How to attract and retain high end clients

There is a wonderful restaurant in Temple Fortune (a suburb in NW London). It doesn’t look like a high class place. Indeed it looks quite ordinary and seems to be under the same ownership as the bookshop next door.

Unexpectedly the quality and presentation of the dishes they serve at Cafe Also are outstanding and yet the prices are quite reasonable.

Indeed you could be served comparable dishes in a top rated London restaurant. But, if you were, you would be charged two or three times the menu prices at Cafe Also.

Why is that? It’s probably because an ordinary looking restaurant in Temple Fortune cannot attract enough of the customers who would pay top London prices. But this doesn’t dent the chef’s ambition or commitment.

The comparison with accountants isn’t perfect but I hope you get the idea. Your appearance conveys your status and often impacts the fees you can charge. First impressions count.

If you’re based in a dingy room above a high street shop, if you have an old fashioned website, a cheap business card, a hotmail email address, a photo of your home appears in the google search results and you don’t otherwise give the impression of being successful…. Well, quite simply, you will probably struggle to attract and retain high fee paying clients. The fact that you make an effort to provide a high quality service often will not be enough.

I provided a longer list of the ‘wrong’ reasons for Standing Out in this earlier blog post >>>>

The bottom line is clear. If you are looking to secure premium clients paying premium fees you will find it easier if you give an appropriately positive first impression. If you want to keep those clients you will need to follow through and show that the value you deliver warrants higher than average fees.

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Should I focus on my logo or my face?

Few of us have such a clever brand that we can rely on this or even a logo to secure business.

A brand takes time to establish. A logo may attract interest. But ultimately it is you who will need to engage prospects and win the business for your accountancy practice.

Your photo, personality and personal style are key here.

Most people choose to engage you, or choose not to engage you, as a person, almost regardless of your firm’s branding.

This is why I think it is so important to show who you are on your website and on your social media profiles.

Does your website include:

  • your name,
  • an appropriate, up to date and recognisable photo of you, and
  • talk a little about you?

Does it help visitors to think – yes, I’d like to talk with this person?  Or do you make that most common of mistakes among small accountancy firms: Having an ‘About us’ page that tells people nothing about YOU at all?

A related point is to then make it easy for prospects to get in touch with you. Do you do this or do you just have a generic info@ or admin@ email address on your website?

Why hide who you are? Are your ideal prospects more likely to get in touch and call a generic office number or to try to make contact with a specific person (you)?

Some accountants, typically sole practitioners, start out using their website to imply that their business is more than just them. If you don’t work alone you can include reference to the team on your website. But if it is just you, then referencing a non-existent ‘team’ and pretending to be bigger than you are could damage your credibility. This happens when people find out there’s no substance to your implied assertions that your business is bigger than is actually the case. If you’ve lied about that, can your advice be trusted?

Big brands secure business through the reputation and longevity implied by their well known logos. This isn’t the case for small firms of accountants. And there isn’t enough real upside of building up name awareness of your brand and logo. Much better to show who you are and to ensure you are recognisable when you attend a meeting or event.

Similar points apply to your Linkedin and twitter profiles. Make sure again that there is a recognisable and appropriate photo of you on your profile page rather than just your business logo. On Linkedin and Facebook you can set up separate business pages. Your personal profiles can link to them.

Also, as I always say, Linkedin is an online business network. It’s all about connecting business people, so your logo is not a good substitute for a headshot.

You could have a separate twitter account for your practice – but that would be a waste of time and energy. Instead I strongly urge you to again use your photo and your name rather than your firm’s name or brand. If you already tweet using your business name do at least include your name on your twitter account. This makes it much easier for users to engage with you and more likely that you will attract relevant followers and ‘conversations’. It’s much harder to do this with a ‘corporate’ account than with a personal one. And you can’t expect everyone to check out your ‘business’ twitter profile so they may never notice your name is there.

Back to the question in the title of this blog post. I trust the answer is now obvious?

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Does your website stand out in the wrong ways?

I heard Graham Jones speak at a business event recently. Graham is an internet psychologist and frequently shares unexpected but valid insights about how how people use the web.

On this occasion he was talking about websites and he explained, with good examples, why it can be a mistake if your website stands out too much. There are lesson here for accountants of course.

Graham has since shared a summary of key elements from his talk in his email newsletter. I quote from this below.

Graham explains that:

“People have pre-set ideas as to what they expect to see when they land on a site. Neurological studies show that if people don’t see what they are expecting in less than one second, these visitors disappear, bouncing out of the site, looking for something else”.

He gave an example of a bride looking for a wedding venue:

“If she lands on a hotel website and the images are all of business people in suits, she instantly thinks “this is not the hotel for me”, even if the venue does offer weddings. The bride expects to see images of people like herself, instantly. If she doesn’t see them in half a second, she perceives that the site is not for her, even before she has started to explore it.”

Another example he gave was of a garden centre website that was told it needed to look different to all the others so that it “stood out”:

“Their web designers told them that almost every garden centre website used green as its principle colour. So to stand out from the crowd, the developers suggested pink. The garden centre site was transformed, but sales plummeted. Why? Because the bounce rate rocketed, as people do not associate pink with gardening. People expect a website that is focused on gardening to have a lot of green in it. When they don’t see that, they think “this is not the right site”, and they bounce out, looking for an alternative that matches their expectation.

The problem with not providing what people expect leads to a phenomenon known as “cognitive dissonance”. Essentially this is your brain going “this does not compute”. In other words, there is a mental clash between what we see and what we had expected to see and our brain gets stuck in a rut trying to sort it all out. And when a website visitor’s brain gets stuck in that rut the easiest solution is for them to leave the site, thereby eliminating the problem for them.”

Graham was clear that it can be a mistake to adopt a “wacky” approach to your website design. With so much material available online it’s easy to want to “stand out” and be different. That is often what businesses (and accountants) are told by web designers too. They say that the accountancy firm, for example, shouldn’t have a “me too” website, looking like all the others in the same category.

Graham explains:

“That is old-fashioned thinking, though. When you had time to explain to people why your company brochure was printed sideways, or why your corporate colours were pink and orange instead of green, then they understood and remembered you for being different. But nowadays you don’t have time for people to understand the differences. Instead, they need to know, in an instant, that they have landed on the right kind of website.

If you are a taxi firm and your site doesn’t look like a taxi company’s website, you will have driven away your visitors. Similarly, if you run a local stables and your website doesn’t seem to be about horses, off trot your visitors to another site. In other words, the most important thing to do these days is to be the same, not be different.”

The main focus of many of my talks is on the easy ways in which you can choose to stand out from your competitors and the pack. I reference ‘appearance’ as being one of the 7 key ways you can stand out. This isn’t just about how you appear face to face, but also online. Appearing different to other accountants online doesn’t mean that your website design needs to look very different from other accountants’ websites. It’s the content that could well be different – indeed it probably should be different to the standard boring content on so many accountants’ websites. Your content can indeed help you to stand out.

As an accountant you will want your website to appeal both to those strangers who are searching online for an accountant – and who are the sort of people you would like to have a clients. You will also want your website to appeal to those people who have been specifically referred to you or who have met you and now want to check you out.

As Graham says:

“Make the difference in what you DO, not what [your website looks like]. Your visitors will have cognitive dissonance and get confused if you don’t look like all the other websites in your sector. Be the same as everyone else and your visitors will stay on your site.”

Make your website standout through the way you reference your genuine focus on clients, how they benefit from your approach, any special services you offer, your expertise and any niche areas in which you operate. If you are a sole practitioner your website will also stand out (positively) if it reveals who you are and lets visitors get to know you a little. A standard ‘about us’ page that only talks about ‘the firm’ just doesn’t cut it in my view.

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Could you adapt this unique way of standing out from the crowd?

I still remember meeting Christopher Higenbottam at a networking event some years ago. I asked what he did and he told me he is an architect. (Indeed it transpired that he was the MD of Tempietto Architects). We talked for a while about his work.  After a few minutes I think I asked him whether there was anything specific that distinguished his practice from that of other architects I might know.  I’ve long asked variations of this question when first meeting fellow professionals.  And it’s an important one to be able to answer convincingly.

Most professionals, in my experience, fall back onto the hackneyed stand bys. They often talk about offering a ‘personal service’ (sometimes they even seem to believe that this is special, just like ALL of the other accountants, lawyers, surveyors who say the same thing).  Other common  replies, that also fail to make you memorable or distinctive, focus on other intangible service elements.

If I ask you this question it’s because I want to know what to listen out for when talking to people who might need your services. If I’m not a potential consumer of the  services myself I want to know why I should remember and recommend you rather than any of the other accountants, lawyers, surveyors I have met.  Knowing that a solicitor, for example, specialises in employment law is not enough.  I know dozens of employment lawyers.

Equally, when you meet people at networking events you need to appreciate that they have probably met loads of other people who do what you do. I have addressed this need to STAND OUT and to be memorable many times on this blog.

So what did Christopher Higenbottam tell me that made him stand out? He focused on one element of his services – homes for individuals. I recall he talked about some special homes that he had designed.  Then he did something no one has ever done with me at a networking event before or since. He pulled out his smartphone and showed me a short slide show containing 6 photos of beautiful homes he has designed. And guess what? I REMEMBER him.

This idea is not easily replicable by many other professionals. Few of us produce anything tangible and worth photographing. There’s little point in an accountant showing a few photos of a well bound and balanced set of accounts!  I had a few alternative thoughts when I first shared this story. None of them serious.  Perhaps you can do better?  Do please add your thoughts as comments on this post.

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How much personality should sole practitioners put into their practice?

I was asked two related questions during a recent interview. This post is drawn from the notes I made before giving my answers on air.

1. With so many businesses competing with each other online, has it become more important to put more personality into your practice?

The smaller your practice the more important it is to allow people to know that it is you who runs it. I am assuming here that you want more clients and that you’re not simply looking to take on those people who want the cheapest possible job.

Your clients know who you are, don’t they? Why hide this from prospects? That’s what you do when you fail to include your name, a photo and something about you (as a person) on your website. It’s really easy to STAND OUT positively from all of your competitors who fail to do this. Let them be the ones who hide behind a business name and brand – with a website that only allows people to contact an unnamed info@ email address.

I’d encourage you to adopt the same logic when you are crafting or updating your Linkedin Profile. (See my free Linkedin Profile Tips here>>>)

And finally on this point, if you’re going to use twitter then ensure you use it in your own name with a photo of YOU. This will be far more effective than tweeting in your firm’s name. Personal twitter accounts always have more engagement and followers than those that operate in the name of small accountancy firms.

The more of your professional personality you show the more you will STAND OUT positively from your competitors who fail to do so.

2. Is there such a thing as too much personality?

I’m sure we’ve all seen people who confuse the idea of evidencing their personality with shouting about their achievements and activities online celebrex cost. This sort of behaviour is a turn-off and rarely helps build a positive reputation or new business leads.

What do you want people to say about you when you’re not there? You want to leave a positive impression whether online or face to face. If you have a larger than life personality that’s fine. It’s not for everyone, but if that’s your style then don’t hold back. Just try to ensure you are aware that some people may find you overpowering and so struggle to build rapport with you. Then  again, maybe you want to attract the sort of people who can relate to and enjoy the company of a larger than life accountant with a big personality. You can’t please all the people all of the time.

Be yourself – be authentic – be consistent. And let people take you for who you are.

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My friend the slob and why he didn’t get a referral from me

Some years ago I spent a lot of time with a lovely guy* whose focus was team building in larger businesses. One day he asked if I would introduce him to my contacts in a specific company he was targeting and where I had worked previously.

I took a deep breath before answering him honestly. I said I was sorry but I wouldn’t do that because he always looked a mess. His shirt and suit looked too old and too small for him and he really just didn’t look the part. If he smartened up I said I’d be happy to effect the intro as I knew how good he was at his job. I also knew that he had made a conscious decision not to change the way he looked. He liked the shock he caused when people found out how good he was and that appearances can be deceptive.

I explained however that I was concerned that my credibility would be damaged if I effected the introduction. I knew the Directors of the company well enough to be certain their view would be the same as mine. Even if they were impressed by my friend’s skills and approach they would be equally reluctant to bring him in-house for a team building event. he just didn’t give the right impression. The company wanted all of their staff to give a good first impression to clients, prospects and influencers. They would never engage a trainer who evidently didn’t agree with the company’s approach.

Maybe I was wrong. Maybe I misjudged my ex-colleagues. Maybe.

The point is that my friend missed out on the referral he sought because his view was not the same as mine. Or, I would wager, the same as many other people.

My friend didn’t think his appearance should be a determining factor. Maybe he was right. But human nature being what it is, why put up a barrier that doesn’t need to be there?

So far as I know he never worked for the company concerned. He also didn’t change his style. It’s almost his trademark – which is fine. But it limits the number of companies that will choose to work with him.

My advice is that it’s a good idea to ensure that you don’t create a negative first impression either face to face or online. You can think what you like about the impact that clothes should make on other people’s first impressions of you. The fact is that you can ensure the first impression others get of you is a positive one or a negative one. The choice is yours.

Making an effort with your appearance and evidencing a positive attitude could well ensure that you STAND OUT positively compared with your peers and with your competitors. Especially if any of them haven’t given the issue any thought!

 

 

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When you DO get a second chance to make a first impression

During the summer, at The Magic Circle, one of our more distinctive members gave a short lecture. Laura London stands out in a crowd even though she no longer wears the tight leather outfits she did a few years back.Laura London, entertaining Prince Charles

She still has bright red hair and lips which I am sure command attention wherever she goes. However, despite her distinctive look, Laura adopts a softer, gentler approach to many of her close-up performances and ensures that the spectator appears to be doing the magic themselves.

Laura is a firm believer however that “It’s not about the magic, it’s about you. The first words you say, the way you look, the person that you are and the kind of personality you portray are the first things that people judge you on.”

In Laura’s case I imagine that many people she meets assume her character will be something different to how she comes across one on one. I am sure this works to her advantage.

It got me thinking though. Normally we say that ‘you never get a second chance to make a first impression’. The implication being that the first thing people assume about you will determine what they think and remember about you. I have always taken this to mean that if you don’t create a positive first impression you won’t get a second chance.

Watching Laura deliver her lecture and chatting with her afterwards has caused me to rethink the idea which I now see as too simplistic.

If the real you is distinct from the first impression people perceive, this can work for or against you. For most of us there is a risk in cultivating a degree of incongruity, which is what Laura does. It works well for her and the ‘real’ Laura is typically less ‘outrageous’ than her appearance might lead one to expect.

If someone forms a less than positive first impression of you as a professional or a performer they may well switch off.  Typically you will struggle to recover from this disadvantage. If however the initial impression you give commands attention. you want to avoid disappointing people unless what you do or say is truly impressive and memorable in its own right. This is what I think Laura does and it’s not easy.

Who else do you know, or know of, who stands out through their appearance and first impressions but which seem to be misleading as compared with their natural style and approach? Does the incongruity work for them or against them?

 

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The 3 factors that will determine your social media success

It’s all too easy to get caught up in the game of chasing followers, likes, connections and social media klout. It may be fun to keep track of these metrics and to keep increasing them. But, in real life, they are not important by themselves.

There is little point in simply pursuing these metrics. You need to have key business focused targets instead. It may be that you want to raise your profile and to become a go-to person for media comment in your area of expertise.  Most accountants and lawyers for example, are experimenting with social media to generate additional fees.

And that is the key metric that you need to measure. How much of the additional fees you generate can be attributed to your online social media activity? There will rarely be a quick or short payback in this regard.

It is also important to note the 3 factors that will influence the speed with which you can gain a payback. These factors are all relevant whether your social media activity is focused around facebook, online forums, blogging, twitter or Linkedin.

The 3 factors are:

1 – Effective use

How effective is your use of the social media platform? How consistent and congruent are your messages, your profile and your online activity?

2 – Your website

Most accountants using social media will include links back to their website.  Your social media activity may be exemplary but your website could be a turn off. Does it reinforce the messages you have been promoting on social media? Does it engage visitors? How easy is it for them to get in touch with YOU (as distinct from a faceless ‘admin’ person)? Does your website even reference your name and profile?

3 – Offline follow up

Just like with any other form of networking, personal contact is crucial. If you are not leveraging your use of social media to meet with people face to face or at least to speak with them on the phone, you will wait longer to secure a valuable ROI.

Agree? Disagree? Are there any other factors that will determine your success of your social media activity?

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What are your top skills and expertise?

The top ranked personal skill or expertise on my Linkedin profile is currently ‘strategy’.  It has been moving up the list over the last year.

I am flattered that hundreds of people have endorsed me for ANY skills and expertise on Linkedin. Until recently ‘Accounting’ was top – presumably by reference to my background in and knowledge of the UK accounting profession.

The reason for this post though is because of the question in my mind since I started considering why hundreds of people were endorsing me for ‘strategy’. As I admire so many other strategic thinkers and advisers, I am quite thrilled anyone should feel this word is relevant to what I do.

After I comment on this below I share some lessons that may be of use to you re your Linkedin profile.

Do I do ‘strategy’?

I have not, to date, referenced ‘strategy’ as a skill, topic or expertise in any of my online, author or speaker profiles. So why does it appear to be so popular among my Linkedin connections?

It could be simply a function of Linkedin’s algorithm such that it is the most often promoted skill when anyone visits my profile on Linkedin. Or it could be a down to the impression people get through much of what I write about, speak about and share. Or, most likely, a combination of these two reasons.

This has caused me to reflect on the impression others get from what I do.

I frequently find myself debunking over-hyped ideas and forecasts about the speed of impact of changes on the professions. I also tend to discourage anyone from chasing the latest fad without first thinking about their target audience and focusing on ways to engage with them.  And I always encourage my audiences to clarify what it is they wish to achieve; then I recommend having a plan rather than just experimenting with new ideas all the time.

Hmm. And what is business strategy all about? It’s about identifying your objectives and creating a plan as to how you will achieve them.

So, yes, perhaps I should reflect on how others see my advice as being strategic. If you agree by all means add your endorsement to my Linkedin profile

How much importance do you place on the endorsements you get on your Linkedin profile? Remember, that endorsements are very different to recommendations.

The skills and expertise on your Linkedin profile

When Linkedin introduced their endorsements facility in 2012 I saw it as a bit of a game. I determined that it wasn’t important to get loads of endorsements. I have however long maintained that it was key to only accept onto your profile endorsements for skills you really have and which you want to promote. (See: What I like about Linkedin endorsements – October 2013)

Linkedin asks visitors to your profile, with whom you are already connected, to endorse you for a range of skills. Some of those skills may already be on your profile. Others are on the profiles of people who Linkedin thinks are a bit like you. In theory people who know you should only confirm you as having skills you really have. But, in practice, many users think they are helping you if they confirm you have skills as suggested by Linkedin. There’s no guarantee that they really think you have those skills.

Over time though it seems that Linkedin stops asking about random skills – especially if you haven’t added new ones to your profile even after people confirm you have them. This is certainly true in my case. I don’t recall the last time I had rejected the addition of a new skill that someone had endorsed me for (prompted, no doubt, by the Linkedin algorithm).

I would encourage you to reflect on the top 5 skills/expertise currently showing on your profile. Do these reinforce the message in the summary of your profile and in your profile title? Or will these skills/expertise confuse your message?

My advice is to delete any reference to skills/expertise that you do not have or that you know are not relevant to what you wish to be known for. And then, maybe ask some of your close connections to visit your profile and to endorse you for just 3 or 4 skills/expertise that you genuinely feel are relevant and justified.

This will serve three purposes.

  1. It will help you to understand what people really think you’re good at;
  2. It will encourage Linkedin’s algorithm to focus more on those popular topics when it invites other people to endorse you; and
  3. It will enable you to revise your profile to better reflect what you’re known for which should make it easier to achieve your business or career objectives

So I suggest this is a sensible strategy to pursue 😉

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