Stryde-TPP-RF8

Is the rainmaker model drying up?

Historically, firms relied on heavily on a single individual person to attract new clients and the majority of the business for the firm. The individual with the contacts would make the business “rain” on the firm, and was called a “rainmaker”. New approaches to marketing show the value and improvement of taking a team approach towards new prospects, over a single individual. The internet allows potential clients to make judgments about the firm before meeting anyone. Having a unified, coordinated team approach is the best way to win their business.

Key Takeaways:

  • Digital media is becoming increasingly significant in bringing in new clients to accounting firms.
  • The word-of-mouth recommendations of the firm are still very good leads, but in-person referrals are less common.
  • Marketers can work the digital presence in combination with the in-person referrals, for an effective, unified team approach.

“This new model is being embraced by an increasing number of accounting firms because it increases opportunities for developing new business within the firm.”

Read more: https://www.accountingtoday.com/opinion/is-the-rainmaker-model-drying-up

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