While developing new business is key to the success of any CPA firm, it is important not to let existing clients slip through the cracks. Dividing marketing efforts between existing and prospective clients can be a challenge, but implementing a few key strategies can help stabilize the balancing act and help you deliver top-notch client services.

Communicate intentionally with your current clients

One of the best ways to retain existing clients is through intentional and consistent communication. Reiterate your role as a valuable asset by sending out monthly newsletters, tax planning letters and other helpful tips. Include specific content about services that you know will interest your clients, and be sure to emphasize that you value their satisfaction and feedback. Regular communication with those you serve is a great way to market your services, and it is also key to understanding what your clients like, which services are most successful and what might need improvement within your client service model.

Implement targeted marketing strategies to engage prospective clients

Niche marketing is one way to do this. From lawyers to nonprofits to small businesses, choose a niche that you can easily reach and develop a marketing strategy that will get people talking within that group. Targeting your marketing strategy toward a specific niche is not only easier and less expensive than general marketing, it also eradicates much of your competition because by narrowing your marketing focus, you are also narrowing your range of competitors. If you don’t have the resources to do this in-house, considering hiring an agency partner to work with your internal marketing team.

Know your competition and understand what your clients need

By understanding what makes your firm different from others and using it to your advantage, you can market yourself to existing and prospective clients in a way that is unique and unmatched by competitors. Getting to know prospective clients is important, too, as it will help ensure that you are offering them relevant services at an attainable price. Understanding prospective clients and their needs will also prepare you for objections that may occur down the road, and it will better equip you to handle those objections should they arise.

Engaging existing and prospective clients simultaneously may seem like a daunting task, but balancing marketing strategies between the two groups is a great way to effectively grow and maintain your client base. For more tips and techniques regarding client service, check out Surgent’s self-study webcast, Client Service and Selling to Prospects.”

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