The four essential components of a marketing mentality

Accountants who possess a strong marketing mentality are those who are constantly aware of their marketing strategies and firm reputation. These accountants understand the following and act accordingly:

Market share matters

In a marketplace where others are competing for your existing and potential clients, you must measure your success in terms of your market share. At the very least, accountants should strive to maintain their market share. But if a firm is to continually grow and not just survive, it should be constantly striving to increase the value of its market share.

The market consists only of existing and potential clients

The success or failure of your firm begins and ends with your clients and prospects, therefore all your firm’s decisions, plans and actions must be client-driven, not firm-driven. In other words, you need to think: ‘What does the client need, and how can we deliver it?’ rather than: ‘What do we want to do next?’

Maintaining and increasing market share depends upon delivering quality services

Quality service is the soil in which your firm grows. Do not become complacent, but review the quality of services on a regular basis. Solicit feedback from your clients, conduct internal reviews and consider peer reviews through one of the professional associations. In any event, always be on the lookout for ways to improve the quality of your service. And always remember that ‘quality service’ is ultimately defined by the client. No one else.

Successful marketing depends upon a firm-wide marketing culture

As with every other area of your firm, people matter in marketing. Marketing works only if everyone in the firm understands its importance and is committed to it. Your recruitment and training programs, therefore, must reflect the importance of marketing to your firm. Once your firm has committed to a marketing culture, it is importance to identify key characteristics of marketing-oriented accountants. Write these key characteristics down and use the list as you interview new candidates. Before scheduling the interview, you also could mention that your firm is committed to marketing and each person is expected to do their part.

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