What is your firm’s top priority for generation new business during this economic crisis?
Information obtained from the 2009 PCPS CPA Firm Top Issues Survey, firms of all sizes are overwhelmingly focusing on increasing service to existing clients and expanding relationships with spheres of influence.
According to the AICPA:
“When planning ways to generate new business in a bad economy, increasing service to existing clients was the top choice of virtually every firm segment. The one exception was firms with 21 or more professionals, which set a top priority on getting more team members involved in the marketing effort. The second choice for most firms was using their relationships with spheres of influence, which was chosen by about 25% of all firms with 10 or fewer professionals and 20% of all other firms.”
For additional information on the survey click here
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2 Comments
I have had a pretty good year so far, I’m sad to say. The worse the economy gets the more people come looking for me. But there really are opportunities in this situation if you know where to look for them. I’ve never posted here before, and I’m not in the business of link baiting so I’ll forgo linking to my blog, but I would suggest that now is a good time for a customer satisfaction survey. MAKE IT SHORT!!! This is a good way for your unhappy customers to bring problems to your attention without hostility or conflict, and more importantly, it gives your happy customers a chance to answer the last question… “Do you have any friends or business associates you feel our firm could help?”…
I agree with your thoughts here sir. It is the right time for innovative thinkers to capture market share. The other thing I often contemplate is how firms are positioning themselves now for when the economy rebounds. How will they be able to handle the influx of work? Is there a strategy in place?