Since a recent report concluded that Canada's most profitable business in 2023 is payroll and bookkeeping, professionals in this industry should not underestimate their efforts to stand out from the crowd.  

With a $ 2.1 billion profit for 2023 and a 35% profit margin, this industry is becoming increasingly attractive, and freelance payroll and bookkeeping professionals must adopt new skills to promote their services and differentiate themselves from competitors.

With a remarkable 35% profit surge, the industry's expansion persists, supported by the country's sturdy economic performance and historically low unemployment rates. Businesses in this industry will continue to harness technology to deliver value-added services, pushing profits upward.

That's where marketing comes in. By implementing effective marketing techniques, these professionals can help their practice or company stand out, attract new customers, and retain existing ones.

5 Top Marketing Tips for Payroll and Bookkeeping Professionals

1. Define Your Unique Selling Proposition (USP)

It's essential to clearly define your company's unique selling proposition to differentiate it from the competition. Identify what sets your services apart and how they can benefit potential clients. Whether it's cost-effectiveness, advanced technology, personalized support, or specialized industry knowledge, highlighting your USP will help you craft compelling marketing messages.

2. Take Advantage of Social Media

Social media platforms provide excellent opportunities to engage with your target audience, share valuable content, and promote payroll services. Identify the platforms most frequented by your ideal clients and establish a consistent presence there.

You can go further from the usual simple promotional images and share informative articles, industry news, and client testimonials. Encourage dialogue, promptly respond to comments and queries, and leverage paid advertising options to expand your reach.

If you need help starting up, check this beginner's guide from Later to help you set realistic goals and pick the best platform for your business, with examples for Facebook, Instagram, LinkedIn, Tik Tok and more!

3. Cultivate Strategic Partnerships

Collaborating with associated businesses can significantly expand your reach and generate valuable leads. Identify strategic partners, such as HR consultants, accountants, or business software providers, and explore opportunities for mutual referrals and cross-promotion.

Participate in industry events, webinars, and conferences to connect with potential partners and build relationships that can mutually benefit your businesses. You can also use The 17th Floor’s Member Directory to generate new contacts with colleagues in your same field or location.

Grow your network with our Member’s Directory

4. Leverage Online Reviews and Testimonials

Reviews and testimonials greatly influence potential clients' decision-making process. Encourage satisfied clients to provide feedback on platforms like Google My Business or Yelp. Positive reviews and ratings can boost your credibility and attract new prospects who value social proof.

5. Implement Referral Programs

Word-of-mouth recommendations remain powerful in the business world. Implement a referral program that incentivizes existing clients to refer new customers to you. Rewarding both the referrer and the referred party can motivate clients to actively promote your services, expanding your customer base through trusted recommendations.

What other marketing technique do you find successful in getting the word out about your business? Help us complete the list in the comments section. 


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