The conventional wisdom in professional services rests on the argument that marketing is a luxury, not a commodity, for partner-based firms. The push and pull between traditionalists and outliers is that marketing services present an unnecessary cost center to a firm. This argument is typically justified by the “numbers.” The cost of a marketing strategy and department needed to execute on marketing initiatives can be a significant investment and the return on this investment is often hard to monetize. We get it.
With that in mind, it is important to present the other side – why marketing is essential/imperative to the competitive strategy of ANY professional services firm wishing to be relevant and stay a step ahead in the industry.
Today’s marketplace is VISUAL. It’s connected. It’s integrated. There is no escaping the fact that unless your firm engages with its referral sources, audience, potential clients and competition, it loses critical ground on the competitive edge. In addition, with professional services firms constantly struggling to identify their points of differentiation (P.O.D.), you can bet that not having a solid marketing and brand presence will certainly call out “negative P.O.D.”
Consider this – in order to create an impactful marketing campaign, you need to have the perfect blend of four elements:
Brand & Strategy
Communications & Content
Social & Digital Media
Creative Direction
Without these elements, depending on marketing to support your business message and persona is like leaning on a table with three legs. If one of these areas is weaker than the other, you may need to evaluate how many of your campaigns are ineffective, a waste of resources and a drain on the energy of the other pillars.
Brand Efficiencies
Your brand is your identity. Your brand is your promise to clients, your talent and the community. Your brand must communicate trust. In a relationship-based industry, your brand is your bond.
There can’t be enough said about the importance of creating a brand identity that communicates the persona, strength and culture of your firm. A clear and up-to-date identity confirms that your organization is invested in staying consistent and relevant to an ever-changing marketplace and competitive landscape. Remember earlier we mentioned “negative points of differentiation.” Don’t let those be applied to you.
Once you have decided on a brand that communicates your intention as well as your promise, creative assets can be built out to touch every aspect of your marketing needs. When you have clear communication, both visually and through content, your ability to get buy-in to your brand, both internally and externally, grows exponentially.
Brand awareness is key. Remember the adage “repetition = recognition”? The more integrated your brand is, the more it reinforces your message and in that light, it becomes second nature to blanket your initiatives with a consistent look and feel. When you stick to the plan, the results manifest in attention, interest, engagement and partnerships.
Shift Your Thinking
Shifting your thinking about your marketing and marketing strategy will make it easier to accept that committing to the four essential elements of marketing will create a revenue opportunity, not a leaky cost center. Brand building (creative and effective messaging through logos, website, newsletters, blogs and visual storytelling) saves time and helps to generate revenue in freeing up billable hours.
– Ronit Koren: RoKo Marketing Founder/Principal, Strategist