The Business Creator's Marketing Mastermind #03

Dan Prudhomme | April 23, 2023

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WHO I’M QUOTING:

"Creativity is intelligence having fun." -Albert Einstein

WHAT’S ON READING RADAR:

"Creative Confidence" by Tom Kelley and David Kelley

This book provides practical tips and tools to help individuals and teams unlock their creativity and generate innovative ideas.

"The Lean Startup" by Eric Reis

This book emphasizes the importance of experimentation and iteration in the creative process. It provides a framework for developing and testing new ideas quickly and efficiently.

WHAT’S NEW IN AI:

High-Value Creativity Concept for a New SMB Initiative (via ChatGPT)

As a professional [accountant/specialist in professional services for example], I'm seeking your help with generating creative marketing ideas for my new SMB initiative. This prompt will provide you with a comprehensive concept outline that can serve as a powerful starting point for brainstorming.

Instructions

1. Enter the following prompt into ChatGPT: High-Value Creativity Concept for new SMB initiative (via ChatGPT)
2. If ChatGPT stops in the middle of the reply, use any of the following prompts to make it continue:
   • "Continue exactly where you left off"
   • "Continue where you left off at [last words it wrote...]"
3. All responses should be formatted using Markdown for clarity and readability.

STAR OUTLINING SYSTEM:

Situation

• A freelance accountant for example is looking for new creative endeavors to expand his or her services and offers more value to his or her clients.

The 5 Whys

• Why is it important to offer additional services as an accountant?

• To differentiate from competitors and provide more value to clients.

• Why do clients value-added services from their accountants?

• Because it shows that the accountant is proactive and invested in their success.

• What makes it difficult to develop personas that are effective for accountants?

• Because it requires a deep understanding of client behavior and preferences, as well as technical expertise in data analysis and persona development. 

• Why is strategic guidance important for a business?

• Because it helps businesses make informed decisions and achieve their financial goals.

• Why is offering additional services a good revenue stream for an accountant?

• Because it provides a recurring revenue stream and helps build long-term client relationships.

Analysis

• By offering additional services beyond traditional accounting, such as financial forecasting, budgeting, and strategic planning, accountants can become valuable partners to their clients and help them achieve their financial objectives.

Revenue

• Through offering additional services, accountants can generate a reliable stream of revenue that helps them build stronger relationships with their clients and create a sustainable business model.

ACTIONABLE TIP:

An accountant looking to offer additional services for their clients using edutainment could be to create engaging and interactive financial education content that provides value to clients while also being entertaining.

For example, an accountant could create videos or podcasts that explain financial concepts in a fun and easy-to-understand way or create quizzes or games that test clients' financial literacy.

By incorporating entertainment into financial education, accountants can make learning about finance more enjoyable and increase client engagement with their services.

This approach can be used for other professional services SMBs as well. 

SUCCESS STORY:

Carlos, a freelance accountant, noticed that many of his clients lacked financial literacy and struggled to understand basic financial concepts. To address this issue, Carlos decided to create a series of educational videos that explained finance in a fun and engaging way. He used humor, animations, and storytelling to make the videos entertaining and easy to understand.

To promote the videos, Carlos shared them on social media and his website and encouraged his clients to watch them. He also created quizzes and games related to the videos, which clients could complete to test their knowledge and win prizes.

The response from Carlos' clients was overwhelmingly positive. They appreciated the engaging and interactive educational content and felt more confident in their understanding of finance. As a result, John was able to offer additional services, such as financial planning and budgeting, to clients who were previously hesitant to engage with him on these topics.

By using edutainment to offer additional services, Carlos was able to differentiate himself from his competitors and build stronger relationships with his clients. He also generated a new revenue stream and increased his client retention rate, as clients were more likely to stick with him due to the value he provided beyond traditional accounting services.

Q&A:

Last week, I received topics regarding real estate, law firms, and accounting for professional services SMBs. While I will address other questions in the future, I found the themes of the accountant creativity topic had relevance and interest for other business owners as well. 

If you have any questions, please feel free to DM or email me at [email protected]. I'm always happy to connect, impact, and share.

UNLEASHING YOUR INNER MASTERMIND:

One of our fellow Masterminds sent me an example of an accountant's situation that highlights the importance of creativity to come up with new ideas, additional revenue streams, and positively impact retention.

To become a mastermind of any scenario, it is essential to solve problems, take actionable steps, implement SMB tips, evaluate the success of those implementations, and learn lessons from them.

Think Strategically, Act Purposefully. 

DP\

RESOURCES

Revolutionize Your SMB's Social Media Game - The "Must Have" 10 Growth Strategies to Check Off Now!  Download now

Read past issues of The Business Creator's Marketing Mastermind in The Business Creator's Marketing Mastermind Newsletter. 

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