Telemarketing is a proven and very effective method for getting new client leads and appointments, and in terms of numbers, it is probably the fastest way to grow your book-keeping practice.
With telemarketing you can either do it yourself, or you can engage the services of a telemarketing company. Obviously cost wise it will be cheaper to do it yourself, e.g. you purchase a data list of local business owners and phone them to see if you can be of service. This option is not for everyone, and you’ll need a pretty thick skin to do it yourself. However if telesales is something you have a flare for, you’ll find this acquisition method hard to beat.
The alternative is to engage the services of a telemarketing company, ideally one that specialises in the accounting sector. Costs vary depending on the company you engage, but a ball park figure would be in the region of £800 per month for around 4 confirmed appointments.
If you expect to sign up 50% of those clients at an average fee of £1,000 per client, your outlay/cost for the year would be £9,600, for an increase in your fee bank of £24,000. A good return, but you would have to consider that the clients joining may not have any immediate requirements, and you would have to factor this into your cash flow projections. To help your cash flow, you may want to consider getting all new clients signed up on Standing Order (or Direct Debit). This enables them to spread the cost of your book-keeping fees over the course of a year, and ensures you have an immediate source of income.