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Unlocking Growth Webinar Recap: Strategies for a Modern Accounting Firm

By | Nov 1, 2023

In our recent webinar, Ellen Choi, COO of Aiwyn; Katie Tolin, Founder of CPA Growth Guides; and Tracy Kapteyn, Chief Growth Officer of Windes, got together to share some valuable insights into the strategies, challenges, and best practices for achieving growth in accounting firms. Let’s break down what they had to say.

1. Winning at Pricing:
Katie kicked things off by saying that focusing your pricing properly is crucial. But there’s no one-size-fits-all solution. You have to ask your clients and maybe even involve them in the pricing process. Try an iterative approach and keep experimenting – don’t just set your prices once and forget about it.

Tracy chimed in, saying that you need to understand that different clients have different needs. She suggested creating different packages for different types of clients. And don’t just rush into things – take your time and figure out what makes sense for each segment.

2. Data, Your Secret Weapon:
Ellen is all about the data. She highlighted that data is your best friend when it comes to growth. It gives you insight and tells a story. She noted that the key is having accurate and standardized data, so you can make informed decisions. Clean and tidy data is your secret sauce.

Katie and Tracy jumped in and backed up the idea. Katie stressed that getting your data right from the get-go is essential, and if you’re putting in the wrong data, you’re setting yourself up for failure. Tracy added that centralizing and integrating your data across departments is the way to go, especially for cross-selling and finding new growth opportunities.

3. Happy Clients, Happy Growth:
The chat repeatedly came back to one point: give your clients the best experience. According to Katie, delivering an exceptional client experience is how you keep your clients happy and coming back for more. To do that, you need a crystal-clear vision, an understanding of your clients, a streamlined client journey, and ways to measure it all.

Tracy talked about segmenting your clients based on what they need. No one-size-fits-all here either. Make your clients feel special and valued by offering tailored services to each segment. Just like Katie mentioned earlier, you don’t want to be the cheapest, nor the most expensive – aim for the middle.

4. Avoiding the Common Pitfalls:
Katie served up common pitfalls – making decisions based on your preferences rather than what your target clients want. Don’t forget, you’re not the client. Listen to their needs.

Tracy brought up the misconception that a single person should be driving growth. The smarter way? Spread the growth across your organization and let everyone contribute.

Ellen also pitched in with a solid point: many firms think they already know exactly what their clients want; listen to your clients’ feedback and stop assuming.

5. Tools for Growth:
When the conversation veered into tech solutions, Katie mentioned that the right tools depend on your firm’s size and needs. Microsoft Dynamics might be the big player for larger firms. Smaller to mid-sized folks might go with HubSpot CRM or Zoho CRM. HubSpot is the crowd-pleaser, particularly in the Association for Accounting Marketing.

Tracy underlined that tools should be easy to use and intuitive. HubSpot gets a shoutout for being user-friendly.

Ellen talked about a new integrated product with HubSpot CRM that we just announced called Relay connecting CRMs to Practice Management Systems. It’s all about the demand for that kind of integration in the accounting world for firms.

The webinar was a treasure trove of tips for making your accounting firm grow. They drove home the point that your pricing strategy should work with what your clients want. Data is your best friend for making smart decisions, but only if it’s clean and organized. Client happiness is the key to growth – make their experience exceptional. And don’t forget, it’s essential to sidestep common pitfalls and get the right tools for the job. Stay flexible, embrace change, and focus on making your clients’ journey as streamlined and productive as possible. That’s the way to sustainable growth in the accounting game.

For a more in-depth look at the conversation between Ellen, Katie, and Tracy, watch the on-demand webinar by clicking here.


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