Insight from accounting firms across the country into current trends including budget, tactics, and the impacts of the COVID-19 pandemic.
COLCHESTER, Vt., April 7, 2022 /PRNewswire-PRWeb/ -- Despite new challenges facing accounting firms every year, the industry has proven extremely resilient in the face of adversity. To better understand the current state of the accounting industry, CPA Site Solutions, a market-leading provider of accounting websites, conducted a survey of 164 accountants, CPAs, bookkeepers, and financial planners across both sole proprietorships and larger, multiple-partner practices.
With clients increasingly turning online to find and research accounting providers, the following industry snapshot indicates accounting firms are following suit, to great success. Even in the midst of a global pandemic, CPA Site Solutions found that:
- 53% of respondents reported an increase in revenue in 2021.
- 15% survey participants reported annual firm revenue of over $1,000,000.
- Online marketing techniques were consistently ranked as most important for practices heading into 2022.
- When comparing top-performing firms with over $1,000,000 in revenue to their peers, there were notable differences in their business growth and marketing strategies.
ACCESS THE COMPLETE STUDY HERE.
Through its research, CPA Site Solutions found that whereas over half of all respondents (52%) had monthly marketing budgets of under $250, nearly two thirds (64%) of top firms with over $1,000,000 in revenue had at least double this marketing budget.
Not only that, but top performing firms ranked digital marketing techniques like search engine optimization, website, and online reviews as even more important (and traditional marketing techniques as even less important) than the overall sample.
"After comparing the strategies of top performing firms with the sample as a whole, it's fair to say that digital marketing has become a key component of a successful accountant marketing strategy," said Kelli Bock, Brand Marketing Manager at CPA Site Solutions.
"With so many firms already utilizing digital marketing techniques, accountants must really go the extra mile to stand out against the competition."
The company's recently released 2022 State of Accountant Marketing report gives insider insight into the strategies of successful accountants, CPAs, bookkeepers, and financial planners when it comes to growing their practices and overcoming industry challenges. While individual tactics vary, the common goal is business growth, efficiency, and profitability.
To learn more, download the 2022 State of Accountant Marketing eBook.
About CPA Site Solutions
In 1999, CPA Site Solutions was founded with the mission of helping accountants take advantage of the growing opportunities on the Internet. Since then, CPA Site Solutions has helped thousands of accounting firms reach their potential through our comprehensive suite of online marketing solutions including website design, search engine optimization, and social media management. To learn more, visit https://www.cpasitesolutions.com/.
Media Contact
Kelli Bock, CPA Site Solutions, (800) 896-4500, [email protected]
SOURCE CPA Site Solutions
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