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Marketing Your Business for STP2

The sheer volume of additional data is perhaps the most notable feature of STP2. This data expansion requires bookkeepers to develop a deep understanding of the multitude of new STP2 labels and codes in order to process payroll correctly.

While at first glace this might appear to be a significant burden on the bookkeeper, but when you look a little deeper it is also a tremendous opportunity. The complexities around STP2 will make it largely prohibitive for sole traders or small business to set-up their accounts and many will need help with the on-going management of their files. This opens a whole new untapped market for the astute bookkeeper.

In the coming days and months in the leadup to STP2 going live with the big software houses you can expect educational campaigns from the ATO and software houses themselves. Informing small business of the new requirements. As business digs deeper they will begin to realise the amount of time required to implement and manage STP2. To that end you might ask yourself, what are a few key points you should focus on in your marketing and sales pitch to new clients?

1. Time: remember most of these people are sole traders or will be managing a team of staff. Their time is precious to them, for most it will take them 2-3 times as long to complete an STP task as it would take you.
2. Saving them money: While it is true, they will need to pay for your services, as stated above you should be able to complete most takes at least 2-3 times as quick. That leaves the business owner more hours in the day to focus on their actual job and in the long run will save them money.
3. Accuracy: If there’s one take away from STP2 it is how important it is to be accurate. While some business owners have a knack for finer detail many look more at the bigger picture. As a bookkeeper accuracy is a core skill and something you can offer to a new client.
4. Be your client's trusted advisor: Like bookkeepers many business owners can feel isolated, like no one is there to help them, that they need to decipher hundreds of pages of STP2 documentation. Your expertise, guidance and re-assurance can be more valuable than anything!

To conclude, they key to any marketing is clearly presenting how you can solve a clients wants or needs. STP2 will create brand new client needs and bookkeepers are ideally placed to service these. While the initial learning will be time consuming, once you know the ins and outs of STP2 you will have a fantastic service that you can offer to clients. Focus on how you will solve their problems, don’t sell yourself short and remember, having a trusted advisor to talk things through with can be as valuable as the services you’re offering!