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Back to Basics: Why It's Hard to Get New Business Right Now and What You Can Do

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It hasn't been easy for some companies - accounting practices as well as their clients - to grow their businesses this year. You can blame it on the economy, which you can't do much about.

Or you can look at it from another, more powerful angle, where you have more control over the outcome.

The key to building growth in any economy is to build trust with prospects - and that includes your existing clients. It takes patience, persistence, and repetition, especially if you've made mistakes in the past.

From Six Touches to More Than Twenty

Two factors are causing many businesses to boost their marketing efforts:

1. The number of messages has increased dramatically. Have you ever followed up with prospects and found that they didn't see your email or don't remember you? One Internet marketer's personal statistics shows it takes nine communications for a prospect to even see and read the message and 27 or more to make a multi-thousand dollar purchase.
2. Trust in the United States has dropped several percentage points, according to research cited in Stephen M.R. Covey's book, The Speed of Trust. People are delaying decisions and taking longer to trust vendors.

You can increase the frequency of your messages, but I believe there is a more effective solution. Instead of tripling your existing communications, and further flooding prospects with your email or other marketing materials, let's take a look at how to make every single interaction count as a trust-builder for the long term.

Here are some tips on how to build trust with clients and prospects in your business.

Relationships Built on Integrity

It's time to bring the traditional accounting values of honesty, integrity, and authenticity to the forefront in your business.

As you read this article, you may nod your head, saying to yourself, "I already know this." However, knowing isn't doing. The critical questions are whether you are doing anything specific to highlighting those value, and if you are doing them 100 percent of the time.

Your Own Critical Question. As you read this article, ask yourself, "Where can I improve with this suggestion?" It takes a little more work, but the payoff will be higher.

Here's How

You can demonstrate your company's commitment to honesty, integrity, and authenticity in the way you talk with clients and prospects.

• Do what you say you are going to do. Be straight in your communications and actions about what you can deliver and what you can't deliver. If you say you'll call on Monday, do it. Don't wait until Tuesday. If you can't call on Monday, don't promise it.

  These innocent little missteps erode trust over time. When people learn they can count on you, they begin to trust you and correspondingly will begin to think about doing business with you. Ask yourself honestly whether you are doing what you say you're going to do -- to the letter -- and if not, clean up your act.

• Listen to clients' and prospects' concerns. Outstanding businesses anticipate clients' undisclosed concerns by asking probing questions. Most clients are so uncomfortable discussing criticism that they won't say anything if they're unhappy; they'll just leave.

  To avoid client attrition surprises, be proactive. Bring it out of them by asking open-ended questions such as, "Is there anything we can improve in the way we perform our services?" Ask them three times to be sure they are not holding back on you. Then listen without making excuses, take notes, and thank them.

• Fix any problems that are reported. Do this through sincere action as well as communication. You may need to practice humility at times. Humility is one of those amazing traits where you might feel like you are giving away all your power. But in fact, you are gaining power, respect, and loyalty from your clients the more times you practice it.
   
• Practice trust. Trust your clients, but more importantly, trust yourself by showing up authentically at work. Many accountants wear a "shell" at work to cover their "real" personalities. This is exhausting. Clients can see right through this mask these days.People are just too smart, and will get a gut feel that something is off. If you feel like this may be you, look for some resources on authenticity or consider getting a coach to help you master this skill.

In Conclusion: Back to Basics

The foundation of all marketing and business-building is the relationship between the client and the accountant. Build your business fastest by focusing on building relationships with trust.

For more on how to build a high-trust organization, consider reading Stephen Covey's latest book, The Speed of Trust.

Sandi Smith, CPA, coaches CPAs and other accounting professionals on how to succeed in business. She is a frequent contributor to Intuit ProConnection. Her web site is http://www.BrainWaysTraining.com.

Last Updated: 07/10/2009