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Marketing on a Budget by Jill Lock, Isdaner & Company - Philadelphia area accounting firm headquartered on the Main Line
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Marketing on a Budget by Jill Lock, Isdaner & Company - Philadelphia area accounting firm headquartered on the Main Line


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Leverage limited resources efficiently with maximum impact on a shoestring budget! …

Leverage limited resources efficiently with maximum impact on a shoestring budget!

Effective Marketing Tools include:
-Evaluate using SWOT analysis
-Networking opportunities
-Press release/PR
-Newsworthy publicity
-Social media
-Google analytics
-Articles/published writing
-Award nominations
-Develop a database
-Build referral networks
-Client & service surveys
-Traditional methods (print, radio, TV)

Published in: Business, Technology

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  • -Philadelphia Inquirer reporter lifts tax article from e-newsletter to put in her article -Articles in newsletter have been lifted by other professional firms for their newsletters
  • -At least 3 times to promote event -Use of social media
  • -Jim Hamlet example: 5 – 10 years; officer; good for referrals – Union League
  • -Philadelphia Inquirer reporter used tax tool article as a resource -reporter wrote article about all the mergers, I sent a comment to him about it and our independence and trends we see
  • YouTube: make sure it is used professionally
  • -2 clients were recognized as finalists in various contests
  • - Retained a client as a result – partner problem identified and switched partner; about a $50,000 client
  • Red Box: 3 mailings – letter, postcard with ball, pretzels with call to action then followed up with call Sent to 350 prospects, got 5 warm leads – so far one became a client
  • -print/radio: why you should do it -WILM: financial report on radio -print ads in Delaware magazine for brand awareness
  • Transcript

    • 1. The Effective Marketer:Leverage Limited ResourcesEfficiently with Maximum Impacton a Shoestring BudgetJill LockDirector of MarketingIsdaner & Company
    • 2. My Background Sole marketing professional at fourregional accounting firms Limited resources available Different geographic areas Marketing budget less than $100,000 Three to nine partners, 35 to 65employees
    • 3. Marketing Budget 2 to 5% of total firm revenue What is your percentage?
    • 4. Look Back First Time is substitute for money Rate what you have been doing, whatworks well, and what has not beenworking as well Concentrate on what has been workingbest
    • 5. Determine What is Bestfor Your Firm Conduct SWOT analysis Identify niches served Identify marketing strengths Identify services to promote Evaluate geographic and media reach
    • 6. New Found Opportunities Review lost clients list Review prospects list bid on and notwon Pro – familiar with you, warm call Follow up – capture them now
    • 7. Seminars Highlight expertise of firm professionals Benefit of face to face May be costly – try to obtain speakingengagement through industryassociation Niche marketing better than generalbusiness association
    • 8. Seminars Sponsor your own or with a law firm orbank Fee or no fee Lots of promotion Used for Prospecting Providing value added service to clients Building referral relationships
    • 9. Networking Events Be selective Target prospects or referral sources Niche is better – your client niche andthe associations they belong to Get involved Building your network requires time andpatience – can take years but worth it
    • 10. 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 speakingengagement
    • 11. Newsworthy Publicity Make it relevant Make it unusual Isdaner Intriguegame board Ben Franklin visitsour firm Company activity forcharity Make it selective
    • 12. Special Events Lunch & Learns Marketing Banquets
    • 13. Media Relations Identify the right contacts at the publications:editor of small local newspaper, businessreporters Make an introduction – call them, take themout to lunch, give them information about yourfirm Suggest a story idea in relation to what is hotor what they are covering Follow up – add them to your database andcheck in
    • 14. Website & Blogs Make it relevant Showcase professionals, areas ofexpertise, industries served Blog – online personal journal Offer advice, news, and tips on a regularbasis Helps in SEO Time consuming
    • 15. Website OutsourcingTop Providers CPA Site Complete Site Axsen Accounting Web Creative Build Your Firm
    • 16. Blog Platforms WordPress Blogger Tumblr
    • 17. 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
    • 18. LinkedIn Builds your contacts Helps SEO Easy to set up firm and individualprofiles Research tool Answer questions
    • 19. Google Alerts Easy to do Follow clients, prospects, and referralsources for latest news Able to be responsive to latest news
    • 20. Google Analytics Helps optimize your website forimproved search ranking Check it frequently
    • 21. Article Writing Be selective – where do you want to getpublished, what do your clients read,what are your industry niches Suggest an article idea and share it withmedia professional at publication – isthere an interest? Get a commitment that the article isinteresting and will be published Newspaper column
    • 22. Published Articles Add to your website, LinkedIn, Twitter,Facebook, or enewsletter Display on company bulletin board Add to company scrapbook Share with clients, prospects andreferral sources electronically Build credibility Use on proposals when appropriate
    • 23. Cross Selling More than 50% of new business typicallycomes from existing clients Do they know all the services you offer? Do they know you are looking for other clientslike 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
    • 24. Personal Notes Find a reason – award won, mention inthe media, special milestone, interestingnews article Builds rapport with client, prospect, andreferral source Adds value – shows you rememberedtheir interest Best is handwritten, second typed snailmail, and lastly email – shows an effort
    • 25. Award Nominations Associations/newspapers seek nominationsfor various types of awards: top CFO, toplawyer, top banker, top CEO Write a nomination for a client, referralsource, or prospect Let them know and interview them for detailsto use in the nomination They will be flattered and may win therecognition deserved (idea from Sally Glick)
    • 26. Developing Database Business lists and associationdirectories Business cards from people you meetat networking events Meet and greets with bankers andlawyers Clients and their referrals
    • 27. Building Nonprofit Database Free searches
    • 28. Building Referral Networks Identify bankers, lawyers,financial/insurance agents that give youbusiness Build relationships by giving themreferrals Thank them, ask for more business Arrange meet and greets – can besocial or CPE related Add their names to database
    • 29. Client Survey of CompanyPerformance Electronic Face to Face Snail Mail Telephone
    • 30. Survey of SpecialInterests/Relevant Issues Conduct survey of clients & prospects Develop in relation to a special interestor hot issue Ask compelling questions Share results on enewsletter, website,Facebook and with media
    • 31. Collateral Materials Business cards, brochures, invitations,postcards, letterhead, proposals, etc. Templates Outsourcing
    • 32. Special Mailings Red Box/snail mail Electronic mail
    • 33. Importance of Enewsletter Showcase yourexpertise Publicize events &milestones Inexpensivecompared to snailmail Constant andconsistent – beremembered
    • 34. Enewsletter BizActions: Constant Emma: IContant:
    • 35. Copy for Enewsletter, Blogs,Newspaper Articles Internal expertise Outsource CCH: RIA/Thomson PDI Global: (now part ofThomson Reuters) Newkirk: Mostad & Christensen, Inc.:
    • 36. Other Ways to Market Print advertising to support client and employee causes to promote firm or service Radio advertising – offer to do anewscast Television advertising Sponsorships
    • 37. Use Multiple Marketing Channelsfor 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
    • 38. Recommended Reading Social Media Strategies for Professionals andTheir Firms – Author Michelle Golden Bull’s-Eye! The Ultimate How to Marketing &Sales Guide for CPAs – Editor Tracy CrevarWarren with Chapter Authors Client at the Core: Marketing and ManagingToday’s Professional Services Firm – AuthorsAugust Aquila and Bruce Marcus Managing the Professional Service Firm –Author David Maister