Why Marketing is So Important and How to Get Started - Part 1

marketing Aug 01, 2021

 

Accountants and Bookkeepers find marketing so, so difficult. Over the next two blog posts I’ll share with you some of the questions that I get asked the most frequently surrounding marketing, as well as my answers to them.

 

What are the obstacles to marketing?

There are 3 main obstacles that we need to overcome in order to unlock the power of marketing:

  1. Lack of knowledge – As accountants and bookkeepers, we’re not taught marketing. We’re taught the technical skills for becoming an accountant, but not marketing. So, we need to acquire the knowledge as marketing is the most important function for any business. Without marketing we don’t have a business! Marketing is so critically important; it’s what differentiates us from everybody else.
  2. Lack of interest – Marketing is so important, but as trained accountants it’s not our primary interest. We have to overcome that and become fascinated with marketing.
  3. Too busy – So...
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Video VS. Live: Why Going Live is SO Powerful

marketing Jul 25, 2021

Historically, we have tended to do everything with our clients on a one-to-one basis. However, in the past few years, the world has changed massively. We’re increasingly moving online rather than meeting face-to-face, and this opens up new opportunities for scaling this process and delivering value one-to-many.

 

In the last blog post I took you through 9 different ways you can utilise video so that you increase your value and come across as the expert. Now, I want to take that a step further and think about the benefits of going LIVE. That is, the benefits of webinars and live streams to social media.

 

Video is great for so many reasons, and there are so many ways that you can use video to build value. But going live is even better still.

 

Scaling one-to-many

 

With live streams and webinars, you can reach a much wider audience than typical one-to-one communication with clients. If you have an update about your work, let your clients know...

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9 Different Types of Video to Make You Stand Out Online

marketing Jul 18, 2021

In the past year and a half, the world has changed massively. We’re not having as many face-to-face meetings and interactions. Instead, the need to stand out and communicate with confidence online is rising as our interactions increasingly move online. And this online world isn’t going away. So, we have to learn to adapt so that we can be seen as the experts in our field and stand out from the competition in this new online world.

 

In the last blog post, I covered 7 key areas for better communication in the online world. Now that you know the basic standards for creating online content, I want to share with you the 9 different kinds of video that you can utilise to stand out online and position yourself as the expert.

 

Why video?

 

You may already know that video marketing is one of the most powerful forms of marketing, particularly in this profession. That’s because we’re in the people industry. The reason your clients buy from you is...

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7 Key Tips For Better Communication in the Online World

In the past year and a half, the world has changed massively. You’re probably finding right now that you’re not having many face-to-face meetings. You’re having meetings over Zoom, or on Microsoft Teams. And this situation isn’t going to change in a hurry, this online world isn’t going away. So, we have to learn to adapt so that we can be seen as the experts in our field and stand out from the competition in this new online world.

 

In the last blog post, I explained the Power of Context – how the way that you present yourself online affects how much clients are willing to pay you. Now, I want to share with you 7 essential tips for improving how you communicate online. By improving these factors, you play into the Power of Context concept, supporting your expert positioning so your clients see your value and pay you more – pay you what you deserve.

 

I recommend going through each of these 7 factors and scoring yourself from...

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How to Bring the Power of Context to the Online World

In 1983, behavioural economist Richard Thaler did an interesting experiment involving beer. Thaler had a group of people in the study, and essentially, he wanted to find out how much they were prepared to pay for a particular bottle of beer. The product was the same for everybody, it never changed, the only thing that changed was the way it was sold.

Thaler found that people were willing to pay a very different price depending on where and how the product was sold. This is called the Power of Context. If the beer is being sold in a messy corner shop, stacked in a dusty corner, people are willing to pay a much lower price for it than if they bought the exact same beer next door in a hotel bar, cold from the refrigerator. Likewise, they would pay more for the cold beer on a hot day than a cold one, sometimes even 2 or 3 times the price! Simply changing the context in which you are selling can raise prices.

Another study in 2002 from price psychologists Adaval and Monroe tested this...

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The 3 Big Pricing Mistakes Accountants are Making in 2021

accounting value pricing Apr 21, 2021

 Accountants struggle with pricing!

It’s not their fault… pricing is hard.

When I am helping members of the Value Pricing Academy there 3 things that keep coming up over and over again.  3 things we need to fix.

Let me share with you those 3 big mistakes in this blog post.  However, if you want the full analysis, check out this video on my YouTube channel.

 

 

 

Read on for the summary points or click here to watch the full video.

 

Mistake #1

You are still pricing too low!

2020 was a big shock to the economy with the emergence of COVID-19, lockdowns and travel restrictions.  Many of your clients have struggled.  Many business owners have had to shut their doors.

And things are still tough in 2021.  Arguably tougher, as businesses have to pay back the loans and tax deferrals.

When clients are struggling there is a natural tendency to want to help by keeping prices low.  The trouble is that’s not really...

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How to Show Your Clients You Care About Them

As a professional, it is your responsibility to help your clients in as many ways as you can and deliver as much value as possible. You do that by spending time thinking about them.

Imagine you’ve already done all your thinking and you’ve come up with 5 great ideas to help your client – let’s call them Mary. What do you do now…

You can watch the video here.

 

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Which of your ideas is the best? What could it be worth to the client? Can you put a number on it? 

Perhaps you can help save them $50,000 in tax, or you might be able to help them get an extra $20,000 in their overdraft if they are struggling for cash. It could be you implement some technology that helps save 30 hours of admin work a week…

 

Contact the client

Once you have your top ideas ready, contact Mary. 

You could email, but a phone call would work better. Here’s what you might say…

“Hi Mary! I’ve been thinking about you and your...

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Deliver More Value by THINKING About Your Clients!!

Let me ask you a question…

Would you agree that adding as much value to our clients as possible is the right thing to do?

Now, let me ask you another question…

When you add immense value to your clients and change their business and their lives, do you deserve to get better paid for that?

I’m seriously hoping your answer was a resounding YES to both! 

In the accounting profession, you hold your clients’ businesses in your hands – their livelihoods, their passion. You have the power to make a huge difference to their lives by helping them to build a better, more profitable business.

Accountants and bookkeepers do amazing work, and you deserve to be paid well for it!

When you price based on the value you deliver, it’s a win-win situation. Your clients get more value, and you get a better price.

That’s what value pricing is all about.

Find out more in the video here.

 

We are in the knowledge industry

The reason our clients come to...

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7 Most Common Scope Creep Examples

Scope is creep is probably one of your biggest costs, but it can be totally invisible!

You need to be able to spot scope creep when it is happening so that you can address it and adjust your price accordingly. You should never have to make a loss on a job.

Here are 7 common examples of scope creep to look out for…

You can watch the video here.

 

#1 – Wrong information

When the client gives you corrupt data, or they haven’t given you the data in the format you wanted, that is a scope issue.

 At the outset of the project, you should build into your proposal or fixed price agreement very clear instructions on how you need to receive the data, and also what will happen if those conditions are not met.

 

#2 – Not getting all the information at once 

This used to happen to me all the time! Clients would drop off their books and records – and in those days, back before cloud technology, it was all held together in a paper bag!

I’d...

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How to Manage Scope Creep

When projects end up taking longer than you expect, you end up making losses on the job.

How do you solve that?

I’m going to share with you a 7-step framework to stop you suffering from scope creep ever again. 

You can watch the video here.

 

 

Step 1 – Building Awareness

Have you ever got to the end of a project, produced a work in progress report and realised you spent way more time on a project than you initially thought you would, but have no idea why?

You end up having to write time off to make sure the client will pay your bill – you end up making a loss.

You need to become more aware of scope creep and be able to spot when it is happening. If you know what to look for, you can identify scope creep and deal with it before it becomes an issue and costs you money.

 

Step 2 – Be clear on the outcome 

You should deal with scope right at the outset of the project. You should discuss it in the pricing conversation. 

Be really...

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