Growth-focused accounting firms continue to invest in content for marketing to acquire new clients and maintain positive and profitable relationships with current clients.
Wolters Kluwer serves over a million accountants globally and is a global leader in tax, superannuation and accounting knowledge solutions, as well as practice management software, CPD learning and training, website building and management, and more.
Guiding clients through the pandemic energised and strengthened the bond between an accountant and client in numerous ways, notably by re-enforcing the shift away from tax compliance towards the more strategic role of a trusted business advisor.
Wolters Kluwer CCH in Australia has just launched an innovative new partnership with BOMA that provides a library of the award-winning CCH iQ content and practical tools within the BOMA Marketing Platform.
Delivering revenue opportunities through expert content
The sharing of informative content (also known as content marketing) is a popular and powerful way to promote a firm’s knowledge of current, and pending tax legislation; which positions the firm as a subject matter expert. It involves the creation and sharing of content – via email, blog, or social media post – which is designed to increase awareness and trust in a firm and therefore create trust in its services.
The content is usually informative or entertaining, aiming to provide value to the audience rather than being explicitly sales-focussed. Good content delivered in a timely fashion can help position a company as a thought leader and industry expert, and ultimately drive revenue opportunities.
However, producing real-time quality expert content takes time, substantial resources, and expertise well beyond that of a typical small to medium sized accounting firm. Sharing that content is also not so simple. The Wolters Kluwer CCH iQ and BOMA integration is designed to address this need.
Wolters Kluwer CCH iQ provides firms with the latest tax news and analysis alongside the profile of clients who may be impacted by this tax news or change. CCH iQ is powered by the Australia-based CCH tax experts who have a reputation for delivering exceptional deep industry insights enabling tax, accounting, finance, and legal sectors to make critical business decisions. These are the same tax experts who write Australia’s tax bible, The CCH Australian Master Tax Guide.
BOMA is a digital marketing platform that brings together all of an accounting firm’s digital marketing content and channels. BOMA allows firms to easily sync their contacts and create email marketing campaigns, blog posts, or social media posts using a library of pre-existing expert content - or they can upload their own.
The new collaboration between CCH iQ and BOMA enables firms to access and share a selection of CCH iQ content, via a premium content library in BOMA.
This collaboration is designed to reduce the time, cost, and complexity challenges of digital marketing, giving firms real-time, expert content in ready-to-share formats such as emails or social media.
An automated solution
The CCH iQ and BOMA integration produces an automated offering an accountant can embrace. It is not generic. It provides firms with specific, tailored, accurate information and real-time analysis of important tax-related matters.
Firms are also provided with practical tools like pre-written client letters, client impact statements, checklists, and calculators which can be shared with clients to provide a value-add service and support future revenue opportunities.
This integration provides actionable, trusted tax intelligence for many types of firm client – from small to multi-national businesses, high-net-worth individuals, and superannuation funds.
With BOMA, firms can now take this content and easily disseminate it to clients via the platform of their choice, such as email, blog posts or social media.
This allows easy campaign creation by delivering to an accounting firm the precise, updated advice it can safely publish across its digital channels without worrying about the content’s veracity. It accelerates your marketing and will drive business back to your firm.
Two brief examples of recent tax events supported by the CCH iQ and BOMA integration: when the NSW Government released details of its much-anticipated Land Tax Reform in June, CCH iQ provided details of the proposed changes and informed guidance.
CCH iQ outlined the key features, the background and options for homeowners and first-home buyers, and an informed opinion on how it will develop.
Firms who subscribed to BOMA were then able to easily share this content and opinion, as if they had written it themselves, with their network.
The second example is from earlier in the year, when CCH iQ examined the ATO’s tax ruling that significantly impacted family trust distributions. It came out of the blue with no warning. The rulings were reported on general news and tabloid websites, leaving clients anxious.
CCH iQ responded immediately with complete detail, knowing many customers have family trusts and needed to know the specifics such as the concept of ‘ordinary and family commercial dealings’, as the ruling was retrospective.
Business owners understand how their trusts work, so that level of knowledge was respected in what was delivered to them. Section 100A drove the decision to use the email headline: How Do I Avoid Penalty Rates?
Extended forms of the initial customer email can be put on your website. And because clients need to run their business and let the accounting firm take care of the tax implications, the content lists are carefully curated. Calls to the accounting firm for further advice, updated guidance and a plan to ensure compliance are encouraged.
Game changing collaboration
At the very foundation of the accountant-client relationship, compliance is critical to maintaining trust. The speed and complexity of legislative changes create heavy demands on an accountant’s time.
CCH iQ helps firms protect and maintain client trust as well as drive business opportunities by providing accountants with actionable information on tax changes. Through BOMA, sharing this information through multiple digital marketing channels is just a few clicks away.
BOMA has expert knowledge articles and free images to help accountants and bookkeepers easily create emails, blog posts and newsletters. There are more than 300 ready-to-share advisory and compliance articles in its library, all customisable, and more than 1.7 million royalty-free images.
BOMA subscribers can access Wolters Kluwer CCH iQ content for a small additional charge. Wolters Kluwer subscribers who subscribe to BOMA receive exclusive access to the CCH iQ premium content library.
The small investment is a core business upgrade that permits critical decision-making. The cloud-based nature of the product makes it adaptable to working practices, assists customer retention, and improves referral rates and higher growth.
Accountants using technology to become more agile and influential create momentum with a cumulative effect on customer relationships.
CCH iQ and BOMA grow customer interaction points and improve service and potential revenue. There can be no greater satisfaction.