In India, there are restrictions against CA firms soliciting for business through marketing activities and advertising their business. However, it is important to have a wider reach and a larger customer base in order to have consistent business. There are various subtle ways in which you can attract new customers and maintain existing ones:
1. Opening a new branch office
With a branch office at a new geography, you could cater to newer markets and thereby increase your client base. This way you make your practice more scalable. Such an expansion move requires additional capital in the form of purchasing new premises, setting up infrastructure of the new office space, getting the necessary computers and other tools, hiring new recruits, etc. These expenses can be easily funded with a business loan or a loan against property for chartered accountants.
2. Partnerships
You can get other partners for your firms as they not only bring in expertise and additional capital for your firm but also bring along contacts which could be your clients.
3. Asking for Referrals
Your existing clients can be the best brand ambassadors for you. Be proactive when it comes to asking for referrals from satisfied customers. Keep in touch with your customers on a regular basis and let them spread the word about your services in their network.
4. Up-selling and Cross-selling Related Products to existing clients
If there are related services, which you could offer to your client, do not hesitate to pitch in. There may be instances where the customer is not aware that you offer certain services. Make sure that you present your entire array of products to your customers and further your business association with them.
5. Social Networking
Be part of activity groups and associations in your city in order to enhance your social network. Ensure that you are active in all the associations that you are a part of and attend all their meetings. Such organisations can open up great opportunities to expand your business.
6. Professional Networking
It helps to be an active member of the CA groups and associations in your city. This can help you get references in your specialised area of operation. It is a brilliant idea to take up speaking assignments at professional forums. This will give exposure to your firm and its business.
7. Writing Scholarly Articles
Writing articles on topics related to your field can give you a lot of exposure. You could publish your articles in financial magazines and journals. You could explore the possibility of publishing your articles online on financial sites. This would offer you tremendous visibility and could pave the way to a much larger client base.
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