outlook & analysis

alan vitberg: accounting marketing on the verge of a ‘lead gen’ revolution

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how smart firms are turning to digital tools and metrics.

by alan vitberg
vitbergllc

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i believe that marketing and business development at cpa firms is on the edge a transformation based upon the monumental changes to the way we receive, process, use and share information.

it’s not about “pushing” information out to prospects, it’s about

  1. being found by prospects searching online for solutions to their needs, issues or pain;
  2. converting those eyeballs into leads and new business; and
  3. employing tools that deliver metrics for pinpointing the roi from investments made in marketing and business development.
alan vitberg
alan vitberg

successful firms are taking a fresh approach to business development that combines traditional 1-to-1 marketing with new marketing strategies and tactics built upon inbound marketing, a laser-like focus lead generation, and the many faceted ways that social media can be employed for new business purposes.

among the key strategies and tactics they employ are: read more →

most corporate finance salaries remain flat

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stuck at about $128,000 in total comp.

pay for finance and accounting executives is remaining essentially flat for the third year in a row, according to a survey by the institute of management accountants of its members.

the average salary increased 3.1% to $109,265 and total compensation increased 4.2% $128,486. but the ima said “neither increase is statistically significant.”

unlike earlier years, total compensation in the latest year rose faster than base salaries. the ima said more finance executives received raises this year, but the average amount of the raise has remained flat.

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cfos expect big raises this year

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companies increasingly tie pay to non-financial targets.

click to enlarge. source: aicpa

pay for cfos is set to rebound this year after two years of declines, according to a new aicpa member survey.

predicting “a substantial improvement in 2011 at both private and public companies,” the aicpa survey says bonus-driven compensation should be buoyed this year by rapidly improving corporate performance.

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stambaugh ness makes competitive gains with linkedin, twitter and facebook

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marketing culture and leadership aid in the ‘new war for clients.’

by cheryl smyers
marketing manager, stambaugh ness

i could talk for a whole day about what’s working for us, but i’ll just give you some highlights, because time is tight right now – the more that works for us, the more work we have to do!

most importantly, from my point of view, we have a president/coo and an executive committee that have the courage to step out and lead in very strategic way, not just follow. for example, many were still afraid of “social networking” when we were on board and posting regularly to linkedin, twitter and facebook.

cheryl smyers

in just 16 months, we have grown a linkedin industry group into a monthly face-to-face regional networking mixer that now regularly draws 200 clients and prospects–and it continues to grow. for this effort, the association for accounting marketing awarded stambaugh ness the marketing achievement award for event marketing, trade shows and seminars for firms under $15 million revenue at its june annual conference in chicago.

our recent membership in the bdo alliance gives us many resources to provide increased depth of services to our clientele – and gives bdo a stronger presence in our growing mid-atlantic service area.

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tom blair: ‘one size fits all’ simply won’t work anymore

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nine rules for tax season success, including: bartering services for ammo, if necessary.

by thomas avery blair, ea
tomblairea.com

i believe that in order for the registered tax preparer/licensed tax attorney, cpa and enrolled agent to remain in business now and in the future, there will have to be a resurgence in the attitudes of conventional and unconventional “personal service” to the individual tax client.

i bear witness to the fact that my own small tax practice now requires that more personal attention be given to the individual client. “one size fits all” simply won’t work. the tax code is growing ever more complex while the public’s education in federal taxation matters is waning.

here are some examples of what i mean:

tom blair

1. my clients needed year around access to a notary public… so i became and now remain a commissioned notary public.

2. my clients needed cost-effective access to legal advice, especially over matters of wealth retention… so i fostered a business relationship with an attorney with a desire to have her own practice who had the precise skills my clients asked me to find for them. she gets free office space in my office three days a week by giving my tax clients $50 an hour discounted rates on initial consultations in the “off season.”

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16 rules to $2.25 billion: godaddy founder’s homespun wisdom

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now that internet services provider godaddy has been sold for $2.25 billion, founder bob parsons is looking pretty smart.

bob parsons

so maybe it’s worth looking at the entrepreneurial, controversial parsons’ self-written “16 rules.” (by the way, after serving in vietnam, parson graduated with an accounting degree.)

1.  get and stay out of your comfort zone. i believe that not much happens of any significance when we’re in our comfort zone. i hear people say, “but i’m concerned about security.” my response to that is simple: “security is for cadavers.”

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joel sinkin: for new clients, personal relationships aren’t enough anymore

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clients want to see niche-focused expertise and a heavy marketing spend.

by joel sinkin
accounting transition advisors

we see two tactics being used by the best firms.

joel sinkin
joel sinkin

due to the competitive environment and the flat economy, acquisitions of other practices is a primary growth strategy for many firms today.

but, to spur organic growth, most of the best firms are targeting their marketing and service offerings at specialized target audiences either through industry or service niche offerings. read more →