In the accounting industry, direct mail marketing can be very profitable. CPAs and accountants are lucky to be in an industry where they can purchase a database that provides accurate information on leads. This makes direct mail marketing a very profitable approach to developing new customers.
The first thing a CPA Accountant will need to do is purchase a list of companies that meet the criteria a CPA Accountant sets out to qualify a client for their company. There are many criteria that a CPA Accountant can choose from, but the most common are location, number of employees, sales volume, and industry. Some listing companies will even provide limited credit information. It’s usually best to select the locations closest to your office. Most compiler companies use postal code databases to establish locations. Consequently, the CPA Accountant should start by providing the ZIP code of their office that they work in a radius outward until they reach the desired number of companies on the list.
Once the criteria is set, the Accountant is now ready to purchase a database. Info USA and Dunn & Brad Street are perhaps two of the largest companies that collect and sell database information for resale. It is recommended to purchase the list from one of these two companies. They are reliable and have been in business a long time. Unfortunately, there are many companies that sell listing information that is unreliable and has high error rates. Many other companies are basically listing brokers who bought a listing in bulk from one of those two companies and then resold it to you. It makes sense to always buy your list from a database compiler company, which has a proven track record.
With the purchased list, the accountant now has a defined target market of potential businesses that could be good clients for his firm. Direct mailing to the defined target is cost effective. The CPA Accountant does not incur marketing costs outside of their target market. Radio, television and newspapers broadcast or publish to the general public. Advertising in these forms of media would subject the CPA Accountant to incur communication costs outside of their target market. Direct mail focuses the cost of communication to your defined target market.
There are three basic rules that the CPA Accountant must follow in direct mail marketing. The first rule is to always use professional letterhead and envelopes. Many times Accountants generate their own business stationery “in-house” giving it a “homemade look”. The CPA direct mail piece is the first representation of your company’s work that a potential customer can experience. The CPA wants their marketing piece to be of the highest quality. A direct mail marketing letter from a CPA Accountant appearing professional to a profession or business will open, whereas a low grade appearance letter is often simply discarded.
The second rule is to never use bulk mail or mailing labels. When spam is received, the business owner will look at it and make a decision. Does this look like something he or she should open? The decision is then based on the visible attributes of the CPA direct marketing envelope labeling. If the envelope was labeled with a preprinted mailing label accompanied by a bulk mailing stamp, the letter will most likely never be opened and thrown away. However, if the Accountant directly labeled the postage-paid envelope using a regular or metered first-class stamp, the envelope will appear to be a significant influence on the decision to open the letter.
After the business owner decides to open the Accountant’s letter, he or she will always scan the piece to quickly discern if it is of interest. The third rule is to always keep your letter short and to the point. The prospective customer will quickly determine if it is interesting and short enough to read without taking up a lot of time. A common mistake CPA accountants make is trying to write long letters to “sell themselves.” This is a very costly mistake. The purpose of the letter is to initiate a positive response. Once a prospective client responds positively, you will be given the opportunity to convey those things in subsequent conversations and meetings, prompting them to use the CPA Accountant’s services.
In addition to the three basic rules, it is always recommended that the CPA Accountant include a business card with the direct mail letter. This will allow the prospect to locate the CPA Accountant’s contact information and retain it for future reference. It is also recommended that the CPA Accountant refrain from using postcards in direct mail marketing for the accounting industry. They have a merchandise appearance that diminishes the CPA Accountant’s perception of the quality of the firm. Finally, whenever possible, use industry-specific direct mail pieces.
In short, direct mail marketing for CPA accountants can be very profitable. Using target markets avoids spending advertising dollars outside of the target audience. It’s important to always follow the three basic rules for direct mail marketing for CPAs and accountants. The costs of violating those rules can be enormous. Marketing to CPA accountants doesn’t have to be expensive, but it can be very profitable if implemented correctly.