“Just turn on your firm’s marketing.” It’s a deceptively simple suggestion that makes experienced CPA firm owners cringe. Yet for firms seeking to grow their monthly recurring client base, it’s often the first piece of advice they receive.
But what if conventional marketing wisdom is leading accounting firms down an expensive dead end? That’s the question Rachel and Marcus Dillon found themselves asking after investing over $500,000 in various marketing experiments in the early days of their accounting firm. Trying out outsourced marketing, internal sales teams, and lead generation services led to a surprising discovery: the most effective way to attract high-value monthly recurring clients isn’t through traditional marketing tactics at all; it takes a relationship-first approach that leverages the power of existing client satisfaction.
In a recent episode of the “Who’s Really the BOSS?” podcast, the Dillons share how this discovery transformed their growth strategy.
The Marketing Paradox
For most accounting firms, finding new tax clients isn’t particularly challenging. “Have a working website and a working phone number. That’s about all you need to find new tax clients,” Rachel notes from her experience running a growing practice. But attracting high-value monthly recurring clients? That’s where things get complicated — and where traditional marketing approaches often fall short.
The challenge isn’t finding clients — it’s finding the right ones. As Marcus explains, “The services you offer, the persona you put out on your social media profiles and your website, and the relationship your ideal clients want to have with their CPA or team of advisors matters a lot.” This is especially true for firms seeking to build long-term advisory relationships rather than just handling annual tax compliance.
This complexity is amplified by today’s global marketplace. Traditional geographic limitations have dissolved, giving clients more options than ever before. “There are more options in the market today than ever,” Marcus notes, “thanks to a global workforce and global services, clients that were limited to a geographic area can work with people nationwide or worldwide.”
In this environment, simply “turning on marketing” — whether through social media, email campaigns, or other traditional channels — isn’t enough. Success requires multiple touchpoints with ideal clients and a deep understanding of how to build and maintain meaningful professional relationships. This realization led the Dillons to embark on a series of marketing experiments that ultimately transformed their approach to practice growth.
The $500,000 Marketing Education
Determined to grow their high-value client base, the Dillons invested in a series of increasingly ambitious marketing experiments. They began with outsourced marketing at $1,800 per month, which included social media management and drip email campaigns. Despite running for a full year and generating some initial meetings, this approach failed to convert a single new client.
Next came a more significant investment: an internal sales team. Over two years, the firm invested approximately $500,000 in a business development position and support staff. “We thought we had a process problem,” Marcus reflects, “We thought we needed a person who could be dynamic enough to sell whatever we wanted to our ideal client. And that doesn’t exist.”
The commission-based compensation structure created unexpected challenges. Sales team members, eager to close deals, sometimes brought in clients who weren’t an ideal fit for the firm’s service model. Within 18 months , many of these clients began to churn — a costly lesson in the importance of client-firm alignment.
Even a sophisticated lead generation service fell short. Rachel explains, “We offer high value and highly relational services. So an email back and forth, that’s not the type of client that’s signing up for the services we provide.”
These expensive experiments led to the realization that traditional marketing approaches, no matter how well-executed, couldn’t replicate the power of authentic relationships in attracting and retaining ideal clients.
The Relationship-First Revolution
After years of expensive marketing experiments, the Dillons discovered their most effective growth strategy hiding in plain sight. By focusing on serving existing clients exceptionally well and nurturing referral relationships, they’ve achieved remarkable results – meeting their annual goal of 18 new clients in just over ten months, with an average client value of $22,300.
This success stems from a fundamental shift in how they view marketing. Instead of chasing new prospects through digital channels, they’ve redirected their marketing budget toward relationship-building activities. As Marcus explains, “Some of the best marketing dollars may be spent taking your existing clients to lunch… let them invite somebody they like, because that’s more or less how you make these connections. They’ll probably invite people they’re close to who either own a similar business or hang out in the same circles.”
Today, much of Dillon Business Advisors’ growth comes from existing clients starting or acquiring additional businesses, along with referrals from people close to the firm who understand the value they provide. The results speak for themselves. Not only is the firm growing steadily, but it’s attracting exactly the kind of high-value, long-term clients they want to serve. It’s a powerful reminder that in professional services, the best marketing strategy might not look like marketing at all.
From Marketing to Relationships: The Path Forward
The Dillons’ journey from traditional marketing to relationship-focused growth offers valuable lessons for accounting firm owners. While the allure of “turning on marketing” is strong, their experience shows sustainable growth in professional services requires prioritizing deepening existing relationships over chasing new ones.
When trust and long-term relationships are essential, investing in existing client relationships and authentic community connections often yields better results than traditional marketing campaigns.
Listen to the complete episode of the “Who’s Really the BOSS?” podcast to hear the full discussion of the Dillons’ marketing journey, including detailed strategies for relationship-building, client entertainment budgeting, and specific examples of successful networking activities that generated high-value clients.
Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.