Data is coming at us from all directions, but do we know the source and what to do with it. Rebecca Weiand, Practice Growth Specialist at Rea & Associates and the 2018 AAM Volunteer of the Year, discusses the different sources of data that most accounting firms can pull from (i.e., internal client and billing data, marketing automation tools, website analytics, social media, and industry/market subscription services) and what to do with all of it. It’s not the data itself that is useful, but rather the tabulation, analysis, reporting and informed decision making that the data allows to happen.
Where to Begin?
Beginning with your own client data, analyzing where clients are located, which industries they operate in and which niche within those industries can reveal a great deal of information on a firm’s specific expertise and to identify the unique needs of a client subset. Data from website and marketing automation tools can show you what content is effective and what is/is not working.
Whether you are just starting out using an Excel spreadsheet to capture and report on data or have been working with data for years and are leveraging the more robust integration tools, doing something with your data is better than ignoring its potential. Don’t feel that you have to go out and hire a full-time data analyst to start benefiting from the data that you already have access to. Start where you are and build upon your successes. We all have the responsibility to help strengthen and grow our firms and effectively listening to your data is one of the best ways to accomplish this directive.
The Association for Accounting Marketing has a monthly podcast, AAMplify!, that covers a wide range of topics related to marketing and sales in a CPA firm. You can subscribe to the series via iTunes, Stitcher or YouTube.