Online: What’s new for Tax and Accountancy Professionals

Paper given at IT in Tax Conference London 20th November 2000.

Background

Andy White was responsible for setting up the Professional Contractors’ Group. This campaign group has been lobbying the Government for changes to the taxation measure known as IR 35. Run solely over the Internet the Campaign site has grown rapidly to achieve over 2 million page impressions per month (In comparison the highly respected web site; Accountingweb achieves some 500,000). Andy White was awarded a special mention in the New Statesman New media awards this year and the experience of running the PCG website has enabled Webtastic to develop technology to help Tax and Accountancy professionals build and retain business.

Details

For firms that are selling their knowledge and expertise, such as Accountants, Lawyers, and Consultants, the Internet offers significant benefits in meeting such key objectives as:

• Marketing services to potential clients.
• Helping to retain existing clients.
• Helping to sell additional services to existing clients.

  Problems arise in that, as with many new technologies, there is the tendency to “over promise and underachieve”. Firms that have invested in “Brochure” type, first generation web sites will have discovered a number of drawbacks such as:

• Brochure-type web sites require specialist skills to update pages and keep the site current. Most companies cannot afford to invest in dedicated specialists and therefore this is subcontracted. This can be expensive and creates a barrier to keeping the site updated.
• These sites are “Static” and a visitor needs to keep returning to check for new content. Most Internet users tend to have a few favourites and, no matter how good the “eye candy” (Internet term for expensive graphics), unless you notify them separately you will find the site visits tend to drop off after the initial enthusiasm resulting from the launch.
• If pages are modified - rather than new ones created - it is possible (due to the way the website is downloaded) that viewers will not see the changes until they refresh the page.
• As the site grows it becomes more difficult to keep the structure and find relevant information.

  Firms looking to upgrade their existing websites (or investing in their first foray onto the ‘net) need to be aware that website technology has developed rapidly. Using 1st generation websites will not capitalise on the key benefits offered by the Internet and will prove to be increasingly expensive to maintain

  The latest generation of websites for businesses such as Accountants, Lawyers and Consultants needs to focus on three key aspects.

1. Content
2. Interaction
3. Personalisation
4. Conclusion

1. Content

Timely, top quality content is what will drive potential clients to your site. Top quality content, regularly updated, will ensure your existing clients are kept fully informed of latest developments. Most clients want and appreciate being kept informed of current developments that are relevant to their circumstances and needs. As well as information they want interpretation and advice. Your clients are relying on your professional skills and experience when they purchase advice and services from you. The Internet enables you to demonstrate this to both existing clients and to a wider audience.

Some sites are starting to syndicate the provision of content to other websites, but for Accountants, Lawyers and other suppliers of Professional services this is not an attractive option. The content of your web site provides the means by which you can differentiate your service from that of your competitors; using standard content, which may also appear on your competitors’ website, will not give you the opportunity to differentiate.

Key requirements:

The content should be able to be placed on the site by any member of the firm, without needing specialist training, and without affecting the overall design and brand of the site. The site needs to ensure that the contents can be searched quickly and effectively.

1. Interaction

A good site enables the viewer to interact with the content (apart from the obvious which is to pick up the phone and call you!). For example it might allow a viewer to score the content for ease of understanding or relevance or allow the visitor to e-mail the article to a friend.

Another interactive feature would be to allow you to hold regular on-line seminars on a particular topic, which you could promote through the conventional media thus driving potential clients to visit your site to start building a relationship.

Another useful feature could be running a web based enquiry service for routine questions. This needs to balance carefully issues of providing free advice which you might otherwise be able to charge for, any liability aspects and the ability to sell on other services once visitors have gained confidence with your services.

You will probably need to retain some content specifically for existing clients and provide them with a greater degree of interaction. This may be part of a premium service that might be paid for, or used as “added value” services to differentiate you further from your competitors.

Key requirements:

The user should be able to interact with you via the website. Providing the ability to e-mail contacts, score information and comment on articles will help to draw users into regularly visiting the site and start the process of relationship building. Any member of the Company should be able to control this without the requirement for specialist training.

1. Personalisation

The third and, perhaps, most important attribute of an effective web site is personalisation. By this we mean ensuring that the client receives the information that they are interested in and which is relevant to them. For example, this would include being notified of information posted to the web site that they are interested in as soon as it is posted. This involves compiling a profile of each client, their interests and their issues. This involves not only getting the client to record matters of interest and concern, but also using your own knowledge of your clients, their businesses and interests to inform them of matters they need to be aware of.

Again this is another opportunity to distinguish yourself from your competition. Nothing is more annoying for a client than to receive a standard mail shot on an issue that they have no interest in or which has no relevance to them. At best such mail shots indicate a lack of proper thought; at worst it also suggests a lack of knowledge or understanding of your client.

Not only does a well-constructed web site enable you to target clients and contact more specifically but it also provides a far speedier response. Many accountants take great pride in pulling together the budget day report and getting it out to clients quickly. Anyone who has been involved in this process knows that drafting the material is only half the problem. There is also updating and de-duplicating mail lists and organising printing and distribution.

A good web site will allow you to demonstrate this same ability, 365 days of the year. It will allow you to keep your clients informed of the latest changes better, faster and cheaper. This is especially important with the growth in regulations.

Key requirements

The system should ensure that once content is posted against a specific category it should also be emailed to Clients interested in that specific category. This should happen without the need for any additional systems and can be controlled by the user and/or the Company.

1. Conclusion

Satisfying the needs of a large number of clients/customers with differing needs and requirements, but who all want personal attention, is becoming more and more difficult. A well-structured web site is a vital tool in the modern professional adviser’s armoury. An effective site will be a positive benefit in gaining and retaining clients.

However, a poorly constructed site could be an administrative burden and a negative advertisement for the business. By the time you have identified that your site is not effective the damage may already have been done.

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Andy White