Welcome to Luca!globe
Untitled Article Current Issue!    Navigation Tips!
Main Menu
CPA Journal
Professional Libary
Professional Forums
Member Services


By Troy A. Waugh, CPA, Waugh & Co.

Marketing programs create leads. But leads do not convert to new business without management and sales techniques. Here are ideas to help you convert leads to clients:

Take Action

Not following up with leads immediately causes potential sales conversions to decline dramatically. The prospect thinks you are not interested in serving it if you delay in your response. Further, your response time to a lead's request is an indication of your response time when the company becomes a client. So take action quickly when you receive an RFP, a telephone inquiry, a trade show lead, a referral, or any other type of lead.

Focus on Referrals

Referred leads are the most valuable. When you receive a referred lead, the selling has been done by your source. If you act quickly on referred leads, it will reflect well on your sources, and they will be inclined to send you more.

Evaluate the Lead

Some follow-up on every lead is a good idea. However, evaluating the lead will enable you to follow up more quickly with the better prospects. Ask the lead or the referral source about problems, needs, the decision process, and ability to pay your fees as early in the process as you can. Going through the sales process with a person, only to learn he or she is not a part of the decision influencing, is frustrating.

Have a Follow-Up Plan

Set aside a definite time for contacting and courting a lead. Unless you set aside time in your calendar, its value can dissipate rapidly. If you are fully booked, fire off a letter or call the lead to set a specific time to meet.

Add the Lead to Mailing List

Every firm should have a marketing data base. When you obtain a lead, the information should be permanently recorded in your data base. 'A' prospects should receive regular and personal attention, whereas 'C' prospects can be handled by mail.

Give the Lead to Someone Else

If you cannot follow up the lead, or if the lead is of little interest to you, give it to someone else in your firm. Selling is a team effort. Ask your designee to keep you informed as to the progress of the prospect. And offer to help where you can. *

The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.

©2009 The New York State Society of CPAs. Legal Notices

Visit the new cpajournal.com.