Are you laying the foundation for a strong, long-lasting business?
When times were tough this past year, did you find yourself taking on any paying client? Are those clients now much more work than the revenue they bring in? Are you still worried about generating enough revenue and making it through to the end of the year? Are you struggling to grow your firm? If you answered yes to any of those questions, chances are you’re marketing plan is lacking.
It’s no secret. If you want a long-lasting, successful business, you have to start with a strong foundation. And that foundation includes having a strong marketing plan that can guide you into making the best decisions to grow your firm, not just doing anything because it will bring in a few dollars.
“In the past, the normal was your professional services business could survive if you had a pulse,” says marketing strategist Lisa Nirell in her podcast interview, Setting the Foundation for a Strong and Wealthy Company. “You could have a few good paying clients and get by pretty well. But today, the only way you can thrive is if you have a plan. And the plan is the only way to navigate through what we’ve seen in the last five or six years.”
What should your plan include? To start, you have to acknowledge the pressures buyers are feeling about having little time and too many options, and make sure your messaging clearly articulates your value and how you can help them with their challenges. Stay away from talking about your services and instead talk about how you can make their lives better—eliminate the problem, save money, save time, etc.
“The more time you spend talking about your service, the less inclined a prospect will want to continue that conversation,” says Kelley Robertson in his article, How to Lose a Prospect’s Attention in 5 Seconds. “The more you focus your attention on their situation and their problems and demonstrate how you can help them improve their business, the more you differentiate yourself from the competition.”
When you discover a niche that few if any providers are addressing, you can further differentiate yourself. That was the case for Robert King when he founded Legally Nanny. He wanted to hire a nanny and could not find anyone who could help him comply with all of the legal and tax requirements employing in-home staff. And so Legally Nanny was founded, writes Gwen Moran in her case study, How a Legal Services Firm Grew Revenue by 66% in One Year with Low-Cost Marketing.
King used that niche, as well as extensive content marketing, social media networking, and word of mouth, to make Legally Nanny a go-to provider.
“We do tons of marketing and absolutely no advertising. I don’t pay any money for advertising, and I take advantage of all the free sources of marketing that are out there,” he says.
What does Legally Nanny tweet? They share articles in which they are quoted, partnerships, training opportunities, King’s upcoming speaking engagements, and articles King has written—to name a few things.
Joseph Riden, author of Twitter Tactics That Help You Get New Clients, stresses that firms (or people tweeting on behalf of firms) should stay away from tweeting the boring irrelevant things that have given Twitter a bad name, such as what you had for breakfast and your morning walk with your dog.
“Consider tweeting something that would contribute to the conversation you want with clients or prospects,” Riden says. “Put yourself in their shoes. Ask, ‘What tweets would make me feel smarter or better at business?’ ”
In his article, Riden explains an excellent Twitter campaign that he says caught the attention of prospects and got them to take action—click over and get more information.
Nothing, however, beats referrals for generating new business. People come to you already trusting you because someone they like and trust pointed them in your direction. But to get those referrals still takes work. If your referral engine isn’t chugging along as good as you like, C.J. Hayden suggests partnering with others.
“There are many possible referral sources for any business other than its own clients. You can begin to build your referral base dramatically by seeking out referral partners,” Hayden writes in her article, Need More Referrals? Partner Up.
Potential partners include other prospects, colleagues, and competitors. Yes, competitors. You may have a specialty that they don’t cover. And there could be times when they’re unable to take on new business, perhaps they don’t have the resources or there is a conflict.
“The best partnerships are reciprocal. If the two of you share the same target market, the possibility of two-way referrals is high,” Hayden says. “But even if you can’t imagine how you could refer business to a potential partner, don’t let that stop you. Savvy business people are always looking for qualified professionals like you to refer business to because it helps them take care of their own clients.”
