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Integrated Sales And Marketing
- 1. Integrated Marketing and Business
Development
in the professional services firm
Highlights of The Bloom Group’s Study
September 2008
Boston, MA
© 2008 The Bloom Group LLC
- 2. 2007 Bloom Group Survey
Integrating Marketing and Business Development In Professional Services Firms
• 18 questions answered by 224 respondents
2
© 2008 The Bloom Group LLC
- 3. Lack of orchestration is common
• Only a slight majority (54 percent) said
marketing and business development
activities were strongly coordinated.
Some 46 percent said they were
coordinated sometimes, infrequently
or not at all.
• The majority (57 percent) were not
working off the same timeline of
demand‐creation activities most or all
of the time.
• In about one‐third (32 percent), no one
was managing the overall demand‐
creation process.
3
© 2008 The Bloom Group LLC
- 4. What is the price?
• Less than one‐third (29 percent) of the
professional firms reported a high or
very high rate of success in creating
market awareness of their services
• Only 31 percent said they were highly
or very highly successful at getting
meetings with prospects
• An even lower percentage—25
percent— said they had high or very
high success in getting a request for a
proposal following a sales meeting
4
© 2008 The Bloom Group LLC
- 5. Contrasting leaders and laggards
Characteristic Leaders Laggards
Sales and marketing functions are coordinated/ integrated 77% 40%
Work off the same timeline of activities 62% 38%
Work off the same issue‐based campaign 77% 53%
Work off the same client/prospect database 75% 56%
5
© 2008 The Bloom Group LLC
- 6. The key determinant of success
• Success is not a function of
– Who does the selling
– Who reports to whom
– Whether there are full‐time business development professionals
– Whether marketing reports to business development or vice
versa
Most professional firms are not playing the same game on
the same team, using the same game plan, or keeping the
same scorecard
6
© 2008 The Bloom Group LLC
- 7. What it feels like to be a buyer
1. I'm feeling insecure. I'm not sure I know how to 7. I'm feeling ignorant, and don't like the feeling. I
detect which of the finalists is the genius, and don't know if I've got a simple problem or a
which is just good. I've exhausted my abilities to complex one. I'm not sure I can trust them to be
make technical distinction. honest about that: it's in their interest to
2. I'm feeling threatened. This is my area of convince me it's complex.
responsibility, and even though intellectually I 8. I'm skeptical. I've been burned before by these
know I need outside expertise, emotionally it's kinds of people. You get a lot of promises: How do
not comfortable to put my affairs in the hands of I know whose promise I should buy?
others. 9. I'm concerned that they either can't or won't take
3. I'm taking a personal risk. By putting my affairs in the time to understand what makes my situation
the hands of someone else, I risk losing control. special. They'll try to sell me what they've got
4. I'm impatient. I didn't call in someone at the first rather than what I need.
sign of symptoms (or opportunity). I've been 10.I'm suspicious. Will they be those typical
thinking about this for a while. professionals who are hard to get hold of, who
5. I'm worried. By the very fact of suggesting are patronizing, who leave you out of the loop,
improvements or changes, these people are going who befuddle you with jargon, who don't explain
to be implying that I haven't been doing it right what they're doing or why, who . . . , who . . . ,
up till now. Are these people going to be on my who ... ? In short, will these people deal with me
side? in the way I want to be dealt with?
6. I'm exposed. Whoever I hire, I'm going to have to
reveal some proprietary secrets, not all of which © David H. Maister 1993
are flattering. I will have to undress.
7
© 2008 The Bloom Group LLC
- 8. How clients increase their confidence in the supplier
100%
90%
Select
• Meet with short‐
80%
Qualify listed candidates
Trust and Confidence
Contract
• Scour the market for • Investigate detailed
70% • Agree detailed
potential suppliers capabilities, working
approach and
• Evaluate against style, rates etc.
60%
resources
essential criteria • Determine preferred
• Agree contract terms
• Reduce to short‐list supplier
50%
and price
40% Make sure we have Make sure that we
Make sure that the
several candidates have a candidate who:
approach is one that
30%
who could technically • has a successful
suits us
do the work track record,
20%
• and with whom we
can work
10%
0%
8
© 2008 The Bloom Group LLC
- 9. The marketing & sales campaign should mirror the buying process
Select Contract
Qualify • Meet with short‐ • Agree detailed
• Scour the market for listed candidates approach and
potential suppliers • Investigate detailed resources
• Evaluate against
Buyer Process capabilities, working • Agree contract terms
essential criteria style, rates etc. and price
• Reduce to short‐list • Determine preferred
supplier
Create relationship Create client
Create Awareness
• Design and run • Craft tailored
• Formulate messages
participative approach
• Run broadcast
Seller Process marketing programs • Secure resources
marketing programs
• Respond to enquiries • Agree contract terms
• Capture details of
• Discuss potential and price
suspects
work with prospects
9
© 2008 The Bloom Group LLC
- 12. Thought leadership is the fuel for a campaign
Select
Contract
• Meet with short‐
Qualify • Agree detailed
listed candidates
• Scour the market for approach and
• Investigate detailed
potential suppliers resources
capabilities, working
Thought • Evaluate against • Agree contract
style, rates etc.
essential criteria
Leadership terms and price
• Talk with references
• Reduce to short‐list
• Determine preferred
• Points of supplier
view
Create relationship
Create client
Create Awareness
• Client • Design and run
• Craft tailored
• Formulate messages participative
Case approach
• Run broadcast marketing programs
• Secure resources
Examples marketing programs • Respond to
• Agree contract
• Capture details of enquiries
terms and price
suspects • Discuss potential
work with prospects
12
© 2008 The Bloom Group LLC
- 14. Marketing and Bus Dev have complimentary roles
• Create high contact • Provide boiler‐plate
• Formulate messages
marketing sales presentations
• Create awareness
events/seminars • Assist with proposal
• PR
• Get prospects to firm‐ development
• Articles
hosted events
• White papers
• Email
• Website etc
• Print marketing etc.
• Capture prospect details
• Run the events
Create Relationship
Create Awareness Create Client
• Ensure alignment with
• Propose and encourage
campaign messages
invitees to attend
• Craft tailored approach
• Gather background on
• Secure resources
attendees ‐ prioritize
• Agree contract terms
• Participate in events
• Respond to inquiries
and price
• Engage prospects
that marketing
• Arrange follow‐on meetings
generates
14
© 2008 The Bloom Group LLC
- 15. Together they close the contract
Marketing Process
100% • Create high contact • Provide boiler‐plate
• Formulate messages
marketing sales presentations
• Create awareness
90%
events/seminars • Assist with proposal
• PR
• Get prospects to firm‐ development
• Articles
80%
hosted events
Trust and Confidence
• White papers
• Email
• Website etc
70%
• Print marketing etc.
• Capture prospect details
Thought • Run the events
60%
Leadership
Create Relationship
Create Awareness Create Client
50%
Case
40%
Examples • Ensure alignment with
• Propose and encourage
campaign messages
30%
invitees to attend
• Craft tailored approach
• Gather background on
20% • Secure resources
attendees ‐ prioritize
• Agree contract terms
• Participate in events
• Respond to inquiries
10%
and price
• Engage prospects
that marketing
• Arrange follow‐on meetings
generates
0%
Sales Process
15
© 2008 The Bloom Group LLC
- 16. What thought leadership is:
A novel and substantive point of view (POV) on a ubiquitous client problem
– A compelling perspective on the root causes of an issue and the best way to solve it
The ability to package that POV and create “buzz” in the marketplace
– Capture expertise that is practiced by your professionals but previously not codified for
mass consumption
A way to demonstrate you have superior expertise, not just claim that you have it
– The professional services industry’s equivalent of a grocery store sample
“A perspective is worth 80 IQ points”
Alan Kay, former Xerox PARC and Apple scientist and father of many aspects of the personal computer
16
© 2008 The Bloom Group LLC
- 17. Example
Business
• One service line of a global professional IT and consulting services organization
Topic
• Thought leadership campaign on customer relationship management (CRM)
• Based on a self‐ assessment tool and a Point of View created from an executive
survey
Marketing Campaign
• Consisted of
– Direct mailing of the Point of View
– Media relations on the survey results
– Management roundtable on the topic co‐sponsored by a business publication
– Co‐marketing of the Point of View with vendor partners
• Cost of campaign; $120,000
Results
• The first win, a $600,000 consulting engagement, in just six weeks.
• Six months after launch, the campaign had generated $35 million in sales
© 2008 The Bloom Group LLC
- 18. The Bloom Group
The Bloom Group powers up marketing for professional services
firms. We specialize in helping professional services firms determine
their marketing strategy, attain thought leadership and grow their
business through effective thought leadership marketing and
campaign execution.
Contact us at:
Tel: 978.335.4313
email: tparker@bloomgroup.com
© 2008 The Bloom Group LLC