Integrated Marketing Strategies for CPAs

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Integrated Marketing Strategies for CPAs

  1. 1. Pre-Conference: Workshop #102Using Integrated Marketing Strategies forExponential ResultsMichelle Golden, CPFEric Majchrzak
  2. 2. 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  
  3. 3. 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  
  4. 4. 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  
  5. 5. Image:  lydiaboote  (flickr)  
  6. 6. 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   6  
  7. 7. Visibility  +  Credibility  =  KEY   NOT  A  NEW  FORMULA,        THIS  IS  CLASSIC  MARKETING  
  8. 8. Levels  of  marke/ng.   Engaged     LEADS   Present   Passive   INVOLVEMENT  goldenprac/ces.com   8  
  9. 9. WHAT  ARE            SOCIAL  MEDIA?  
  10. 10. Image:  ironrodart  (flickr)  A  con,nually  changing  set  of  tools    and  their  users(!)  that  facilitate  informa,on  sharing  and  rela,onships.  Online.  
  11. 11. 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  goldenprac/ces.com   12  
  12. 12. WHAT  TO  PLAN  
  13. 13. 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  ©  2010  Golden  Prac/ces  Inc   14
  14. 14. Compe2ng  on  price     (i.e.,  without  other   dis2nguishers)   Increased  need  to     Reduced  percep2on  of   sell  new  work     value  by  client  =  less   to  cold  leads     apprecia2on   Vicious  Circle:      Less  chance  of  rehire  &   Non-­‐euphoric  aCtude   referral  by  client      Perils  of  Compe2ng  on   going  into  the  work     (affects  reputa2on)   (less  $  &  respect)   Price  Alone   Lower  2me  investment   Low  team  enthusiasm   (realiza2on  pressure)     for  the  project  =  less   =  less  la2tude  to  go   pleasant  aCtude   “extra  mile”     Reduced  quality  &     pro-­‐ac2vity  perceived   by  client  (who  seems  to   forget  cheap  price)    
  15. 15. Image:  dstomp  (flickr)   16   16
  16. 16. Individual  vs.  firm.  INDIVIDUAL   FIRM  •  Business  performance   •  Collec/ve  web  presence   •  Seqng/managing/mee/ng   •  Collec/ve  public  rela/ons   expecta/ons   •  Collateral   •  Service  quality   •  Adver/sing  •  Rela/onships   •  Conversa/ons   •  Event  planning   •  Online  &  off   •  Sponsorships  •  Visibility   •  Direct  marke/ng   •  Events/ac/vi/es   •  Media  
  17. 17. Marke/ng  ac/ons.  Innova2on  (new  solu/ons/   Expecta2on  Management   products,  dev  processes,   Conversa2ons/Listening   improve  effec/veness)   Debriefs  (BARs/AARs)  Con2nuing  Ed  (new,   Delega2on   advanced)   Skill/Svc   Current   Face  Time  Apply  Industry  Knowledge   Dev   Clients   Industry/Org  Par2cipa2on   (id  KPIs/sector,  studies,   Succession/Transi2on   surveys)   Service  Grid  Worthiness  of  Trust     Credibility   COIs   (behavior,  impression,   Conversa2ons/Listening   respectable  ext/int)   Clarify  Messages  (educate)  Competence     Face  Time/Follow-­‐up   (write,  speak,  lead)   Reciprocity/Reward  (track)  Capability  Evidence     New  Biz   Target   (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   goldenprac/ces.com   18  
  18. 18. Marke/ng  ac/ons.  Innova2on  (new  solu/ons/   Expecta2on  Management   products,  dev  processes,   Conversa2ons/Listening   improve  effec/veness)   Debriefs  (BARs/AARs)  Con2nuing  Ed  (new,   Delega2on   advanced)   Skill/Svc   Current   Face  Time  Apply  Industry  Knowledge   Dev   Clients   Industry/Org  Par2cipa2on   (id  KPIs/sector,  studies,   Succession/Transi2on   surveys)   Service  Grid  Worthiness  of  Trust     Credibility   COIs   (behavior,  impression,   Conversa2ons/Listening   respectable  ext/int)   Clarify  Messages  (educate)  Competence     Face  Time/Follow-­‐up   (write,  speak,  lead)   Reciprocity/Reward  (track)  Capability  Evidence     New  Biz   Target   (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   goldenprac/ces.com   19  
  19. 19. 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  
  20. 20. Build  YOUR  house  
  21. 21. Who’s buying. Target Personas and their COIs Specific Skills, Triggers/ Services & Situational Needs Expertise©  2010  Golden  Prac/ces  Inc   22  
  22. 22. Basic model for all messaging. Target Personas and their COIs Specific Skills, Triggers/ Services & Situational Needs Expertise Consider both in messaging: Target Personas & COIs©  2010  Golden  Prac/ces  Inc   23  
  23. 23. HOW  TO  PLAN  
  24. 24. 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  
  25. 25. 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  
  26. 26. Framework  grid.  
  27. 27. Case study:Tax credit locatorERIC MAJCHRZAK American Institute of CPAs
  28. 28. Tactics Align with Sales Cycle Screening Evaluation Decision-making Procurement (AWARENESS) (INTEREST) (DESIRE) (ACTION) American Institute of CPAs
  29. 29. Use Value Offers and Experiences to MarketMake the intangible, tangible!!   Legislative overviews!   Whitepapers!   Industry surveys!   Checklists!   Case studies!   Book!   Webcasts!   Free consultations!   Diagnostic tools American Institute of CPAs
  30. 30. “Typical” Niche Integrated Marketing Plan !   Situation Analysis !   Marketing Objectives !   Marketing Strategies !   Marketing TacticsMarketing Tactics Initiative Responsible Completion by? Metric? Aligns w/which Jan Feb March goal? (Purpose)Targeted Account ActivitiesConferences/SponsorshipsMembershipsAdvertising (Radio, Print,Outdoor)CollateralThought leadershipmaterialsInternal marketingDirect MarketingPublic RelationsWebsiteTraditional NetworkingSocial Media American Institute of CPAs
  31. 31. CASE STUDY:Tax credit locator American Institute of CPAs
  32. 32. Direct mail American Institute of CPAs
  33. 33. Print ads American Institute of CPAs
  34. 34. Tax credit commercial onBuffalo Bills Radio Network American Institute of CPAs
  35. 35. Engagement on Blogs American Institute of CPAs
  36. 36. Promote tax credits on LinkedIn American Institute of CPAs
  37. 37. Use status updates toinform network about tax credit locator American Institute of CPAs
  38. 38. Join groups to expand dialogue on LinkedIn American Institute of CPAs
  39. 39. Social Media Monitoring w/helpful answers American Institute of CPAs
  40. 40. Talking tax credits on Twitter American Institute of CPAs
  41. 41. Promote tax credits on Facebook American Institute of CPAs
  42. 42. Targeted tax credit advertisingon social networking sites American Institute of CPAs
  43. 43. Social Media and search engine optimization American Institute of CPAs
  44. 44. 50 state strategy with search engines American Institute of CPAs
  45. 45. American Institute of CPAs
  46. 46. “Earned Media” Placements Re: Tax Credits American Institute of CPAs
  47. 47. Mobile Marketing: Tax Credits American Institute of CPAs
  48. 48. Newsletter: Tax Credits American Institute of CPAs
  49. 49. Digital billboards: Tax Credits American Institute of CPAs
  50. 50. Campaign results: ROITax 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 American Institute of CPAs
  51. 51. 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)  
  52. 52. Which  tool  for  what?  
  53. 53. Who  is  Cut  Out    for  Blogging?  ©  2010  Golden  Prac/ces  Inc   31  
  54. 54. ©  2010  Golden  Prac/ces  Inc   32  
  55. 55. Great  content.   Preven/on  ©  2010  Golden  Prac/ces  Inc   33
  56. 56. RESULTS  &  TRACKING  
  57. 57. Overlay.     Begin  New  Sales    Per  Month   Twee/ng   Integrate   Launch   website  into     Facebook  Page   all  marke/ng   Launch  new   website   Teach  team   about  SM   Begin  SEO                                2003                  2004              2005                2006                2007                2008              2009    
  58. 58. 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)  
  59. 59. 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!   37  
  60. 60. Questions?Michelle Goldenmichelle@goldenpractices.com Blog: goldenpractices.com Web: goldenpracticesinc.com Linked In: linkedin.com/in/michellegolden Twitter: @michellegoldenEric Majchrzakeric.majchrzak@freedmaxick.com Linked In: linkedin.com/in/ericmajchrzak Twitter: @FreedMaxickCPAs American Institute of CPAs
  61. 61. Speaker BiographyMichelle Golden, CPF 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.Providing practice management counsel, Michelle leads strategic planning processes, marketing (nicheand individual) planning, conducts 360 degree evaluations, facilitates problem solving, and inspiresorganizational improvement. As an IAF Certified Professional Facilitator, Michelle brings helps groupsprogress in a constructive manner. American Institute of CPAs
  62. 62. Speaker BiographyEric Majchrzak 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, NYs "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, includingthe CPA Practice Management Forum, AICPA Insider, Accounting Today, Buffalo Business First, ChiefMarketer Magazine, MarketingSherpa and Success Magazine. Eric and his firm were featured as acase study in the book Social Media Strategies for Professionals and their Firms, authored by MichelleGolden. He is a 1991 graduate of Buffalo State College. Connect with Eric on LinkedIn at http://www.linkedin.com/in/ericmajchrzak American Institute of CPAs

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