Rebranding a CPA Firm:
2. Communication is key.
Rebranding can be an emotional process,
especially for those within the firm. “The
most challenging part was that some ideas the
committee had weren’t necessarily liked by
non-committee members,” said Casey Blake,
marketing specialist at Edelstein & Company
LLP.
Staff will have their own opinions, and
while you can’t please everyone, you can
respectfully include them as part of the
process and give them a chance to be heard.
Make sure they understand why you’re
changing your brand and what that means.
It’s easier to reach a consensus if everyone
feels involved from the outset — and
frequent, honest communication is vital.
By Elizabeth Emanuelson
Rebranding your firm’s identity – whether
as subtle as updating a logo or as significant
as changing a brand name – is a challenging
process.
It’s also an important part of staying
competitive and relevant in your profession.
What your firm looks like to an outsider says
a lot about you. And if it’s been a decade (or
more) since you’ve touched your image, you
may want to reconsider the message you’re
sending to potential clients.
In Massachusetts, the time to act is now.
Several firms recently launched new websites,
logos, corporate colors and collateral –
essential elements that make up their firm’s
brand. As you are reading this article, more
are in the process.
What’s it really like to go through a rebrand?
The MSCPA spoke with four firms who
revealed 10 things firms should know before
they get started:
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mscpaonline.org
1. Don’t fear the process.
Time is a top concern CPAs have when
making the decision to rebrand. Let’s face
it: CPAs are busy and work long hours,
which doesn’t leave much time to devote to
marketing. When you’ve lived with your firm
identity for years, is there really a need to
change it? The process can seem daunting.
However, most firms reported that it took
about a year to launch their new brand
identity, and some took closer to six months.
For the firms that took a year or more,
many took breaks during busier times of the
year (i.e., tax season). Others outsourced
to marketing experts to handle the dayto-day activities to make the process more
manageable.
“Rebranding is an important process, but
it’s not one that many of us have experience
with,” said Joseph Moriarty, CPA, managing
partner at KMM (formerly King McNamara
Moriarty). “Be sure your team has someone
who can guide you, bring new ideas and
perspective to the table, and stay focused
when client demands take precedence on
your time.”
“It’s critical to involve all levels of staff so
everyone in the firm has a sense of ownership
of the end result,” said Dana Bottorff,
marketing and business development
manager at G.T. Reilly & Company.
3. It’s expensive (but worth it).
Rebranding is a serious investment. For CPA
firms, costs can range anywhere from $5,000
- $50,000, depending on the complexity of
the project. For the same cost, you could
go on an all-inclusive vacation or buy a
luxury car. Between the time and monetary
investment, and the chance that the new
brand will fail, is it worth the risk?
According to the firms we spoke with, it is.
A strong brand that you’re proud to show
off will set you apart from your competition,
increase your confidence and attract new
clients to your firm.
“Don’t underestimate the reward,” said
Jonathan Gorski, CPA, partner at Edelstein
& Company LLP. “Our new brand truly
reflects who we are at Edelstein. It was a huge
success because our goals were achieved.”
Make sure you know what you’re paying for,
and that you’re honest and clear about what
MARKETING
10 Tips and Ugly Truths
you expect to achieve. Having unrealistic
expectations helps no one and only leads to
disappointment.
4. Get everyone on board.
Your employees are your brand ambassadors,
so use them to help spread the word. Before
launching their new identity, KMM gave staff
phone chargers, padfolios and screen wipes
with their new logo. It was important for the
firm to make sure the swag was something
that the staff liked and would use, increasing
the chance for it to be displayed voluntarily.
5. Trust your decision makers.
Having too many cooks in the kitchen
can lead to disagreements and delays, so
it’s important to appoint decision makers
within the firm. “Get everyone on the
same page, but then put your trust in a few
people to make decisions so the process
can be smooth,” said Mitzi Hollenbeck,
CPA, manager at Sharkansky LLP. After
six months, Sharkansky LLP launched a
new identity in December 2014. The firm
credits the swift timeline to its two managing
partners who took the lead and worked
directly with a marketing firm to get the
project completed.
“We hired an expert and let her guide the
entire process,” Hollenbeck said. “She kept
our staff well informed and we could provide
feedback, but we didn’t have to spend
excessive time or micromanage the process,
which was a relief.”
“Our clients are getting younger and our
brand was static,” said Moriarty. “We needed
to focus on the future of the firm and the
changing needs of our clients, so it was
important that our young staff – our clients’
peers – were involved in the process.”
7. Make sure you
LOVEŸTHEŸÚNALŸPRODUCT
All the time and money spent will be wasted
if you hate your brand, and your staff will not
adapt to it. You want them to feel the values
and image are a representation of themselves.
While the process can be cumbersome, have
patience.
“We had 15 logo design iterations which were
extremely frustrating at the time,” Bottorff
said. “Fortunately, we didn’t rush and stayed
on task, and it was so worth the wait. Our
staff and clients love our new logo – and
business is growing!”
8. Research, research, research.
A logo, website and collateral pieces are more
than just colors and pretty pictures. They
represent your firm, your staff and who you
are in the profession. However, the image
you think you convey might not match what
your clients see. Before you invest money, do
a brand audit and find out how your clients
– current, former and prospective – perceive
your firm. Compare your brand to your
competitors. How does your firm stack up?
Remember that it’s okay if you don’t like the
initial results. Finding out where you are is
the first step to getting where you want to be.
6. Get younger staff involved.
Young professionals will carry your brand
into the next generation, so get their input.
According to Bottorff, “It was important for
our younger CPAs to buy into the new brand
because they’re the ones who will take our
firm into the future with it.”
Clients and prospects are savvy buyers who
want to see their values reflected in their
CPA firm, and as the baby boomers enter
retirement, those values are changing.
“You can’t do good work for clients if they
don’t hire you,” said Hollenbeck. “Having a
good brand image can help win new clients,
so it’s important to keep up with it.”
9. Hire an expert.
All of the firms the MSCPA spoke with
engaged with marketing firms to revitalize
their brands – and more importantly, they’re
all happy they did. Hiring an expert adds to
the cost of the project, but it also helps keep
the peace. Decision makers won’t always
agree, and it won’t help anyone if a stalemate
delays the project. A marketing expert, who
has no emotional attachment to the brand,
can help the group come to a resolution. One
firm (who wished to remain anonymous) said
that when their internal team disagreed, they
would rely on the marketing firm to integrate
multiple ideas that satisfied all parties. It kept
morale up – and the project going.
10. There’s never a perfect time.
CPAs are busy. While there’s probably 1,000
other things you’d rather do than talk about
corporate colors, you also want your firm to
grow, to profit — and ultimately, to beat out
your competitors.
Time, needs, technology and clients change.
Don’t let another decade (or more) go by
before refreshing your brand. While your
brand might not need a complete makeover,
it’s better to be in the best alignment than to
be totally disconnected.
Remember, whether your firm’s current brand
is working depends on how potential clients
feel, and the judgments they make about
your firm when faced with your image. If you
don’t know, you need to find out – and fast.
What do you think of these new brands?
See their new looks:
Edelstein & Company LLP
edelsteincpa.com
G.T. Reilly & Company
gtreilly.com
KMM
kmmcpa.com
Sharkansky LLP
sharkcpa.com
Elizabeth Emanuelson is the MSCPA’s
Senior Communications Specialist. Contact
her at [email protected].
sumnews Spring 2015
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