In a previous, blog I outlined the top three ways accountants can increase their fees, which are: cross-selling to existing clients; asking for referrals; and networking. In this blog, I suggest ways to get staff to generate new business using these three key marketing tools.
Are your staff happy to generate new business?
Not everyone in your firm will automatically think about bringing in new work or increasing fees. In most cases you need to have a conversation with them to ascertain their views and whether they are happy to go out and generate new business.
Business development is a very different skill-set to preparing accounts or calculating and submitting tax returns. For those that would find it too overwhelming, I wouldn’t force them into doing it. However, for anyone looking to develop their career and become partners, it is more than likely something which they will have to do.
For those that are happy to generate new business, you also need to find out if they would benefit from training and development activities that would hone their skills in sales conversations, networking and building rapport. However, like many other skill-sets, practice makes perfect. So the more times they can be encouraged to speak to clients, attend events etc, the more confident they will become and the more likely their conversations will lead to new enquiries and fees.
Review client contacts
In many cases, the key client contact lies with a partner. As a result any referrals the client makes, or opportunities raised to sell additional services, will automatically be picked up by the partner.
If you want your staff to start developing new fees, the simplest way to facilitate this is to start delegating client contacts to them. This way they will be able to maximise any referrals that are made. They will also work more closely with the client so can identify additional services they would benefit from. By being the main client contact they will have that conversation directly with the client and not just pass on the information to the partner.
As well as giving staff more responsibility and having direct contact with clients, it will also help them to build their confidence in a business development environment. The more they get to know the client, the more likely they are to ask clients for referrals.
Reminders about all your services and how you help clients
To help staff identify cross-selling opportunities with their clients, have regular update sessions to remind them of the full-service offering you provide. Also, share with them recent experiences of how clients have benefited from using other services. This could be a one-off exercise such as using the firm’s probate service. Or it could be the difference the client has found in the firm taking on the client’s payroll and how this has saved the client time, as well as given them peace of mind the payroll is being carried out accurately and on time.
Such stories can be communicated to all staff through regular staff meetings, an internal newsletter, an intranet, or simply on notice boards. The important thing is to do it regularly and celebrate success wherever possible so that it gives staff ideas on how to start conversations with clients and to turn those conversations into additional work.
Step away from the desk and out of the office!
For many people, this is the most terrifying aspect of bringing in new work. Walking into a room full of people you don’t know can be very daunting. But it does work. To help staff overcome their fears, I suggest they attend local business groups with other members of the firm to start off with. Providing they keep attending these meetings regularly, they will start talking and getting to know other people and so will build their confidence in developing conversations and networking.
Staff should research what networking events are happening near to them. The British Chambers of Commerce website is a good starting point for this.
They may also benefit from attending local workshops on improving their networking skills.
Our blog, ‘Networking Tips – Changing Your Mindset’ also gives some useful pointers on how to overcome their fears.
Staff shouldn’t just attend networking-specific events. A great way to build their own personal profile, as well as maintain the presence of the firm, is to attend other business-related events in the area. These may include business award ceremonies, trade association dinners, charity events, conferences and exhibitions.
Partners in the firm do not have to be the only ones to go out and generate new business. But if you want your staff to start taking on this role, you need to spend time developing their skills to make the transition to business development as seamless as possible.
For more information call me on 01822 833300 or email vicki@momentumforprofessionals.co.uk.
