Strategic Sales and Marketing Plan for a Bookkeeping Company

This project outlines a strategic sales plan for a bookkeeping firm seeking to expand its services and market reach. The plan addresses the firm's current situation, including its strengths (loyal customers, good service) and weaknesses (lack of marketing, limited services). It proposes the introduction of payroll and accounting services, analyzes the market for these services, and outlines strategies for market penetration, product development, and customer service. The plan includes sales forecasts, organizational structure changes, and the implementation of Customer Relationship Management (CRM) software to improve sales, profitability, and customer loyalty. The project emphasizes the importance of strategic sales, customer service standards, and employee compensation to achieve business growth and success. The firm aims to leverage its existing customer base and expertise to capture a larger share of the market and increase revenue. The project also references relevant academic sources to support its recommendations.

Strategic Sales
Plan
Accounting firm.

• Our company is a well known Bookkeeping
firm.
• We are experts in book keeping for last 10
years.
• The business is run by only 4 members.
• We have loyal customers for some many
years.
• Our customer service is liked by all and they
refer us without any marketing.
About the company!!

• The business is surviving on existing clients
for years.
• We are adding 3 to 4 clients each year
without any marketing efforts.
• The strength of our business is known by the
feedback from our clients.
• No extra cost, family members are involved
in the business.
Advantages of no change in the business:

• Loss of new market and new clients.
• Loss of revenue and loss of profit.
• Absences of strategic marketing plan is
hampering new sales.
• Competitors are capturing the market.
• No new service added for expansion.
• Processing less orders due to lack of
employees.
• No online presence.
Disadvantages of no change
in the business.

• As the company has gained a good amount
of loyal customers.
• We can expand our business in different
domains.
• The two domains as we plan to introduce
are :
Solution to The Loss of
market.
Payroll service Accounting service

• It is handling of attendance, payroll taxes and compensation of
the employees and workers.
• It is a very complicated work. It needs a lot of detailing and
processing huge data.
• There are many payroll companies who charge huge amount to
its customer.
• We will provide advantage over it by reducing the cost and
providing discounts for our service.
• We have a new hire in our business family. She is A CPA and will
handle the Payroll service.
• If the orders increase then we shall hire more fulltime CPA or
invest in payroll software. (Ainsworth, 2017)
Our Payroll Service Strategies:

• To improve the performance the business.
Companies pushes the operational limit and
infuses new products in their service line.
• The US market for Payroll service is $ 23.5 billion
by the end of 2022.
• These existing companies only capture the 56.7%
of the market.
• Some of the examples of Payroll services in the US:
• SurePayroll (Paychex), PayUSA, MyPayrollHR,
Coastal Human Resource Group, Intuit, ADP,
BenefitMall, and PAYweb.
Market for Payroll service in
USA

The Graph of the Payroll market
that we have to capture by 2020...

• This is our new business which shall bring more
revenue to the company.
• It will include tallying, taxation,
• The accounting service will be based on the
services requested by the client.
• The work will be handled by the new CPA hired.
• The cost will be very low initially so there is a
huge expectant of profit.
• We shall be introducing the new service
through marketing.
Strategies for New
Accounting Service

• In last five years, the Accounting Services
industry has grown by 4.8% to reach
revenue of $120billion in 2019 only in US.
• Total number of service provider are
102219.
• It still requires a 50% more increase in the
service.
• Each year 1.8 % of growth of employment
in this sector.
Growth and opportunity in
the Accounting Service

• Our existing clients are asking for more
services related to accounting and payroll
handling.
• We cant miss the market as now we are
more confident with added experience and
employee.
• We shall be capturing the market with more
effort in marketing and our customer based
service.
Why will companies choose our
Payroll and accounting service

• Strategic sales plays a very important role in
making a business successful.
• It maximizes the sales
• Increases the profit.
• Improving future objectives
• Increasing growth and development
• Expanding the organization.
• Branding the services (Zunarni , 2017)
Importance of sales program

5 years Sales forecast for all
the services
Cost of
Payroll
Cost of
Accounting
Cost of Book
keeping
200 200 300
year Yearly
Client
Payroll
Expected
Orders
Accounting
Expected
Orders
Book
keeping
Expected
Orders
Revenue
from
Payroll
Revenue
from
Accountin
g
Revenue
from
Book
keeping
Total
Revenue
1 27 0 0 27 5400 5400 8100 18900
2 50 16 28 50 10000 10000 15000 35000
3 120 35 60 120 24000 24000 36000 84000
4 250 100 200 250 50000 50000 75000 175000
5 350 240 300 350 70000 70000 105000 245000

Total revenue in 5 years
 The sales is increasing in 5 years. This is an assumption and this is based on the
market demand and supply in the next 5 years.
 In the previous slide the assumed cost and sales numbers are calculated.

Marketing &
sales team (2
members)
CPA (1)
Payroll
Accounting
Book keeper (3) Bookkeeping
Change in the organizational structure…
•Initially only one sales person will be hired.
•The hiring will completely based on the demand.
•A new CPA family member shall be joining our business.

MARKET PENETRATION
BOOKKEEPING
Ansoff Matrix
PRODUCT
DEVELOPMENT
PAYROLL AND
ACCOUNTING
MARKET
DEVELOPMENT
MARKETING AND
SALES STRATEGIES
DIVERSIFICATION
NEW STAFF HIRE FOR
SALES.
For market penetration we shall use our
bookkeeping business.
Market development will only be possible with
proper sales strategies.
Product development is for Payroll and
accounting service s planned.
To successfully diversify we have to increase
the staff.
PRODUCTS
MARKETS
Existing New
New Existing

Comparison of old and new
B2B Sales strategies
OLD
Billboard
Direct mail
Flyer and broacher
Face to face interaction
Word of mouth
Print ads
Telemarketing
NEW
Optimizing the team
Improving customer care service
Identifying the customers
Working on the sales forecast
Making the customer the King.
Investing in digital marketing
Discounts and offers to new and
existing clients.

• To define the customer service standards we shall be establishing
specific, objective, and measurable customer service standards.
• We will be evaluating staff performance based on the standards-
• Timeliness- To be precise with details and deliverables as
customers on not like to wait.
• Attitude- Customers should be treated with respect, courtesy, and
professionalism. They will appreciate the level of care and will
become more loyal.
• Listen actively-To listen carefully what the clients are demanding
and them to act accordingly.
• Expertise- Experts should be knowledgeable about the service
providing.
• Follow-up- To never let the customer feel hanging. To keep the
customer informed of every step.
Value of Customer service

• To increase the sales and effort from the sales staff.
• The company has planned a new method of compensation.
• There will be a fixed salary every month for the completing
the target.
• When any sales person will exceed the target there will be
compensation slab
• An increase of 10% for achieving 10% higher sales number.
• 20% for 20% higher sales number.
• 35% for 30 % higher sales numbers.
• Compensation for the book keeper.
• Any staff other than sales will be given fixed 10% increase on
acquiring 2 new customers.
Sales compensation

• CRM stands for Customer Relationship Management. It is a business
strategy to improve the company’s profitability, mange cost and increase
the customer loyalty.
• It helps in coordinating the management for sales and marketing and
customer care. In my view the company should purchase the CRM
software.
• This will save our money by doing the job of 4 more employees together.
• CRM usage has increased from 56% in 2012 to 74% in 2019.
• In less than $300 dollars we shall be able to meet the requirement.
• We will share the CRM information will all our employees for transparent
service. (Cambra-Fierro et al, 2017)
CRM software benefits

• Innovation is always good for expansion. To
survive the competition one has to
prepared.
• Thus the plans in the presentation is worth a
try for the betterment of our company.
• To increase the revenue every industry takes
some risk and succeed.
Conclusion:

• Ainsworth, R. T., & Viitasaari, V. (2017). Payroll Tax & the
Blockchain.
• Cambra-Fierro, J. J., Centeno, E., Olavarria, A., &
Vazquez-Carrasco, R. (2017). Success factors in a CRM
strategy: technology is not all. Journal of Strategic
Marketing, 25(4), 316-333.
• Sangster, A. (2015). The genesis of double entry
bookkeeping. The Accounting Review, 91(1), 299-315.
• Zunarni, K. (2017). Drivers of key performance indicators
achievement and its mediating effect on salesforce
intention to retain in the banking industry (Doctoral
dissertation, Universiti Utara Malaysia).
References