Performance Marketing For Accounting Firms
In the professional services industry, accounting firms are often among the slowest growers, with a median growth rate of 9.3% in the 2021 High Growth Study, compared to 11.2% for the legal sector and 18% for technology and software. However, high-growth accounting firms do exist, growing 20% or more year after year, and the difference lies in their marketing. High-growth accounting firms prioritize differentiation in their marketing, invest in building their subject-matter experts through educational content, and strike a balance between traditional and digital marketing channels.
In order to emulate the success of high-growth accounting firms, there are several marketing techniques that can be implemented. The first step is to establish an online presence. With over 4.66 billion active internet users in the world, having an online presence allows for greater reach and accessibility for potential clients. This includes creating a user-friendly website with a minimalist, sophisticated design, and utilizing social media platforms to engage with clients.
Performance marketing is focuses on results. It is an advertising model in which you pay only when a specific action is taken, such as a sale, lead, or click. This action is called a conversion, and the fee paid is based on the value of the conversion. There are different models which exist. One if focused on pure pay per conversion. Such as cold emails/cold calling etc. The other is you pay a small monthly fee but a higher conversion fee. (Conversion generally means an inquiry or call booked on your calendar).
Performance marketing is different from traditional advertising models, such as cost per impression (CPM) or cost per click (CPC), in that you are only paying for actual results, rather than for exposure or clicks alone. This makes it an attractive option for businesses that want to see a direct return on their advertising investment.
In a performance marketing campaign, the advertiser sets specific goals and agrees on the conversion events that will trigger a payment to the client. The client can track the results of the campaign in real-time and adjust their strategies as needed to improve the campaign’s performance and maximize their return on investment.
Why do accounting firms need performance marketing?
Accounting firms need performance marketing for several reasons. Performance marketing is a data-driven approach to marketing that focuses on measurable results, such as increased website traffic, leads, and sales. This approach can help accounting firms in several ways:
Faster reach
Performance marketing can help accounting firms reach a wider audience, increase visibility, and attract more potential clients fast. This is especially important in a highly competitive market where accounting firms need to build out on a strategy and need results fast. Example – you want to offer tax advisory services/CFO services but don’t want to wait for organic/brand building efforts which take few months to kick in.
Improved ROI
Performance marketing allows accounting firms to measure their marketing results and optimize their campaigns based on this data. This can result in a higher return on investment (ROI) compared to traditional marketing methods that may not provide the same level of measurement and accountability.
Better targeting
Performance marketing provides the tools and insights to identify the most valuable audiences for an accounting firm’s services and target them with personalized campaigns. This can result in higher conversion rates and a more effective use of marketing budget.
Getting more leads
Performance marketing can help accounting firms generate more high-quality leads and convert them into clients. This is particularly important for accounting firms that rely on new business to grow their practice.
Overall, performance marketing can provide accounting firms with the data-driven approach they need to effectively reach, engage and convert their target audiences.
Credfino can help accounting and tax firms incorporate performance marketing in several ways. Some of these include:
Targeted Advertising Campaigns
Credfino can help accounting and tax firms target their ideal clients through online advertising on platforms such as Google Ads and Facebook Ads. This allows firms to reach potential clients who are actively searching for accounting and tax services.
Credfino can help accounting and tax firms connect with potential clients through email marketing campaigns. These campaigns can include newsletters, promotional offers, and other content that is designed to engage and build trust with clients.
Landing Pages
Our team helps in creation of landing pages needed for accounting firms campaign conversions. These pages can include calls-to-action, lead forms, and other elements that are designed to drive clients to take action.
Analytics and Reporting
Credfino can provide accounting firms with detailed analytics and reporting on their performance marketing campaigns. This can help firms understand which campaigns are working, and make data-driven decisions about how to optimize their marketing for better results.
Overall, Credfino can help accounting and tax firms incorporate performance marketing into their overall marketing strategy by providing a range of services and support that are designed to drive growth and improve results.