The accounting industry is very competitive. To stay ahead of the competition, you would need to specialize. There are several benefits of specialization for accounting firms. Specialization is a good leads generation strategy because it allows you to stand out from your competitors. You can understand an industry so well that you will have a natural edge when generating leads in that industry. When you focus on offering your services to a specific industry sector, you appear to be an expert in that industry.
For example ;
if your CPA firm provides services exclusively to e-commerce businesses and you understand every accounting and non-accounting problem experienced in that industry.
You will certainly be able to see opportunities missed by other CPA firms and use them to your advantage.
When CEOs of e-commerce businesses know that you offer accounting services exclusively to their industry, they would want to work with you because they know that whatever challenges they might face, you would be able to solve them.
BENEFITS OF SPECIALISATION FOR ACCOUNTING FIRMS
1) You can charge higher billing rates
2) You can generate more leads easily
3) You can close more sales quickly.
4) It allows you to see opportunities to add more value to the services you provide.
5) You become recognized as an industry expert.
If you have already decided to specialize as a CPA, tax planner, or as a firm and you would like to know how to get more clients in the industry sector you have chosen to specialize in, click here to read an article that gives you a step by step guide on how to do that.