Leads rarely deliver from drip-drip marketing
We've just held a seminar looking at how to make professional businesses' sales pipelines work better.
Before it, our participants assisted with some research. It showed that many of them were already doing a lot of marketing, such as events and some sort of regular technical update or newsletters. They were for the most part pretty organised too.
What approach have firms been taking?
The research found firms were all competent and well-regarded, doing the sort of marketing that is core activity for many accountancy firms... but it was barely bringing in any fresh leads or new clients.
One reason for the small number of leads was often a lack follow up. Ultimately, no matter how wonderful your events and newsletters are, someone needs to get on the phone and arrange a meeting to cultivate the prospect properly (or even to up-sell to existing clients).
But a really big part of the problem is that this sort of regular drip-drip newsletter marketing doesn't deliver lots of leads, no matter how well it is done.
For individual practitioners with a great network and interesting insights, a monthly drip-drip to their contact base can work well.
But for bigger practices looking to grow, it is unlikely to be sufficient except in those markets where demand is out-stripping supply (and there are not too many of these sadly).
Why the monthly drip doesn’t achieve results
It's because regular technical updates give you zero differentiation, and on top of this they rarely address the business needs of the prospect. They certainly have their place in the marketing mix, and will bring in the odd lead, but not enough to boost your growth noticeably.
Do you know what the missing ingredient to success is?
The missing ingredient, our research indicated, was the absence of sort of interesting ideas and intellectual property that would grab the prospect's attention and also allow partners to focus their discussions.
To stand out requires content with interesting ideas, such as white papers, research, case studies, round tables and commentary on industry trends - in other words, the sort of material typically called 'thought leadership'.
Often, our clients base such campaigns around research. But there are lots of other ways too: for instance, one example - hosting a round table with clients and prospects and writing up the results into a report can produce fantastic insights if done properly.Having great thought leadership is something the large and successful accountancy firms have cracked over the past 20 years, with many smaller practices producing top-quality content annually.
How does your accountancy firm compare?
So you are aware we have some case studies on the Kelso Consulting website of accountancy firms and other businesses that have achieved strong results by creating specific campaigns based around insights that have grabbed the interest of their clients. Find out more here.
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