Any marketing effort needs to have goals. Otherwise, what’s the point, right?
Different marketing efforts will have different goals. For example, a new prospect lead generation campaign may aim for a specific number of new leads, at a goal of X dollars per lead. On the other hand, a direct mail sales letter sent later to these same leads will have a revenue goal for the campaign, as well as a revenue per prospect and revenue per sale goal.
As an accounting professional, you are likely used to thinking in terms of revenue per client only, either on a monthly or annual basis. You may even only be used to looking at average billings per hour, and comparing that to your actual hourly rate.
I’d like you to start thinking in broader terms.
To start with, look at each of your practice areas. Do you offer a broad range of services, but make 90% of your revenue from just two of the?
Take a look at your hourly billings from your various services. Do you make far more per hour from one or two activities than all of your others?
The reason I want you to look at these particular metrics is because it will tell you where best to focus your marketing efforts.
What if your highest dollar per hour activity isn’t the same thing as what brings in the most revenue? This is not an uncommon scenario. If these two activities are different, then you need to make some decisions. Once you have decided on the practice areas you are going to market, you need to look at revenue goals. We will discuss the revenue side more in the future.
If you’d like to take a trip down the rabbit hole of identifying and attracting IDEAL tax clients, take a gander at this video.