Why your accountancy firm needs its own client enewsletter

Most of us have signed up to receive email newsletters – the good, the bad and the ugly. We look forward to receiving the ones we like and value, but soon unsubscribe from those crammed with irrelevant content or a blatant barrage of sales messages.

Just when they looked to be all but dying out, about three years ago enewsletters underwent a renaissance. Everyone was doing them again; some were superb and they helped brands to build better customer relationships. Enewsletters can be a particularly effective marketing tool for accountants and other service-based businesses.

“Enewsletters can be a particularly effective marketing tool for accountants and other service-based businesses”

Why are email newsletters popular?

Email marketing is where you send out pure sales-related content, for example, information about your latest offers. But enewsletters contain news, features and other content designed to inform recipients – to increase their knowledge.

The key reason why people sign up to enewsletters is they want to learn more about things they’re interested in. Many of us love enewsletters and those that national newspapers send out every day are now among the most popular. Your average enewsletter design is now far better and enewsletters are much easier to read on smartphone, which has also helped to boost their popularity, because you can read them wherever you are (almost).

If someone has signed up to receive your enewsletter, it’s less likely to be spam-filtered. And research suggests that the average enewsletter open rate is high, providing you have a good subject line and the recipient recognises the sender. Pick a good mix of high-quality, relevant, timely content and your click-through rates can also be high.

“If you provide valuable information that benefits subscribers, they’re more likely to know, like and trust you – and buy what you’re selling”

Highly effective

When well written, produced and distributed, email newsletters are a highly effective way to reach prospects and existing customers, ensuring that you remain in their thoughts (or occasionally pop into their heads, at least).

If you provide valuable information that benefits subscribers, they’re more likely to know, like and trust you – and buy what you’re selling – the ultimate aim, of course. In a business context, your enewsletter information should enable recipients to increase their knowledge, solve their problems, save time, money or otherwise become more profitable and successful.

Having your own enewsletter can make your small accountancy firm appear bigger and more professional – and more interested in its clients – which can really set you apart from your competitors. Adding value to your customer relationships in this way can ensure that your customers remain loyal.

“Latest news, tips, updates and key-date reminders are all common enewsletter content, but longer-from content can also prove popular ”

Question of balance

Latest news, tips, updates and key-date reminders are all common enewsletter ingredients, but longer-from content can also prove popular. You can tell recipients about latest developments, whether in their sector, the small-business world or at your business (don’t overdo this). Sharing your insight via enewsletter is a good way to underline your credibility as an expert, while competitions and giveaways are also popular. Research suggests that subscribers are happy to hear about new offers or latest deals via enewsletters (but limit this also). Think “tell, tell”, rather than “sell, sell”.

Some businesses send out weekly enewsletters, while others send them out every two weeks, each month or quarter. Many accountants send out Budget specials, of course, while many have sent out special enewsletter to explain the latest Covid-19-related changes. Frequency is key, because you mustn’t bombard recipients, you simply want to keep them connected, engaged and informed.

“Part of email marketing’s attraction is it offers a great return on investment – some believe a £42 ROI for every £1 you spend”

Return on investment

Enewsletters can be created for very little cost, even if you buy content. Part of email marketing’s attraction is it offers a great return on investment (ROI) – some believe a £42 ROI for every £1 you spend (source: Direct Marketing Association). That’s a pretty compelling claim.

Testing and analytics enable you to quickly find out what works best, whether that’s your subject lines, content type or when to send your enewsletter. Setting up and managing a customer enewsletter is relatively straightforward, but if you just don’t have the time, knowledge or inclination, paying someone else to do it for you could prove a wise investment.

In my next post, I’ll provide a step-by-step guide to setting up an enewsletter for your accountancy firm, together with some important legal considerations.

• With 15 years’ experience as a leading writer of small-business content, Mark Williams is the founder of Dead Good Content, which specialises in writing readymade and bespoke content for accountancy firms and others that want to market their services to small businesses.

How to create a new marketing plan for your accountancy firm

The lockdown may have smashed a gaping hole right through your marketing plan for 2020. You may serve sectors that have been particularly hard hit. Some of your prospects or existing clients may have already gone to the wall.

Many of the assumptions, aims and actions set out in your previous marketing plan may no longer hold water. Your marketing plan may not have been working anyway. And, whether through lack of time or knowledge, some smaller accountants don’t have a marketing plan, which may be limiting their growth.

Although many are understandably feeling slightly dazed and confused at the moment, doing nothing isn’t an option. All businesses must act if they are to get back on track, and creating a new marketing plan could really help your recovery.

“Planning is bringing the future into the present, so we can do something about it now”

Why create a marketing plan?

As once explained by celebrated American time-management author, Alan Lakein: “Planning is bringing the future into the present, so we can do something about it now”. Lakein is also credited with the often-quoted adage:  “Failing to plan is planning to fail”.

This is a slight over-simplification, because businesses without marketing plans aren’t necessarily doomed to failure. Moreover, marketing plans don’t guarantee success, because things don’t always pan out as expected. But planning can increase your chances of success, while enabling you to make the most out of available opportunities.

You can develop a marketing plan for your entire business or just a specific product, service, market or customer type. Your marketing plan need not be long or intricate, in fact, the shorter and simpler the better (the KISS principle certainly applies). Most marketing plans are for periods of one to three years.

Marketing plan basics

In essence, marketing is how you get prospects and customers interested in buying your products or services (after that, you’re into selling). The marketing process involves research, creating a service or product (sometimes), promoting, selling and distributing your wares.

According to Susan Ward: “When you’re putting together a marketing plan, concentrate on four key components – products/services, promotion, distribution and pricing.” Success rests on offering the right things for the right price in the right way, while ensuring that enough people know who you are and what you sell. Ward says creating and implementing a marketing plan can help you to keep your marketing efforts better focused, so that you ultimately make more sales.

If your market knowledge is out of date or lacking, your marketing plan will be flawed. If necessary, undertake up-to-date market research. Your plan must also summarise your offer (including your USP) and your market (ie its size, value, trends, etc), your target customers, your competitors and your market position. All of the above should also be up to date.

“The most crucial marketing plan aims are linked to sales, expressed in numbers or percentages, linked to those detailed in your business plan ”

Setting marketing plan aims

Take enough time to consider your marketing plan aims, which should be SMART (ie specific, measurable, achievable, realistic and time-bound). If they’re specific, you know exactly what you’re trying to achieve. If they’re measurable, you can assess your performance.

Ambition is a great thing, but there’s no point in setting unrealistic marketing plan aims, because you’ll only fail. You should set milestones and a deadline for your marketing plan, because then you’ll be able to assess your progress.  

Your marketing plan goals could include increasing awareness of your brand, launching new services and targeting new customers and entering new markets. However, the most crucial marketing plan aims are linked to sales, expressed in numbers or percentages, linked to those detailed in your business plan.

“If you spend time creating a sound marketing plan, it could make a big difference to your ability to survive and thrive in these challenging times”

Marketing plan strategy

Now you must decide your marketing tactics or marketing strategy, in other words – how you’ll achieve your marketing plan goals. Key options include search engine, email and content marketing, PR, social media and advertising, while word-of-mouth recommendations remain important to many small accountancy firms. Most businesses use a mix of tactics, and if don’t know which ones work best – test, measure and learn.

Once you’ve decided your marketing tactics, calculating their cost allows you to set and allocate your marketing budget. Closely monitoring which marketing tactics are delivering the required results will enable you to assess your return on investment. Over time, you’ll be able to allocate your marketing spend where it’s most likely to deliver your marketing and business plan objectives.

Finally, creating a marketing plan that you never use is pointless. If you spend time creating a sound marketing plan, it could make a big difference to your ability to survive and thrive in these challenging times. To quote another popular business adage, action without planning can prove fatal, but planning without action is futile.

• With 15 years’ experience as a leading writer of small-business content, Mark Williams is the founder of Dead Good Content, which specialises in writing bespoke and ready made SME blog and news content for accountancy firms and others that want to market their services to small businesses.

How to stay positive during lockdown

So, how’s the lockdown going for you? Good days, bad days, days somewhere in between? Days when things seem bleak and others when you’re quite enjoying the “new normal”?

The lockdown is generating a wide range of feelings and emotions, including sadness, anxiety, anger and loneliness. It can be hard to believe the things we’re seeing and the uncertainty is disconcerting – even overwhelming. The more unfortunate among us, of course, are recovering from illness or are mourning the loss of loved ones.

Money worries or having to look after kids 24/7 can be stressful – especially if you’re also trying to keep your business afloat. Many of us are worrying about loved ones we can’t visit. People react in different ways and even our own moods can vary, day to day. It’s all perfectly normal, and, for many of us there will also be moments of fun, laughter, hope and optimism.

Staying healthy and happy

There are many things you can do to try to stay positive during the lockdown. According to Philippa Roxby, BBC News health reporter: “It’s really important to do fun stuff. Be creative. Think of things you haven’t done before that you’d really like to do”.

And, as highlighted on the NHS website, it’s vital to stay in touch with friends and family. “Maintaining healthy relationships with people you trust is important for your mental wellbeing,” it states. “Think about how you can stay in touch with friends and family – by phone, messaging, video calls or social media – whether it’s people you usually see or old friends.” Even if you’re feeling OK, others might be struggling, so getting in touch could make a big difference to how they’re feeling.

Wanting to stay updated is fine, but avoid consuming too much news during the lockdown, because most of it won’t be positive. Limit your time on social media and switch off breaking-news alerts. Maybe watch something a bit lighter? Numerous musicians (eg Chris Martin, Paul Weller, Gary Barlow, Neil Young, John Legend and others) have been entertaining fans with virtual lockdown performances. Recently, Elton John and others staged a memorable virtual coronavirus benefit concert. You could watch a classic comedy movie.

Sleeping, eating and drinking

The NHS website reminds us how important it is to get enough good quality sleep, because it can make a big difference to our ability to function and cope. It’s also important to relax when possible, and you can learn relaxation techniques to help you deal with anxiety or stress.

We are what we eat, so it’s also important to maintain a healthy, balanced diet. The Independent offers tips on how to eat healthily during lockdown. Ever made your own pizza or sourdough loaf? No? Then why not try BBC Good Food magazine’s top 10 foodie projects to try in lockdown. Also look online for healthy new recipes to try.

It’s best to avoid binge-eating and unhealthy snacking, while Glamour magazine offers tips on how to limit your alcohol intake, so that you don’t become a “Coronaholic” (hic!). With Britons estimated to be buying 20% more alcohol for home consumption each week, health experts are advising us to set boundaries for lockdown drinking and go a bit easier on the “quarantinis”. Make sure your drink enough water, too, at least six to eight glasses a day (ie 1.2 litres).

Get some exercise

During the lockdown, it’s also important to get some exercise, as it can keep both our bodies and minds healthy. Who can fail to have been inspired by the extraordinary exploits of Captain Tom Moore, who has raised almost £33m for the NHS by completing 100 laps of his Bedfordshire garden shortly before his 100th birthday?

Since the start of the lockdown, Joe Wicks (AKA the Body Coach) has been providing online workouts for kids that would leave many adults sweaty and breathless. Joe’s online PE class videos attract millions of viewers and they’ve raised more than £200,000 for the NHS. The NHS website also features short workouts at home videos, while Wired lists the “best fitness apps to keep in shape while on lockdown”.

You could get some “dancercise” by turning your house into a pop-up disco – à la Sophie Ellis-Bextor (@SophieEB) – and get those you live with to also throw some shapes. For home-based lockdown yoga videos, with more than seven million subscribers, Adriene Mishler has become “YouTube’s biggest yoga guru”. While observing social distancing rules (ie remaining more than 2m or 6ft away from anyone you don’t live with), even going for a walk in the fresh air can work wonders, especially if you’re feeling a bit down.

Small comfort

Writing in The Guardian, psychology professor Lea Waters tells us that we need to savour the small moments, because it can help us to stay positive. “Even during lockdown, you still have many small moments to savour. The smell of coffee, the feel of the warm shower on your back and so on,” she explains. “When you stop to take in these moments, you are giving your brain a chance to process the pleasure, which boosts your serotonin – the feel good neurotransmitter that helps to elevate your mood.”

We are living in unprecedented times, when expecting to remain positive throughout each and every day is unrealistic. For many of us, there will be lows. However, it won’t always be this way. One day, hopefully soon, COVID-19 will be nothing more than a nightmarish memory. Maybe we’ll come out the other side all the better for what we’ve been through. That’s something positive to hold on to.

• This blog appeared originally on the Manage My Website website.