"I'm really upset that my CPA took me to lunch," said no client, ever.
As professional service providers, we're always looking for ways to get in front of our best clients and provide value.
How about inviting your clients to lunch like we used to? As the old saying goes: "Everybody eats lunch." I love lunch, too. But CPAs often think to themselves: "I bill X dollars per hour. It's costly for me to go to lunch with a client during the middle of the day. Coordinating schedules with clients can be tough as well. Besides, how many client lunches can you really have every week or month?"
Solution
Invite a small group of your best clients and prospects to a monthly lunch gathering. Pick a relevant topic for each group lunch. Consider inviting another professional from your network (or your firm) to speak to the group. For instance, you could invite a local estate attorney to discuss planning for the estate exemption that's scheduled to sunset at the end of 2025. At the following lunch, you could invite a company benefits specialist to discuss new programs and benefits that attendees could offer their employees. You get the idea.
The point is to leverage the value of your time by getting in front of multiple A-list clients at scale. It's a great way to let them see you, hear you, and ask questions in an intimate setting. But small group lunches are not as time-consuming as one-on-one lunches.
The goal is not to host a 50-person lunch, by the way. It's one table maximum — 10 to 12 clients and prospects. The problem with a larger lunch is that you're no longer having conversations; you're presenting. That means you can't spend quality time with anyone, and attendees are not likely to come back for the next one.
By keeping the gatherings small, you'll spend quality time with your best clients and prospects. Before you know it, word will get around about how great your regular lunches are. More people will want to attend. Again, stay within the one-table limit. If there's too much demand, just have more lunches!
If you're unsure what to discuss at lunch, think about the questions that your clients keep asking you. Are you noticing a common thread, such as exit planning, cost segregation or estate planning? Chances are you have professionals in your network who can speak expertly about those topics. Bring them in to address the group — absolutely no sales pitches allowed! Attendees will appreciate the expertise in a relaxed setting. Most people would rather listen to an engaging conversation between experts than get preached to by a single person.
Getting started
To get 10 or 12 busy clients to show up for lunch on the same day, you'll need to invite closer to 30. That might seem like a lot. But take a step back and think about what you hope to accomplish at these lunches. You're touching base with your best clients and letting them know you appreciate them. What do they appreciate more than having their trusted advisor invite them to a really nice lunch to talk about something they value? Even those who can't come will appreciate the invitation and will ask to be included at the next one.
I know what you're thinking: "Kyle, I don't have time to coordinate all these lunches." You're right; you shouldn't be the one responsible for filling seats. Your staff can run all the invites through Paperless Post, Evite or one of the other online invitation apps. We use those tools instead of just sending emails because the online invites look very professional, and they make it easier to track RSVPs and maybes.
You could follow up with a personal phone call for your very best clients. In the invitation, you can also offer clients the opportunity to "bring a friend who might find value in this information." I guarantee those prospects' accountants are not hosting lunches like this.
How do you pick the 30 invitees? Start by inviting your 30 biggest clients and by inviting a speaker whose expertise is broad. At the next lunch, you can invite 30 of your wealthiest clients who you know are philanthropically inclined. You can see on client tax returns who's making the most significant charitable contributions. So, bring in a professional from your network who's an expert in donor-advised funds. At the following lunch, you could invite 30 of your business owner clients and bring in an expert on exit planning. See the pattern?
Find a nice restaurant and reserve a private room so you're not distracted by the other diners. You don't need to break the bank with a steak dinner and wine. Lunch is also a more manageable time commitment for most people. So do lunch and respect your clients' time. Really, they want to see and hear you talking about something important to them. You get to shake hands, reconnect and answer lots of questions on the fly. And clients will leave feeling like they got to spend quality time with their trusted advisor — and other like-minded individuals who share their financial concerns.
By the way, don't forget about the 20 clients and prospects who weren't able to attend each time. Now you have a reason to follow up with them: "Hey, we missed you at lunch. Here are a few bullet points of what we covered." Now you have multiple touch points with three dozen of your highest-value clients, and it only costs you about two hours of your time. You'll get incredible feedback from your clients.
These lunches are especially effective for your business owner clients. The one thing most business owners lack is the ability to interact with other business owners. The lunches could lead to Mastermind groups. For more, see
Give each attendee 30 seconds to introduce themselves. They could start doing business with each other. That's how you create a tribe at your firm. And again, the experts you bring to address the group will be happy to expand their networks. They know they can't do a hard sell.
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