The Real Reason Why Accounting Firms Often Attract The Wrong Kinds Of Clients

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Any accounting firm worth its salt should seek to widen its client base.

Unfortunately, many budding accounting firms find themselves appealing to the wrong kinds of clients when they first start working towards this goal.

In many ways, this is part and parcel of learning what you don’t want from your client base. But you may also find that your business needs a little help if you keep attracting the wrong clients time and again. 

After all, this is an issue that can lead to team burnout, full books, and shrinking prospects for the right kind of growth with each working day.

Luckily, we’re going to try to dig you out of the wrong client trenches by considering why, exactly, so many accounting firms face this lingering issue, and what you can do to overcome it. 

# 1 - Marketing Mishaps

General marketing advice tends towards sensationalist content and presence on as many social platforms as possible, but this is rarely applicable to accounting services.

Hence, marketing mishaps are one of the main reasons why your client books might be all wrong right now. 

Realistically, accounting firms should aim towards marketing touch-points like a professional social media image, a streamlined, uniquely positioned website, and a content plan that’s more about educational value than it is hard-hitting headlines.

If you’re not doing these things right now, or you don’t know how to implement them, then it’s worth seeking the help of a company like RightFit.

Their accounting firm growth planning involves priorities like marketing and communication, to help your firm send the right message to the right clients, at last. 

# 2 - Bad Brand Positioning

Brand positioning can also majorly impact who your services appeal to the most.

For instance, you’ll struggle to grow into a luxury client base if you begin by pitching budget or discount accounting, and vice versa. 

While it’s certainly true that all accounting firms can adapt and evolve, it’s still important to develop a clear idea of where in the market you belong, which clients sit within that sphere, and what they most look for in their financial partners.

Then, be sure that your brand positioning sits well within that from day one. 

# 3 - Relying Too Heavily on Referrals

Referrals can be major game changers in the financial world, especially within accounting.

If every client recommends a friend, then business could soon be booming in a relatively organic way. But what happens if a poorly suited client recommends one of their friends?

The chances are that you’ll end up with yet more of the wrong kinds of clients, potentially ad infinitum. 

That’s why you’ll want to stop the referral ball from rolling in the wrong direction.

Account vetting processes may be your best option, and can ensure that each recommendation is actually the right fit.

Then, you can start focusing on client relationships that lead to the referrals you actually want. 

All business is good business, until your accounting firm gets caught up with the wrong kinds of clients due to these notable mishaps.