Client Loyalty Programs

Client Loyalty Programs: A Sure-Fire Way to Increase Client Retention Rates Client retention is extremely important! The loss of even one client can significantly impact an accounting firm. One of the most successful tools for an accounting firm looking to increase client retention is a loyalty program. What better way to keep clients happy than to reward them for their business? Existing clients are quite an asset–research shows that it costs 16 times more to bring a new client up to the same level of profitability as an existing client, and it costs 500% more to acquire new clients than
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Tips For Managing Relationships with Your Clients As Your Business Grows

Be The Best At Managing Your Clients Many accountants know that good customer service is important for their business. They know that it is very important to build a good relationship with their clients. They want to make their clients feel like their friends. However, this is not always as easy as it sounds, especially when you start to really build your business. It can get overwhelming as your business grows.   Here are some tips for managing those relationships as your business grows. Keep a daily calendar of things that need to be done. Many accountants need a daily
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The Importance of Practice Management for Accounting Firms [Part 2]

Value in Practice Management  Business development – If everything goes as planned, your accounting firm will grow and evolve over time. There is a whole new set of problems associated with this growth, but it can be managed and used to thrive. As you grow, you’ll begin to experience more competition: pricing, services, client management and retention, and so on. Be prepared to step up your game; with the new challenges comes great rewards. Other possible problems with growth are building size and accessibility. Will you have enough room to handle the increased inflow and outflow of clients and employees?
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The Importance of Practice Management for Accounting Firms [Part 1]

Practice Management Should not be Ignored Practice management, in a broad sense, is the use of systems and procedures to efficiently address business issues and requirements. While the main purpose of an accounting firm is to provide accounting services, it is still a business. All businesses require customers, supplies, networking, marketing, procedures, strategies, hiring policies, and more. The importance of practice management is to focus on the business-side of an accounting firm. Overarching business decisions are what practice management is about. In order for the accountants to do accounting, the business needs to be managed properly. An accountant isn’t typically
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A Social Media Presence for Your Accounting Practice

Why Social Media is Needed for Your Accounting Practice. If your business has a web presence but nobody finds it, does it have a web presence? It’s the new philosophical question for the age, but unless you are in the business of philosophy, it may not be so funny.  Even though the medium has changed, you still have to have something which draws new clients to you. People may seek your business when they look in a search engine for a business of your type, but word of mouth, popularity and impulse clicking can be so much more valuable. Let’s
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