Gen X and Y are technologically savvy and they expect you to be the same. They ‘live’ on Facebook, use Twitter and Google everything on their mobile devices and smart phones.
They also expect you to have a modern look and unique brand. If your current branding doesn’t appeal to this demographic it could be time for a makeover.
Not just your business card
If you associate branding with just the physical artifacts like your logo, letterhead, colour scheme, slogan and signage – think again. Branding is considerably more complex, and every interaction with a client or a prospect affects your brand image. Everything from the way your phone is answered to your website impacts on your brand. Your mission is to create awareness and build the firm’s reputation in the mind of clients and prospective clients. You want your brand to be memorable, create client loyalty and survive the test of time. I don’t believe anyone is good enough to create all that with graphics alone.
The branding process starts with identifying your target markets. If you don’t specifically market to certain niches, you should. Your brand must resonate with their key values. Clients need to feel you have delivered on everything that your external branding promised. This builds trust and wins referrals. Let’s examine the branding tangibles.
What’s in a name?
Many accountants struggle when naming their business. The majority of sole practitioners opt for ‘vanity’ names that incorporate their personal name (John Doe & Associates) but these names no longer cut the mustard with Gen X and Y. Similarly, business names that are a combination of partner surnames (Smith, Jones & Johnson) will ultimately date your practice due to retirements, natural attrition or, more commonly, partnership breakdowns. These names are meaningless to prospects who find you online.
Using initials in your business name like DEF Accounting is also dated (except for a well- established brand like KPMG). Some firms feel the need to create a search engine-friendly business name like, ‘Melbourne Accounting Services’, however, this is unnecessary given search engine optimisation techniques. Using geographical locations in your business name is very old-fashioned and limiting in today’s global business world.
Your business name should say what you do and resonate with your ideal type of client. To illustrate this point, a business name like ‘Build Wealth Accountants’ makes a statement and will stand the test of time.
Your slogan
Your slogan or positioning statement should convey what your business does and how it does it. It should ‘talk’ to your ideal type of client. While slogans have always been around, the current trend is to closely tie them with the logo design itself.
Ideally your slogan should articulate what makes you different from other firms. In a single sentence, what are you trying to achieve with your clients? For instance, Build Your Business, Grow Your Wealth is very clear.
Most importantly, your brand will live or die on this statement because it is the promise you make to your clients and prospects. For some firms, simply adding a slogan could make all the difference to their brand.
Does your logo speak?
A logo is also an essential part of your brand and business identity. An impressive logo combined with an intelligent and meaningful slogan can have a strong impact on the way clients and prospects perceive your business image. Here’s an example.
A well-designed, professional looking logo that signals to clients the quality, professionalism and strength of your firm can make or break your branding. The design should speak with the clarity of a bell. Keep colours to a minimum and use more formal fonts.
Consistency is the key
You can’t achieve brand awareness without repetition and consistency. Make sure your business card resembles your brochure, website, email signature and other marketing collateral. You might also consider registering your brand and image with your local patent office to prevent competitors from using your look.
Accounting firms today are at the crossroads – not about their image, but how they are perceived in the minds of their clients and prospects. If you want to appeal to the next generation of clients it could be time for a makeover.
