Professional service firms tend to do a poor job of tracking leads. At best, they ask prospects a single question about how they heard about the firm, but that’s where it ends. They don’t go deeper. Many also don’t keep the information in a database or regularly review the data they collect for insights.

Understanding what goes into getting new business can be complicated, but it’s crucial.

What made a prospect trust you enough to call?

In professional services, hiring decisions are built on trust. Prospects are rarely comfortable calling someone they’ve truly never encountered before.

More often, the path looks something like this:

– A prospect got your name from one of your contacts, saw your content (your article, presentation, LinkedIn post, etc.) or met you at an event.

– Later, they visited your website, looked you up on LinkedIn and Googled you. Maybe they signed up for your emails, followed you on LinkedIn or reached out to some of your LinkedIn contacts who they also knew. This could have happened immediately or months later because they weren’t quite ready to talk.

– They may also have compared what they found out about you with other professionals who were also referred to them, or they came across when searching online.

When asked how they found out about you, they answered Google because it was the final step and the one that confirmed your credibility. But a Google search didn’t create the trust. It simply validated it.

Why did your contact introduce or refer you?

Another common scenario involves referrals and networking. Many firms will say, “We get all our business from referrals.” At a high level, that’s often true.

But referral sources are reluctant to refer someone they don’t know, like and trust. When you look more closely, those referrals are usually supported by other efforts, such as:

– Email newsletters that keep your name top of mind

– A professional, up-to-date website that establishes credibility

– Social media posts that demonstrate how you think

– Articles, presentations, or media mentions that reinforce your expertise

Networking may spark the relationship, but it’s rarely the only thing sustaining it.

Referrals still need reinforcement, especially in competitive markets where your contacts know multiple firms that do what you do.

Why should you track the path to hiring?

Prospects and referral sources are cautious. They look for signs that they can trust you before making a decision. As a result, firms must consistently demonstrate their expertise and stay top of mind using multiple channels. Because of this, it can be almost impossible to attribute new business to one specific activity. Yet, many firms do just that. They pick one source.

The problem is that if you assume your business comes mostly from Google or networking, you may:

– Underinvest in content that builds trust

– Let your website or LinkedIn presence stagnate

– Rely too heavily on a single channel, missing other ones that influence hiring decisions

– Lose out to your competitors who invested in marketing

A single tactic isn’t likely to bring success anymore. Professional services marketing works best as an integrated whole, where each channel supports and amplifies the others.

How can you improve lead tracking?

Instead of stopping at “How did you hear about us?”, go deeper. Ask prospects:

– Who first mentioned our firm to you and when?

– Were you referred to us for your current matter, and if so, by whom?

– If you first found us through an online search, what terms were you searching?

– What made you feel comfortable reaching out now?

– Did you review our website or social media, or Google us before contacting us?

– Have you read any of our content, heard us speak or received our emails?

You don’t need every answer every time, and depending on the responses, you may want to ask other follow-up questions. The point is to uncover what influenced the prospect, not just the first or last touchpoint.

You can also check whether you’re already connected to the person on LinkedIn and if they are in your email database. If you have a CRM or other database, you should track all interactions with prospects and referral sources, even if you haven’t gotten business yet.

Pay attention to patterns. Where are people learning about you? What information have they gathered about you and from which sources? The most important question isn’t where a lead technically came from; it’s what created enough trust for them to reach out.

When you understand that, you stop solely crediting Google or networking and start investing in the channels that quietly affect decisions long before the first call.

Need  help with your marketing, contact us for a free consultation.

1. You’re not active. Social media is just like networking. You don’t show up occasionally at an event or sit in the corner and expect that you’ll get business from it. You must be visible consistently. Share content regularly – your own and other people’s content. The more you post, the more opportunities to get noticed.

2. The content isn’t interesting to your audience. Who do you want to target with your social media? What do they care about? Your posts should provide helpful or appealing information to them. Focus on what they would consider worthwhile.

3. It’s all one sided. It’s not enough to post something and forget about it. You should look to engage with your audience. For example, tag or mention individuals or organizations in your posts when relevant. Like, share or comment on other people’s content. When you do things to draw positive attention to others, they are more likely to notice you and reciprocate. Also remember if someone makes a substantive comment on your posts, respond to it. You can even ask people to comment on your posts or pose a question for others to answer.

4. There is no visual component. People have short attention spans and studies show that individuals are substantially more likely to respond to visual information than text. So, make sure every post has an image with it – photo, graphic, video, etc.

5. Your timing is bad. There are better and worse times to post content. You can research the optimal times, but remember these are general guidelines. Your individual results may vary so keep track to determine if you have big discrepancies in results. You can use a social media scheduling tool like Hootsuite to schedule your posts in advance.

6. You chose the wrong social media platform. You have to be where your audience is likely to be looking for information and you have to share the right kind of material. For example, LinkedIn is a professional network. Don’t post anything there that you wouldn’t say to your employer or clients.

7. You’re not monitoring your results. Every social media platform lets you see how many people view and engage with your posts. Analyze this regularly for insights into what kind of posts do better than others. You can also test different marketing tactics and gauge the impact. For example, try different headlines, times of day, images, etc. Use your results to make better decisions going forward.

8. You don’t have a plan. None of your marketing should be random. Develop a clear strategy to reach your target audience, reinforce your brand and achieve your objectives. Then set aside appropriate resources (people/time/money/expertise) so it gets done. Otherwise, you will be spending a lot of time to get results which may not mirror your actual goals.

These are just a few examples of issues that may be hurting your online presence. An experienced marketer can give you additional guidance if you are having trouble with your social media marketing efforts.

For more tips on using social media, see Do’s and Don’ts of Using Social Media to Grow Your Business and Social Media Tips For Professional Service Firms.

If you need help with your marketing, contact us for a consultation.

1. Ask how you can help. How can you really assist someone if you don’t know what they need? Do they want to meet certain types of people or get an introduction to a specific person? Maybe they would like to spread the word about an event, find opportunities to speak to business groups or get an internship for their child.

2. Be a connector. When you talk with people ask them what types of individuals they would like to meet (profession, job title, industry, etc.). Then make a real effort to think about whether you could make an introduction that would benefit both parties. This isn’t about sending them business. It’s about connecting individuals who may have similar or complementary interests.

3. Give referrals. We wait around for others to refer us business but when was the last time we referred business to the other person? It doesn’t have to be quid pro quo but both sides should be making the effort.

4. Provide helpful information. The essence of “content marketing” is that when you provide people with useful content, they are more likely to remember you when they have a problem, see you as credible and knowledgeable, and trust you because you offered free information. Give genuinely helpful tips in a blog, newsletter, article or eBook. Speak at seminars (your own and for other organizations). Answer simple questions from contacts. Don’t be afraid of giving away too much information; that’s rarely the case.

5. Share information from or about your contacts. Content marketing isn’t just about giving people useful information written or spoken by you. In fact, sharing other people’s content is a great way to demonstrate that you do want to be helpful even when you aren’t touting your own abilities. You can post content to social media written by people you know or strangers. Of course, when it relates to people you know, they will be particularly grateful. When you share, like or comment on other people’s content on social media, your network will see it, so it gives the individual extra exposure which will be appreciated (and often reciprocated).

6. Volunteer. If there is a cause that is meaningful to you, get involved. It’s an opportunity to help others in need and you will also meet like-minded people. Some of the best relationships are built when you work together with others who share your commitment to something. People also prefer to do business with those they like and trust and volunteering together helps on both counts.

It’s the season of giving so give back to your contacts. The rewards will be worth it.

Here are a few more takeaways from the event:

Karen Tenenbaum, Esq., CPA, LL.M – Consistently look for ways to build your credibility and stay top of mind, such as through writing, speaking and public relations. Also, be organized about your marketing. Know who your target audience is and create a “bingo chart” that lays out what you will be doing to market your practice every month to reach those audiences.

Ken Cerini, CPA, CFP, DABFA – Become an expert in a specific niche area of accounting. There are less accountants specializing in auto dealerships or food services than there are accountants providing tax services. You have a higher likelihood of succeeding against 10 competitors than 1,000. Create specialized materials, write articles, start a blog, attend trade association meetings and engage in other activities that will get you in front of your target audience.

Sharyn O’Mara – If you want to get publicity, then get to know a couple of reporters in your local area or who focus on your area of expertise. You want to build the relationship beforehand, so the reporter thinks of you when they need an expert for a quote or will respond to you when you make a pitch. Whether it’s in the PR or another context, try to be a connector. It’s not about getting business; it’s about creating strong relationships with people.

Allison W. Rosenzweig, Esq. – When you are marketing yourself, be genuine. Don’t always be “selling.” Instead you should focus on building a strong reputation. How you are perceived by others is crucial. Also look for ways to stay visible whether in person, online or in the press.

Matthew E. Rappaport, Esq., LL.M. – Figure out what sets you apart from your competitors and make sure you can clearly articulate the differentiating factors in a few sentences. Also, don’t hesitate to give away some value in the form of knowledge or expertise for free to establish relationships.

Edie Reinhardt – Don’t engage in random acts of marketing. Have a written marketing plan where you think through who you want to target, how you will reach them and what you want to accomplish. You can keep it simple especially if you haven’t done a lot of marketing in the past. Start with a small targeted plan and then as you build on your successes you can expand your efforts. Also, don’t be afraid to test different tactics. A lot of marketing is trial and error.

Thanks to my fellow panelists and the conference organizers.

Surprisingly many businesses still don’t invest in digital marketing. At a minimum, a good website is necessary for businesses to be perceived as credible. However, a website alone isn’t enough; you need to promote it effectively. The panelists and audience shared their insights on how businesses can make the most of their efforts.

Here are some of the key points and best practices that came out of the discussion:

1. Have a plan. You shouldn’t just create/update a site, engage in social media or do any kind of digital marketing without developing a plan. Understand who you want to reach and what information they want to have. Identify your short, medium and long-term goals. Are you focusing on getting new traffic from people searching? Are you looking to bring in or nurture leads? Do you want to build followers? There are different tactics that will help with each of these and varying benchmarks to measure progress. You want to think through these issues and then prepare a written plan.

2. Establish social media profiles and be active. Not every platform will make sense for your business. Pick the one(s) where your audience is active and looking for relevant information. Social media is a great way to drive traffic to your website, build your visibility, attract new business and stay top of mind. But like all marketing, you have to do it consistently to be successful. Posting once in a while won’t get you very far. It’s like joining a networking group and then rarely showing up and when you do, you barely talk to people. That’s not going to get you business.

3. Optimize your website for search engines. Good basic SEO is essential for every website to improve organic rankings. For some businesses, it may make sense to consider using pay-per-click advertising as well. In any event, the most important thing to remember is content is king so follow the next tip.

4. Have great content. Relevant educational information targeted to your audience will help build/reinforce your credibility, engage your readers, and improve your SEO. Google looks for relevant quality content that is updated frequently in determining your search ranking. So the first thing you should be doing is blogging regularly. However, you should also consider creating other content (whitepapers, eBooks, video, podcasts, webinars, etc.)

5. B2B and B2C are different. B2B companies tend to have a long sales cycle so it’s important to consider how to nurture your leads. Although you want to grab attention, you also need to keep contacts engaged and stay top of mind with them without blatantly pitching your services.

6. Get professional help. A professional can guide you in your digital marketing so that it meets your needs and helps achieve your goals. If you have internal resources, determine what they can handle based on their expertise and time. If you need to fill gaps, it can be more cost effective to bring in an outsider. Ultimately, the goal is for everyone to be handling tasks that are the highest and best use of their time. Delegate the rest.

Thanks to ODNLI and my fellow panelists – Ritima Sood, Artiems Software Solutions and Tai Vicari, Networking Marketing Specialists – and moderator, Jerry Siegel, JASB Management Inc.

If you need help with your digital marketing, contact us for a consultation.

1. Document your content marketing strategy. The CMI study emphasized that “B2B marketers who have a documented content marketing strategy get better results from their content marketing tactics, social media platforms, and paid methods of content distribution compared to those without a written strategy.” A documented strategy keeps you focused on what you want to achieve and helps you design a plan for how to get there.

2. Create buyer personas. One of the keys to successful content marketing is understanding your target audience or buyer. Develop a profile (buyer persona) of that ideal buyer, client, or referral source, including their key demographics and behaviors. The more you know about your buyer’s needs, the better you can tailor the substance of your message as well as how you promote it to them.

3. Choose a well-defined niche. We’re all suffering from information overload and there is so much content available that it’s overwhelming to look at it all. One of the ways to stand out is to promote a narrow expertise.

You may find yourself with fewer leads, but better quality ones because you better match what the prospect is looking for and there are fewer obvious competitors.

4. Develop an editorial calendar. An editorial calendar helps you create and manage your content workflow. Use it to plan out content topics or themes in advance, establish deadlines and assign responsibilities for each step in the process. Think about the format for your content, your message and audience, where and how will it be marketed and distributed and what resources are needed.

5. Reuse content. Coming up with new content on a regular basis is challenging so look for ways to repurpose your existing content. For example, create longer and shorter versions of everything you do as well as think of different formats such as writing, audio, video, and presentations. Content curation is another method of reusing content, but you are selecting and sharing useful information created by others. Ideally add some of your own thoughts and commentary when sharing other people’s content.

6. Track results using appropriate metrics. The end game for any marketing is to bring in revenue, but there are other goals to keep in mind, such as; lead generation, lead nurturing, brand awareness, customer retention, and engagement.

Determining the appropriate metrics depends on your specific goals. However, some of the more common ones include: website/blog traffic and engagement metrics (unique and repeat visitors, page views, time spent on site, etc.); social media interest (followers, connections, sharing, etc.); quality and quantity of leads generated; and other ones.

Once you have established your metrics, start testing your tactics and revise and hone your strategies accordingly.

7. Start small and scale up. You don’t have to do everything at once. Instead start with a pilot project that you can scale up over time. You can focus on 1 or 2 priorities or tactics. Or look at how your existing content marketing can be improved keeping in mind some of the best practices mentioned in this article. Consider what you are already doing as well as how adding resources could improve your results.

Once you start to see successes, you can build on them.

Content marketing is a great investment when done right. Hopefully these  best practices will help make your initiatives more successful.

Need help with your marketing? Contact us for a free consultation.

Without a plan, you run the risk of spending time and money on an assortment of different tactics without a clearly defined purpose. Maybe some of those efforts will work. But what about the things that don’t work, or more likely, you’re not really sure what is working or could be working better. When you act without a marketing plan, you’re more likely to engage in random acts of marketing, which wastes precious resources.

An effective marketing plan needs all of these

1. Define your strategy(ies) first. Successful marketing requires that you have a strategy and a plan. The strategy defines your goals – what do you want to achieve and why. The plan is about how you’re going to do it – what steps do you need to take to implement your strategy.

2. Put it in writing. According to the 2016 B2B Content Marketing Benchmarks, Budgets, and Trends—North America study of 3700 companies, “B2B marketers who have a documented content marketing strategy get better results from their content marketing tactics, social media platforms, and paid methods of content distribution compared to those without a written strategy.” The study focused on content marketing, but its good business practice to put your plans in writing.

3. Allocate appropriate resources. Once you know what you want to accomplish and what you need to do to get there, you have to put aside enough time, money and bodies. The Ascend 2016 State of Digital Marketing Survey found that the most significant barrier to success in digital marketing was an inadequate marketing budget. Lack of internal skills/training was number 2 on the list. Think about who can handle what tasks, both in terms of time and ability. Outsource if necessary. If you don’t have the funds or the staff to do everything you want to do, then start with a small, simple project. Be realistic about your needs and resources otherwise your plan will go nowhere fast.

4. Measure results. The metrics you choose will vary depending on your goals. Think in terms of short-, mid- and long-term goals. The ultimate goal for firms is usually to grow revenue, but that takes a long time. You want some interim measurements in order to gauge your progress. For example, new business starts with new leads, which may start with increasing visibility. If you’re looking at website metrics, do you want to measure growth in new visitors to your website or look at repeat visits or how much time someone spent on the site? Make sure your metrics are appropriate and you use them properly. Marketing is a process of testing, measuring and revising.

5. Revisit your plan regularly. It’s a good practice to look at your plan annually or more often if your business has changed in some way. Consider your financial and competitive situation as well as your results to date.

Invest in creating a solid marketing plan for your business. It will be worth it.

For help in creating your marketing plan, contact us for a consultation.

Here are my top dos and don’ts:

1. Do go where you audience is. A common question from the audience was which type of social media is the best. Well the simplest answer is to find where you audience is. If you’re targeting certain types of companies, determine where the company and its key individuals have a social media presence. Are they on LinkedIn? Twitter? Google+? Also look at how they are using each channel. Where are they the most actively engaged? Are they talking to their customers, peers, vendors or others? Yes, you can get into a more detailed analysis about which social media channel is the best, but it basically boils down to knowing your audience – where are they active and where do they look for the kind of information that you could provide to them.

2. Don’t think of social media as either a scourge or miracle cure for your business. Social media is a channel for marketing, business development and building/reinforcing relationships. It doesn’t mean you stop doing all the other things you’ve done previously; nor does it mean that you don’t try it because you’ve done okay in the past with your other tactics and don’t need to change. There was a time long, long ago when few used email marketing or had a website. Now you have both, but you are probably still incorporating networking, advertising, telemarketing and sales, direct mail, etc. Email and websites didn’t replace everything else, but you did change your marketing mix. Hopefully you’re always continuing to test and evaluate what works best for your business. And you should keep doing that as you incorporate social media into your mix.

3. Do dedicate resources to social media marketing. A lot of comments at the event centered on finding the time to deal with social media. Well, it’s like everything else you do to market your business. You have to set aside resources for it. With some types of marketing, the investment is more in terms of money (ex. advertising). Other times, it is more about time. Either way you have to make a commitment to promoting your business. With that said, look at some of the other dos and don’ts in order to help maximize your resources.

4. Don’t use it as a channel to talk about yourself. Yes, you can use it to distribute press releases or talk about your activities, new hires, etc. but just don’t do that most of the time. People want useful educational information; they are less interested in hearing about how great you are.

5. Do leverage your employees. Employees are a great resource for helping you develop the right kind of content to engage your audience. They are the ones fielding questions from clients. They probably have a lot of insights about what clients want to know about and how to craft your message. Employees can also help expand your reach by distributing your content through their own networks.

6. Don’t forget to consider legal liability. Have a social media policy covering what your employees can and can’t do. Understand rules governing advertising, copyright, trademark, trade secrets, publicity, and other problematic areas. If you’re in a regulated industry, special rules apply. You should also monitor what is being said about you for legal purposes as well as for your own reputation management.

7. Do have a plan and goals. Like all marketing (and business), social media works best when you think through who you want to target, how you’re going to reach them and set goals so you can measure how you’re doing. Otherwise you are likely to waste valuable resources.

8. Don’t try to do it all at once. Great, you believe in the value of social media and want to dive in. Even still you should start simple. Build a presence and an audience on one or two channels. Begin sharing content on a regular basis, but don’t be overly ambitious. Come up with a conservative schedule and once you’re reliably following it, then you can increase the frequency. It’s better to scale up slowly, than start with a bang and die with a whimper because you couldn’t maintain that level of activity.

Thanks to ODNLI, Paul Rubell (@www.rdtcontentmarketing.comPaulRubell) at Meltzer Lippe, Jerry Siegel at JASB Management, and a very engaged audience at the event.

For more marketing tips, sign up for our newsletter.

1. Play to win. “Playing to win” means being focused and acting intentionally. In other words, don’t just react to changes; be strategic and have a real plan. Think about where you want to be and how you can get there. What kind of organization or team do you need? What are your obstacles? Where should you invest? Create appropriate goals and benchmarks so you know what you need to accomplish today to move you along the right path. And put it all in writing. Documenting your vision, strategies and goals will help you get focused and stay on track. It also lets everyone within the company know where you’re all going so they can feel engaged. This applies to general business planning as well marketing planning. Certainly marketing without a strategic plan is one of the biggest reasons why marketing fails.

2. Be different. Does your pitch/mission statement sound just like your competitors? Everyone says they offer quality service, care about their clients, and have tons of experience. So how are you really different? When you don’t differentiate, then you’re vulnerable to competing on price and turning your services into a commodity. Take the time to identify your unique value proposition and understand your target audiences and their pain points. The goal is to develop an authentic marketing message that resonates with your clients and prospects. You want to find your sweet spot – the place where you can speak with credibility and authority on topics that truly matter to your audience and your business. So know what makes you special and communicate clearly how that brings value to your clients so you don’t end up cutting your prices to get the business.

3. Pay attention to your work culture. According to a recent study by the National Center for the Middle Market, a well-established employer brand and compelling employee value proposition (EVP) help companies secure talent against their larger competitors and drive significantly higher revenue. (A company’s employer brand is the image and reputation it has as a place to work. Its EVP represents the tangible and intangible benefits people receive in return for working at the company.) In fact, in a study by the CFO Alliance, 95% of CFOs agreed work culture has an effect on the company’s bottom line. What does this mean for businesses? Your work culture is part of your brand. You need to identify, nurture and market it if you want to attract and retain the right talent to grow revenue.

And once you’ve got these great employees, keep them involved and motivated to help promote your brand inside and outside the organization. How can you do that? One way is to ask employees to share their experience and insights in the form of training materials, blog posts, newsletter articles, video or other content. If it’s challenging for them to create the content, give them appropriate resources. At a minimum, encourage them to share news and information that the company is putting out. And remember to publicly acknowledge their efforts. You want to engage your employees and show them they are valued, not dump work on them that they don’t want.

4. Invest the time in doing things right. The number one reason businesses give for not taking the business advice mentioned above is that they don’t have time. However, as succinctly put by Kelly Riggs in one of the events I attended, “leadership is about knowing how to invest your time.” Successful companies take the time to look critically at their business and figure out where they want to get to and how. They make long-term investments and appreciate that ROI is measured in more than just dollars.

Thanks to the speakers from “Aligning Your Employees with the Company’s Business Objectives,” at The CFO Alliance Quarterly Roundtable Series and “Winning Business in Any Economy: 4 mistakes you can’t afford to make,” at HIA-LI’s 27th Annual Business Trade Show & Conference.

So for your mid-year marketing check, ask yourself these questions:

1. How well are you targeting your audience?

Did you take the time at the beginning of the year to prioritize the markets you wanted to go after? When you really think about it, you probably have at least a few audiences you can target for your services (different industries, referral sources, etc.). It’s unlikely you have an unlimited marketing budget so that means you have to pick and choose where to spend your resources. Do some research to determine who should be your top targets for the year. And then do more research to learn about their needs and interests, how to find them, where they get their information and how they make decisions. You want to deliver the right message to the right audience at the right time.

2. Do you have specific goals and are you tracking results?

You should have very particular (and prioritized) objectives in mind that you want your marketing to help you obtain. This helps you to understand where to focus your marketing efforts and create benchmarks so you can monitor your progress. It might still be too soon to see the impact of your marketing in terms of actual new business signed this year. However, you may be seeing other indications that your message is effectively getting out to your audience. Are you seeing more web traffic, building your contact database, getting more calls, etc.? There are lots of ways to gauge progress. The first step though is setting short, mid, and long-term goals that are sufficiently specific for you to establish some way to measure improvement. Then remember that no matter how well you are doing, you should continue to track, test and revise your tactics.

3. Do you have a strategic marketing plan?

A marketing plan lets you think about your priorities and where and how you should focus your resources for the most impact. Without a plan, you run the risk of spending time and money on an assortment of different tactics without a clearly defined purpose. It also helps keep you honest and accountable. It’s too easy to start something and then let it drop. Putting it in writing reminds you that you thought it was worth investing in. You documented who you wanted to go after and why and how you would go about it. When you feel like it’s taking too long to see results or you’re tempted to spend the time and money on something else, read the plan to stay on track.

It’s July. How is your marketing doing?