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FW: More insights, tricks and tips for accountants: The Magic of Success



From: Mark Lee []
Sent: 12 September 2017 10:32
Subject: More insights, tricks and tips for accountants: The Magic of Success


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Hi Friend

In this week's Magic of Success for accountants you'll find:

  • You may not be dynamic - but your fees could be

  • The downsides of a consistent brand ;-)

  • Using simple magic words to guide your prospects

  • What can you learn from client complaints?

  • Another example of how to STAND OUT effectively

And a link to my recent blog post re who you really need to STAND OUT from.


The common challenge of price vs value

The Times reported on Saturday that they had been monitoring the prices on Amazon and that one product changed price 300 times in a year.

The report recognises that Amazon's use of 'dynamic pricing' makes good business sense. And that canny market traders have played this game for years.

Indeed we understand the need to pay more for certain things at different times of the year. Holidays in the summer, turkeys at Christmas and umbrellas in the rain.

Dynamic pricing reflects what we learned as the simple law of 'supply and demand'.

This is another version of the value based billing argument. There is rarely a consistent and fixed going rate for accountancy services. So it can be perfectly reasonable to charge different clients different amounts for what you might consider to be a similar service. But to the clients it could be worth something quite different.

Tip: Remember that you are NOT selling your time (usually). Clients want a service, a solution and satisfaction. What they will gladly pay their accountant will depend on their needs, their priorities and their situation. AND how you relate your services and approach to satisfying them.


Made me smile

The practice manager of an accountancy firm who first heard me speak a few years back says that she and a colleague both receive my emails and often talk about how "we can apply what Bookmarklee is saying today".

I know others who also think of me as 'Bookmarklee' and this is helped by my bookmark shaped business cards. It seems to aid memorability - which is the idea fo course.

The other day I even received an email that started: Dear Book !!


Magic words - Keep it simple

This week I offer you an example of the power of a simple message.

Walking through Marlow my wife spotted this sign outside an independent cafe shop. It spoke to her so we went in and had a coffee. And we told the owner that it was his sign that had attracted us inside.

Could you encourage the visitors to your website to get in touch using a similarly simple and direct message?

Related blog post:

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Tips and tricks - We can learn from complaints

The client (or ex-client) isn't always right. But it can help to listen objectively when you receive a complaint or when a client explains why they have moved to another accountant.

If that never happens but you want to know what really matters to clients, you can use google to find what complaints people have about accountants. Then you can aim to cover these off in your marketing messages and on your website. This will help to differentiate your service from those common complaints.

Related blog posts:


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A STAND OUT example - Now that's what I call niche!

Paul Sutton isn't an accountant. He's a corporate lawyer and runs LCN Legal. But that's not what he says when people ask what he does. All of his marketing messages I have seen and his monthly (hard copy) newsletter are clear. His practice is focused on advising on intercompany agreements re transfer pricing. Now that's what I call niche!

Paul is a great example of a professional who knows how to STAND OUT by consistently referencing his expertise and specialist focus.

In fact, LCN Legal does more than work on intercompany agreements re transfer pricing.

The home page of their website explains that the firm specialises in creating and simplifying corporate and investment structures. This is still niche but it's less distinct and memorable than their primary focus.

If you simply talk about being an accountant and that you have a range of clients across various sectors you won't STAND OUT. And if you don't STAND OUT you won't get as many referrals as those who do.


On the blog

In last week's blog post I asked the question: Who do you need to STAND OUT from? The answer is not what you might expect. Understanding this issue can make it much easier to hone your business messages, your marketing, your networking and your social media activity. You can read the blog post here >>>


Think on these things...

...and enjoy the rest of the week.

If you want to discuss anything in this email, on my blog, or from one of my talks, please pick a time that suits us both via this link >>>

I'd also love to get your feedback by email or phone as to what you liked or didn't like in this missive, any ideas you have for a better name than 'Magic of Success', and your requests or suggestions for future issues.


Mark Lee FCA

Speaker, Mentor and Treasurer of The Magic Circle

Ps: Could I help you with the Magic of Success? My special focus is sole practitioner accountants who want more clients, profits, time and satisfaction. Which of these 4 approaches suits you best? >>>

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Mark's personal website, LinkedIn and Twitter name are all: BookMarkLee
He speaks at conferences, events and away days for accountancy firms and associations. Beyond this he works almost exclusively with sole practitioner accountants.



BML PO Box 562 Pinner, Harrow HA5 9FW United Kingdom 0845 0038780

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