Capstone Marketing Blog, Marketing

How to Identify Your CPA Firm’s Niche Specialties

The fifth in a series of blog posts based upon The 90-Day Marketing Plan for CPA Firms: How to Create the Roadmap for Your Firm’s Growth.

Niche marketing is the most successful strategy for CPA firm growth.  In fact, our SevenKeys CPA research tells us that leaders are four times more likely to target niches. In week five of The 90-Day Marketing Plan for CPA Firms you will determine your firm’s potential niche specialties and conduct more research to gauge the viability of each specialty.

How do you identify your niche specialties? Here is a chart to help you. When completing it be sure to bundle client groups together. If a client operates five real estate partnerships, for example, count it as one client, not five. This will give you more accurate data.

Industry Niche Chart

 

For each industry category (the industries shown here are examples and may be different depending on your firm), there is information down the left column to track.  This information tells you not only the number of clients, average fee per client, what percentage of your client base that industry represents, but your realization. Are you making money? What’s the description of that industry specialty?

When you need to describe the types of new business that you’re looking for, go back to this chart. You’ll be able to be very specific about the types of new business that you’re looking for, which will make your marketing efforts more successful.

Want to learn more about The 90-Day Marketing Plan process? Click here today!