Accounting & Bookkeeping & Small Business Forum

[benjonusa]

Hi guys. I worked very late last night; it was almost 1am when I finished. For some reason I couldn't sleep so I started playing with my own company’s numbers for a change (I know you do the same thing on occasion). I started measuring my marketing efforts against sales and my results surprised me. My mailing effort, which I do weekly no matter how good business is, was incredibly ineffective this year. It accounts for approximately 3.1% of my new business. Advertising is a little more at 4.7%. The local referral network I developed with attorneys and CPAs is adequate at 13.6%. Networking events is at 13.8%. The web was much better at 28% even. Cold calling and more cold calling and phone nurturing bounced ahead at 53.5%. All of the other areas of marketing I grouped into Miscellaneous which hit 9.7%. I’ll remind you that it was late and these numbers were thrown together for a rough guide (and piece of mind)!

What’s the reason for this post? I guess I am interested in how all of your efforts are paying off and from where? I spend at least 2 hours per day on the phone or on some other marketing effort (usually the phone). I, like most accountants hate selling. I hate cold calling even more. But in our case, the phone selling campaigns are how we make our largest profit margins. I’d love to hear how you guys are doing on the marketing front.

[jmac1]

I have found the web to be the most effective in my own. Mailings have been very expensive for me and yield very little return. I tried radio and unless you do it every week, it doesn't pay off for a while.

[rjbrielle]

I haven't tried advertising on the web yet, but what worked for me is through word of mouth. Even though I don't get every client that's referred to me...networking with CPAs is most effective especially if you give them some tax work. I've done mailings for a year and a half and I got no results from this. Any one who called because of my mailings usually are the clients you wouldn't want to work with.

[Monica]

Quote: I've done mailings for a year and a half and I got no results from this. Any one who called because of my mailings usually are the clients you wouldn't want to work with.

Hi rj,

You are probably an exception on your experience with the mailings. Where are you getting your prospects?

My responses generally are 10% on my mailings. I may have a week here and there where I do not get a response, but overall that is where many of my clients come from. As time goes by, you will start to pop in front of some of the same potential clients two or more times. This will eventually pay off, and when you are out meeting potential clients, pay attention to the grand opening banners in front of new businesses. I have gotten clients this way also.

Good luck.

Monica

[rjbrielle]

Hi Monica,

Yes, no luck with mailings. I buy my postcards and mailing lists from a company online. Postage aren't cheap either so it all adds up.

It's great that it works for you...Do you mail postcards or letters?

[Jennifer T]

benjonusa wrote: Hi guys. I worked very late last night; it was almost 1am when I finished. For some reason I couldn't sleep so I started playing with my own company’s numbers for a change (I know you do the same thing on occasion). I started measuring my marketing efforts against sales and my results surprised me. My mailing effort, which I do weekly no matter how good business is, was incredibly ineffective this year. It accounts for approximately 3.1% of my new business. Advertising is a little more at 4.7%. The local referral network I developed with attorneys and CPAs is adequate at 13.6%. Networking events is at 13.8%. The web was much better at 28% even. Cold calling and more cold calling and phone nurturing bounced ahead at 53.5%. All of the other areas of marketing I grouped into Miscellaneous which hit 9.7%. I’ll remind you that it was late and these numbers were thrown together for a rough guide (and piece of mind)!

What’s the reason for this post? I guess I am interested in how all of your efforts are paying off and from where? I spend at least 2 hours per day on the phone or on some other marketing effort (usually the phone). I, like most accountants hate selling. I hate cold calling even more. But in our case, the phone selling campaigns are how we make our largest profit margins. I’d love to hear how you guys are doing on the marketing front.

I've been very happy with the QB Referral database. It accounts for almost 80% of my business. I hardly do any other overt marketing anymore. I didn't have much luck with the mailings when I used them. But I don't think my letters were very good. I think good letters, consistently used, are probably a decent way to get clients. If I didn't have the QB database, I'd probably use letters, and would make sure they were really well done.

[Monica]

Hi rj,

I use the letters as advised by UAC. I would suggest using a local newspaper for your local prospects. Prescribe to a local small newspaper, depending on the state you are in, there is public info in there when businesses file for sales tax exemption or for other public information.

I am not sure what Jennifer is speaking about when she references QB database. That couldn't be cheap. But, I suppose if your sales are high because of it, then more power to her, but QB only gives the great benefits to QB Advisors, and even though I am an affiliate, I do not get these benefits.

Good luck.

Monica

[Richard Noot]

Monica wrote: Hi rj,

I use the letters as advised by UAC. I would suggest using a local newspaper for your local prospects. Prescribe to a local small newspaper, depending on the state you are in, there is public info in there when businesses file for sales tax exemption or for other public information.

I am not sure what Jennifer is speaking about when she references QB database. That couldn't be cheap. But, I suppose if your sales are high because of it, then more power to her, but QB only gives the great benefits to QB Advisors, and even though I am an affiliate, I do not get these benefits.

Good luck.

Monica

The answer is simple . Become a proadvisor any you will get the benefits