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What strategy to put in place in your accounting firm?

What strategy to put in place in your accounting firm?

The digital transition has transformed the profession of accountant, but also customer expectations. The environment becomes more competitive and clients compare the different services and prices of firms before making their choice. Standing out, adapting, expanding its range of services in order to stand out is therefore essential.

The implementation of a strategy, determining its objectives allows the accountant to adapt in a constantly evolving and increasingly competitive environment.

Niche strategy and loyalty

The niche strategy

It is for your accounting firm to diversify strongly to address only a very specific target. This marketing strategy can lead you to specialize in a sector of activity, hospitality, e-commerce, industry, health, etc.

The niche strategy can also lead you to target a typology of customers according to their needs and no longer to their sector of activity. You then turn to companies looking for long-term support by offering them a tailor-made and multidisciplinary service, help in the management of the company, staff, assets, etc.

To develop this multidisciplinary offer, a firm of accountants has several possibilities. He can develop these skills internally or choose to create a network of partners. The ecosystem of the chartered accountant is made up of lawyers, bankers, insurers, real estate agents, notaries. Bringing together a core of complementary professionals allows you to respond to your clients according to their issues. The members of this network are therefore both service providers and business providers. This network is therefore the hotbed of business opportunities for all its members.

Develop your practice with current clients

The development strategy with your clients consists of developing and adapting your missions to better meet their needs. It is the most obvious and the fastest to deploy. It helps to build customer loyalty and increase your missions.

You will intersect the needs of your firm's clients with its potential. Then you will analyze your customers to determine their potential but also how you can be of use to them. You will thus be able to define a typology of customer-needs to bring it closer to your offers. You can then adapt these offers as a package or à la carte to meet the needs of each type of customer concerned.

Pricing strategy and customer acquisition

It is also essential to recruit new customers, whether you choose a niche strategy or a pricing strategy.

Communicate and recruit new customers

Prospecting is not in the DNA of the profession of accountant. However, it is essential to recruit new customers to compensate for business closures, customers who would compete and continue to develop their business and even more if we opt for a pricing strategy.

It is therefore essential to adopt a marketing and communication strategy in order to communicate in compliance with ethics but also to control costs, the time devoted to this aspect of activity and to address the right target.

The goal is to "sell" the same services to your new customers as to your current customers, but to communicate in a subtle way. Show your initiatives, promote your contacts, tell real-life stories, share a specific skill, etc. It is also useful for your current clients who may discover your firm in a light they did not know and entrust you with a new assignment after discovering one of your skills.

Opt for a pricing strategy

Another possible strategy for an accounting firm is the pricing strategy. The idea here is to offer an offer whose perceived value by customers is comparable to those of the competition but at a lower price.

To be profitable, the firm seeks to lower its costs in order to be able to lower its prices. To do this, it will have to operate in reverse of a niche strategy by standardizing its services, optimizing its work processes and dividing up the tasks, via a highly dematerialized activity (electronic document management, dematerialization of bookkeeping, software ultra productive). To remain profitable despite this price reduction, the firm must develop its client portfolio to achieve economies of scale and not hesitate to outsource low value-added tasks such as data entry and bookkeeping.

Whatever choices you make for your accounting firm, it is essential today to face the competition and adapt to the economic context to build a strategy that will be the roadmap for the development of your professional activity.

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