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Select, Specialize, Succeed:
Marketing Your Vertical NicheA Special CPA.com Webinar
December 15, 2015
Introductions
Paul WhitmoreStrategic Account Manager, CPA.com
Worked in public accounting (5 years) and then in
accounting technology roles (10 years)
Professional experience includes software sales
consulting, implementation consulting, workflow
consulting, internal staff training (excel), practice
development, and account management
Experience includes NFP and governmental auditing,
corporate, partnership and individual tax, ERP
implementations, and temporary controllership services
Empowering CPA’s and businesses for the
Digital Age
CPA.com is a subsidiary of the AICPA
CPA.com PRODUCTS & SERVICES
FIRM CLOUD BASED SOLUTIONS
EDUCATION & RESOURCES
MISSION
Empowering CPAs and Businesses For The Digital Age
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
Introductions
Eric DeVriese, CPATrusted Business Advisor, RealTime CPAs
Founder of RealTime CPAs
Over 20 years experience in tax, accounting and
technology
In 2008, Eric opened DEVRIESE & ASSOCIATES, a full
service CPA firm based on the coast in Northern Florida
and has been building something different ever since. It
has taken years of experience, knowledge, success and
failure to finally bring to life RealTime CPAs. A truly one
of a kind experience, that will soon be the way that
much of the industry will be run.
One of a kind CPA firm that provides clients with a Trusted Dental Advisor that
specializes in their industry.
As their CPA Trusted Dental Advisor, RealTime CPAs knows their clients, what they
do and how they do it.
Attend dental industry tradeshows and know their financial benchmarks and talk to
clients about what their peers are doing.
Works with clients to prepare bank reconciliations, run payroll, review current
financials and management reports that tell clients where they are and where they
need to be, comparing them to the dental industry and against their local peers.
Visit Realtimecpas.com to learn more
Agenda
Taking a Vertical/Niche Focus
Vertical/Niche Selection
Vertical/Niche Specialization
Vertical/Niche Marketing & Expansion
Case Study: RealTime CPAs
Getting Started
VERTICAL FOCUS
9
Vertical/Niche Market
A vertical market is a market in which vendors
(Accounting Professionals) offer goods and services
specific to an industry, trade, profession, or other group
of customers with specialized needs.
Getting Vertical Through the Cloud
Business
Intelligence
Reporting
Real-Time
Client
Collaboration
Standardized
Workflows
Client Accounting Capabilities
driven through cloud
computing
• Professional Services – 90%
• Construction – 76%
• Retail – 75%
• Not-for-Profit – 73%
• Manufacturing – 65%
• Wholesale Distribution – 61%
• Technology Companies – 59%
• Transportation – 48%
• Hospitality – 45%
• Franchises – 40%
• Government – 29%
Most Popular Client Verticals
for Outsourced Accounting Services
Vertical/Niche Focus Benefits
More specialization = More value
Acquire and build knowledge of industry specific challenges, speak
their language
More efficiently provide custom dashboards and benchmarking data
Act as an industry expert, provide more value (creates more margin)
More targeted marketing
Service opportunities grow
Vertical/Niche Focus - Client Needs
Clients are increasingly seeking advisors who have expertise in
their industry and understand their unique challenges
Understand and anticipate external market factors, business
information needs, and services required
No longer need to meet unique needs of each individual client,
can standardize and meet the needs of an entire market
VERTICAL SELECTION
14
The Why Fit
Passion, mission – the “why”
What is your firm most passionate
about?
Does the firm culture fit the vertical?
Tie into firm or personal “mission”
Existing Expertise Fit
Is there already expertise in this vertical?
Do you have existing clients in this
vertical?
Untapped expertise within your firm?
Market Assessment Fit
Big enough to matter
Small enough to lead
Marketplace penetration
Room for growth?
Can we make money at it?
Need overall market analysis
Client Needs Assessment
What is the key information they
need for success?
Develop “core” then expand
down to key KPI’s
Attain and build knowledge of
client best practices
Vertical/Niche Focus Concerns
How many different industries should we focus on?
What if we don’t feel that we are “experts” of any industry?
Do we turn away prospects that don’t fit our target market?
Aren’t we giving up potential business?
What if we already have clients from multiple industries?
What technology do we need?
VERTICAL MARKETING
20
Segmenting Your Market
Firms who have successfully identified and built their marketing
and services around industry verticals are able to get the most
from each marketing dollar by specifically targeting WHO they
need to reach and WHERE.
In the CAS practice, clients expect us to know more than they
know about how to win in THEIR industry in addition to ours. Firm
marketing materials should demonstrate that we “get it.”
Evolution of Client Accounting Services & Marketing
Client Advisory services have changed and so has marketing
o New technologies
o More options/channels to reach people
o More opportunities for engagement
Revamp marketing to align with new cloud technology you are using to
manage client processes
Information at prospective clients’ fingertips, doing a lot more research on
their own before they walk in the door o Information and positioning is critical – website, social media, emails,
advertisements
o Think about where else they will “see” you before you speak to them
• Firm Website & Email
• Social media – LinkedIn,
blog, YouTube, Twitter,
• Online advertising
• Mobile
Gmail/Yahoo/AOL email
Web site with brochure-type content
Minimal active firm marketing and networking
Use only traditional
channels for staff recruitment
OldTechnology
You can leap from old to
new technologies with
smart business
strategies and minimal
investment
How is Your Firm Changing?
Laying the Foundation
Branding and mission statement
o Do you have a firm identity and mission statement?
o Do all of your materials have a consistent look and feel?
Marketing plan should align with business goals
o If your goal is to reach $1mm in client accounting services business,
how are you going to get there? How will you generate interest with
new clients and existing?
o Start small – Outline 3 areas that you want to focus on for the year
Ex. Website (update CAS section), Social Media (Create Twitter handle
and post daily), Testimonials (Collect 2 client testimonials)
Laying the Foundation
Target marketing/segment marketing
o Defining what audience targeting based on the
niches that you serve
o Realizing that not everyone is the right fit
CAS services positioning/messaging
o Position yourself as an expert, a go to” solution
provider - clients will engage you because you
truly offer a market leading service
o Identify the areas businesses need help in or face
challenges – show that you can help
Developing the Message
Identifying and addressing pain points
Bullet point the 4 main pains in SHORT
sentences
o Form of a question (ex. Are you constantly
replacing bookkeepers in your office?)
o Specific to niche (calling out)
Positioning Your Services
Presenting the solution
Create easy to identify unique brand
o List out the services offered in consumer terms (not "AP
Management" but "Bill Pay Services" instead)
o Present in same order as pains
o Finish with a simple question (ex. Will you be where you want to
be in 5 years if nothing changes?)
Marketing Channels
Marketing mix – what should you focus on?
How should you allocate your budget?
o What are your goals?
o Brand awareness?
o Generate new business from existing clients?
o Adding new clients?
o Use different channels for campaigns
o Think about what your target audience engages with
Marketing Channels
Tradeshows Videos
Webinars
Case Studies
Whitepapers
Social
Media
Print &
Online
Advertising
Marketing Channels
Marketing
Automation
• Speak to business owners and staff, learn about their products & services
Connect with Owners
• Ask what systems they use, offer recommendations for issues, tell them you’re establishing a niche, get feedback
Establish a rapport
• Connect with them on social media and post comments
Give reviews and feedback
• Network at industry events, explore speaking opportunities
Attend Events
CASE STUDY
30
Key Takeaways
Select the vertical(s) to focus on
Build your marketing plan
Identify 1 or 2 key marketing initiatives to start with
Check out what other firm’s are doing
Explore resources
Contact your CPA.com strategic account manager
Roadmap for Profitably Moving Your Client Advisory Services Practice to the Cloud
San Mateo, CA: 1/20 – 1/21*Save $300 when you register by 12/22
Upcoming Workshops
Visit CPA.com/casworkshop for more information
QUESTIONS?
36
