Do you want to work with fewer clients, for fewer hours, and get paid more money? It’s possible! And, I’m going to teach you how to attract high net worth clients in this blog post.
That almost sounds absurd, if you look at how many accountants structure their firms.
All around you, accountants, CPAs, and bookkeepers work long hours, with many clients, and for just ok levels of pay.
Then, you see people like Dominique Molina. She works with just 26 clients, and her packages start at $25,000. She has time to provide high value to her clients, AND work for a non profit in most of her time!
How does she do that? How can she leverage her business to bring the income that she wants, serve the clients she chooses, and have the time to do other things she is passionate about?
Dominique has attracted an abundance of clients with high assets. She has clearly defined the value that she has to offer them, and when she speaks, they listen. They are happy to pay her for the incredible value & knowledge that she has to offer!
Are your clients high net worth? Are you ready to start attracting these high net worth clients in your business?
In this blog post, we’re going to get Dominique’s secrets to attracting High Net Worth Clients for your accounting firm. She’s here to share three things that you may be doing that repel these clients, and then, four things that you can do to attract them to your firm!
When you implement these strategies, you just may find that your firm completely changes as you start attracting the exact types of clients that you want in abundance.
Three Ways You May be Repelling High Net Worth Clients
#1: You don’t have a high value offer
What makes a client pay premium prices?
There are thousands of people who offer accounting, bookkeeping, or tax preparation services.
So what makes some of them able to command higher rates than others?
The simple answer is value. They have found a way to set themselves apart from everyone else in the industry.
A high net worth client is going to be looking for someone who is unique and special in their offerings. These niche offerings allow that accountant to be able to provide the most targeted value for those high net worth clients.
If you want high net worth clients, you have to offer them something that will be worth spending more money to have YOU specialize and be the expert in!
#2: You haven’t identified the market you’re going after
Most accountants start their businesses with a vague ideal client: basically, anybody that breathes and has a heartbeat.
However, that will hold you back in growing your firm.
If you want high net worth clients, you have to know who they are. You have to know how to recognize them.
Don’t know them? Reverse engineer the process to figure out exactly who they are and how you can find them.
#3: You don’t understand how high net worth clients make buying decisions
Do you have a $25 off coupon on your website?
If I’m going to sell a $25,000 package to a client, a $25 coupon won’t make them want to work with me – in fact, it may be a huge deterrent!
High net worth clients are going to see that, and that will impact how they view your services.
If words say that I provide high value, then actions should align with that claim.
Another struggle is not knowing where to target your efforts. Social media? Direct mail? How can you target those clients that you want in abundance? If you don’t know how they make buying decisions, then you can’t market to them effectively! In fact, you’ll do a lot of work with no results.
These behaviors may repel those high value clients … but your business doesn’t have to run that way.
How to Attract High Net Worth Clients to Your Firm
If you see yourself in any of the behaviors that repel high net worth clients, it’s not too late to be able to turn your business around, and change your practices.
Here are four ways that you can turn your business into a magnet to attract those high net worth clients.
#1: Have a high value offer in your business
Have something special that sets you apart in your firm. Dominique, for example, specializes in tax reduction services.
She saves her clients millions of dollars in taxes!
That means, when they need her services, they don’t hesitate at her costs. She provides such specialized, high value that they can’t get anywhere else – and they know that! She is an expert and specialist in the field of tax reduction for high net worth individuals.
By choosing to specialize, Dominique quickly differentiated herself from all the other accounting professionals that her clients could have hired, and commands the prices that she wants.
#2: Know your market
You know exactly who you want to target, and you know the value that you have to offer them.
You can identify them quickly, and you know their needs.
Once you identify them, and can pick them out of a crowd, you’ll be able to reach them with precision. You’ll make sure that you’re where they are, and that they see you everywhere.
You’ll be present, and they’ll get to know your name.
You’ll be the one that they call when they need help setting up a new legal entity. They know that you’re the one who will help them save hundreds of thousands of dollars in taxes.
Once they know the value that you bring them, they’ll never want to let you go!
The best part is, once you’re in, the referrals stack up! Remember, decisions that big are based on relationships, and you want to be the one that they talk about you when they discuss business needs with their colleagues.
#3: Know how high net worth clients make buying decisions
Once you know how your ideal client makes buying decisions, you can close that sale and enroll your new prospect into working with you.
For amounts as big as $25,000, these clients don’t just respond to advertisements or coupons. A letter tucked into a direct mail packet isn’t going to bring them to your firm.
They’re going to thrive on recommendations and relationships. As you get to know your ideal client, they also get to know YOU.
The relationship matters.
You also know that these high net worth clients often aren’t looking for someone to just complete one task. When they trust you, they are going to want you as part of their business for the long term.
As you show your value over and over again, serving those who are part of any particular industry, your name will come up! They’ll know who you are, and trust your reputation.
#4: Know where high net worth clients are
Once you have identified the type of client that you want to work with, go find them!
Where do they hang out, and where do they go? Are they at any conferences in particular that you can attend? How can you meet up with them? Even if they remain virtual clients, make a point to go and shake their hand, and get to know them in person! This allows you to continue to build your relationship with them.
Here’s a bonus tip: don’t do it alone. Don’t be the lone wolf in the industry. Find someone else who also markets to this ideal client, and tag team. Are you an introvert? No problem! When there are two of you, you can take turns. By sharing the work, you both get to share in a win and offer an even greater value!
Your behaviors can attract or repel high net worth clients. When you find ways to make sure all of your behaviors align with that which attracts high net worth clients, you will be able to work fewer hours, serve fewer clients, and have time to do the other things that you love!
Look at your current business. Do your behaviors attract, or repel high net worth clients? If your behaviors are repelling high net worth clients, what can you change to attract them?
P.S. Over the last 18 months, I’ve been perfecting something called the Selling Without Ever Selling System. Up until now only my high-end clients have had access to this information. But I’m so excited about this that I’m offering you a free coaching session so I can share this information with you too.
This system is all about getting your IDEAL clients coming to YOU and finally getting paid what you’re worth so you can build your dream practice and still have the time and money to enjoy your family and kids. If you’re tired of waiting around for business, relying on busy seasons, or guessing at what works, this free coaching session is for YOU.
Learn more at theabundantcall.com.