Proposal software can be helpful, but it won’t move the needle on converting more

clients or increasing your revenue. Learn why and what to do instead.

 

(Watch or listen to the full version here)

The Big Myth

Every week I work with small tax & accounting firm owners helping them implement ways to grow their revenue. 

One of the biggest misconceptions we hear goes something like this, “I just need to find the perfect proposal software and then I’ll be able to bring in more clients”.

This is fundamentally incorrect.

But the belief that proposals software alone can have a significant impact on your revenue, should be squashed.

It’s true proposal software can be helpful as one part of the client onboarding process for bringing in new clients, but the idea that just using a proposal tool will magically increase your revenue is a complete myth.

Here’s why…

The Tax & Accounting Client Journey

Think about the natural journey a client takes when considering paying you for help, working with a competitor, or choosing to do nothing at all…

Phase 1 | Identifying the Problem

  • Here the client is defining what issues are causing the most pain in their life and might be worth paying to solve.

     

  • Some clients already know the cause of their pain. Some clients need to be helped to diagnose it through a Discovery Process with you. Your main goal during this first phase is to specifically pin-point, “What does this client really care about?”.

     

Phase 2 | Identifying Solutions

  • Once a pain point has been identified, the client needs to be educated about their options for solving it. Here is where the client and you work together to verify:

     

    • A | Are there available solutions to actually solve the problem?

       

    • B | Does the scope of the problem align with the cost of solving it so each of us can achieve a tangible ROI (Return On Investment)?

       

    • C | Is working together to solve it a possible solution? Or should we be spending our time, energy, resources elsewhere?

Phase 3 | Engagement Logistics

  • If viable solutions are identified, the next part of the journey is where you as the professional need to do some analysis and make some decisions:

     

    • What options for engagement would match the specific goals of this client?
    • How much should I charge for my part in implementing the solutions?
    • Why is that price point good or bad? How do I know it will work out for both parties if we do engage?

       

  • Based on your analysis and answers to these questions you would then educate the client about their options for getting help (aka “Propose specific solutions & prices”).

Phase 4 | Delivery

  • The last phase is actually delivering the solution the client wants to receive for their payment.

     

    • The trick here is having a simple & repeatable process that you and your staff can use to deliver specific outcomes the client cares about.

       

    • The right delivery process will define the workflow steps necessary to protect your margins and make the outcome achievable every time, with every client.

       

Why Proposal Software Isn’t the Answer

When you reflect on that natural four-phase process, proposal software can help with:

  • Collecting the payment and signature in Phase 3 (Engagement Logistics).

However, it’s not going to:

  • Help you identify the real problems your clients care about most through an expert Discovery Process (Phase 1).

  • Help you identify the right solutions and get the client to say, “yes” to choosing you as a possible solution (Phase 2).

     

  • Help you identify the right price point for potential solutions (Phase 3).

     

  • Help you deliver the solution with the right workflow (Phase 4).

Growing your revenue quickly and sustainably only happens when you:

  • Increase the overall number of clients that say “yes” to your solutions and price points.

     

  • And, decrease your time and effort spent getting clients to the point of saying “yes” to your solutions and pricing. 

Your revenue won’t truly grow until you optimize all phases of the Client Journey.

The best results we’ve experienced come from:

  • Using a repeatable method to define what specific outcomes are most important to the client. 
  • Having a simple way to match client outcomes with the packages you offer.
  • Having an intelligent template for pricing your packages (that anyone on your staff can use).
  • Following a documented workflow for delivering the specific packages your client signed up for. This guarantees the outcomes & results most important to them are realized.

Proposal software doesn’t directly help with all four phases of
the tax & accounting client journey.

  • You should have a beautiful way to display your client solutions. 
  • It should be easy for clients to e-sign their agreements and pay you online.

Those features alone however, are not enough to truly grow your revenue.

Learn More | If you want to build your revenue faster, a SmartPath membership gives you immediate access to:

– Powerful client pricing calculators and pre-built service packages.
– Proven marketing & discovery templates.
– Expert step-by-step training & tools for how to onboard clients with less struggle.


Visit the smartpath.co/membership to learn more.