Integrated Marketing Strategies for CPAs
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Transcript of Integrated Marketing Strategies for CPAs
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Pre-Conference: Workshop #102
Using Integrated Marketing Strategies for Exponential Results
Michelle Golden, CPF Eric Majchrzak
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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
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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
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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
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Image: lydiaboote (flickr)
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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
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LEADS
INVOLVEMENT
Levels of marke/ng.
Passive
Present
Engaged
goldenprac/ces.com 8
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WHAT ARE SOCIAL MEDIA?
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A con,nually changing set of tools and their users(!) that facilitate informa,on sharing and rela,onships. Online.
Image: ironrodart (flickr)
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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
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WHAT TO PLAN
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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
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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
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16 16 Image: dstomp (flickr)
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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
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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
goldenprac/ces.com 18
Marke/ng ac/ons.
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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
goldenprac/ces.com 19
Marke/ng ac/ons.
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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
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Build YOUR house
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Target Personas and their COIs
Specific Skills, Services & Expertise
Triggers/ Situational Needs
© 2010 Golden Prac/ces Inc 22
Who’s buying.
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Target Personas and their COIs
Specific Skills, Services & Expertise
Triggers/ Situational Needs
Consider both in messaging: Target Personas & COIs
© 2010 Golden Prac/ces Inc 23
Basic model for all messaging.
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HOW TO PLAN
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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
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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
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Framework grid.
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American Institute of CPAs
Case study: Tax credit locator
ERIC MAJCHRZAK
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American Institute of CPAs
Tactics Align with Sales Cycle
Screening (AWARENESS)
Evaluation (INTEREST)
Decision-making (DESIRE)
Procurement (ACTION)
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American Institute of CPAs
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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American Institute of CPAs
“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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American Institute of CPAs
CASE STUDY:
Tax credit locator
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American Institute of CPAs
Direct mail
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American Institute of CPAs
Print ads
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American Institute of CPAs
Tax credit commercial on Buffalo Bills Radio Network
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American Institute of CPAs
Engagement on Blogs
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American Institute of CPAs
Promote tax credits on LinkedIn
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American Institute of CPAs
Use status updates to inform network about tax credit locator
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American Institute of CPAs
Join groups to expand dialogue on LinkedIn
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American Institute of CPAs
Social Media Monitoring w/helpful answers
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American Institute of CPAs
Talking tax credits on Twitter
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American Institute of CPAs
Promote tax credits on Facebook
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American Institute of CPAs
Targeted tax credit advertising on social networking sites
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American Institute of CPAs
Social Media and search engine optimization
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American Institute of CPAs
50 state strategy with search engines
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American Institute of CPAs
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American Institute of CPAs
“Earned Media” Placements Re: Tax Credits
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American Institute of CPAs
Mobile Marketing: Tax Credits
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American Institute of CPAs
Newsletter: Tax Credits
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American Institute of CPAs
Digital billboards: Tax Credits
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American Institute of CPAs
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
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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)
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Which tool for what?
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Who is Cut Out for Blogging?
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© 2010 Golden Prac/ces Inc 32
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Great content.
Preven/on
© 2010 Golden Prac/ces Inc 33
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RESULTS & TRACKING
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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
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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)
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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
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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.
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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