Growing and marketing your bookkeeping practice

Piecing together the elements of

your marketingto help you build

a ‘successful’ practice

Mike Foster MICBHead of Member Development

ICB Bookkeepers Summit 2013

• Prior Bank (Area manager start ups) & Leisure• 2003 Started the A1 Group of businesses• 2006 Employed my first person

(wanted a business less reliant on just me)• 2008 Took my first office space• 2009 Started the Oxfordshire regional meetings as Chair• 2009 Shortlisted for ICB Bookkeeping Practice of the Year• 2011 Shortlisted for ICB Bookkeeping Practice of the Year• 2011 Franchised the A1 business model• 2011 Appointed Regional Chair for Thames Valley & South • 2013 Sold the A1 business (office, 5 employees, 44 clients, franchise)

Author, Presenter www.startyourownbusinessdvd.co.uk

Trusted team

Gold starservice

Ideal clients

Effective Marketing

Work / lifebalance

Entity to suit

The office

Compelling Vision

Goal planning

Client meetings & Communication

ClearProposition

Efficiency

The cornerstone isEffective

Marketing

7 systemised steps for growth

1. Number of leads marketing2. Conversation rate sales3. Number of customer sales cross sales4. Value of sales prices 5. Margin cost management6. Buy more often sales & service7. Increase customer lifetime retention

Start with a compelling vision

• If you don’t know where you are going, how will you ever know when you get there?

• Keep the vision in mind for all decisions you make and if it does not take you towards it then don’t do it

• It will help shape your marketing proposition

A compelling vision• Why are you running your business?• Don’t limit your thinking• Capability & Resource gaps can be addressed if they

are known• Does this vision get you excited and motivated to act? • Something to measure against• Content, Context & Credibility - Compelling visions move

people to action, changes behaviours & priorities and creates a pathway to follow

Have a Clear Proposition• Excel to be the best at a few things rather than have

many things you do quite well. • Bookkeeping & Payroll only?• Ensure your offering is around what delighted customers

actually want• Specialist area of work

Ideal Clients

• Be patient and don't jump at any new clients• We all want enjoyable days • Know your ideal client profile• Do your market research

• Non ideal clients will grind you & your team down!

Know what do you ‘really’ do?

Establish your USP

• List all your benefits (from shoes of your customers)

• Which characteristics do customers value mostOften it will not be price, service or think the best

• Consider each and indicate if

Different / unique

How compares to competitors (+ / -) and why

WEBSITE

ADVERTISING

DIRECT MAIL

PREMISES

SALES PROMOTION

E-MARKETING

MERCHANDISING

RETAIL CHANNELS

Must be anIntegratedapproach

PACKAGING

SALES TOOLS

FACE-TO-FACE

EVENTS / EXHIBITIONS

COMPANY LITERATURE

WORD-OF-MOUTH

SPONSORSHIP

PR / SOCIAL MEDIA

Various marketing tactics

Activity that works

• Have an ‘attractive’ business card - ICB cards, picture

• Build a network to gain referrals • Direct mail – online & postal • Grow your credibility• Start with one leaflet / advert • Web site & online presence – including social media

Effective Marketing

• Create time for marketing – schedule to do it

• Know what works and just do more of that really well• Don't get distracted if a new fad comes your way

• Target activity

@MikeFozOxford

uk.linkedin.com/in/mikefosteroxford/

0845 060 2345