Clearly Define the Problem You Solve
Accounting professionals constantly seek ways to increase their income. But they forget to ask two critical questions, What does my client really want?” or How can I solve their most significant problem? Consider the problem you solve and how your accounting services relates to your clients wants, needs or desires.
The failure rate for new offerings is mind-blowing. About 80% of new offerings flop. Either, you develop a product no one really wants. Or, your marketing efforts fall on deaf ears.
Regardless of what type of accounting practice you have, or who you serve, do the research to clearly define what your ideal client cares most about. Find out the problem you solve which your clients will happily pay for.
The profit your client gains must be greater than the price they pay you for your services.
Give Generously Before You Ask
Gary Vaynerchuk, a well respected marketing guru, wrote Jab, Jab, Jab; Right Hook. This book shares his customer service philosophy. Basically, you “give, give, give; before you ask.”
Even during the early days, while working in his father’s wine business, customer service was a core value. He once drove two hours in the middle of a snowstorm to deliver a case of low-end wine during the holidays.
A few weeks later, that customer’s wealthy son placed a gigantic order with them, affirming his notion that relationships create the foundation of your business.Delight your clients. The magic happens when your clients realize their experience exceeds their expectations. Read full post. #getpaidwhatyoureworth Click To Tweet
Delight your clients. The magic happens when your clients realize their experience exceeds their expectations. Make problem solving a priority, even if it extends beyond what you do.
Time and Money
When you drill it down, two specific types of value exist – time and money. Clients seek fast results for a good price. The reason is simple – everything revolves around these two things.
Time and money influence most decisions. Some value time over money and some — money over time.
Connect the problem you solve to time and money. Answer the following questions:
1. How does your service save your clients money?
List the various ways your accounting services save your clients money..
Bookkeepers, for example, find redundancy, uncollected monies and inefficiencies. A tax advisor instructs you on how to lower your taxes, avoid penalties or eliminate surprise tax bills.
2. In what way do you make them money?
Next, determine the different ways your accounting service makes your clients money. If you are an accountant, you can help with forecasting, investing and advisory services.
Spend some time figuring out how your clients make more money because they have access to you, and your service.
3. Does your accounting services save them time?
Since your clients are busy people, time management takes priority. Identify all the various ways your accounting services save time.
For example, virtual bookkeepers assist their clients with keeping their financials current i.e. pay bills, payroll and maintain their books. This frees up your clients to focus on other business development activities.
Consider the problem you solve and how it’s efficient. Do you advise your clients on how technology performs certain types of legwork? Or, do you quickly respond to client calls? Either way, saving time is an overlooked value.Treat your clients like royalty. Consider how you save them money, make them money, make it easy and speed up the result. Read full post. #getpaidwhatyoureworth Click To Tweet
4. How does your accounting service makes things easy?
Do you make things easy for your clients? A business has many labor intensive or time-consuming activities. Your clients simply lack the skills or the desire to do some of them. Accounting, payroll, bill pay, collections, inventory management – you choose from a range of services you can take off their plate.
For example, a bookkeeper who understands Point of Sale (POS) systems can offer restaurants insights on orders. The information gathered from the data can help with inventory, menu updates and tracking client purchases. Restaurant owners need the data; however, they don’t want to be the ones gathering the information or developing the reports.
Great Questions Grab Attention
How do your clients recognize your value? Talk more about them and less about your service. Want to grab their attention? Then ask great questions and ditch the pitch. The specific questions you ask revolve around the problem you solve.
For example, a CPA can advise on how to increase employee retention by adding employee benefits. Not only will this reduce employee turnover, it will also increase profitability. As you ask specific questions, you uncover your clients core concerns.
The Nordstrom Experience
Nordstrom built their entire reputation around the customer service experience. They decided not to compete on price. Rather they lead with value. What they do, especially their return policy, is noteworthy.Treat your clients like royalty. The little things you do to nurture your client relationships goes a long way. Read full post. #getpaidwhatyoureworth Click To Tweet
Treat your clients like royalty. Consider how you save them money, make them money, make it easy and speed up the result. The little things you do to nurture your client relationships goes a long way.
Educate your clients about the specific problem you solve. Follow these recommendations for your accounting practice to increase profits without burning out. Discover how to attract clients who happily pay your fees. Right NOW claim your FREE RESOURCE to earn more while reducing your workload.