hitting the bull’s eye: get targeted in your client approach · get targeted in your client...
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HITTING THE BULL’S EYE:
GET TARGETED IN YOUR CLIENT APPROACH
June 23, 2016
1
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Introductions
Deneen Dias
Senior Strategic Account Manger
7+ years working with firms on ways to utilize
cloud technology to transform their client
accounting practice
Helps hundreds of firms evaluate, implement, and
leverage technology to improve internal processes
as well as enhance their client relationship
Keen interest in working with firms of all sizes to
drive increases to their bottom lines through
implementing new cloud technology
Consults with firms on ways to add new revenue
streams from new services lines including
Business Process Outsourcing (BPO), and real
time advisory services
Brings 10 years of experience working with firms
of all sizes
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CPA.com PRODUCTS & SERVICES
FIRM CLOUD BASED SOLUTIONS
EDUCATION & RESOURCES
MISSION
Empowering CPAs and Businesses For The Digital Age
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Our Team
Dedicated account management
from experienced CPA.com
representatives
Expert guidance and tools to help
you grow your practice
Experience in working with
thousands of firms that have adopted
cloud technology
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Virtual
Controllership
Collaborative
Advisory
Services –
Virtual CFO
Write-Up
Wide Spectrum of Service Levels for Client Accounting
Business Process
Outsourcing
Advisory $
Transactional
Firm Service
Spectrum
HistoricalCompliance oriented
Daily operations Real-time information
Consulting on business decisions
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6
Evolving Client Needs – What Clients Want
Top 3 for How SMBs Selected Accountant
• Expertise
• Responsiveness
• Proactive Strategic Advice
Top 3 for Services Desired Outside of Services
Already Received:
• Business planning
• Business strategy
• Create Dashboards to monitor business
*The Sleeter Group research published April 9th, 2014
http://www.sleeter.com/blog/2014/04/smbs-want-accountant-2014-update/
Why SMBs leave
accountants:
#1 Does not give
proactive advice,
only reactive
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$50 billion
40
30
20
10
2010
$42
$9
$12
$19
Strong Growth In Advisory ServicesOver Past Four Years
2014
$54
$17
$15
$20
Advisory Services
91% growth
Tax
17% growth
Audit & Accounting
6% growth
Other
Source: Accounting Today, Top 100 firms survey, 2010 and 2014
Revenue split at top 100 accounting firms
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The Technology Difference
Collaboration between firm and clients
Both teams work together in real-time
Opportunity to leverage best practices from the start rather than
cleaning up “after the fact”
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The 3 A’s
Access
• Real-time information
• Better collaboration with clients
Accuracy
• More control of information
• Deliver information timely & accurately
Analytics
• Looking at business problems and issues, and improving those for the client
• Allows you to be more consultative
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Where I see firms struggle
Tax partners aren’t understanding that this is different
o Getting the “wrong” leads
Bookkeepers have prided themselves on being
“generalist”. It’s just as important to specialize like the
tax team does,
Are you afraid to say NO? TARGETED & DEFINED
SERVICES is KEY
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Certified Intacct® BPO Partner & Bill.com
QuickBooks ProAdvisor, Member of Mindshop International
Nationally recognized thought leader in cloud-based accounting.
As a self-proclaimed “foodie”, Dixie spends her free time dining at the hundreds of restaurants Atlanta has to offer.
Introductions
Dixie McCurley
Co-founder & Partner
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Selecting a Niche
Key fundamentals in targeting right client:
• Work out your vertical niche
• Where can you find clients in your vertical
• Who can help you land them
• How you work best as a partner with them
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lion pride
common goal:
hunt and feed
role:
cubs
prepare to move up
support the kill
junior lioness 300 lbs
plan & execute the kill
senior lioness 400 lbs
continuity & security
black bull 550 lbs
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lion pride
common goal:
hunt and feed
need 1 ton of
meat / week
46 pounds of meat 1100 pounds of meat
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lion pride
common goal & vision:
hunt and feed
plan:
hunt by the pride plan
to cull and ignore the small prey that distracts them and uses
up the energy that is vital to their survival
learned:
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how do you find your Zebras?Client selection
• Which Clients do you want to spend more time with? How will you do that?
• Which Clients do you want to spend less time with? How will you do that?
• How can you test a potential Client before starting a formal relationship?
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types of clients 17
low value clients:
46 pounds of meat 1100 pounds of meat
high value clients:
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what does your firm offer?
dif
fere
nti
ati
on
relative costhigh
high
low
costleadership
outstandingsuccess niche
disaster
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market segmentation:
is your segment size large enough
to make a profit?
is the segment growing or
shrinking?
how long will it take to make a
profit in the segment?
is the segment seasonal or
cyclical?
how do you find your Zebras?
productofferings
geography of customers
customer type
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meaningful client engagement
how
where
now
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Value of BPO to Firm
Smart client/accountant collaboration (creates stickiness)
Simple, high value processes delivered through the cloud
Greater control of client information
Greater security and internal controls
Year-round service opportunities to generate revenue
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Value of BPO to Client
Eliminates work unrelated to core business mission
Best practices to most efficiently manage work
Reduces fraud risks through greater security and internal controls
Access to controller/CFO level services (at a fraction of the cost)
Proactive firm involvement
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QUESTIONS?
23
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September 22-23, 2016
Englewood, CO
October 18-19, 2016
New York, NY
Learn more:
CPA.com/casworkshop