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Getting the Right Balance: That Modern Digital Marketing Sound




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     Posted by The Chief Outsider on Thu, Aug 23, 2012 @ 05:28 PM

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     Our guest blogger Mike Bowlan is principal, director of marketing at Brown Smith Wallace
                                                                                                                                                                     Outsiders
     When you think about how modern day CPA and other professional service firms are "going
     to market", it’s much like the takeover of music by digital recording.  Many think digital
     marketing is THE way, the new Mecca (Records).  There’s no question that you can put out a
     pound of productive marketing sound with digital marketing.  But, as many very talented
     musicians have cautioned, don’t forget the value of analog. Traditional marketing still has its
     place, particularly the often, overlooked basics.

     Digital Marketing Is Transforming Firms Marketing
                                                                                                                                                                     Latest Posts
     Firms have ramped up their inbound marketing, taken deep dives into social media marketing, optimized their websites to the hilt,
     and scrubbed their CRM systems to as squeakily clean a point as they can get.  Digital marketing has definitely gone to the top of                                Getting Naked With Patrick
     the charts.                                                                                                                                                       Lencioni

     All these tools help a professional services firm improve its marketing.  They provide ways to more fully leverage intellectual                                   Jersey Cool - Tech Meetup in
     capital and professional networking.  The more digital marketing is leveraged, the better the chances are for success.  And, the                                  Hoboken, NJ
     more accounting and other firms are pushed into these areas by the marketplace and their marketers, the more likely they are to
     thrive and survive.                                                                                                                                               Don't Get Too Fat and Happy

     Success In St. Louis                                                                                                                                              Getting the Right Balance:
                                                                                                                                                                       That Modern Digital
     Certainly, I’ve been pushing my firm to get into digital marketing since I came to St. Louis five years ago.  When I arrived, we were                             Marketing Sound
     doing a lot of print ads, a lot of mundane administrative and party planning types of support for events and not a whole lot of
     digital. We didn’t have a strategic plan. Since then, we’ve cut way down on our ads, and have redirected those funds and efforts                                  Once Burned,Twice Shy:
     to our much more cost effective online marketing, social media, SEO, video and CRM efforts. While doing so we’ve reduced the                                      CEOs Aren't Quick To Trust
     budget from 4 to 3% of revenue but we’ve got much more muscle in it so that as our results increase and the economy improves,                                     CMOs?
     we will be able to increase our spend supported by our improved ROI.   
                                                                                                                                                                       Overcoming Team Building
     We’ve made huge progress.  By the end of the month, we will have a site whose technology finally matches the robust content                                       Resistance
     we’ve been stocking it with in recent years. We’ve entered the social media age with a bit of a bang through Kyle’s CPA Video
                                                                                                                                                                       Mid-Size CEOs: What Can A
     Blog, a humorous, atypical approach to accounting and tax news.  The latest edition tackles Health Care Reform and can be seen
                                                                                                                                                                       CMO Do For You?
     here.  Our CRM system has recently been truly revolutionized through some cool tools, like eGrabber, and we’ve finally
     assembled most of our clients and prospects emails into the system.                                                                                               What To Do When Your
                                                                                                                                                                       Sales Are Up But Your
     I am pleased to say that it’s working. Last year, we were recognized as the second fastest growing firm nationally in our revenue
                                                                                                                                                                       Profits Aren't?
     category by INSIDE Public Accounting.  Through the first half of 2012, we’ve grown over 10%.  In the last two years, we have
     provided services to 40% of the top 50 private companies in St. Louis and 31 of the top 40 publicly traded companies.  Seven                                      CEO Strategies: A/B Testing:
     years ago we didn’t serve any public companies or nearly as many large private companies.                                                                         What is it and Why is it
                                                                                                                                                                       Important?
     Humorous Videos Are Working
                                                                                                                                                                       How Do Successful CEOs
     Specifically, regarding Kyle’s videos, they’ve had over 4,500 views to date.  Our website traffic has increased more than 30% in a
                                                                                                                                                                       Make SEO Expenses Pay
     YOY comparison with the introduction of his vlogs. Our repeat visits increased over 70% in that same comparable period.  During
                                                                                                                                                                       Off?
     June, when we introduced the third episode, 14% of our website visitors came because of Kyle’s vlog and nearly 84% of these




http://www.chiefoutsiders.com/blog-0/bid/89856/Getting-the-Right-Balance-That-Modern-Digital-Marketing-Sound[8/31/2012 3:03:19 PM]
Getting the Right Balance: That Modern Digital Marketing Sound

     were new visitors. In addition to having been featured in CPA Trendlines on two occasions, we have also received home page
     coverage from CPA Practice Advisor, appeared in Accounting Today and Accounting Tomorrow and been featured twice in The
     Summa Blog of Professor David Albrecht, one of Accounting Today’s top 100 most influential people. Kyle’s vlog was also
     featured in the Hinge Marketing Agency’s blog post, “Top Ten Branding Ideas for Professional Services Firms,” and, is soon to be      Most Popular Posts
     the subject of an article in the “Marketing Ideas for CPAs” blog, BBR Marketing.
                                                                                                                                            Growth Opportunity: The
     We have other digital marketing developments coming, including a serious video channel on key business issues. These will              Demand Chain
     include overviews and more detailed descriptions on video of how we can help solve the issues so we can provide video
     information for prospects at different levels of the sales funnel.                                                                     3 Top Sources of Strategic
                                                                                                                                            Marketing Insights
     Can Firms Live On Digital Alone?
                                                                                                                                            Planning Season Kick-off:
     No, nor should they be covering their ears to all the clamor.  There is much more firms could do, including involving Marketing in     "Hope Is Not A Strategy" - J.
     marketing to clients, integrating marketing and business development, whether BD be the partners and/or a BD team, and                 Rootes
     managing referrals with a system. Most importantly, you need to have a plan, a focus, targets, integrated marketing and business
     development efforts, a managed sales process, people who will network and follow up, and valid email addresses in your CRM             Four Must-Have Strategists
     system.                                                                                                                                Every CEO Needs

      It continues to amaze me that people who are all about processes can’t see why they make sense for their marketing and                The Five Frogs of Mid-Size
     business development efforts.  And, when you get down to it, it’s the basic blocking and tackling of marketing that makes for          Company Marketing
     success.  So, yes, digital marketing is fantastic.  But, no, it isn’t, nor should it be, all there is.
                                                                                                                                            7 Tactics for Customer
     Finding The Right Balance                                                                                                              Closeness

     Certainly, the reach and ROI of digital marketing is compelling.  But before jumping face first into the marketing mosh pit, you       Mobile Marketing Strategy or
     might ask: What is digital marketing replacing or eliminating in accounting marketing programs and budgets?  The answer should         “How Did They Know I was
     be many programs, but mostly to a degree, not to extermination.  Or, you might ask, what’s not working that used to? Well, for the     Hungry?”
     most part, a lot still does; again, it’s a matter of degree.
                                                                                                                                            CEOs: Getting Business
     We’ve moved our most costly marketing budget items from heavy print advertising to other areas.  The effort and financial              "From Here to There"
     investments now go into online marketing, SEO, videos, CRM and other technologies.  We’ve increased our reach, our ROI and,
                                                                                                                                            The CEO and the 9th Deadly
     at the same time, cut our budget while making this transition.  But, we haven’t totally eradicated what we used to do.  In fact, we
                                                                                                                                            Marketing Sin
     recently won an engagement directly from a print ad. 
                                                                                                                                            5 Ways to Stay Customer-
     I wholeheartedly endorse the digital marketing evolution.  I just would caution people about banking all their marketing dollars
     solely on the new wave, just as they shouldn’t ignore it and hope it goes away. The most effective marketing is integrated --          Focused and Strategically
     strategically and tactically -- and inclusive, involving every conceivable marketing tool and technique that makes sense for your      Relevant
     strategy and targets and your time and financial budgets.  And, for most firms that will mean increasing their digital marketing
     spend.

     But, if you don’t lay down a good basic track, all the special effects and mixes won’t rock the house.  It’s important to get the
     balance right. So, if you are a professional services firm looking at digital marketing, my advice  is:                               Posts by category
         Learn to swim before diving in                                                                                                     Alignment (5)

         Keep what works pre and post digitial                                                                                              Big M marketing (5)
         Analyze results                                                                                                                    Business Fear (1)
         Put together a plan
                                                                                                                                            Business Growth Strategy
         Work with an expert                                                                                                                (18)

     What Suggestions Do You Have? Please Comment Below:                                                                                    Business Leadership and
                                                                                                                                            Strategy (10)
      
                                                                                                                                            Business Plan (1)

                                                                                                                                            CEO Business Strategy (17)

                                                                                                                                            CEO choices (7)

                                                                                                                                            CEO Marketing Strategy (19)

                                                                                                                                            CEO Marketing Vision (12)
      Our guest blogger Mike Bowlan is principal, director of marketing at Brown Smith Wallace, an accounting, tax and business
     advisory firm in St. Louis.  Mike has over 30 years experience as an inside executive and a consultant to accounting, consulting       CEO Motivation (5)
     and law firms, from startups to the professions’ leaders.  He can be reached at 314.983.1207.                                          CEO Perspectives (10)

     Tags: Customer Intimacy, Market Position, Business Growth Strategy                                                                     CEO Roundtable (1)

                                                                                                                                            CEO Strategies (15)




http://www.chiefoutsiders.com/blog-0/bid/89856/Getting-the-Right-Balance-That-Modern-Digital-Marketing-Sound[8/31/2012 3:03:19 PM]

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Chief Outsiders - Getting the Right Balance: That Digital Marketing Sound

  • 1. Getting the Right Balance: That Modern Digital Marketing Sound Become an Outsider Home Who We Are Strategic Services Our Approach Clients & Cases News & Press CEO Blog Contact Growth Insights for CEOs Subscribe via E-mail Your email: Current Articles |  RSS Feed Getting the Right Balance: That Modern Digital Marketing Sound Subscribe Posted by The Chief Outsider on Thu, Aug 23, 2012 @ 05:28 PM like http://www.chiefoutsiders.com/blog-0/bid/89856/Getting-the-Right-Balance-That-Modern-Digital-Marketing-Sound AQD6DCk0 Like     Email Article   Tweet 11 3    1    Share Follow Chief Our guest blogger Mike Bowlan is principal, director of marketing at Brown Smith Wallace Outsiders When you think about how modern day CPA and other professional service firms are "going to market", it’s much like the takeover of music by digital recording.  Many think digital marketing is THE way, the new Mecca (Records).  There’s no question that you can put out a pound of productive marketing sound with digital marketing.  But, as many very talented musicians have cautioned, don’t forget the value of analog. Traditional marketing still has its place, particularly the often, overlooked basics. Digital Marketing Is Transforming Firms Marketing Latest Posts Firms have ramped up their inbound marketing, taken deep dives into social media marketing, optimized their websites to the hilt, and scrubbed their CRM systems to as squeakily clean a point as they can get.  Digital marketing has definitely gone to the top of Getting Naked With Patrick the charts. Lencioni All these tools help a professional services firm improve its marketing.  They provide ways to more fully leverage intellectual Jersey Cool - Tech Meetup in capital and professional networking.  The more digital marketing is leveraged, the better the chances are for success.  And, the Hoboken, NJ more accounting and other firms are pushed into these areas by the marketplace and their marketers, the more likely they are to thrive and survive.  Don't Get Too Fat and Happy Success In St. Louis Getting the Right Balance: That Modern Digital Certainly, I’ve been pushing my firm to get into digital marketing since I came to St. Louis five years ago.  When I arrived, we were Marketing Sound doing a lot of print ads, a lot of mundane administrative and party planning types of support for events and not a whole lot of digital. We didn’t have a strategic plan. Since then, we’ve cut way down on our ads, and have redirected those funds and efforts Once Burned,Twice Shy: to our much more cost effective online marketing, social media, SEO, video and CRM efforts. While doing so we’ve reduced the CEOs Aren't Quick To Trust budget from 4 to 3% of revenue but we’ve got much more muscle in it so that as our results increase and the economy improves, CMOs? we will be able to increase our spend supported by our improved ROI.    Overcoming Team Building We’ve made huge progress.  By the end of the month, we will have a site whose technology finally matches the robust content Resistance we’ve been stocking it with in recent years. We’ve entered the social media age with a bit of a bang through Kyle’s CPA Video Mid-Size CEOs: What Can A Blog, a humorous, atypical approach to accounting and tax news.  The latest edition tackles Health Care Reform and can be seen CMO Do For You? here.  Our CRM system has recently been truly revolutionized through some cool tools, like eGrabber, and we’ve finally assembled most of our clients and prospects emails into the system.  What To Do When Your Sales Are Up But Your I am pleased to say that it’s working. Last year, we were recognized as the second fastest growing firm nationally in our revenue Profits Aren't? category by INSIDE Public Accounting.  Through the first half of 2012, we’ve grown over 10%.  In the last two years, we have provided services to 40% of the top 50 private companies in St. Louis and 31 of the top 40 publicly traded companies.  Seven CEO Strategies: A/B Testing: years ago we didn’t serve any public companies or nearly as many large private companies.  What is it and Why is it Important? Humorous Videos Are Working How Do Successful CEOs Specifically, regarding Kyle’s videos, they’ve had over 4,500 views to date.  Our website traffic has increased more than 30% in a Make SEO Expenses Pay YOY comparison with the introduction of his vlogs. Our repeat visits increased over 70% in that same comparable period.  During Off? June, when we introduced the third episode, 14% of our website visitors came because of Kyle’s vlog and nearly 84% of these http://www.chiefoutsiders.com/blog-0/bid/89856/Getting-the-Right-Balance-That-Modern-Digital-Marketing-Sound[8/31/2012 3:03:19 PM]
  • 2. Getting the Right Balance: That Modern Digital Marketing Sound were new visitors. In addition to having been featured in CPA Trendlines on two occasions, we have also received home page coverage from CPA Practice Advisor, appeared in Accounting Today and Accounting Tomorrow and been featured twice in The Summa Blog of Professor David Albrecht, one of Accounting Today’s top 100 most influential people. Kyle’s vlog was also featured in the Hinge Marketing Agency’s blog post, “Top Ten Branding Ideas for Professional Services Firms,” and, is soon to be Most Popular Posts the subject of an article in the “Marketing Ideas for CPAs” blog, BBR Marketing. Growth Opportunity: The We have other digital marketing developments coming, including a serious video channel on key business issues. These will Demand Chain include overviews and more detailed descriptions on video of how we can help solve the issues so we can provide video information for prospects at different levels of the sales funnel. 3 Top Sources of Strategic Marketing Insights Can Firms Live On Digital Alone? Planning Season Kick-off: No, nor should they be covering their ears to all the clamor.  There is much more firms could do, including involving Marketing in "Hope Is Not A Strategy" - J. marketing to clients, integrating marketing and business development, whether BD be the partners and/or a BD team, and Rootes managing referrals with a system. Most importantly, you need to have a plan, a focus, targets, integrated marketing and business development efforts, a managed sales process, people who will network and follow up, and valid email addresses in your CRM Four Must-Have Strategists system.  Every CEO Needs  It continues to amaze me that people who are all about processes can’t see why they make sense for their marketing and The Five Frogs of Mid-Size business development efforts.  And, when you get down to it, it’s the basic blocking and tackling of marketing that makes for Company Marketing success.  So, yes, digital marketing is fantastic.  But, no, it isn’t, nor should it be, all there is. 7 Tactics for Customer Finding The Right Balance Closeness Certainly, the reach and ROI of digital marketing is compelling.  But before jumping face first into the marketing mosh pit, you Mobile Marketing Strategy or might ask: What is digital marketing replacing or eliminating in accounting marketing programs and budgets?  The answer should “How Did They Know I was be many programs, but mostly to a degree, not to extermination.  Or, you might ask, what’s not working that used to? Well, for the Hungry?” most part, a lot still does; again, it’s a matter of degree. CEOs: Getting Business We’ve moved our most costly marketing budget items from heavy print advertising to other areas.  The effort and financial "From Here to There" investments now go into online marketing, SEO, videos, CRM and other technologies.  We’ve increased our reach, our ROI and, The CEO and the 9th Deadly at the same time, cut our budget while making this transition.  But, we haven’t totally eradicated what we used to do.  In fact, we Marketing Sin recently won an engagement directly from a print ad.  5 Ways to Stay Customer- I wholeheartedly endorse the digital marketing evolution.  I just would caution people about banking all their marketing dollars solely on the new wave, just as they shouldn’t ignore it and hope it goes away. The most effective marketing is integrated -- Focused and Strategically strategically and tactically -- and inclusive, involving every conceivable marketing tool and technique that makes sense for your Relevant strategy and targets and your time and financial budgets.  And, for most firms that will mean increasing their digital marketing spend. But, if you don’t lay down a good basic track, all the special effects and mixes won’t rock the house.  It’s important to get the balance right. So, if you are a professional services firm looking at digital marketing, my advice  is:  Posts by category Learn to swim before diving in   Alignment (5) Keep what works pre and post digitial Big M marketing (5) Analyze results Business Fear (1) Put together a plan Business Growth Strategy Work with an expert (18) What Suggestions Do You Have? Please Comment Below:  Business Leadership and Strategy (10)   Business Plan (1) CEO Business Strategy (17) CEO choices (7) CEO Marketing Strategy (19) CEO Marketing Vision (12)  Our guest blogger Mike Bowlan is principal, director of marketing at Brown Smith Wallace, an accounting, tax and business advisory firm in St. Louis.  Mike has over 30 years experience as an inside executive and a consultant to accounting, consulting CEO Motivation (5) and law firms, from startups to the professions’ leaders.  He can be reached at 314.983.1207. CEO Perspectives (10) Tags: Customer Intimacy, Market Position, Business Growth Strategy CEO Roundtable (1) CEO Strategies (15) http://www.chiefoutsiders.com/blog-0/bid/89856/Getting-the-Right-Balance-That-Modern-Digital-Marketing-Sound[8/31/2012 3:03:19 PM]