounting firms embracing social media is steadily increasing, a large portion are still lagging behind the curve.

It’s one of the cheapest, most effective two-way instant communication tools on the market, yet according to the Wolters Kluwer survey into social media, over 20% of accountants are still missing out on the platform’s revenue and authority-buildingpotential.

Channels like LinkedIn and Twitter can be used to monitor key conversations taking place between target clients and industries.

By tracking and monitoring the topics prospective clients are sharing and engaging with via their platform of choice, accountants can respond accordingly with a relevant thought piece.

Professionals in the finance sector with their ear to the ground gain better insights into the challenges prospective clients face – and understanding what makes business owners tick is one of the mosteffective ways to build trust.

Social media provides the means for financial advisors to speak independently or on behalf of their firms, and enables them to share expertise with client and peer networks directly, or offer opinion on matters in real time.

It’s an opportunity for accountants and firms alike to listen to and engage with their audiences to boost influence and strengthen strategic relationships with decision makers and prospective clients.

While it’s true that the majority of prospective clients aren’t ready to invest in financial services immediately, an active online presence is an effective way to nurture relationships and develop rapport over time – and 71% are more likely to purchase based on social media referrals (source: HubSpot).

Accountancy practices using the platform to share valuable, original content to engage clients and new business enquiries willpropel authority building efforts, and further cement their position in the industry as a true thought leader.

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ACCORDING TO THE WOLTERS KLUWER SOCIAL MEDIA SURVEY, 77% OF ACCOUNTANTS USESOCIAL MEDIA

“ “(Source: Wolters Kluwer)

4TRACK ENQUIRIESFROM CLIENT TO CLIENTProfessionals in the accounting and finance sector are dropping the ball when it comes to capturing data – and it’s costing growingfirms clients. Tracking user journeys, identifying popular content and recording conversion rates (like gated content downloads and webinar registrations) is no longer the time-suck it used to be.

In this day and age, technological advances and off-the-peg software does the legwork, making it easier than ever to measure, monitor and analyse how well a firm’s thought leadership activity is performing.

Yet there’s a general feeling in the industry that capturing client data via a “gated content offering” (such as a thought leadership piece or research paper that’s offered as a download in exchange for an email address) turns off more enquiries than it generates because of the time it takes to produce and the volume of contentfreely available elsewhere.

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“ “PUBLIC ACCOUNTING AND CONSULTING FIRM CROWE HORWATH ACHIEVED AN ROI OF 133% IN JUST 7 MONTHS BY GENERATING LEADS USING A SERIES OF GATED CONTENT.

(Source: MarketingSherpa)

But the reality is this: gated content is one of the most effective ways to tell the “maybes” apart from serious enquiries who are ready to be nurtured.

And as the results gleaned by Crowe Horwath suggest – when the thought-piece or content offering is high-quality, prospective clients are willing to register their details or even pay a small fee in exchange to download.

So how does capturing data in this way turn a cold enquiry into a client? As soon as an email address is recorded, the sales development process can begin.

That means nurturing a prospective client along the sales funnel with a personalised email sequence until they are ready to buy.

A process that generates a staggering 50% more sale-ready leads for 33% less in cost (Forrester Research 2014).

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MAKE THIS CHECKLIST WORK FOR YOUYou’re now armed with the 4 essential components of thought leadership that will help you build authority and trust in the industry. If you want to explore new methods to attract and engage clients, your first step is to increase the visibility of your firm by sharing knowledge and insights with your network and peers. While the trend is still emerging, it’s the perfect time to put your expertise into practice and have an influential effect on the sector.

At Propero Partners, we understand that time is a precious commodity for accounting firms and that busy accountants don’t always have the resources they need to invest into valuable business developmentexercises.

P R O P E R O P A R T N E R S 14 Gower ’s Walk , London, E1 8PY | 020 3369 6844 | contact @properopartners.com | properopartners.com

Our decades of experience in helping businesses expand through strategic marketing means that we know how to grow your practice consistently and predictably.

When you commission us to propel your firm’s thought leadership status,you engage the support of our entire team of marketing experts, including our in-house copywriters, advertising pros, SEO specialists and graphic designers to get the results you’re looking for.

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