3 Tips on Standing Out in a Competitive Market
Some business owners are happy to run with the pack, staying neck-in-neck with the competition. Unfortunately, winning businesses do more than keep up; they stand out, they lead, they become the premier accounting firms in their area.
If you would like to stand out in a competitive market, you must take steps to distinguish your services from other accounting firms. As you market your services you must emphasize what makes you different, unique, unusual. How do you do that? These three steps will help.
1. Study the Competition
Whether or not you like it, you are competing with other accountants for clients. You offer similar services to a shared target market which means you are one of many options from which that target market can choose.
In order to be a good competitor you must know your competition. How does the competition market their services? What benefits do they offer? To which demographic are they marketing? Are their marketing approaches affective? You must answer all these questions and more by performing simple research.
First, determine which of the accountants in the area are prominent. Then study their marketing strategies. Talk with colleagues and other professionals to see which of these competitors are getting rave reviews and determine why their services are most popular.
2. Determine Your Competitive Advantage
Once you’ve studied the competition, you can see how you measure up. In order to stand out, you must first determine what sets you apart. Reflect on the services you offer and what makes them valuable.
Ask yourself the following questions: Do you have a specialty or focus that would add value to your services? Have you received professional certification or recognition for your work? Can you offer financial consultations that would appeal to potential clients? Do you offer complementary services that would benefit your target market?
It’s important that you note these things that distinguish you from the competition. This is no time to be humble or modest-you offer valuable services and determining what makes them unique and noteworthy will enable you to achieve true success.
3. Market Your Strengths
Now that you know what sets you apart you must accentuate these characteristics in your marketing materials. You don’t want your promotions to sound cliché and familiar. They must be unique. Most of this will be easily accomplished with your new and improved marketing message.
In order to test this new approach, run a trial campaign so you can analyze its effectiveness. If it doesn’t grow your clientele, tweak your message until it does. Once you see success you can incorporate this new approach in all your marketing materials.
Marketing doesn’t have to be difficult. When you know a handful of effective marketing techniques like this one you can easily get your practice to stand out and lead the competition.
For this and more marketing strategies designed to help you get and keep clients, watch our video “The Art and Science of Getting Clients.” For less than $10 you can add this valuable DVD to your professional library, or you can watch it online for free! In less than 20 minutes you could be on the path to improved marketing success. Do it now, and watch your accounting practice grow!