Amanda Watts, marketing consultant for accounting firms, is the first interviewee in series of articles where I talk to leading figures in accountancy and related industries. Amanda is the MD of TwentyTwo Agency. She’s a speaker, best-selling author and founder of the British Accounting Marketing Awards. @AmandaCWatts
Why marketing?
I could try and come up with a clever answer but quite honestly it is all I have ever wanted and could ever want from a profession. Looking at a business, I can immediately see what they need to change or enhance. I live and breathe it. The books I read, the businesses I run, the conversations I have. They all boil down to marketing. It is engrained in my core. I don’t know why, I was born with it inside of me and am very grateful I was encouraged by my father to nurture it. On an intellectual level, I could say it is the combination of wanting to help people, the understanding I have of human behaviour and my ability to come up with ideas fast.
Why accountancy?
My father is a Tax Technician. He used to work for one of the big 4 but got made redundant when I was 15. He invested in a tax franchise that promised to help him with marketing his services. Did they do this? Nope, and the business didn’t succeed. It was a trying time for the family and the stress for him and the rest of us was horrific. Roll on to a few years ago we were talking about the technology changes in the industry and I could see the stress he went through manifesting in accounting practices all over the world. My heart just said to me that I couldn’t let this happen to the industry. I knew there was a way to leverage this technology and still be seen as vital and valued. It was a no-brainer… I had to help.
What got you into the business of marketing?
You might see a theme here. I would say my father encouraged me at all times. When I was younger I wanted to be a signer on stage (think Doris Day) but I could neither sing, nor act. Dad saw in me that I had a knack for business ideas and marketing so encouraged me to do business studies and accounting. He was right, I have never looked back and can still neither sing or act. But I have smashed this marketing malarkey.
A growth mindset accountant
What have accountants got to learn?
I don’t believe accountants have to “learn” anything other than to understand that the changes in the industry can be approached from two angles. They can approach it from either a fixed mindset or a growth mindset. A fixed mindset accountant will bury their head in the sand and either think the industry is doomed, or that they can still only rely on word-of-mouth enquiries. A growth mindset accountant will know that times have changed and be open to the opportunities that are out there. This is the difficult part. Once a growth mindset has been embraced then it is just a matter of understanding how to speak to an ideal client and build a relationship with them using a combination of modern and traditional marketing.
And what can you teach them?
If an accountant has a fixed mindset I can teach them nothing. However, the growth mindset accountants I can clearly show them how to embrace technology and leverage it to be more visible instead of invisible, more vital instead of functional, and be valued instead of seen as a commodity. We do have a methodology that we use to “teach” them this called The Pioneering Practice. After 26 years in the business, I understand that it is always about building relationships first, then maximising sales. We just leverage marketing to do this.
Information overload
Does the idea of information overload concern you?
Absolutely. Overwhelmed is something that many practitioners feel when it comes to the M word. And I totally get this. It is important for a practice owner and their team to understand that there are three things they need to think about. Strategy – What is their goal for marketing (number of new clients, revenue/profit wanted). Tactics – How are they going to achieve this goal (social media, events, speaking etc). Tools – what tools are they going to use (Facebook, Twitter, Eventbrite, MailChimp). To stop the overwhelm practitioners need to only think about Strategy and Tactics… the tools are there to leverage the strategy and tactics. If you get stuck in tools you end up overwhelmed by the options.
What’s on the horizon for you and the sector?
I truly believe that this is an exciting time for the majority of the profession. As I have said those with a fixed mindset may find they have to sell their practice, or may even start to shrink. The growth mindset practitioners have an exciting future in front of them. As for me, well every day I work on serving more and building relationships… There is a dearth of expert marketing professionals that specialise in helping accountants, so my future is about trying to share my expertise as much and as far as I can. I run my business in 90-day cycles, and look at 12-month goals. My focus at the moment is on The Pioneering Practice marketing implementation programme and having that as the “go-to” programmes for growth mindset accounting firms around the globe.
Playing catch-up
Do you think women are well-represented in the industry?
I think we are slowly playing catch up. It was only 100 years ago that we got the vote, and 50 years ago women didn’t have professional training like they can have now. Diversity in the workplace is happening, it isn’t happening overnight, but it is happening. Look at Accountex, run by the lovely Zoe. A lot of the practitioners I speak with are women. Give it time.
As an influential voice, what impact do you want to have on the profession this year?
I want to spread the message that there has never been a better time in history to create success as a firm. The ability to be visible, vital and valued is, dare I say, almost easy. I want to show accountants and their teams that the world is their oyster. I am Marmite, people will either love or hate me, but this is good. Those that love me will come to me for help. This will enable them to have success and I will have helped those firms make a bigger impact themselves… A ripple effect.
Early Days
Where did you grow up?
Croydon.
Were you any good at maths at school?
Ha-ha no I am a creative. Maths has never been my strong point. I love analysing numbers, but that is about as far as it goes.
Trivia/Miscellany
What’s your favourite film? (you’re allowed more than one)
Pillow Talk with Doris Day.
What’s your favourite book? (you’re allowed more than one)
Fiction: To Kill A Mockingbird. Non Fiction: The Compound Effect by Darren Hardy.
What’s your favourite type of music?
I am a 50s/early 60s kinda gal. I love my record player and am rather old-fashioned when it comes to music.
What’s your ideal day out?
If it’s sunny: A trip to the seaside, throwing stones in the sea, eating chips on the beach and enjoying the sun on my face.
If it’s rainy: Popping into London for a walk around the galleries, a meander around the streets and a lovely lunch at an Italian.
What’s your ideal holiday?
Amalfi coast driving around the winding roads across the most beautiful part of the world. A holiday with the hubby and children, with lots of laughter, sun and exploring.
Is money the root of all evil?
Nope, it is an opportunity to help more people and make a bigger impact.
Do you support a football team?
Nope.
Do you have a heroine or hero?
My father is my hero. I have had a colourful life, all he has done is support and encourage me every step of the way. This coupled with the fact that he is always right and seems to be able to do everything in this world with ease, makes him my hero.
Amanda will be providing all the answers to your marketing questions in a monthly blog post that will launch on Accounting Insight on April 6. Whether you are wondering which social media platform you should be using, whether you should do PPC or Telesales, or want to understand how to run webinars Amanda can help. You ask, she will answer… Please email any questions you have for Amanda to Ian Moss … [email protected].