Study: High-Performing Firms are 14 Times as Likely to Have Revenue Growth that Surpasses Competitors

High-performing firms are excelling in marketing culture, marketing goal achievement, marketing plan development and more.

That’s according to the “2018 Marketing and Business Development Strategies at Accounting Firms” study by Capstone Marketing and Bay Street Group, published by CPA Trendlines.

“Over the past 18 months, 66% of high-performing firms have increased their marketing and business development activities (time, money and/or resources) versus 37% for low performers,” says Jean Caragher, president of Capstone Marketing. “This investment is paying dividends in firm growth.”

The topline results of the survey are free to the participants and detailed analyses and recommendations are scheduled to be unveiled in a series of 30-minute webinars, starting with “3 Things High Performing Firms Don’t Want You to Know.”

According to the survey, high performing firms are:

  • Eight times more likely than lagging firms to have a marketing culture.
  • More than six times more likely to be satisfied with their marketing strategies and activities.
  • More than four times more likely to follow a written, strategic marketing/business development plan.

“Clearly, high-performing firms are doing many things right, which makes them more competitive,” says Rick Telberg, CEO of Bay Street Group LLC. “Low-performing firms have the opportunity to learn from the best in class firms.”