november2021 - 11
MARKETING YOUR FIRM
How to Create a Press Kit if Your Firm
Acquires or Merges into Another
ARE YOU ABOUT to make a big change to your firm by either acquiring another
firm or by being acquired? Here is a press kit primer to help you organize the
announcements needed for clients, vendors, financial institutions, and other
interested parties. It's important to start this process well in advance of the
actual announcement date; at least six to nine months, if possible.
social media account profiles and images.
■ Combine and normalize CRM and newsletter data.
■ Craft client communication with discussion points,
letters to clients both pre- and post-merger or
■ Assemble a news release and implementation plan.
■ Construct promotional marketing initiatives and
advertising for at least the first six months post
■ Identify cross-servicing strategies and marketing
initiatives within key markets and niches.
■ Share a client satisfaction survey at the six- or
nine-month post-launch mark.
■ Write and record a 15- to 30-second video describing
the change and why it's happening.
■ Schedule photo shoots for promotional and
There are a lot of moving parts to M&A initiatives.
Here are ten elements to consider, but know there
are dozens more that could be added to the list. To
assist with that process, Hinge Marketing [https://
offers a detailed
M&A checklist for Professional Services firms.
■ Determine the name change and timeline; backup
from there six to nine months.
■ Consider branding updates, including logo, tag
line, printed materials, conference signage, phone
message talking points, telephone directory
■ Create a new logo and tag line.
■ Revise the website, update search engine optimization
keywords and meta tags, refresh local business
listings on Google, Bing, and industry websites, plus
HOW TO WRITE AN EFFECTIVE
M&A PRESS RELEASE
You've taken the steps to move your firm forward
and are ready to announce it to the world. But what
should you say? Fortunately, press release formats
have not changed much in the past 30 years. You
can search online for templates or create a custom
format. In either case, here are a few common items
■ Contact Information, including company website,
phone number, contact name, and email
■ Company Details - name (old / new), niche, firm's
missions, products / services,
■ Quote from involved parties (one from each
■ Boilerplate (about the companies)
■ Here's an example of a recent accounting firm
acquisition press release: https://www.cpapracticeadvisor.com/21237851
Keep in mind, social media is an extension of your
firm's marketing initiatives and should be included
NOVEMBER 2021 ■ www.CPAPracticeAdvisor.com
This short checklist will help you organize your
thoughts and identify team members for each action
item. There are several tasks within each. So having
a team to help with this process is helpful. There
are accounting marketing consultants that can
also assist with the heavy lifting. Reach out to the
Association for Accounting Marketing [https://www.
accountingmarketing.org] for a list of consultants.
■ Create an activity checklist for your team.
■ Develop a press release distribution or contact list
with names, titles, company, email, phone number,
and physical address.
■ Identify the audiences that should receive notice
about the change, e.g., vendors, clients, staff,
financial institutions, business associates, and more.
By Becky Livingston
in the plan. Depending on the firm's personality,
the announcement could be fun or more traditional.
Here are some examples for Facebook and LinkedIn:
■ " Our firm's family is growing "
We are excited to announce a new addition to
our family. Recently we [acquired/merged] with
[firm name] to offer our clients additional services
to help them to be more successful in their business
and/or personal lives. Learn more about our
expanded family and the new services we'll be
offering at [link to press release or video]. #Merger
■ " Our Firm is Expanding to Bring You More "
Our clients are our top priority and we want
to be more to you than just an accounting firm.
That's why we recently [merged/acquired] with
[firm name]. We now offer you more expertise in
the [service line] area(s) to help you and/or your
business to grow. Learn more about our recent
change at [link to press release or video]. #Merger
Forbes recently shared its " Top Five Tips for Successful
Mergers and Acquisitions, " (https://tinyurl.com/
u254m4fa) The tip I want to leave you with is that
culture is key and it starts with top-down, inclusive
" Encourage employees to use words like " ours "
and " we " : Our clients, our staff, we secured, etc., "
wrote Forbes Business Council member Lauren
Shifrin. " This is of critical importance for a strong
corporate culture. "
Without it you could risk creating an unhealthy
work environment that extends beyond the confines
of the firm's walls. ■
Becky Livingston is the President and CEO of Penheel
Marketing, a NJ-based firm specializing in social media
and digital marketing for CPAs.
Table of Contents for the Digital Edition of november2021
From the Editor: CPE for Free at Ensuring Success
Quick Networking Tips Your Can Implement Today
Technology: A Critical Driver of M&A Synergy
How to Better Manage and Track Your CPE Credits
How to Find the Right Buyer for an Accounting Firm
Modernizing Outdated Areas of Your Accounting Firm
Marketing Your Firm: How to Create a Press Kit if Your Firm Acquires or Merges into Another
From the Trenches: Continuous Education to Meet Technology Changes
The ProAdvisor Spotlight: Productivity Innovations Announced at QuickBooks Connect 2021
The Leadership Advisor: Self-Care for Busy Accountants
The Labor Law Advisor: The Pandemic: Unforseen Events and Unforced Errors
The Millennial Advisor: Every Action Matters
The Staffing & HR Advisor: Staying Ahead of the Curve: What's New in Accounting for 2022?
Apps We Love: Lifestyle Apps
Trust & Empowerment: Two Keys to Emerging Unscathed from the Great Resignation
AICPA News: A round up of recent association news and events
Bridging the Gap: 5 Growth Trends for 2022
november2021 - 1
november2021 - 2
november2021 - 3
november2021 - From the Editor: CPE for Free at Ensuring Success
november2021 - Quick Networking Tips Your Can Implement Today
november2021 - Technology: A Critical Driver of M&A Synergy
november2021 - How to Better Manage and Track Your CPE Credits
november2021 - How to Find the Right Buyer for an Accounting Firm
november2021 - 9
november2021 - Modernizing Outdated Areas of Your Accounting Firm
november2021 - Marketing Your Firm: How to Create a Press Kit if Your Firm Acquires or Merges into Another
november2021 - From the Trenches: Continuous Education to Meet Technology Changes
november2021 - 13
november2021 - The ProAdvisor Spotlight: Productivity Innovations Announced at QuickBooks Connect 2021
november2021 - The Leadership Advisor: Self-Care for Busy Accountants
november2021 - The Labor Law Advisor: The Pandemic: Unforseen Events and Unforced Errors
november2021 - The Millennial Advisor: Every Action Matters
november2021 - The Staffing & HR Advisor: Staying Ahead of the Curve: What's New in Accounting for 2022?
november2021 - Apps We Love: Lifestyle Apps
november2021 - Trust & Empowerment: Two Keys to Emerging Unscathed from the Great Resignation
november2021 - 21
november2021 - AICPA News: A round up of recent association news and events
november2021 - Bridging the Gap: 5 Growth Trends for 2022
november2021 - 24