Key points
- Strong branding is based on a well-defined mission, clear value proposition and distinctive identity.
- Building brand credibility requires repeated demonstrations of expertise, both online and in real life.
- To drive brand awareness and resilience, accountants should be consistent on social media, partner with other brands and be prepared for crises.
We asked Charmaine Schembri, marketing and branding coach, and founder, Little Miss Social, and Louise Marsh, managing director, Corporate Conversation, to share their top tips for branding.
Why does an accountant need strong branding?
“In the world of finance, trust isn’t just a perk – it’s the foundation of every client relationship,” says Schembri. “For an accounting firm, a strong brand is like a badge of honour. It’s more than just logos and colours; it’s a declaration of your reliability and top-tier expertise.”
She says when clients see a “polished brand, they don’t just see competence – they see excellence! It’s the silent but powerful message that says, ‘We’re not just any accounting firm; we’re your go-to financial gurus’”.
Indeed, your brand goes hand-in-hand with your reputation.
“Reputation makes up to 25% of a company’s market value, according to a World Economic Forum study,” says Marsh. “The consequences of reputational damage experienced by PwC, Qantas and Optus highlight the importance for any business to build and maintain a resilient brand.”
Branding does not stop at the company – the individuals behind it need to consider their own brands. “In accountancy, a strong brand reputation generally comprises two components – a firm’s overall corporate reputation, supported by the professional personal brands of key executives and advisers,” says Marsh.
Tip 1: Articulate your mission
Your brand should reflect your goals. So, before getting to work, it is essential to determine your firm’s purpose.
“Define your mission and vision,” says Schembri. “Spell out why you exist and where you’re heading with your brand.”
Charmaine Schembri, marketing and branding coach
One firm that mastered this is Queensland-based New Wave Accounting and Business Advisory.
“Not only does New Wave have a clear display of its offerings; its messaging is clear to its audience: ‘We help businesses minimise tax and maximise profits’ – they tell you the problem they are solving right away,” says Schembri.
“They then back up this message with, ‘Transforming overwhelmed operators into savvy business owners’ – again, they are solving a problem, while demonstrating they are educational in the process.”
Having a clear mission like New Wave’s one helps build a brand strategy around a core goal. “[Goals] may include growth in client and service areas, workforce attraction and retention, and merger and acquisition activity with other accounting firms,” says Marsh.
Tip 2: Determine your value proposition
Once your mission is clearly articulated, it is time to consider your value proposition that makes your firm appealing to prospective customers.
This requires six steps, says Schembri. These include:
- Identify your target audience by understanding who your ideal customers are and what they need.
- Understand your service by clearly defining what you offer and how it solves your audience’s problems.
- Analyse your competitors by studying them to find gaps and opportunities for differentiation.
- Highlight benefits by focusing on the unique benefits your service provides.
- Craft a clear message by developing a concise statement that communicates your unique value.
- Test and refine by gathering feedback from a small, select set of customers and adjust your proposition as needed.
Tip 3: Create your brand identity
With your mission and your value proposition articulated, the next step is to develop your brand identity. Schembri advises clearly defining your target audience throughout the process.
Your brand identity should be made up of four main elements. The first is your core values. “Identify the guiding principles that fuel your actions and deeply connect with your audience,” says Schembri.
However, while values should form your brand’s foundation, you’ll need personality to make it sell. “Decide on the human traits that your brand should embody, making them relatable and memorable,” says Schembri.
The final two elements – your look and your voice – are where some creativity comes in. “Design a logo, pick appropriate colours, choose fonts that work and develop your visual style,” says Schembri. “Then find your voice. Determine how your brand speaks to the world. Is it casual and friendly? Professional and authoritative?”
Tip 4: Build credibility
Once your brand identity is ready to go, the next step is launching it into the market.
However, winning the trust, respect and loyalty of audiences does not happen automatically.
Louise Marsh, managing director, Corporate Conversation
For accountants, it’s essential to build credibility. This requires repeatedly demonstrating your knowledge and experience – online and in real life. “For example, you may have a business goal to grow a particular service area within a particular industry,” says Marsh.
“Activities to support this may include sharing subject matter expertise via media coverage or a blog post, or asking one of your clients to share a testimonial about their experience with your firm.”
One of Marsh’s clients, William Buck, built credibility through a relationship-driven approach with clients and staff. “William Buck is a great example of an accountancy firm with a strong brand reputation,” says Marsh.
“Its [relationship-driven approach] is woven through marketing and communication activities showcasing the firm’s people, research, insights and community support across a range of traditional and digital channels.”
Tip 5: Drive awareness and strengthen brand resilience
Ensuring your brand continues to draw attention in the long-term requires a variety of strategies – and dedication. “Be present on social media,” says Schembri. “Show up consistently, provide valuable content and engage with your audience regularly.”
Partnering with other brands can be a powerful way of expanding your reach. “Everyone needs an accountant or accounting service!” says Schembri. “Look for brands that share your target audience and values. Explore partnerships where you can offer their audience exclusive insights or special services.
She advises partnering with other businesses to build brand trust. “If brands people love and are loyal to trust you, it is likely their audience will follow suit,” she says.
Finally, it is important to ensure your brand is robust enough to survive unexpected events. “It takes years for a business to develop a good reputation,” says Marsh. “While an issue or crisis might not be of your making, how you respond to it is within your control.
“Undertake media training for your key people and have a crisis plan in place – and test it regularly via live crisis scenarios.”
