New Tax Client Marketing Opportunity Pops Up

Sep 22nd, 2008 | By | Category: Marketing Professional Services

As I have tried to make abundantly clear to the members of my practice building tools website, as an “old, tired and ugly” retiree, I don’t keep up with a lot of accounting or tax law these days. But this little tidbit just slid across the desk in front of me and I thought it bore some further comment.

One of the big things that came along after I retired was the Sarbanes-Oxley Act. I had a few friends who were making a killing doing Sarb-Ox audits and bringing companies into compliance, but that was about all I paid attention to, as I figured it was limited to the world of publicly listed companies and would tend to level out as firms began to come into compliance. That was the extent of my knowledge, or interest. It was a short term marketing opportunity and out of my league as far as I was concerned.

But now I discover that the Public Comp0any Accounting Oversight Board has opened up a whole new world of opportunity with Rule 3523, “Tax Services for Persons in a Financial Reporting Oversight Role.”

In summary, this rule says that an audit firm must maintain its independence by not providing tax services to any person from an audit client if that person is in a “Financial Reporting Oversight Role.” For us, that means that any CEO, CFO, controller or other person in the firm who has oversight is up for grabs as a new tax client.

So now, what do you do?

First, you need a mailing list of all the executives at every public firm in your market area, and you need to invite them to one of your free tax planning seminars for persons at their level. You need to develop a correspondence and a consulting relationship with them, and you need to get them to trust you. Let them know of any speaking engagements you have coming up which you have scheduled (which Instant Practice Builder members get to give using the free leads, and direct mail letter available in Step 2 – Giving Seminars through the Instant Practice Builder members only portal). Offer them a printed and bound copy of one of your workbooks (which can be had free in the membership portal under Step 3, getting Published)

Next, you need to determine if these prospects are in need of a specialist or a generalist. If they need a specialist, then be sure to let them know of the areas where your specialization overlaps with their needs. Make sure they know that you are able to help them personally and individually and that they will not be passed off to a lower level staff member. Remember, these executives are the gateway to a tremendous networking and referral opportunity, and this one-time marketing opportunity can open the doors to a lot of new opportunities in a circle of prospects you have not had the opportunity to approach before.

Remember these are top level executives in public firms, and they are looking for superior professional service at a personal level, from a forward thinking tax professional they can trust.

Go for it. Time’s awasting!

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