Brand Identity is more Important for Accountancy Firms than you think!

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Hi everyone,

A strong brand does more than just attract clients.

Let’s face it. The accountancy world is crowded. There are firms on every corner, all promising the same thing: financial expertise.

So, what does having a distinguished brand identity help achieve for an accounting firm? It helps impact how you make clients feel.

In a world where businesses are increasingly driven by emotion and story, your accountancy firm needs a brand identity that screams ‘exciting!!’.

Let me begin by asking you something, does your accountancy firm possess a personality?

If not, your firm is not alone. A Forrester report reveals that 74% of companies lack a brand identity.

The make-or-break ingredient here is a strong brand identity.

It’s what sets you apart and drives client loyalty. So, while numbers might be the backbone of your business, your brand is its heart and soul.

Trust is what your brand identity really communicates and strengthens over time. The Edelman Trust Barometer found that 81% of clients weigh in brand trust before doing business.

Therefore, it's crucial to clearly articulate your firm's values, mission, and unique selling points. Are you the detail-oriented number crunchers or the trusted financial partners? Again, what’s your firm’s personality?

If you’re finding it hard to wrap your head around that idea, here’s how you do it: a recognizable brand has three immovable characteristics that will change how the world interacts with you!

First, Visual elements. These are your firm's silent salespeople. In fact, colour boosts brand recognition by up to 80%.

If you're a traditional firm, a classic, understated logo might resonate. For a tech-savvy firm, a modern, clean design could be more effective. Your colour palette should evoke the feelings you want clients to associate with your firm - trust, innovation, or stability.

Then there is brand tone the voice of your business. Did you know, 32% of consumers prefer compelling storytelling by brands they follow or wish to engage with?

If you're a firm known for its expertise, a confident, authoritative tone might be suitable. For a client-centric firm, empathy and understanding should be at the forefront. Your brand voice should be consistent across all platforms, from your website to social media.

And last but not the least there’s Messaging – this one’s all about conveying your firm’s values and business proposition.

An HBR (Harvard Business Review) research showed that 64% of consumers cite shared values as the main reason for a strong relationship with a brand.

So, what problem do you solve for your clients? How do you differ from competitors? What community causes is your business supporting?

Your message should be clear, concise, and compelling. For instance, if you specialize in tax optimization, your message has got to focus on saving clients’ money.

With these three brand identity components aligned right, your accountancy business is all set to turn into a living, breathing brand! Being alive or not, really that’s the difference between having a brand identity and not in today’s marketplace.

If you still think brand identity is something that only suits large-scale firms with a global reach, think again.

Trust me, it starts by thinking of your brand as a strategic asset and not just a marketing tool.

Brainstorm with your team, put on some creative hats, craft some sort of brand guidelines, and take it from there!

Want to learn more about building a killer brand for your accountancy firm?

Read our full lesson on “Building a Strong Brand Identity for Your Accountancy Firm” from Samera’s Grow Your Accountancy Firm course.

Until next time,

Arun

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