Every now and again you come across someone who’s simply streets ahead of the field. That’s why I am so pleased to introduce you to Martin Bissett. Although Martin is best known as a speaker and author, his core work is helping Accountancy firms, throughout Europe and the US, attract quality new clients.
Reputation is one thing but results are quite another. Over the last 18 years Martin has played a part in the acquisition of over £450m of GRF. Since first meeting Martin a couple of years ago I have referred a number of our clients to him. Without exception the feedback has been fantastic. Equally I have seen their confidence grow in line with their conversion rates – the number of meetings, on average, it takes to convert prospects to clients.
But they tell me the greatest outcome is the quality of the clients Martin has helped them win. Gone are the pain in the backside, fee driven, moaners. Replaced by high value, high margin, ideal clients.
To kick off this series of 7 new business winning tips, Martin explains the benefits and principles of building your prospect pipeline:
Accountancy Marketing: Building the Prospect Pipeline
By Martin Bissett
Winning new fees NOW becomes a lot easier, faster and time smart if we manage our prospective opportunities wisely.
Few of us in the accounting profession however, manage our prospects with the same attention to detail as we give to our WIP. What would happen to our new business growth though, if we did?
A sign of poor marketing is always an empty prospect pipeline. A sign of poor conversion ratio is a large pipeline of prospects with few wins to show for it and most commonly, we find that those listed in the pipeline have not been contacted for months and do not know when they will hear from us next.
The three critical elements that your pipeline of prospects should have is:
- Up to date information
- The next action for you to take regarding the prospective client in question
- A date, time and person assigned to implementing that next action
These steps, as an absolute bare minimum should be in place before we move towards implementing a more scientific approach to deploying chargeable time in the most cost-efficient and conversion-effective ways.
To Your Continued Success
Founder of the Upward Spiral Partnership
PS – If mastering the whole 11 steps to building, converting and refreshing a prospective client pipeline is a priority for you, they are available here in our Business Development On A Budget Coaching Club and Mentor Group along with all other pieces of the puzzle from proposal writing, to pricing, to professionally resolving client concerns and much more.