There are some things in this world that are certain: The sky is blue, the grass is green (unless it’s summer in South Texas), and businesses want to make more money. In previous years, professional services, such as public accounting firms, could rely on referrals to maintain a stream of clients and profit. However, with an increasingly saturated market, a flood of digital and print media, and an increased expectation for client service, it is now more important than ever to make your business stand out amongst the rest. This demand requires an answer which can best be achieved through marketing.
As defined by The American Marketing Association, “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” In other words, marketing is any activity that promotes a company’s products or services. Marketers can achieve communication to the public through either digital media (social media, search engine optimization (SEO), paid ads, email marketing) or print media (brochures, magazine ads, direct mail, and business cards.) Both methods are incredibly valuable, target different audiences, and should coexist for maximum visibility and results.
What should a business and its marketers communicate? For retail companies, the answer is simple. When the new season of fall clothing arrives, marketers showcase the new items through social media posts and targeted ads and may announce a sale on all summer items via email marketing. However, for professional services, the answer is not quite as obvious. Instead, you are selling your services and an experience. To sell an experience, companies should pick an identity and match their marketing efforts to it. For example, if you want your business to be seen as premier, mailers should be made from high quality paper, social media posts should use clear, high-resolution photos, printed ads must only be placed in reputable and relevant magazines, and collaborations and partnerships should occur with other premium brands in the community. By aligning all marketing efforts with a high standard, you are showing the public the level of service they can expect to receive when they do business with your company. Additionally, the type of content that is published can showcase the persona of your company. For an accounting firm, having accurate and up-to-date blog posts featured on the website tells the audience that your employees are subject matter experts, which can encourage prospective clients to choose your firm. Or showcasing the firm’s community involvement on social media illustrates that the company is dedicated to its community and to upholding its core values. Marketing should show the audience who your business is, not tell it!
Marketing efforts will not only attract new clients but will also continue to build the relationships between you and existing clients. Although marketing will help your brand gain more business, that is not the only purpose. It is just as important to continue to showcase the brand and experience to existing clients in order to keep them engaged. Additionally, a happy client is one who will refer his friends and family back to you. The increase in reach your business will gain from marketing campaigns will allow your company to grow. With this growth comes more areas of opportunity and you may find that your company serves many different demographics or industries, thus segmentation may be required. Through segmentation, your marketing team can analyze and prioritize the needs and interests of each group which subsequently allows marketers to generate and promote the most relevant content for each audience.
Not only will marketing bring in new clients, but it is also an important recruiting tool. With search engine optimization (SEO), your open job positions will populate higher on the Google Search Results page meaning potential candidates are more likely to see and click on your link. Also, the high-quality social media posts that communicate ideas such as company culture and values will showcase to the candidates what it means to work at your company. If your business requires interns, taking premium and desirable swag to college career fairs will help attract talent to your booth and hopefully make your brand stand out amongst the competition. Marketing can also assist with retention efforts in a number of ways. New and exciting branded swag items, featuring staff on social medium platforms, and hosting or attending networking events helps to keep employees actively engaged.
Marketing efforts are the vessels in which a business can communicate its worth, manage its reputation, and build relationships with new and existing clients. Although the content may look a little different, professional services need marketing just as much as other industries like retail. By promoting the client experience, highlighting company culture, and setting the expectation before a new client ever walks through your office doors, you will make your business desirable. Not only will marketing attract new clients and talent, but it will also help your business understand where to search for growth opportunities. The data and insight that can be gained from marketing efforts is crucial for making educated business decisions and will ultimately help your business grow!