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• W7492860 abstract "EDITOR Judith R. Trepeck, CPA The Trepeck Group 2000 Town Center, Suite 1900 Southfield, Michigan 48075 CONTRIBUTING EDITORS Jerrell A. Atkinson, CPA Atkinson & Co., Ltd. Albuquerque, New Mexico Douglas L. Blensly, CPA Delbert M. Goehner Accountancy Corporation Pasadena, California Carl S. Chilton, Jr., CPA Long, Chilton, Payte & Hardin Brownsville, Texas Jimmie L. Sam Cole, CPA Cole & Reed, P.C. Oklahoma City, Oklahoma James G. Cullen, CPA Cullen & Associates Chelmsford, Massachusetts Sylvester Del Low, CPA Deloitte & Touche Seattle, Washington Dixon Fagerberg, Jr., CPA Munds Park, Arizona Wayne C. Grace, CPA Grace & Company, PC St. Louis, Missouri Charles B. Larson, CPA St. Joseph, Missouri J. Robert Shine, CPA Monroe Shine & Co., Inc. New Albany, indiana Stanley I. Simkins, CPA Management Advisory Group Albany, New York Paula Bevels Thomas, CPA Murfreesboro, Tennessee Developing a specialized niche is a worthwhile strategy for CPA firms, but practice development savvy is crucial. Allan S. Boress, CPA, of Allan S. Boress and Associates, Coral Springs, Florida, describes the pitfalls to avoid when trying to market specialized services. CPAs make a large investment of time, effort, energy and resources in their marketing attempts. When developing a practice in a specialized niche area, it's important to know the approaches to avoid to ensure success. Here are three of the biggest mistakes practitioners make in promoting specialized services. MISTAKE #1: THE WRONG EXPECTATIONS Practitioners often erroneously believe that spending a lot of money on marketing is the best strategy--particularly when launching a new practice area. No matter what firm a CPA works for or what service he or she is providing, when a client buys professional services, the final purchasing decision is based almost entirely on interaction between real human beings--the client and the practitioner. It's true that if a firm spends a fortune on advertising, entertaining and getting the word out, after about five years the community will more readily recognize the firm and what it does. Name recognition doesn't come overnight--or inexpensively. But all it does is get the practitioner in the door. The final decision isn't made until after the client has met the person with whom he or she will be working. CPAs shouldn't ever forget this marketing axiom: People buy people, not CPA firms. The good news is that it's not necessary to invest a fortune on marketing to be effective at it. It is necessary, however, that CPAs become personally involved in the marketing effort and its implementation. Many CPAs believe that if they conduct one seminar or run an ad, they're going to get business. That's not how it works, although it's possible to get lucky once in a while. Marketing is a process, not an event. It is cumulative--each effort builds on what's been done in the past. One-shot marketing--and strategies that aren't built on personal involvement--rarely produce business. …" @default.
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• W7492860 title "Niche Service Marketing: The Three Biggest Mistakes" @default.
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