Are you selling Accounting services or are you selling that fact that you’re helping people achieve their goals in life? If I look at your website or listen to one of your sales meetings my guess is that you’re (80/20 rule generalising here) selling Accounting services. My guess is your website has ‘drop down’ categories…
I have been fortunate to be a sales professional for 28 years. I continue to attend sales training programs but more importantly I am selling every single day. I love sales and I think I am REALLY good sales professional. Here is my bullet point list of what I think are the most important keys…
Once you have clients on cloud accounting you have an amazing opportunity to add value to the numbers. On the old system (hard drive based systems) you might not get the clients financial data until 6, 12 or 18 months after the fact. It’s very hard to offer real value when the data is so…
We teach a 12 step (sales) meeting process to Accountants. If followed to the letter then a conversion rate (enquiry to sale ratio) will be around 80% – in a short time period (say less than 60 days).
Before we teach this tried and tested method we hear things like:
“I had a great meeting – they will definitely be a client”
“I met this potential client and I get the feeling they want to be a client of ours”
“I met the general manager of this business and they want to switch to us”
“I am so pumped – this prospective client is worth at least $50K per year to the firm”
“I met this person at a networking function and they moaned about their current Accountant – they are ready to join us”
It’s all rubbish. Unless you have a proper ‘pipeline management’ system and structured meeting system you are simply going on gut feel. Not good enough for forecasting new revenue!
If you have all the buyers in the meeting, you purposely develop a relationship, you understand the background of the situation, you find out their clear objectives, you attach measurement milestones to achieving them and you understand the value you bring to the table then you might just have a chance of winning the business and accurately projecting your conversion rate.
First you need to monitor what it is now. Based on an enquiry received (by whatever means), what percentage do you close in a reasonable time frame?
If you have a high conversion rate now based on limited sales skills or process then you are probably not charging enough.
If you charge appropriately based on value and you follow our meeting process then you should be at 75% or more.
I have written an extensive report on Accounting firm performance. You can download the full report here.
Enjoy video # 9.