marketing on a budget by jill lock, isdaner & company - philadelphia area accounting firm...

The Effective Marketer: Leverage Limited Resources Efficiently with Maximum Impact on a Shoestring Budget

Jill LockDirector of MarketingIsdaner & Company

My Background

Sole marketing professional at four regional accounting firms

Limited resources available Different geographic areas Marketing budget less than

$100,000 Three to nine partners, 35 to 65

employees

Marketing Budget

2 to 5% of total firm revenue What is your percentage?

Look Back First

Time is substitute for money Rate what you have been doing,

what works well, and what has not been working as well

Concentrate on what has been working best

Determine What is Best for Your Firm

Conduct SWOT analysis Identify niches served Identify marketing strengths Identify services to promote Evaluate geographic and media

reach

New Found Opportunities

Review lost clients list Review prospects list bid on and

not won Pro – familiar with you, warm call Follow up – capture them now

Seminars

Highlight expertise of firm professionals

Benefit of face to face May be costly – try to obtain

speaking engagement through industry association

Niche marketing better than general business association

Seminars Sponsor your own or with a law firm

or bank Fee or no fee Lots of promotion Used for

Prospecting Providing value added service to clients Building referral relationships

Networking Events

Be selective Target prospects or referral sources Niche is better – your client niche

and the associations they belong to Get involved Building your network requires time

and patience – can take years but worth it

Publicity/Press Releases Write about a newsworthy event

Rollout of new service Promotions New staff Comment about industry benchmarks Awards won Speaking engagements at special events Professional designations

Prepare a media list with contacts – professional, business, geographic/neighborhood

May possibly be recycled into a speaking engagement

Newsworthy Publicity Make it relevant Make it unusual

Isdaner Intrigue game board

Ben Franklin visits our firm

Company activity for charity

Make it selective

Special Events

Lunch & Learns Marketing Banquets

Media Relations Identify the right contacts at the

publications: editor of small local newspaper, business reporters

Make an introduction – call them, take them out to lunch, give them information about your firm

Suggest a story idea in relation to what is hot or what they are covering

Follow up – add them to your database and check in

Website & Blogs Make it relevant Showcase professionals, areas of

expertise, industries served Blog – online personal journal

Offer advice, news, and tips on a regular basis

Helps in SEO Time consuming

Website Outsourcing Top Providers

CPA Site Solutionswww.cpasitesolutions.com

Complete Site Interactive www.completeinteractive.com

Axsen Accounting Web Design www.accountingwebdesign.com

Creative Solutions www.cs.thomsonreuters.com

Build Your Firm www.websites.buildyourfirm.com

Blog Platforms WordPress Blogger Tumblr

Social Media Benefits

Increase visibility Boost search engine optimization Check out the competition Determine common traits with other users Free

LinkedIn Facebook Twitter Google+ YouTube

LinkedIn

Builds your contacts Helps SEO Easy to set up firm and individual

profiles Research tool Answer questions

Google Alerts

Easy to do Follow clients, prospects, and

referral sources for latest news Able to be responsive to latest

news

Google Analytics

Helps optimize your website for improved search ranking

Check it frequently

Article Writing Be selective – where do you want to

get published, what do your clients read, what are your industry niches

Suggest an article idea and share it with media professional at publication – is there an interest?

Get a commitment that the article is interesting and will be published

Newspaper column

Published Articles

Add to your website, LinkedIn, Twitter, Facebook, or enewsletter

Display on company bulletin board Add to company scrapbook Share with clients, prospects and

referral sources electronically Build credibility Use on proposals when appropriate

Cross Selling More than 50% of new business

typically comes from existing clients Do they know all the services you offer? Do they know you are looking for other

clients like them? Tell them

Talk to them over lunch or other event Include information on emails/enewsletters Invite them to niche/service events

Get involved in their industry associations

Personal Notes Find a reason – award won, mention in

the media, special milestone, interesting news article

Builds rapport with client, prospect, and referral source

Adds value – shows you remembered their interest

Best is handwritten, second typed snail mail, and lastly email – shows an effort

Award Nominations Associations/newspapers seek nominations

for various types of awards: top CFO, top lawyer, top banker, top CEO

Write a nomination for a client, referral source, or prospect

Let them know and interview them for details to use in the nomination

They will be flattered and may win the recognition deserved (idea from Sally Glick)

Developing Database

Business lists and association directories

Business cards from people you meet at networking events

Meet and greets with bankers and lawyers

Clients and their referrals

Building Nonprofit Database

Free searches www.guidestar.org www.charitynavigator.org www.idealist.org

Building Referral Networks Identify bankers, lawyers,

financial/insurance agents that give you business

Build relationships by giving them referrals

Thank them, ask for more business Arrange meet and greets – can be

social or CPE related Add their names to database

Client Survey of Company Performance

Electronic Face to Face Snail Mail Telephone

Survey of Special Interests/Relevant Issues

Conduct survey of clients & prospects

Develop in relation to a special interest or hot issue

Ask compelling questions Share results on enewsletter,

website, Facebook and with media

Collateral Materials Business cards, brochures, invitations,

postcards, letterhead, proposals, etc. Templates

www.baudville.com www.paperdirect.com www.123print.com

Outsourcing www.mostad.com www.pdiglobal.com

Special Mailings Red Box/snail

mail Electronic mail

Importance of Enewsletter Showcase your

expertise Publicize events &

milestones Inexpensive

compared to snail mail

Constant and consistent – be remembered

Enewsletter

BizActions: www.bizactions.com Constant Contact:

www.constantcontact.com Emma: www.myemma.com IContant: www.icontact.com

Copy for Enewsletter, Blogs, Newspaper Articles

Internal expertise Outsource

CCH: www.cch.com RIA/Thomson Reuters:

www.ria.thomsonreuters.com PDI Global: www.pdiglobal.com (now part of

Thomson Reuters) Newkirk: www.newkirk.com Mostad & Christensen, Inc.: www.mostad.com

Other Ways to Market

Print advertising to support client and employee causes to promote firm or service

Radio advertising – offer to do a newscast

Television advertising Sponsorships

Use Multiple Marketing Channels for Greater Impact

Read about company in the newspaper

Attend a company sponsored seminar

Receive electronic newsletter/alert Visit your website, LinkedIn,

Facebook Meet at a networking event

Recommended Reading Social Media Strategies for Professionals

and Their Firms – Author Michelle Golden Bull’s-Eye! The Ultimate How to Marketing

& Sales Guide for CPAs – Editor Tracy Crevar Warren with Chapter Authors

Client at the Core: Marketing and Managing Today’s Professional Services Firm – Authors August Aquila and Bruce Marcus

Managing the Professional Service Firm – Author David Maister