Experienced BAS agents understand how valuable their services are to businesses of all shapes and sizes. They also know that plenty of business owners are willing to pay qualified and reliable professionals to deal with the Australian Taxation Office (ATO) on their behalf and find clients for their business needs.
Neither of these things, however, can guarantee that prospective clients will come knocking on their doors.
Finding clients is crucial for a BAS agent’s success, and many strategies can help in this endeavor.
As with any professional services company, attaining success in your BAS company requires building strong and lasting connections.
But given the wide range of clientele that you can go after, where should you start? Which methods will work best in getting your name out there? How would you know if you have reached your target audience?
Understanding the process of finding clients as a BAS agent can greatly enhance your ability to attract the right clientele. Knowing how to find clients effectively will help you thrive in this competitive market.
Why finding clients is essential
We will discuss various strategies for finding clients as a BAS agent. You will learn why employing the appropriate client acquisition strategies is critical and how you can wield various marketing tools to find clients effectively, ensuring a steady flow of high-potential clients to your business.
What attracts clients to BAS agents?
Businesses have different needs and expectations - but when you examine them closely, you will notice two common themes.
First, many clients look for the most convenient option that fits their budget. Some require consultants with specialised knowledge of the Australian taxation system because it falls outside their expertise. Others may have the ability to manage their tax computations and payments, but they lack the time and energy to carry out the necessary steps by themselves.
Finding clients not only sustains your business but also allows you to build lasting relationships that can lead to more referrals and opportunities.
The other determining factor stems from the clients’ need for peace of mind. Imagine how stressful it can be to run a startup while figuring out the proper way to lodge your BAS reports properly and on time. Even prominent and more established businesses can incur penalties if they are unaware of the latest tax laws and regulations updates.
Therefore, many successful BAS agents capitalised on these demands by:
- Highlighting how their services can save time and money;
- Showcasing their ability to reduce risks and errors in BAS lodgements; and
- Establishing a reputation as a dependable thought leader and advisor.
As you can see, attracting clients to your BAS company is not a mere numbers game.
You can try to appeal to everyone by offering every type of service you can think of. You may also pay for an expensive website or boost social media ads every day.
None of those efforts will matter if you cannot demonstrate why and how you can free your clients from the burdens associated with their tax obligations.
The importance of a client acquisition strategy
Competition in the professional services industry tends to be fierce, no matter your specialisation. To gain an edge over your competitors, you must embrace a well-developed client acquisition strategy. A solid plan for capturing your target audience’s attention will help ensure your business’s revenue growth.
Moreover, such strategies will allow you to use your limited resources better as a BAS agent. You know exactly where to aim to attain the best possible outcome. Choosing a platform to advertise your services won’t be confusing because you understand how to reach your target audience effectively.
The impacts go beyond the initial phases of the sales cycle. A strong client acquisition strategy will also determine your methods of converting leads to paying customers. It influences what you commit to your clients in order to create positive experiences for them and foster their loyalty towards your business.
How to find your dream clients
Businesses in Australia must comply with the demands of the ATO. That creates a large pool of prospective clients for BAS agents.
Here’s the thing, though: The key to the sustainable growth of your business is to limit yourself to a smaller pool of clients and give everything you’ve got into winning them over.
If that sounds counterintuitive, let us show you in this section how small yet successful BAS companies managed to employ this strategy and reap its benefits to the fullest.
Nail down your “ideal” client
No matter how extensive your marketing plan is, your efforts will likely be wasted if you will not refine your idea of who your target market is. Yes, you can technically skip this step and proceed with the execution.
However, there is a high risk of your budget requirement being bloated with marketing tools and activities that will produce disappointing results.
Let’s following Greg’s example. Greg, the owner of a management consultancy, engaged in thorough market research and used the results of his reserach as the basis for creating client personas. His objective was to find aspiring entrepreneurs who need guidance on operating a startup.
To further narrow down his search, he considered the following factors:
- Which industries he was most interested in working with;
- The amount of budget his ideal clients typically allocated to BAS compliances;
- The day-to-day struggles related to the taxation system faced by his target audience;
- His preferred means of communication and collaboration.
Based on Greg’s professional background and training, he believed he could provide excellent services to those in the hospitality industry, such as cafés, small hotels and entertainment companies. That was still too broad, so he decided to pick only the local food startup businesses.
According to research, most entrepreneurs that belong to Greg’s target demographics are single, well-educated, and passionate about their chosen field. Their usual struggles stem from having a weak brand, a lack of work-life balance, or the inability to control costs.
From this level of understanding, Greg could formulate unique value propositions that would attract and encourage his ideal client to pick him over the competition. He also had enough information to tailor his marketing efforts, thus allowing him to save on time and cost.
Word of mouth
Positive word-of-mouth is one of the most powerful marketing tools, especially for those who do not have a large marketing budget. That’s because your clients will essentially promote your business to others because they are satisfied with your services.
Engaging in a word-of-mouth strategy will require a comprehensive approach. As a BAS agent, you must start by providing excellent service to your clients. Delighted customers are more likely to recommend you to their circles.
Going the extra mile can boost your reputation and increase word of mouth. For example, Glenda, who runs a small payroll processing agency, is beloved by her clients for being a flexible problem solver. The skills she has honed over the years give her the confidence to take on last-minute requests or issues that leave others scratching their heads.
As a result, many of Glenda’s clients have discovered her agency through the recommendation of the business owners she had assisted. Her expertise, professionalism and willingness to extend help wherever possible got her name out there without spending exorbitantly on marketing campaigns.
Ask for referrals
Many BAS agents, especially when starting about, shy away from the thought of asking for referrals. It is seen by many as a big, risky deal - essentially requesting others to put their reputation on the line when they recommended your services.
If you make an error or fail to deliver, the person who referred you might also get blamed for your shortcomings.
It is important to get over this, and get over this quickly.
Let’s look at the example of tax agent Henry. Henry has realised how to ask for referrals without feeling dishonest or undeserving. For professionals like him, the key is to have a concrete reason to support the request. Generic messages won’t do. He learned to personalise by:
- Referring to the person by name;
- Reminding them of the positive results he had delivered;
- Expressing how a referral would help his business;
- Clarifying that his ideal clients are wineries and wine wholesalers or importers; and
- Explaining how tax compliance services would protect such businesses from hefty fines and other penalties.
This structure also made Henry more confident. He could see why he was worthy of a referral, and eventually, this pragmatic mindset impacted how he engaged with his prospective and existing clients.
Website and SEO
Finding clients as a BAS agent can be more effective if you create a website and optimise it as a lead generation tool. An excellent professional services website showcases your credibility as an expert in the industry and the value of your services. It should also inform others about the best ways to reach you in case they have questions or are interested in doing business with you.
Some BAS professionals assume they do not need a dedicated website, thinking social media profiles serve the same purpose. They couldn’t be more wrong.
For professional services companies, a website with SEO-optimised content can attract your target clients, strengthen your reputation, and keep your business relevant. This is because your website will be structured around the questions that your ideal clients are asking Google.
For example, like “accountants for small businesses”, “tax agents for the construction industry” or “tax help for tradies” can be used to create landing pages on your website targeting that precise keyword.
A well-structed, SEO-friendly informative website can help you generate high-quality leads and solidifies your credibility and reputation.
Social media advertising
Nowadays, professional services companies have plenty of social media platforms to choose from. Most are free to use, but they also offer paid packages to boost the exposure of ads or target specific user demographics.
Not all social media platforms work well with B2B marketing. Further, platforms attract different types of people and businesses. For instance, Greg’s research indicated he would have more opportunities to connect with his target audience - food business owners - on Facebook and LinkedIn.
By running Facebook or LinkedIn ads, Greg could reach local restaurateurs interested in improving their time management skills. He might not immediately find out who those prospective clients are, but directing them to his website through the ads can do wonders for his brand awareness and revenues.
Content marketing
Content marketing is vital in professional services because - ultimately - you will need to educate a client base often before converting into clients.
This strategy refers to creating and sharing high-quality and useful content that will enable you to position yourself as a thought leader or expert and ultimately gain the trust of prospective and existing clients.
Mike, for example, turned his website into a channel for his content marketing campaigns. In addition to the blog posts, he eventually added another section where his website visitors could sign up for paid webinars on public speaking. He promoted this initiative by guest blogging on sites frequented by young professionals and posting short clips of his webinars on his official YouTube channel.
To further sweeten the deal, Mike threw in a free e-book on the basic guidelines that beginners should know. Anyone who signed up for his webinars could also receive one free consultation so that he could have more chances to demonstrate the value of his services to prospective clients.
Over time, Mike established himself as a top resource person in public speaking, which effectively boosted the overall impacts of his chosen client acquisition strategies.
Email marketing
BAS agents should use this marketing strategy to generate, stay in touch and convert leads into paying clients. This comes in various forms, depending on your objectives.
For instance, Glenda sends welcome emails to everyone who signs up for her mailing list. The content she then regularly sends out after this is straightforward yet compelling. She would give a quick rundown of her payroll processing business and offer a special one-time discount to encourage the reader to try her services.
Moreover, once a person has joined the mailing list, they can expect a weekly newsletter from Glenda. The content varies, but each email contains a clear call to action to consult her regarding payroll matters.
Glenda would also occasionally send email blasts whenever she launched new services, exclusive content, or other promotional materials on her official website. Through these efforts, she remains at the top of mind of individuals and businesses seeking a dependable payroll professional.
Networking
BAS agents can look for clients by expanding and tapping into their networks of fellow BAS professionals, accountants, and business owners. This type of marketing involves approaching people in those circles and being prepared to answer inquiries about your services, professional experiences, and rates.
There are plenty of networking opportunities available in Australia. For example, professional organisations such as the Australian Society of Certified Public Accountants and the Institute of Certified Bookkeepers Australia should be on your list. By joining the events hosted by these groups, you will meet prospective clients or learn more tips on where to find them. Such events can also give you access to various resources for your personal and business growth.
We also recommend being involved with your community. Greg, as an example, volunteered to give free management introductory classes in the local business centre to share his knowledge and promote his services. Though his classes are open to all aspiring entrepreneurs, there would always be one or two attendees who match the profile of his ideal client.
These qualified leads have a higher success rate since they recognise the benefits of having a consultant for their growing business.
Explore general ledger directories
Local and online directories are published by the chambers of commerce and business associations to provide access to essential information about the listed professionals and companies. Many verify the information beforehand so directories can also signal legitimacy and relevancy.
As a BAS agent, you should look for directories of accountants, financial consultants, and tax compliance experts in your area. Register yourself to increase your exposure to prospective clients. Though this may seem more passive than the other methods, you can actively use it to demonstrate your credibility, provided that you have joined a directory that certifies your knowledge and skills as a BAS professional.
Case in point, Henry signed up his business to the National Directory and the local service directory. This initiative generated leads since he carefully listed his services, such as computing the wine tax amounts that must be included on the BAS or providing advice on appropriate pricing for wine products.
Whatever directory you decide to join, you must give complete and accurate information about your business. Anything less will defeat the purpose of this marketing channel. In case of any changes, be sure to update your profile in the lists you have joined.
Develop a referral network
We can’t underscore enough the power of referrals for BAS professionals. Imagine how significant the impact will be if you could create a network of people who feel motivated to refer your services to high-potential leads.
A referral network can be structured in different ways and is not limited only to your clients. You can also ask other professionals and employees to join. If you establish a formal referral program, anyone interested can become your referral partner, too.
The determining factor of a successful referral network is the reward or incentive that you will give to whoever can produce a lead that eventually becomes a paying customer. It can be through direct cash payment - for example, a certain percentage of the sales generated. Others prefer giving choices of prized items, discounts, or exclusive deals. The ideal type for your business depends on what will motivate your network the most.
We recommend establishing a standard program so that you can keep track of your network’s performance and identify the top sources of your valuable leads. Doing so will allow you to nurture those referral partners and manage the sustainability and expansion of your network.
Remember - don’t ignore existing clients
Attracting new clients to your business is essential for its stable and long-term growth. However, that does not mean they should be your sole focus as a BAS agent.
You must balance your client acquisition strategy with your efforts in keeping and nurturing existing clients. Why?
- The cost of closing a deal with a new client can cost up to five times more than you will spend on taking care of a current client.
- Your business will also benefit from good word of mouth from your existing clients to other members of your target audience.
- Repeat customers tend to spend an average of 67% more than those who have just started doing business with you.
- Showing how much you value your existing clients will encourage them to stay with you even if alternatives attempt to entice them away from you.
Ultimately, your existing clients can affect the bottom line more than their newly acquired counterparts. Your marketing costs will likely be lower without sacrificing revenue growth and customer satisfaction.
However, relying solely on existing clients is not enough. You must actively seek new clients to ensure long-term growth and get ahead in your industry.
We recommend harnessing the reputation you have built by amassing loyal and satisfied clients in enhancing the client acquisition initiatives of your BAS company.
Final thoughts
Finding clients as a BAS agent can be challenging, whether you are new or a veteran. You can increase your chances of success by establishing a marketing approach that facilitates a steady stream of new and repeat clients to your business.
You don’t have to stick to a single method or platform, but you also must refrain from spreading yourself too thinly by adopting every tool available. Develop your strategy based on what you think will be the most effective ways to connect and engage with your ideal clients.
Remember to be patient and persistent, though. Professional services companies typically do not achieve such goals overnight. So, don’t feel discouraged. Perform your best to get referrals from satisfied customers. Stay in touch with the right people, and keep looking for new opportunities to market your BAS services. Eventually, you will reap the benefits of taking a proactive approach to acquiring clients.
Continue your journey with more of our in-depth content.
Discovering effective ways to find clients can differentiate you from competitors and establish your reputation in the market.
Remember, the journey to find clients is ongoing and requires continuous effort and adaptation.