RSS feedsIAAITC’s recent online survey of more than 1,000 accountancy firms across 10 cities in the UK revealed some disappointing findings. The survey looked at the ‘find an accountant’ section of the websites of three main professional bodies – ICAS, ICAEW and ACCA.
Astonishingly, only 10.8% of firms publish the fact that they have a website and only 14.3% provide an email address. Disappointingly, the survey also noted that most firms don’t even keep their entries up to date in terms of basic details such as telephone and fax numbers.
The survey also revealed some interesting regional variations. Reading came out particularly badly, with only 6.7% of firms promoting their websites and 8.6% providing an email address. Conversely, in Aberdeen, nearly 55% of firms have websites and 76% provide email addresses.
These findings were discussed at a recent IAAITC conference and the comments made by many of the firms present were revealing. Many said: ‘We don’t need to do any marketing as most of our business comes from referrals.’ Others said: ‘We’re too busy to do any marketing.’ While in no way doubting the veracity of the comments, they do perhaps warrant consideration. The captain of the Titanic was, after all, very busy even as the ship was sinking beneath the waves. The fact that his activity did not stop the ship sinking is a matter of historical fact.
The belief that most business comes from referrals is the most interesting finding. The reality is, given a referral or introduction to any new business or service, potential customers will either seek out your website, or they will not. So why is this the case?
There is undoubtedly a generation gap. My father, who is in his 80s, would not dream of finding an accountant on the internet. My two daughters, however, both in their late 20s, use the internet to research everything. One has actually used it to plan her wedding – to locate everything from the venue, cars, photographer and even her dress.
If the business does not have a website, or if the website is unhelpful, she will not consider it. Ironically, if the site is informative and meets her needs, she will travel as far as 50 miles to visit the business. And it may well be that a local business could offer the same or better service, but not having an online presence makes it nonexistent.
Having been around the profession for nearly 20 years, I know you are thinking businesses do not buy accountancy services that way. Of course, many do not. But as businesses of all shapes and sizes embrace the internet to promote their services and sell their goods, why would they want an accountant or business adviser who is obviously living in the dark ages?
Many businesses today are grappling with the challenges and opportunities of having an effective web presence. They are creating online stores with integration into the accounting and stock system, and some form of CRM system. Who is going to give them the best business advice: the accountant who understands it all, or the accountant who won’t even use the internet to promote their practice?
The answer is obvious and those accountants too busy to do any marketing, or able to rely on referrals, should take a look at the quality and type of work they are gaining. Some firms are increasingly becoming interested in the ‘business advice’ market, where recovery rates of 120% to 140% are the norm.
By relying on referrals for business, you are actually – probably unwittingly – allowing them to decide how your business develops. Bank managers are likely to refer business to the most appropriate accountancy firm. They will not necessarily recommend the jobbing plumber to the same firm as the growing business that wants to trade online. Would you?
Name of the game
Creating an effective internet presence is not difficult. A number of specialist providers create and maintain websites, but these services may not be appropriate for small practices.You need a domain name, along the lines of www.yourpratice.co.uk. If you can’t get the right .co.uk, don’t worry, there are other .uk registrations available. Don’t use a .com registration unless you really plan to do business in the US. Be inventive. Lots of IT companies use .it, which is used in Italy, but it works.
You will also need staff email addresses, along the lines of yourstaff@yourpractice.co.uk. Don’t be clever and set up info or other aliases, unless they are really going to be answered. A staggering 98% of the emails we sent to these type of addresses as part of our survey never got a reply.
Your website should communicate basic information about your firm – who you are, what you do, where you are located. If you are a sole trader and specialise in a particular type of work, include case studies on the site and be prepared to keep it up to date.
So, how much will all this cost? Well, Microsoft will soon launch a free service, but you will need to do much of the work yourself. The IAAITC offers a service for members, which costs about £200 per year for both the email and web services and provides a library of content for the firm to work with.
David Reynolds is chief executive of the Independent Association of Accountants Information Technology Consultants
