Marketing

SELLING YOUR FISH IN 2020: How to communicate and market your services in the new decade

The new decade is here and with it comes an array of different marketing channels to sell products and services. In an era where you can get almost anything at the click of button, entrepreneurs are often left to wonder how they can stand out and what they can do to ‘sell their fish’ in the new decade? There are numerous different marketing and communication channels and methods that entrepreneurs can use to promote their products and services, but which one works best?

As Sir Richard Branson says, entrepreneurs need to take their business to where the conversation is happening. Chanell Kemp, reputation specialist at Reputation Matters, adds, “Our motto at Reputation Matters is to create businesses that people want to do business with.” Taking your business where the conversation is, is an excellent start, but how do you determine where that is? Which channels should you use to communicate your messages and how can entrepreneurs position themselves in an ever-changing market? According to Kemp, there are five crucial steps to take your business to the conversation in 2020.

Step one: Cultivate a clear vision: “A lack of a clear vision is like getting into a car with a blindfold on,” says Kemp. You need to know what it is you want to achieve and add as much detail as possible. Set yourself a big goal for the year ahead and break it down into smaller stepping stones of what you need to do each quarter in order to get to your big goal. Write down what you want to achieve, what you stand for as well as your brand promise and make sure it aligns with your vision.

Step two: Research: Research is the roadmap to your vision and it provides you with the crucial data and information you need in order to reach your goals you set out in step one, as well as defining and understanding your target audience. “Understanding exactly what makes your specific target audience tick, whether they are eight or 80, will enable you to know exactly what to communicate to whom, through the most effective channel of communication as well as the best time to do so. This means that you target your audience according to their specific needs, as opposed to a ‘spray and pray’ approach to try and reach everyone and ending up reaching no one,” continues Kemp.

Step three: Targeted messages: Once you know where you are going and you have gathered the facts, you can start creating messages for each target audience. “The way you communicate and explain something to your children differs from the way that you communicate with your grandmother. Why should this not apply to your marketing and communication messages as well?” says Kemp. Different genders, age groups and cultures should ideally have messages that are targeted at them and that speaks to them directly. As long as the brand promise remains the same and authentic, the messages can be shaped to appeal to different target markets.

Step four: Choosing the channels: The next step in taking your business to the conversation is to choose the correct channel to communicate to the different target audiences. Communication channels can include email, instant messages, social media, telephone calls, face to face meetings, or newsletters. During the research phase, entrepreneurs should also focus on determining which channels are the most effective channel when communicating with the different target audiences. “Utilising these different channels will ensure that your target audiences feel valued and they will know that you listened to their needs and preferences,” continues Kemp. It does not help to have a TikTok account just for the sake of it because it’s the latest fad, but it is never updated and your key audience hardly knows that it exists or what a hashtag is.

Step five: Build lasting relationships: In an era where computers and social media are dominating the way we communicate, it is important to realize that we are dealing with people. “Building interpersonal relationships, getting to know your clients and really caring for them, will differentiate you from being just another entrepreneur that communicates to the crowds. In order to really bring your business to the conversation, you need to listen to your customers. Listening is just as important as using the correct communication channels. Give your customers the opportunity to give you feedback, in turn closing the communication loop and building lasting relationships,” concludes Kemp.

Being connected by Jason Blumer, CEO at Thriveal

to the right circles is a recipe for CA business success

The small and medium-sized business sector is the lifeblood of every economy. Whether you are in the US, UK, Australia or South Africa, you will hear about the importance of nurturing small businesses.

One of the most rewarding elements of my work is that I get to connect with real firm owners with real firm issues relevant to each market. I am particularly excited to be in South Africa, to unpack unique South African business challenges, and work through real issues with real people in the trenches, so to speak.

It is an exciting time to be a certified public accountant (CPA) - the equivalent of a South African Chartered Accountant, or CA - with so much opportunity to be innovative and redefine how we do business. While each market around the world is different, there are certain fundamentals that CAs can take to heart to improve their businesses. With the right mindset and support, we can envisage a world where a small accounting business owner goes from surviving to thriving.

That is exactly why I founded the Thriveal CPA Network - to support firm owners as they learn how to become better business owners, lead with courage, experiment with innovations and change the lives of those they serve. Think about it, not only are CAs technicians, but they are entrepreneurs that have the potential to drive positive influence in the businesses they serve.

Entrepreneurship can, and does, take many forms. Many entrepreneurs have brilliant ideas, but often they hold onto the idea of the company remaining just how they imagined it. At some point, a company outgrows the founder. This is when the entrepreneur must let go of the company to allow it to become an entity all on its own. Especially at certain team sizes and client sizes, successful entrepreneurs eventually give up their own personal desires and allow the needs of a larger organisation to be met.

Humans first

As CAs, it is important to recognise that we are in the human-care business. We deliver services such as tax, accounting, and consulting, but essentially we are in the service of humans. Humans are often afraid, struggle in their businesses, and need someone to provide closer care for them while they lead their company.

If firm owners realised the impact they could have on business owners’ lives, then they could serve fewer clients, get closer to their clients, and price their services much higher.

Many entrepreneurs need to learn how to balance their vision and ideas with the execution of those ideas. Often, they struggle to understand how important it is to meet the needs of clients, instead of serving themselves in the business that they own. Businesses only exist because they provide some market value to the world.

CA businesses are not here to solely serve themselves. They must serve their clients, and thus CAs must learn to execute their ideas in a way that makes them valuable to the market they have chosen to serve.

If your head’s not in the cloud, it should be

Every firm should have adopted cloud computing by now. I’m not even sure that’s a trend anymore. It is a necessity to remain competitive. Cloud accounting software is a case in point. Automation of functions is not a luxury anymore. The world is being disrupted all around us and the only way business owners can stay ahead of the curve and keep their ideas creative and firms moving forward is if they can invest all their energy in the actual business of running their businesses.

Having issues such as security of data and compliance handled automatically also greatly reduces the burden on the entrepreneur. At the end of the day, our ideas and creativity are what become translated into our packages and offerings. These ideas need to be nourished.

Price the service not the hour

A trend around the world is pricing services instead of billing by the hour. In my experience and in my interactions with firms, this is becoming a more popular model of making money. However, the switch should be treated with due regard.

It takes a lot of skill to transform a firm to a value model, as opposed to selling on a transactional model. This means firm owners should be cautious and take the time to do it properly when converting their firms. Here, leaning on the experience of those that have successfully been along this path can save an owner headaches and having to navigate the change through trial and error.

Broader reach

Becoming a remote firm is also a trend, however, a business owner should consider this very carefully, and then tread lightly. It’s a difficult model to lead from a team cultural perspective, even though it does provide wider access to clients across broader geographies.

No one said running a firm was easy. I started my career working for a large multi-office firm in South Carolina in the US. When I took the leap to work for myself I knew that networks would be vital. As I travel and coach in diverse places, one fundamental fact rings true everywhere: being part of a community of connected practitioners, all at various stages in their careers and business journeys, is a very important ingredient in the recipe for success.