integrated marketing strategies for cpas
DESCRIPTION
Presented at AICPA PS Tech 2011TRANSCRIPT
Pre-Conference: Workshop #102
Using Integrated Marketing Strategies for Exponential Results
Michelle Golden, CPF Eric Majchrzak
Today.
• What to plan • How to decide • Who’s the buyer
• How to plan • Organizing and execu/ng campaigns • What results to expect & when
• Tracking progress
Defini/ons.
MARKETING Any ac/on, behavior and process that: • Ensures repeat business from current customers • Compels prospec/ve buyers to hire you CAMPAIGN A process—with a beginning, middle, and ending—to promote a par/cular offering
INTEGRATED MARKETING The use of mul/ple marke/ng tac/cs or channels (i.e., tools) within a single campaign
Effec/ve marke/ng.
• You’re findable • Illustrate uniqueness & character • Support claims of exper/se
• Demonstrate “thinker” & up-‐to-‐date
• Personally accessible • Others know & respect you • From stodgy back to “grassroots” marke/ng
Image: lydiaboote (flickr)
Posi/oning for growth.
1. Credibility + visibility = key 2. Evidence as a key player
and readily available (W.O.M.)
3. Awareness among unknown RSs
4. Reach desired clients 5. Get face-‐to-‐face mee/ngs with top prospects
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Visibility + Credibility = KEY
NOT A NEW FORMULA, THIS IS CLASSIC MARKETING
LEADS
INVOLVEMENT
Levels of marke/ng.
Passive
Present
Engaged
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WHAT ARE SOCIAL MEDIA?
A con,nually changing set of tools and their users(!) that facilitate informa,on sharing and rela,onships. Online.
Image: ironrodart (flickr)
Social Media
1. Engagement 2. Self-‐publishing
• Can successfully do eng w/o self-‐pub
• Self-‐pub is marke/ng holy grail for PSFs
• w/out eng, SM is merely passive marke/ng
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WHAT TO PLAN
Why posi/on a specialty.
1. Stand apart more appealing + easier to find + compelling to buy from = higher close rate
2. Develop ‘GO-‐TO’ status step to front of line for quality referrals & publicity opportuni,es
3. People pay more for specialists
4. Aoract recruits to a solid clientele 5. Create a more valuable prac/ce
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Compe2ng on price (i.e., without other dis2nguishers)
Reduced percep2on of value by client = less
apprecia2on
Non-‐euphoric aCtude going into the work (less $ & respect)
Lower 2me investment (realiza2on pressure) = less la2tude to go
“extra mile”
Reduced quality & pro-‐ac2vity perceived by client (who seems to forget cheap price)
Low team enthusiasm for the project = less pleasant aCtude
Less chance of rehire & referral by client
(affects reputa2on)
Increased need to sell new work to cold leads
Vicious Circle: Perils of Compe2ng on
Price Alone
16 16 Image: dstomp (flickr)
Individual vs. firm.
INDIVIDUAL
• Business performance • Seqng/managing/mee/ng
expecta/ons
• Service quality • Rela/onships
• Conversa/ons • Online & off
• Visibility • Events/ac/vi/es • Media
FIRM
• Collec/ve web presence • Collec/ve public rela/ons • Collateral • Adver/sing • Event planning • Sponsorships • Direct marke/ng
Current Clients
COIs
New Biz
Credibility
Skill/Svc Dev
Expecta2on Management Conversa2ons/Listening Debriefs (BARs/AARs) Delega2on Face Time Industry/Org Par2cipa2on Succession/Transi2on Service Grid
Conversa2ons/Listening Clarify Messages (educate) Face Time/Follow-‐up Reciprocity/Reward (track) Target
Innova2on (new solu/ons/ products, dev processes, improve effec/veness)
Con2nuing Ed (new, advanced)
Apply Industry Knowledge (id KPIs/sector, studies, surveys)
Worthiness of Trust (behavior, impression, respectable ext/int)
Competence (write, speak, lead)
Capability Evidence (case studies, tes/monials, representa/ve clients,)
Involvement (visible in core markets) ID/Study/Refine
Conversa2ons/Listening Face Time/Follow-‐up Demonstrate Relevance, Credibility, Trustworthiness
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Marke/ng ac/ons.
Current Clients
COIs
New Biz
Credibility
Skill/Svc Dev
Expecta2on Management Conversa2ons/Listening Debriefs (BARs/AARs) Delega2on Face Time Industry/Org Par2cipa2on Succession/Transi2on Service Grid
Conversa2ons/Listening Clarify Messages (educate) Face Time/Follow-‐up Reciprocity/Reward (track) Target
Innova2on (new solu/ons/ products, dev processes, improve effec/veness)
Con2nuing Ed (new, advanced)
Apply Industry Knowledge (id KPIs/sector, studies, surveys)
Worthiness of Trust (behavior, impression, respectable ext/int)
Competence (write, speak, lead)
Capability Evidence (case studies, tes/monials, representa/ve clients,)
Involvement (visible in core markets) ID/Study/Refine
Conversa2ons/Listening Face Time/Follow-‐up Demonstrate Relevance, Credibility, Trustworthiness
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Marke/ng ac/ons.
Must be found online.
• LinkedIn profile (solid) • Google profile (claim) • Solid bio on your websites • Twioer? • Facebook? • Blogs?
When they find you, what do people see? © 2010 Golden Prac/ces Inc
Build YOUR house
Target Personas and their COIs
Specific Skills, Services & Expertise
Triggers/ Situational Needs
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Who’s buying.
Target Personas and their COIs
Specific Skills, Services & Expertise
Triggers/ Situational Needs
Consider both in messaging: Target Personas & COIs
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Basic model for all messaging.
HOW TO PLAN
IMSF
Integrated Marke/ng Strategy Framework 1. Establishes business objec/ves 2. Addresses key details for each marke/ng
ini/a/ve 3. Sets expecta/ons for results
Grid format easiest to spot missing info
Framework.
1. Clarity of purpose • Who/Where • So That • By When
2. Details of approach • How/Steps • When/Steps
3. Expecta/on management • How/Assess • When/Assess
Framework grid.
American Institute of CPAs
Case study: Tax credit locator
ERIC MAJCHRZAK
American Institute of CPAs
Tactics Align with Sales Cycle
Screening (AWARENESS)
Evaluation (INTEREST)
Decision-making (DESIRE)
Procurement (ACTION)
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Use Value Offers and Experiences to Market
! Legislative overviews ! Whitepapers ! Industry surveys ! Checklists ! Case studies ! Book ! Webcasts ! Free consultations ! Diagnostic tools
Make the intangible, tangible!
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“Typical” Niche Integrated Marketing Plan
Marketing Tactics Initiative Responsible Completion by? Metric? Aligns w/which goal? (Purpose)
Jan Feb March
Targeted Account Activities Conferences/Sponsorships Memberships Advertising (Radio, Print, Outdoor) Collateral Thought leadership materials Internal marketing Direct Marketing Public Relations Website Traditional Networking Social Media
! Situation Analysis
! Marketing Objectives ! Marketing Strategies ! Marketing Tactics
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CASE STUDY:
Tax credit locator
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Direct mail
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Print ads
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Tax credit commercial on Buffalo Bills Radio Network
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Engagement on Blogs
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Promote tax credits on LinkedIn
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Use status updates to inform network about tax credit locator
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Join groups to expand dialogue on LinkedIn
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Social Media Monitoring w/helpful answers
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Talking tax credits on Twitter
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Promote tax credits on Facebook
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Targeted tax credit advertising on social networking sites
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Social Media and search engine optimization
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50 state strategy with search engines
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“Earned Media” Placements Re: Tax Credits
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Mobile Marketing: Tax Credits
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Newsletter: Tax Credits
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Digital billboards: Tax Credits
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Campaign results: ROI
Tax credit locator: 10 week campaign @ Cost $15,000
! Average 5-8 new contacts/prospects per day using the tool ! 10 week total to date: 490 new contacts/prospects ! 35% (or 171) of prospects eligible for tax credits ! Website traffic spiked 20% ! We have answered over 500 questions
relating to tax credits via all channels ! $100k worth of engagements to date
SM? Pick your purpose.
1. Customer service/reputa/on enhancement • Create proac/ve fan base • Monitor • Make problems right
2. Business development • Build/strengthen business rela/onships • Interact, share • Credibility • Build team, recrui/ng
3. Just to learn (passive, but OK place to start)
Which tool for what?
Who is Cut Out for Blogging?
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Great content.
Preven/on
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RESULTS & TRACKING
Overlay. New Sales Per Month
2003 2004 2005 2006 2007 2008 2009
Begin SEO
Teach team about SM
Launch new website
Integrate website into all marke/ng
Begin Twee/ng
Launch Facebook Page
Track men/ons.
• Where did it appear? • Who said it?
• What was said? (categorize – clip file)
• Was it about par/cular dept or person?
• Was it posi/ve, neutral, or nega/ve?
• Did it include reference to page? Which?
• Who responded? How fast? (clip)
Key points.
• Grassroots marke/ng builds rela/onships • Expect lead results only when engaged • Right tool for the job • Rule of Three (or more)
• Be a reliable, credible source of knowledge • Content-‐based strategies + human interac/on keep your marke/ng alive!
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American Institute of CPAs
Questions?
Eric Majchrzak [email protected]
Linked In: linkedin.com/in/ericmajchrzak
Twitter: @FreedMaxickCPAs
Michelle Golden [email protected]
Linked In: linkedin.com/in/michellegolden
Twitter: @michellegolden
Web: goldenpracticesinc.com
Blog: goldenpractices.com
American Institute of CPAs
Speaker Biography
Michelle Golden is a business advisor with a deep knowledge of CPA firm operations and sharp observation skills. On the forefront of innovative practice management strategies, she is a senior fellow of VeraSage Institute, the think tank for advancing the professions. She’s named in Accounting Today as one of Ten Most Powerful Women in Accounting (2009) and one of the Top 100 Most Influential People in Accounting (2010).
Through sound strategies and effective communications, she’s helped more than 100 firms achieve results such as: doubling revenue, attracting top talent, aligning operations with long-term objectives, effectively communicating their differentiation both online and off, substantially increasing sales/proposal results, new product development and launch, and strengthening relationships with clients.
Michelle Golden, CPF
Providing practice management counsel, Michelle leads strategic planning processes, marketing (niche and individual) planning, conducts 360 degree evaluations, facilitates problem solving, and inspires organizational improvement. As an IAF Certified Professional Facilitator, Michelle brings helps groups progress in a constructive manner.
American Institute of CPAs
Speaker Biography
Eric Majchrzak is the Director of Marketing of Buffalo, NY-based Freed Maxick & Battaglia, CPAs, a “Top 100” largest CPA firm in the U.S. He has 20 years of experience in marketing, media and sales. Eric drives revenue for his Firm by leveraging integrated marketing strategies that include traditional and new media, including search engine marketing, mobile and social media. He was named one of Accounting Today’s “Top 100 Most Influential People” in 2010. He is a current Board member of the Association for Accounting Marketing (AAM) and Past-Chairman of AAM’s website committee. Eric has instructed courses on behalf of the Accounting Today Institute (Social Media Series). He was also named one of Buffalo, NY's "10 People to Watch in 2010" by the reporters and editors of Buffalo Business First. In 2006, he was honored nationally as the “Rookie Accounting Marketer of the Year” by AAM.
He has been published and profiled in several accounting trade and business publications, including the CPA Practice Management Forum, AICPA Insider, Accounting Today, Buffalo Business First, Chief Marketer Magazine, MarketingSherpa and Success Magazine. Eric and his firm were featured as a case study in the book Social Media Strategies for Professionals and their Firms, authored by Michelle Golden. He is a 1991 graduate of Buffalo State College. Connect with Eric on LinkedIn at http://www.linkedin.com/in/ericmajchrzak
Eric Majchrzak