CPA firm profit margins exist on a spectrum. While industry margins average between 20% to 30%, firms can realize higher or lower profit margins based on a variety of factors, including how you spend your money on marketing. In your efforts to increase your profit margins, you may be staring at the high cost of your CPA firm’s marketing strategy and wondering if it’s even worth it.
The answer to that is a resounding “Yes, if…” Your CPA firm needs marketing. That’s a fact. But it needs effective marketing. CPA firm marketing budgets can feel hard to justify, but that perspective will change if you have a better understanding of why marketing is necessary, and how to focus your marketing budget in the right way.