How to Attract Millennial Clients

Businesses across the United States are working hard to attract and retain members of the millennial generation. Accounting and tax firms especially need to offer services and products that are tailored to this generation’s specific needs. While they are often painted with a broad brush, millennials are a diverse, technologically savvy, and determined group that recognize their need for professional accounting and tax planning services.

If you can prove that you have interesting and important services to offer millennial clients, you’ll not only build a solid relationship today, but lay the foundation with this group for the future. Good customer service is the foundation for attracting millennial clients and will be what keeps them loyal to your business.

The millennial mindset

Also known as Generation Y, this group of Americans is generally considered to be born between 1981 and 1996. They currently comprise the largest group of employed individuals in the country, surpassing both Generation X and baby boomers. Today’s millennials are in their 20s and 30s, which means they are in an ideal place to benefit from the services your firm has to offer. Position your accounting or tax firm in ways that resonate with them via thoughtful social media marketing campaigns that promise them value, and then provide that value throughout their changing lives.

Like other generations, significant historical events shaped the way millennials think. They came of age during the Great Recession and witnessed many troubling financial issues locally and nationwide. This demographic is struggling with student debt unlike any other and yet they are more likely to be entrepreneurs and small business owners who seek work-life balance. Millennials are also most likely to have alternate revenue streams from freelancing or other contract work.

How to reach millennial clients

So how can accounting and tax firms reach out to this important demographic and convince them to give their services a try? Here are a few areas that are important to millennials that you might want to investigate:

Incorporate technology

Millennials are more comfortable with technology than any other age demographic before them, and they are seeking businesses that can engage with them on their level. This generation is comfortable doing business via a thoroughly digital experience, and many prefer to do as much paper-free business as possible. From digital payments, cloud-based accounting software, and mobile apps for their accounting needs, millennials are not afraid of technology and expect it from your firm.

Once you’ve reached potential clients, it’s important to show millennials that your firm has embraced technology that is designed to make their experience shine. When you offer free Wi-Fi in your lobby, incorporate automation in your day-to-day work, and embrace the cloud—when you use technology to your advantage—you’ll attract more millennial clients.

Master social media

Accounting and tax firms can reach millennials where they work and play: social media. You need to focus on maximizing your firm’s presence on social media and staying a step ahead on emerging marketing trends. If you are unsure of how to market your firm on social media platforms, you’ll want to connect with a small-business social media marketing company to tailor your messages to potential clients.

If you want to be successful with millennials, it’s not enough to just maintain a social media account. This demographic uses social media to organize, motivate, and socialize. Advertise some millennial-friendly services and activities through social media, such as offering free seminars, hosting young entrepreneur meet-and-greets, and more.

Provide diverse services

Millennials put a lot of value on businesses that provide them with a range of services, saving them time and money. Look at ways your firm can meet their accounting needs, whether for their personal financial health or for their business. Firms that can give them more than a basic service like tax preparation are more likely to attract their attention.

For example, in addition to basic tax preparation, your company could also provide a complimentary financial planning session or a seminar on maximizing retirement benefits. When millennials feel as if they are getting real value for their money, they are more likely to stick with your accounting firm when they need more in-depth services.

Nurture relationships

No matter what their age, your firm should focus on building lasting relationships with current and potential clients. With millennials, it is especially important because they have a lifetime of financial needs ahead of them. There are many ways that you can create a successful and positive client relationship, including clear and frequent communication, enhancing rapport, being prepared, keeping your promises, and truly listening to their thoughts, both big and small.

What can set your firm apart from the competition is how you make your millennial clients feel about you. Be proactive in nurturing your relationship with each client and anticipating their needs. By successfully nurturing your relationship, your firm will be the first thing they think about when they enter more complicated tax circumstances or launch their own business.

It’s well worth your time and money to truly understand what today’s millennials want and then make sure your firm provides it. When your millennial clients feel as if you get them and understand their goals and desires, you’ll succeed in building and safeguarding their trust both now and in the future.

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