Published: November, 2021
To create a solid, long-term growth strategy, firms must include two very important factors: new business development and firm loyalty.
This CPE course focuses on the loyalty factor and how this plays directly into the growth of an accounting firm.
Loyalty in the form of employees and clients can have a significant impact on the bottom-line profitability of any accounting firm with an increased client and employee retention directly impacting productivity.
When you nurture loyalty in the people that work for you, you’ll start to see some incredible benefits for everyone involved. When employees are loyal to their workplace, they will be more willing to invest in their work, innovating new ideas, and going the extra mile. Loyal employees are happy employees, after all, and as Forbes reports, happy employees mean “hefty profits”.
Did you know it costs five times more to acquire new clients than it does to retain current clients?
And did you know existing clients are 50% more likely to continue with your firm as well as spend 31% more than new clients?
Whether or not you currently have a loyalty program that encourages your clients to return and conduct more business with you, the above statistics clearly show the importance and impact of a successful client loyalty program.
Client loyalty also fosters a strong sense of trust between your firm and clients — when clients choose to frequently return to your firm, the value they're getting out of the relationship outweighs the potential benefits they'd get from one of your competitors.
This course outlines how to build loyalty within accounting firms and strategies for immediate improvements.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Consultant, Inovautus Consulting
Ty is a CPA with almost 20 years of experience in both public accounting and sales. Ty worked as an accountant at firms ranging from small to large prior to moving into the accounting technology sector successfully building sales training programs for both Wolters Kluwer and Bloomberg BNA. Working in different areas of the accounting industry, Ty recognized that sales and business development skills are a necessary part of the job of a CPA, but also the most underserved in terms of skill development and training. Ty’s passion is to provide the tools necessary for accountants to not only be successful but also enjoy business development. Ty has a Bachelor’s degree in Accountancy from Transylvania University in Lexington, KY.
Growing a professional services firm today is about more than just great marketing and effective business development. It includes the right people, too. Inovautus Consulting was founded on the belief that effective marketing strategy and execution combined with acquiring and retaining key talent is the foundation of growing a professional services firm. We work with accounting firms, law firms, financial planning firms, and other service-based businesses that operate in a multi-owner environment. I invite you to learn more about what we do and welcome you to check out our blog and resources section for tools that can help you grow.