Today, I’d like to talk to you a little bit about why some accounting firms charge a thousand pounds a year for their services while others are charging a thousand pounds a month.

One of the things that makes a huge difference for the success of accounting firms is their ability to attract those high-value clients versus working with clients that leave you exhausted, they want their pound of flesh, and they don’t understand the value that you as an accounting firm can provide them.

I’m going to share with you today three things that you can do and implement that will make a huge difference when it comes to attracting those high-value clients. The first thing is that you need to differentiate yourself in the marketplace by having what we call a specialism or a niche. Now, a specialism or a niche enables you to become a master at your ideal client’s problems. When you understand your ideal client’s problems better than they understand them themselves, you are able to actually ask them for money to help them overcome those problems. They are very willing to pay you money to help them overcome those problems because they can’t do it themselves.

Now, if you actually have low-value products and low-value services and you are not providing the value to these ideal clients that you want, then they are only going to see you as that accountant that does compliance work. You need to pick a niche. You need to differentiate yourself by specialising, and you need to provide more than compliance work. Now, they’re the three things that you need to be focusing on, but there’s one more thing that will make a huge difference to you.

For years and years and years, accounting firms have been marketing their services in exactly the same way as the accounting firm that is two doors down from them in the high street.

What they do is they have a very boring website that says the generic same wording as every other accounting firm and they do not stand out from the crowd. Something that you can do over the next few months is think about your brand and how you show up in the marketplace. What can you do to stop yourself looking like a traditional accounting firm to help convey the value in your marketing and actually show up differently from every other accounting firm in your high street or in your chosen niche so that you attract those high-value clients.

Your mission is to do those four things, niche or have a specialism, attract high-value clients by understanding your client’s pains more than they understand them themselves, and make sure that you differentiate yourself in the marketplace by working on your brand and standing out from the crowd. Hope this has been helpful for you.

If you would like to share this with any of your colleagues or if you know of an accounting firm partner that is really frustrated with attracting the wrong clients, if they’re working too hard in tax season and they would just like their life to change, then please do share this video with them.