Expertise Marketing - Marketing for Professional Service Firms

Sign up for our e-newsletter on 
professional service firm marketing 
 
back issues 


RESEARCH: Increasing Marketing Effectiveness at Professional Firms

Click to purchase the Marketing Effectiveness StudyProfessional Firms can Increase their Revenues by Effectively Measuring Marketing and Business Development Initiatives

Professional firms could earn a lot more revenue from their marketing and sales efforts if they just did one simple thing: measure them effectively. This is among the insightful findings of our 80-page research report Increasing Marketing Effectiveness at Professional Firms published jointly by Expertise Marketing LLC of Concord, MA and Larry Bodine Marketing of Glen Ellyn, IL.

ORDER HERE

Study Results (80 pages)
and
Case Studies (68 pages)

Download both for one price: $225
Add to shopping cart - you can remove it later

 


 

“The case studies are fantastic. Your study results support the necessary integration of marketing, sales, public relations and business development. Thanks again for a great survey!”
Angela Cincotta
Transportation Strategic Communications Manager
Vanasse Hangen Brustlin

“This is a terrific study... very informative, comprehensive... and helpful.”
Barbara Marx
Co-CEO
Legal Insight Media, Inc.

 


The study includes data from the following professional service sectors:

  • accounting
  • architecture
  • construction
  • general contracting
  • engineering
  • environment & energy consulting
  • executive search
  • human resources consulting
  • information technology consulting
  • law
  • management consulting
  • real estate
  • marketing
  • and several other professional services sectors

 

The report also includes an additional 68 pages of valuable case studies in which 18 marketers in accounting, law, architecture, real estate, engineering and other professional services gave interviews on their marketing efforts and how they measured them.

The first study of its kind reported that collectively the respondents spent a paltry sum – less than one-tenth of a percent of an aggregate US$ 94 billion in gross revenue – on formally measuring marketing and business development.

With partners and senior executives hammering marketers to improve the ROI of their marketing and sales efforts and even justifying their jobs, this finding is just astonishing.

Now, for the first time, we have a verified link between competitive effectiveness and the intentional act of measuring. Marketers and business developers should immediately switch to activities that can be measured, and critically review their firms’ emphasis on the rest.

Why you need to buy this research report now:

  1. The report goes into depth on which marketing initiatives are the most effective. It also singles out the three worst: forecasting (i.e., envisioning future economic and business scenarios), analyzing market share and alumni outreach programs. Marketers should ask themselves if those programs are worth the effort, and seek to improve their effectiveness if they are not.

  2. Compare your firm with the professions that say they are the most “extremely effective” at marketing. In order, they are: Construction/ General Contracting, Environment & Energy Consulting, Engineering, Accounting, and Architecture. Your firm may have a lot to learn from the leaders.

  3. Our findings provide breakthrough insights about which metrics work, which ones won’t, and why. Until now, professional service marketers have had to fly blind and on a shoestring about measuring their programs’ effectiveness.

  4. This is THE most comprehensive research you will find on the topic. We conducted a six-week unblinded Internet study. Our study featured a total of 377 respondents from a broad cross-section of professions, including: accounting, architecture, construction / general contracting, engineering, environment & energy consulting, executive search, human resources consulting, information technology consulting, law, management consulting, real estate, marketing and several other professional services sectors.

  5. Learn the four steps that a professional firm must take to succeed at achieving marketplace leadership. The report is a roadmap for marketers to follow, and makes clear which activities are a waste of time. Professional service firms do have the ability to compete more successfully in today’s marketplace. They must expand their firm’s marketing beyond simply acquiring clients. They have to do significantly better at using meaningful, non-ignorable marketing and business development metrics.

Who should buy this report:

  • Marketing directors
  • Managing partners
  • CEOs
  • Marketing and P.R. managers
  • Marketing partners
  • Business development directors
  • Consultants and vendors to professional service firms
  • Partners
  • Associates and Managers
  • Librarians

Among the 15 key findings of the report:

  1. Respondents’ highest ranking initiatives reveal a strong link between marketing and sales.

  2. Professional firms that said they were extremely effective used three particular client-focused metrics in combination with each other. These three are: (a) Growing client revenue: “Did you grow revenue with your client or not?” (b) Moving the phases of a sale through a pipeline: “Did you close the sale or not?” and (c) Listening to the client: “Did you listen to your client or not?”

  3. Only 20% said they were “extremely effective” in growing revenues against rivals; nevertheless, the more Client Metrics a firm used, the more it said it was extremely effective in growing revenues against rivals.

Marketers in all fields face obstacles to measurement, with the most common complaints being:

  • Our people aren’t inclined to measure
  • It’s hard to change their mindset
  • Measurement is not viewed as a worthy activity
  • Our people avoid accountability
  • Measurement is perceived as too hard, too costly and too time-consuming

Measurement obstacles are largely self-caused and are related to inertia and avoidance of accountability. Now that we have verified the powerful punch that formal measurement provides, there should be no more excuses to avoid it.

ORDER HERE

Study Results (80 pages)
and
Case Studies (68 pages)

Download both for one price: $225
Add to shopping cart - you can remove it later

 

If you have any questions, please fee free to contact:

Larry Bodine at Lbodine@LawMarketing.com or contact Suzanne Lowe slowe@expertisemarketing.com.

 

 

© 2008 Expertise Marketing LLC, All Rights Reserved    Privacy Policy     Contact Us    Site Map