integrated marketing strategies for cpas

Pre-Conference: Workshop #102

Using Integrated Marketing Strategies for Exponential Results

Michelle Golden, CPF Eric Majchrzak

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  

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  

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  

Image:  lydiaboote  (flickr)  

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  

LEADS  

INVOLVEMENT  

Levels  of  marke/ng.  

Passive  

Present  

Engaged    

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WHAT  ARE            SOCIAL  MEDIA?  

A  con,nually  changing  set  of  tools    and  their  users(!)  that  facilitate  informa,on  sharing  and  rela,onships.  Online.  

Image:  ironrodart  (flickr)  

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  

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WHAT  TO  PLAN  

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

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  

16  16 Image:  dstomp  (flickr)  

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  

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  

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Marke/ng  ac/ons.  

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  

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Marke/ng  ac/ons.  

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  

Build  YOUR  house  

Target Personas and their COIs

Specific Skills, Services & Expertise

Triggers/ Situational Needs

©  2010  Golden  Prac/ces  Inc   22  

Who’s buying.

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.

HOW  TO  PLAN  

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  

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  

Framework  grid.  

American Institute of CPAs

Case study: Tax credit locator

ERIC MAJCHRZAK

American Institute of CPAs

Tactics Align with Sales Cycle

Screening (AWARENESS)

Evaluation (INTEREST)

Decision-making (DESIRE)

Procurement (ACTION)

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!

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

American Institute of CPAs

CASE STUDY:

Tax credit locator

American Institute of CPAs

Direct mail

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Print ads

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Tax credit commercial on Buffalo Bills Radio Network

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Engagement on Blogs

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Promote tax credits on LinkedIn

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Use status updates to inform network about tax credit locator

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Join groups to expand dialogue on LinkedIn

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Social Media Monitoring w/helpful answers

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Talking tax credits on Twitter

American Institute of CPAs

Promote tax credits on Facebook

American Institute of CPAs

Targeted tax credit advertising on social networking sites

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Social Media and search engine optimization

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50 state strategy with search engines

American Institute of CPAs

American Institute of CPAs

“Earned Media” Placements Re: Tax Credits

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Mobile Marketing: Tax Credits

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Newsletter: Tax Credits

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Digital billboards: Tax Credits

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

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)  

Which  tool  for  what?  

Who  is  Cut  Out    for  Blogging?  

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©  2010  Golden  Prac/ces  Inc   32  

Great  content.  

Preven/on  

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RESULTS  &  TRACKING  

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  

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)  

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 eric.majchrzak@freedmaxick.com

Linked In: linkedin.com/in/ericmajchrzak

Twitter: @FreedMaxickCPAs

Michelle Golden michelle@goldenpractices.com

Linked In: linkedin.com/in/michellegolden

Twitter: @michellegolden

Web: goldenpracticesinc.com

Blog: goldenpractices.com

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.

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