CPA Practice Advisor - 23

MARKETING YOUR FIRM

Is Branding Just for Large Accounting Firms?
By Jean Caragher

WHAT IS BRANDING, really? It is often misunderstood and associated with huge
dollar investments - or it is thought to be simply redesigning a firm's logo or
meant for only large accounting firms. None of this is correct.
Brand development is a strategy that can be used
by CPA firms of all sizes because it can accomplish
many important objectives simultaneously, such as:
■ increase a firm's visibility in the marketplace;
■ differentiate a firm from its competitors;
■ deliver more consistent messages to clients, contacts,
and staff;
■ focus a firm's marketing program;
■ enhance recruiting and retention efforts; and
■ integrate marketing and communications after a
merger.
Branding is not just the use of a name, term,
logomark, or design to identify a product or service,
but it is also the development of a personal relationship between the client and the product or service.
Your brand name conveys a set of expectations and
associations and conjures up the personality of your
firm. Simply put, it is who people think you are, from
the way a person answers the phone, to the way you
do business, to the look of the invoice.
Positioning drives branding strategy. A market
position is a promise between your firm and the
client. For example, what comes to mind when you
think of Volvo? For most people, it is "safety." Volvo's
early brand positioning focused on keeping drivers
safe from accidents with safety-glass windshields
and steel cages. Safety at Volvo now works in new
ways. Preventative safety helps us avoid accidents in
the first place. They have also addressed increasing
concerns about crime with their personal safety
initiatives: building features into the car that help
make you safe as you enter and exit your car.

So, what's your position? The CPA brand is often
associated with attributes including integrity, competence and objectivity. Marketing research commissioned by the AICPA supports these attributes.
But since these attributes are inherent in all CPA
firms, the key to successful brand development for
your firm is to determine its unique characteristics,
personality, and culture. Think about your particular set of values, programs, culture, assets/skills, or
the people who deliver a service. Then determine
a unique position.

FIVE ELEMENTS OF A CONSISTENT
BRAND
■ Logo. Your logo is possibly the most important
element of a brand identity. It is usually the
most recognizable element of a branding system,
since it is typically used in all materials. A
rectangular-shaped logo is ideal. In one glance
people should know who you are and what you
do. Do not make too many variations of your
logo. This will weaken your identity. Create a
logo library that includes a color version, black
and white version, square logo (for social media)
with and without your tagline.
■ Tagline. A tagline is a slogan or a short set of
words used to associate with your firm or brand,
conveying the most important attribute or benefit
that you wish to communicate. A tagline should
support your positioning and be short, simple,
and clear. A tagline that raises questions is not
effective.

■ Colors. In order for your brand's colors to become
associated with your firm, it is important that the
same colors are used throughout all materials.
By selecting Pantones (and their corresponding
RGB/CMYK colors), and enforcing their usage,
you ensure that the colors used in all of your
firm's print and digital pieces remain consistent.
■ Fonts. Similar to colors, it is important to select
specific fonts that should be used throughout
your firm's materials. Limit this selection to as
few fonts as possible. Additionally, it is important
to select a corresponding web-safe font to use if
your firm fonts are not already web-safe. Choose
fonts that reflect your firm's image and mesh
well with your logo and other style elements.
■ Imagery: Illustrative and/or Photographic Style.
Select one imagery style, illustrations or photography. All imagery should have a consistent look
and feel, whether printed or online.

CONCLUSION
Building your accounting firm's brand is an
investment of time and dollars. However, your
new brand and positioning can increase your
firm's visibility; differentiate it from competitors; deliver more consistent messages; focus
your marketing program; enhance recruiting
and retention efforts; and, integrate marketing
and communications after a merger. ■
Jean Marie Caragher is president of Capstone Marketing,
providing marketing consulting services to CPA firms. She
is the author of The 90-Day Marketing Plan for CPA
Firms: How to Create the Roadmap for Your Firm's
Growth and Gear Up for Growth: The Marketing
Trends Manual for Accountants. For more information
contact her at 727.210.7306 or jcaragher@capstonemarketing.com.

OCTOBER 2019 ■

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