How Your Accounting Firm Can Snag Millennial Clients
As of 2015, there were roughly 9 million millennials in Canada, which represents 26% of the population. Your small accounting business needs to become millennial-friendly, offering products and services tailored to this generation’s unique preferences.
Engage millennial customers by using the latest technology. Millennials communicate with financial service companies using mobile apps, websites, texts, and email. Use social media platforms such as LinkedIn and Twitter to reach out to young professionals; this demonstrates that your business feels comfortable engaging with clients via technology. For example, you could post an article about preparing for tax time on Twitter and answer questions in follow-up tweets. Conduct social media competitions that reward clients who refer your services through their network. Use the latest cloud accounting software to allow clients to access and input their financial information remotely. You could provide free Wi-Fi in your waiting area that clients can use while waiting for their consultation.
Become Known as an Expert
Develop a reputation as an expert, specifically in areas that interest millennials, such as providing accounting services to startups. Consider starting a blog to communicate with potential clients. Show your expertise in areas of accounting that you specialize in by blogging about them. For example, if you specialize in accounting services for freelance professionals, regularly update your business blog with articles that provide valuable tips for freelancers.
Engaging with clients via your blog builds trust and credibility, and it shows you have the expertise to provide them with solutions. Millennials like to share information with their friends; providing quality content that they can share on social media helps spread your reputation as an expert. Consider giving guest lectures at local universities to demonstrate your accounting knowledge and experience.
Use reviews to attract millennial clients. Client reviews carry more weight than other promotional activities, as they come from a trusted source; roughly 70% of millennials say they trust information in reviews.
Encourage clients to review your business. Have a review page on your website where your clients can leave comments and rate your products and services. Share client reviews via your social media profile to promote transparency.
Negative reviews, if managed correctly, can reflect positively on your accounting business. Make sure you provide a timely reply and address the client's concerns. This shows that you take customer feedback seriously. For example, if a client leaves negative feedback about a recent tax return, provide a course of action to assist the client.
Provide the Full Experience
Millennials want more than a basic purchase from your business – they want you to provide an experience. Don’t offer vanilla products in isolation. Build an experience by offering complementary products that enhance your existing products. For example, if you offer billing and invoice software, you could offer seminars or webinars discussing how to invoice customers effectively.
Actively make millennials aware of how your other products and services can meet all of their accounting needs. This helps build an ongoing relationship with your millennial clients.