I am writing to you an Open Letter regarding the marketing of your industry to an American business world in desperate need of your know-how, skill sets and professional merits. Your CPA marketing is tragically in need of an audit and review.
Open Letter – n. A letter that is published in a newspaper or magazine. It is addressed to a particular person but is intended for the general reader, usually in order to protest or give an opinion about something.
I have worked in the marketing and sales circle for almost three decades. In those 30 years, I have generated tens of millions of dollars in sales for the very industries you service. Very few industries are under marketed and utilized as yours. The CPA industry is at the top, right along with effective education, for being severely under marketed. In particular, small and medium businesses are choking over their lack of understanding of taxes, financials and other services that you could be offering them routinely. For the most part, the business world still has the misconception that they can do what services you offer themselves effectively. Moreover, most of these small and medium business people believe that you are too expensive.
CPAs represent some of the brightest minds in American business, and yet you are for the most part under-appreciated and under-utilized. Your industry is sitting on top of an oil field and all you brought was Black & Decker drill. The CPA market share that is left to tap into is still enormous, and that is due to this one critical omission in your own education.
YOU WERE NOT EFFECTIVELY TAUGHT AND APPRENTICED ON WHAT MARKETING IS AS A SUBJECT, AS WELL AS ITS VARIOUS METHODOLOGIES OF APPLICATION IN THE REAL WORLD.
Sure, you took a course or two on Marketing in college or at a university. Additionally, you may have even read a book or two, as well as attended some seminars that gave you some really great CPA marketing tips. But the real test of marketing is this: Are you generating tons of new business, while generating a high level of prosperity from your existing client base?
Marketing is not a neat logo. I say this because one CPA told me, “Yes, we’re marketing. Look at my new logo.” Marketing is not about having a conservative website, a trifold brochure or the other bits and pieces that are just that. Marketing starts with a concept and an ethos that develops and builds from research and a strategy. This strategy then drives the tactical of the new logo, the brochures and the hundreds of other bits and pieces that work together in tandem to build a powerful brand. It takes times, but like money, it too builds as a valuable investment over time.
Marketing is usually the red-headed step child in the business world. It gets ignored, abused and otherwise maltreated when times get tough. When times gets tough is the exact time when you have to double down on your marketing, getting smarter about it and then becoming more resolute in the execution of your marketing plan. Marketing is as much a know-how as it is a discipline, just like managing an investment.
When you are ready to develop marketing into one of your greatest strengths, it will be the day that set yourself and business onto a path of prosperity and expansion the likes that only a few in your industry will ever attain.
I stand by to help and collaborate with you to do just that.