Chartered accountancy is one of the most sought-after professional courses in India, but clearing the three-level CA programme is not easy. However, once done, it sets you up for a promising career.
Dhenil Shah, a CA based in Rajkot, has a decent career. From his small office in a busy market area, he focuses on taxation, auditing, financial reporting, insolvency, and accounting systems and processes.
His clientele keeps him busy, but he feels he has time to take on more clients. On speaking to a few friends and professionals, Dhenil realised that he could be missing out by not taking his services online.
The idea was to offering end-to-end services and make his clients rely on him completely. He got online and is now working towards his many goals and aspirations.
Shouldn’t every CA be doing the same? Here’s how an online presence can benefit a CA business:
1. To create a niche market
Very often, most CAs want to do everything and often end up doing little. They spend hours communicating with all kinds of clients who have diverse requirements but need to know that focusing on a particular set of clients could be more profitable.
For example, if a CA specialises in GST-related services or book-keeping, s/he can promote this niche instead of trying to concentrate on multiple specialisations.
A website and digital marketing strategy can help promote this speciality so that the CA becomes the person to turn to when looking for these specific services.
2. To provide value-added services
Amid the competitive market, individual CAs and CA firms face the challenge of acquiring and retaining clients.
To make your services an even more attractive proposition for existing and new clients, getting online can help you offer and promote other good-to-have services.
These include offering help with bank financing, helping clients procure loans, making feasibility reports, and offering assistance in strategic business planning, cash flow management, succession planning, new business formation, and business valuation.
3. To showcase your expertise
Sharing online allows you to create an online personality that reflects your personal values and professional skills. The content you create and share should be aligned with this, and it’s important to remember your conduct online is now just as important as your offline behaviour.
Use your online presence – the website as well as social media networks – to showcase your expertise via blogs, articles, and easy explainer videos to explain topics that are relevant to your field.
4. To network with the right people
CAs tend to get the majority of their work from referrals, which makes networking mandatory. Being empanelled with the CAG, RBI, NHAI, and other regulatory bodies helps your reputation – and your online presence can showcase this successfully.
Apart from connecting with professionals in your and other related domains to maintain your expertise and enhance your reputation, you need to network with clients on a regular basis to stay connected.
Old clients often lead to new clients – and networking is the only way to stay connected.
5. To make alliances with other professionals
Networking puts you in touch with professionals in different domains and an online presence lets you join hands with them to benefit your client – and you.
Connect with firms that provide services that you don’t – it could be investment advice, recruitments, technology, or legal representation – and build a referral-led alliance. You can refer your clients to them when needed, and they will do the same for you.
This means that you and other professionals have a continued line of business – and your clients get all the services they need without wasting time.
6. To use social media and content marketing to grow
Every big and small business across the world knows the power of social media these days. Social media marketing can be the most inexpensive and powerful marketing tool that you can use to build trust and authority that helps grow your business exponentially.
Using relevant content on social media can help grow brand awareness, promote your services, and increase your traffic.
7. To focus on emerging areas
The number of CAs in India is far less than the demand, which means chartered accounts can grow their area of business as well.
Apart from services in traditional areas such as audit, taxation, financial reporting, and others, they can look at GST practices and compliance, valuation, international taxation, forensic accounting, and entry strategies for overseas companies.
Over time, these could become an important part of your business and could help it grow.
8. To expand your business
An offline office can bring you only so much business. If you want more, you will need to target other areas in your city, which an online presence can help you do successfully.
After that, you can grow and strengthen your digital business by aiming at smaller towns and cities, which comprise Tier II and III India, and where there is a lack of quality chartered accountants.
These days, remote working has made sure that business can be conducted anywhere – and your website can help expand your business.
9. To get closer to your customers and build loyalty
A strong online presence allows you to interact with clients across India and the world easily, building a community of sorts.
Your 24X7 presence makes you accessible all the time and lets customers reach out to you with complaints, feedback, reviews, and more.
Listening to your customers and working on their feedback is the best way to show them that you care and build loyalty.
In today’s digital age, a CA is missing out on many opportunities if s/he doesn’t have an online presence. Boost360 can help you with this and more.