Jamie Diaferia is an attorney and a partner with Infinite Public Relations, Inc. (www.infinitepr.com), a media relations firm for professional services.  Based in New York, he can be reached at 212.687.0935 and jdiaferia@infinitepr.com.

Accountants, like other professional service providers, are constantly looking for new revenue streams.  Many firms attempt to forecast the next big thing, while others develop product offerings designed to lift the bottom line.  According to two presenters at the Accounting Firm Marketing Forum held in New York City, a more useful way to think about business development is to use technology to leverage existing contacts.

More than 100 marketing directors and CPAs from accounting firms across the country gathered to listen to speakers discuss trends in the industry.  Tracey Segarra, Marketing Director at Citrin Cooperman & Company, and David Reimer, Marketing Director at Mahoney Cohen & Company, described for the audience their attempts to use Client Relationship Management (CRM) software as a component of their accounting firms’ business development efforts to deliver better client service. 

While many in the audience acknowledged the importance of integrating CRM programs into their firms’ marketing efforts, a show of hands revealed less than a dozen accounting professionals had actually attempted to undertake an implementation.

What is CRM?

CRM programs are designed to link up with existing databases such as Microsoft Outlook to enable firms of all sizes to manage, coordinate and synchronize multiple client contacts, including their phone, fax, and e-mail data.  Internally, firms can use the information to sell to existing clients, compare notes among partners about who knows whom, and make insightful business decisions based on their preferences.

“Having the ability to leverage existing client data is critical,” Reimer explained.  “It enables you to uncover cross-selling opportunities and ask questions like, ‘Which client CEOs are not receiving estate planning services from the firm?’ ”

Reimer noted that CRM is not just for national and large regional firms.  Firms of all sizes gain an advantage by understanding the needs of their clients and marketing services appropriately.  “If client retention and satisfaction is important to your firm,” he explained, “then you can benefit from a CRM system and culture.”

“Three-quarters of your firm will be opposed…”

Understanding the importance of CRM is one thing, implementation is another, according to one accounting professional.  “We’ve had Goldmine in our office for three years, but it’s just sitting there,” said Rebecca Smith, Marketing Manager at Bush Levin Tecosky Zinman in Pennsylvania.  “I know it would be a time saver because we constantly have e-mails going back and forth asking about who people know.  Just getting it up and running is my long term goal.” 

Both Segarra and Reimer admit that convincing management to invest in a system can be difficult, noting that getting their partners to come around to their way of thinking was one of the most sizable barriers to success.  “It will initially be opposed by three-quarters of your firm,” Segarra cautioned the audience. 

“CRM crosses over departmental boundaries and that tends to get political,” Reimer added, noting that it is human nature to want to preserve one’s personal contacts and data.  “You need to have project champions to get feedback from, bounce ideas off of and help you win the rest of the firm over.”

Smith agrees, noting that the two biggest obstacles for getting her 30-member firm to get on board will be time and cost.  “There will definitely be resistance.  I just have to get to the partners who are on board so they can help sell it to the less-interested partners,” she said.

Keep it Simple

Jeff Reade, President of Cole Valley Software, has seen it all when it comes to working with professional service providers to overcome the initial challenges of implementing a CRM system.  Reade’s company sells ContactEase, the CRM program used by both Reimer’s and Segarra’s firms.  He maintains that the less time-intensive the training, the greater the likelihood of success, a concept that seems almost counter-intuitive.   

“Training is a huge stumbling block.  The most important thing is to minimize the behavioral change.  If it requires extensive training it becomes a hurdle, because professionals don’t adapt well to change.  They bill on their time, and they see training as a waste of time and, therefore, money,” said Reade. 

“Start them out slow by showing them they can share some of their contact information, but not all—‘You don’t have to share notes on your clients if you just share their address,’ for example.  They can control what data is shared,” he continued.

Segarra was quick to point out that CRM implementations should be done deliberately by starting out small.  “Firms need to roll out slowly and test and re-test [the systems] as they go,” she said.  “Once you get success it will begin to snowball.”  Reade agrees, stating, “When rolling it out, having it in small groups works best because it’s easier to monitor and implement, regardless of the firm’s size.”  

Reimer and Segarra knew they were in for a struggle when they introduced the idea of a CRM system to their firms, but they realized the end result was worth the hard work.  “The initial implementation can be frustrating, but implementing change often is.” Reimer said.  “Today, marketing is information, and if you can transform client and relationship data into useful and meaningful information, you will be successful.   In the end it’s all worth it.”