Marketing your startup practice

Download the eBook

Introduction

What I love about my job is that every single day I get to talk about marketing with accountants who are bursting with ambition for their firm.

They might be partners in established firms that need to liven things up or change tack – and have the budget to cover everything from brand strategy workshops to brand new websites to video.

Often, though, they’re just getting started, have a limited marketing budget and need to focus their efforts carefully. If that sounds familiar, this guide is for you.

This last year in particular, we’ve seen a huge increase in the number of startups like yours approaching us for advice. We know it can be tough out there, trying to stand out in a crowded market and to compete with established players.

We want to help you make the most of your new venture and, with that in mind, this guide anticipates some key questions you might have about marketing:

• What should I do first?
• Are there things I can do myself?
• What can I do for free or at low cost?
• Is social media the solution?
• What will have the biggest impact on growth?

It includes some quick exercises you can undertake alone or with your team as well as practical advice provided by PracticeWeb’s team of marketing experts.

By the end, you should have clarity and the beginnings of a marketing plan.

And if you need help or support, get in touch.

Zoe Sweet
Commercial Director

What is the purpose of marketing?

In brief, marketing is firstly about making your firm visible to people who might want to engage its services.

Secondly, it conveys how you can solve their problems and make their lives easier – it shows you are useful. Finally, it compels them to choose you over the competition because you are more credible.

• Hey, we’re here!
• This is why you should care.
• And why we’re right for you.

To flip that on its head, without marketing, you’ll be invisible to potential clients, or irrelevant, or unconvincing.

This all ties into what we call the ‘buyer journey’ – the route a potential client takes from becoming aware of your firm to making a purchase.

Everything you do should be focused on moving them along that path, removing the obstacles that make it easy for them to step away and look elsewhere.

It’s about removing friction and making the choice to do business with you feel like a no-brainer.

Download the full guide to complete the exercise that illustrates the buyer journey.

Particular challenges for startup accountancy firms

In some ways, startups have the advantage.

They’re often leaner and more nimble; they’re not weighed down by tradition or established practice; and buyers often gravitate towards what’s new and exciting.

At the same time, SMEs also demand experience. Research we conducted in 2019 found that 71% said it was important that their accountant knew their sector.

We also know that the vast majority of UK consumers prefer to buy financial services from established brands – 88% according to research by SurveyMonkey in 2018. That’s because longevity means stability and stability suggests trustworthiness – and trust is especially important in accountancy.

Practically speaking, the longer your firm has been around, the more time it will have had to build a bank of testimonials, online reviews and case studies. That’s all proof that you really know what you’re doing out in the real world, not just on paper.

Accountancy is also a competitive and crowded market, with remarkably loyal clients. Or, to put that another way, you not only need to be good but so good that you can overcome inertia. New entrants need a point of difference that will not only get them noticed but also convince SME owner-operators to go to the trouble of switching.

It might be niche expertise, or it could be about company culture and personality. Whatever it is, you need to believe in it and shout about it.

Think about successful startups in other sectors – they often promise to do one specific thing really well, from providing an easy way to get a cheap cab (Uber) to selling fitness-wear that looks cooler than the competition (Gymshark).

Download the full guide to complete the exercise on setting out your elevator pitch.

How we can help

We love working with startup accountancy firms – especially those with big ideas – and have a range of marketing products designed to support you in those early stages.

We offer UK accountancy firms the most comprehensive range of marketing packages available.

And when your investment in marketing begins to pay off and you’re ready to expand your website, build your content offering or take your brand to the next level, we’ll have the advantage of knowing your firm already.