The world of accounting is ever-changing. Clients' needs evolve, tax laws are rewritten, along with accounting standards. Not to mention that technology has made the accounting firm of today virtually unrecognizable from a firm of just two decades ago.
Is it Time to Re-Brand Your Accounting Firm?
With all of the above in mind, you may have been thinking along the lines of re-branding your accounting firm. Is your mission statement and value proposition behind the times? Are you looking to offer new services or expand into a new market? Or have you outgrown your original branding and need to renew your firm’s status in the market? Sometimes depending on the situation, a full re-brand is required. If re-branding your accounting firm is something you are considering, make use of these five tips to help make the re-branding of your accounting firm a big success:
There is never a right time
A serious re-branding when done right requires a significant investment of time, money and resources. From starting research to launching the new brand could take months or even years. The time to re-brand is when you are failing to reach your target market. Re-branding can help a perception problem when your target market is ignoring you or unaware of what you’re offering. In this case, there is no time like the present to get started.
Here are some reasons you might choose to move forward with a re-brand:
- Expansion of firm offerings: such as Service Expansion, Market Expansion, Geographic Expansion
- Merger or acquisition
- Evolving with the market
Give your brand a story
What makes your firm unique? Hint: it's not "service." Every accounting firm believes it's their service that sets them apart. By definition, if all accounting firms differentiate on the same point, it’s not differentiating anymore! Your excellent client service may help you retain existing clients, but service is not a unique selling position. How you deliver that service might be.
Really dig deep to discover the story of your brand. How do you work with clients? What is the history of your firm? What is your corporate mission? Does your branding represent what your firm does? Why do they choose to work with you rather than every other firm in town that promises excellent client service? If you have a unique founder, this can be a good place to start. People want to work with brands that have something to say. If your brand isn't saying anything, why would anyone listen?
Get your whole team involved
The work of re-branding your accounting firm should not be solely the purview of the partner group or your firm's marketing department. Get everyone involved in the process. Your team can provide insight on what sets your firm apart from the competition and the qualities and characteristics they want people to think of when they hear the firm’s name.
Millennials can be particularly useful in this process. Millennials are the largest group of consumers in the US, and they highly value authenticity. Will your brand story appeal to Millennials or will they spot a dishonest brand a mile away? Run your ideas by them and by employees at all levels within the firm. Making them a part of the process will go a long way towards securing their buy-in on the changes you are trying to make.
Make sure everything is consistent
When was the last time a new client found you via a phone book? It's likely been several years. But chances are many clients find you or check you out via the firm’s website. Make sure your website is not an afterthought of the re-branding process. Your website should integrate with every other aspect of the brand and client experience, including:
- Logos
- Client portal
- Marketing collateral
- Social media sites
- Email signatures
- Advertising
- Promotional material, etc.
Launch the new brand strategically
Once you have some new logo branded gear in your hands, it's tempting to want to start showing off all of the work you just put into re-branding, but now is not the time to act without a strategy. Plan and communicate your new branding strategy with your team. Remember that this is not a one-day plan, but an ongoing process that will continue for months after your launch day. Look at your re-branding like an internal process that will change how your firm is externally viewed.
Make sure everyone in the firm is on board with the new changes, and turn them into your brand ambassadors. Do they know your brand story? Can they communicate it effectively or will they still deliver the same old elevator pitch? Get your team on board by sharing the new “story of us.” Let them take ownership of the new brand and help you spread the excitement and the message.
Re-branding any kind of firm is not for the faint of heart, but neither is it something to be avoided. Take this opportunity to tell a new story, generate excitement, and rally your team around the brand. Once you’ve built your new brand, be consistent and persistent. If you want to be successful at re-branding your accounting firm, follow the strategies above and commit to the changes. Become that new brand!
Leave a reply