Firms typically focus their marketing on four basic strategies. Fifty percent of the time is spent growing and protecting current client base. Thirty percent of the time is spent developing and nurturing referral sources. Fifteen percent goes to attracting new customers while five percent goes for support services. By following CPA trend lines you can figure out how the pros are conducting business so you can follow best business practices for your firm. All the marketing info you need is here.
Key Takeaways:
- CPA practices, large and small, generally have four distinct disciplines that they spend time and money on.
- The growing and protecting of already existing clients gets the lion’s share, 50% of practice resources.
- Prospecting to potentially attract new clients comes in third, with 15% resource allocation.
“Here is how firms commonly spend their time on each discipline, or marketing activity:”
