CPA Practice Advisor - 14

BUILDING YOUR

Each month we explore the
advantages and intricacies
of developing and growing
a niche practice.
This month we're examining
what it takes to serve the niche
of retail food stores.

NICHE PRACTICE

5 Ways Accounting Firms Can Attract Food Store Clients
By Becky Livingston

IF YOUR FIRM is adding or expanding food stores to its industry
clients, here are five marketing munchies you can use to attract
them.
RESEARCH SIC
CODE 5411

RESOURCES FOR
THE FOOD STORE
ACCOUNTANT

* National Association
of Convenience Stores
(NACS) newsletter:
https://bit.ly/2Y9kh8W

* Changes at the Checkout
- from Convenience
Store Decisions:
https://bit.ly/2Lg7gc8
* Modern Times Call
for Modern Payment
Systems - from
Convenience Store
News:
https://bit.ly/2H0akDF
* How Direct-to-Consumer
will Redefine Grocery from Progressive Grocer:
https://bit.ly/2JivVtK

This code is used for supermarkets and
grocery stores; however, if you're looking to connect with organic stores, there
may be a sub-SIC code. Once you've
identified the SIC code(s) you most
want to target, request a Hoovers, Lexis
Nexis, or Dun and Bradstreet report on
the stores, with contact information,
annual revenue, store locations, and
more.
Then use a multi-pronged marketing
approach to reach out to them, including
a print (e.g., postcard, promotional item,

14

MAY 2019 ■

SHAKE HANDS
Word of mouth is a great
way to reach new clients. Consider hosting an event with a buy-one-bring-one
promotion, where one paid attendee
may bring another for free. Feature
one or more of your other clients that

LEAD GENERATION
CONTENT
Reaching your target market organically
can be hard, especially if you don't have
engaging content and landing pages to
capture their information. What's a
CPA to do? Develop content that will
draw food store clients toward your
brand, with topics such as cash flow

How to Revive Your Marketing Efforts After Tax Season
By Jean Caragher

IF YOU'RE LIKE most small firms your marketing activities were placed
on the back burner while you studied the TCJA and translated the new
law for your clients this tax season. Take a breath - or a well-deserved
vacation - and then dust off your marketing plan to update your
goals and strategies.According to Gear Up for Growth: The Marketing
Trends Manual for Accountants three of the top marketing activities
that firms with 2-50 professionals plan to increase are:
■■Networking
■■Upgrading Website
■■Social Media
This is the perfect place to start
reviving your marketing efforts.

INCREASE YOUR NETWORKING ACTIVITIES
Building Your
Niche Practice
is sponsored by
Intuit QuickBooks.

or media kit) and an email campaign
that focuses on one of their pain points
and how you can solve it. Then, touch
base with the contacts about those
communications and to schedule a free
consultation or to encourage a registration for a free webinar or local business
event you're hosting.

could also offer services food stores
might need, such as lawyers, bankers,
and event planners. Make the presentation fun by featuring pain points using
bullet points, charts, and graphics
featuring foods and beverages. Consider
a call to action at the end of the event
to schedule a meeting or to get more
information.

Begin with your current referral
sources. Prioritize your list and arrange
breakfast and/or lunch meetings. While
I recommend three meetings per week,
establish a realistic goal that will work
for you. One referral source meeting per
week is better than none.
Depending upon the number of

www.CPAPracticeAdvisor.com

referral sources in your network you'll
need to add attendance at networking
functions to your plan.
In The Sales Bible, author Jeffrey
Gitomer recommends we ask ourselves:
■■Where do I network now?
■■Where should I network?
■■Where do my best clients network?
■■What are three organizations I should
investigate and possibly join?
■■How many hours a week should I
network?
■■Who are five prime people I want to
meet?
■■What are my first-year networking
goals?

■■Do I have the networking skills I need?
■■Do I have networking tools?
■■Who is great at networking that I can
call and get help from?
Networking is a long-term marketing strategy. Done consistently it will
result in increased visibility and new
business leads.

UPGRADE YOUR WEBSITE
According to research conducted by
Greenfield Belser, 76 percent of survey
respondents say they are likely to be
influenced by the quality of professional
service firm websites. Fifty percent put
professionals on their short list based
on the information included on the
websites.
Clients, prospects, referral sources,
employees and potential employees -
basically everyone responsible for the
success of your firm - are visiting your
website. Here are seven suggestions for
upgrades:
■■Check for broken links and fix them.
https://www.bit.ly/2Y9kh8W https://www.bit.ly/2Lg7gc8 https://www.bit.ly/2H0akDF https://www.bit.ly/2JivVtK http://www.CPAPracticeAdvisor.com
CPA Practice Advisor

Table of Contents for the Digital Edition of CPA Practice Advisor
