marketing on a budget by jill lock, isdaner & company - philadelphia area accounting firm...
DESCRIPTION
Leverage limited resources efficiently with maximum impact on a shoestring budget! Effective Marketing Tools include: -Evaluate using SWOT analysis -Seminars -Networking opportunities -Press release/PR -Newsworthy publicity -Website -Blog -Social media -Google analytics -Articles/published writing -Cross-selling -Award nominations -Develop a database -Build referral networks -Client & service surveys -Materials/Mailings -Newsletter -Traditional methods (print, radio, TV)TRANSCRIPT
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
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