the essential first step for any growth strategy.
by bruce w. marcus
professional services marketing 3.0
because an accounting firm’s marketing program must do more than accumulate clients, and because it must function in a dynamic world that’s constantly in flux, an effective marketing program can’t be a static list of activities that use a static list of marketing tools.
more professional services marketing 3.0 by bruce w. marcus:
— eight tips for staying one step ahead of the competition (and maybe the client, too)
— nine things we know for sure about how to grow an accounting firm
— the cpa’s castle is crumbling
— my address in space: the dynamics of change at accounting firms
— six quick reasons why cpa firms will never be the same
— 14 steps to find the right “value price”
— it’s not just accounting anymore. today, everyone’s in marketing
instead, it must have clear objectives that are flexible enough to accommodate the dynamic nature of the market. it must focus on specific aspects of a practice, predicated on the distinctive needs of each aspect of the prospective clientele. for example, a marketing program to attract high asset individuals is different from one to attract corporations. a program to attract real estate developers is different than one to attract builders.
and while it’s commonly assumed that the idea is to sell the firm, experience shows that marketing accounting services works best when it focuses on individual market segments. obviously, then, a clear understanding of each market served is essential.
in other words, no one-size-marketing-program-fits-all. how, then, recognizing the foregoing differences, can marketing programs be devised that are focused, effective, and competitive?
the answer resides in formulating objectives for each program, based on the distinctive characteristics of each market.
start by setting clear objectives. if you don’t know where you’re going, how do you know how to get there?
absent clear goals, marketing efforts become random, diverse and expensive. with clearly delineated objectives, marketing programs and marketing activities become relevant and focused. they offer a test against which all activities are measured. if a marketing activity doesn’t clearly serve to meet a specific objective, it’s usually wasteful, inept, and not cost-effective.
two things about planning that are immutable:
- firm and marketing plans are intertwined. you can’t have one without the other. the objectives for the firm and the objectives for the marketing program must closely relate to one another, simply because no serious firm plan can be viable without the marketing thrust to make it so, nor can any marketing program be effective if it’s not relevant to the firm plan.
- both plans begin with a realistic assessment of the market to be served, and with an understanding of the skills necessary to reach and serve the market.
it’s important that objectives be realistic and achievable, and not just wishful thinking. setting objectives, then, even for the smallest firms, is not an abstract exercise. and therefore, all firm plans and their objectives must begin with a clear understanding of the market to be served. not to recognize this is to court meaningless and irrelevancy in all planning.