Innovative Strategic Partnerships Deepen Industry Specialization
Becca Robson, Ink Craft Content Creations and Laura Sparks, Creative Sparks, LLC
Industry specialization has become one of the most powerful ways to differentiate an accounting firm. As firms look to solidify their reputations as industry experts, many strike up strategic relationships with other businesses that target the same industry.
From co-marketing initiatives to formal joint venture agreements complete with revenue splitting, partnering with businesses outside the firm’s wheelhouse can unlock new pools of revenue.
At K•Coe Isom, ranked No. 69 on the 2018 Accounting Today Top 100 list, more than two-thirds of clients are in the food and agriculture industry. This laser focus makes the firm an attractive strategic partner for other businesses that serve farmers and ag producers.
“Our commitment to being industry experts helps us bring real experiences to our relationships,” says Jennifer Hertzig, brand leader. “We are entrenched in this market—from who we hire to who we partner with and how we work with clients. Many of our employees grew up on or around farms, and our hiring process is changing to capture more agribusiness students.”
The firm’s overarching objective for its strategic partnerships is to provide cutting-edge solutions to K•Coe clients and the wider agribusiness industry. The firm has entered two recent agreements to provide its clients access to sources of rich data they need to improve financial management and farm operations.
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About Elieen Monesson
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A business developer’s day involves a myriad of activities from external meetings with business owners and referral partners to scoping calls for initial client connections.