In the world of public accounting, when we say the word “marketing” different professionals and different generations can view it in many different ways.
To some partners it means keeping their current clients happy. Others will argue that a constant flow of new clients keeps the firm healthy and growing. And, still others will say that marketing means being visible and active in the local business community.
All of these viewpoints are accurate. I learned much about marketing from the writings of David Maister (retired consultant guru to professional service firms). Maister said that professional firms must execute a FULL PACKAGE of practice development steps covering five main categories of activity:
Broadcasting. It includes all the activities that generate leads and opportunities with new clients.Think of webinars, articles, blogs, social media, newsletters and speaking.
Courting. When you do get a lead, it turns into courting. You are no longer addressing a group, your are addressing a specific prospect. When a client hires you, the client is entering into a relationship, so your activities are better described as courtship.
Super-Pleasing. The easiest marketing is super-pleasing your current clients. Word of mouth is very powerful and a client will only talk about you if the client is truly delighted and eager to work with the individuals inside your firm.
Nurturing. Sometimes when we are focused on pursuing NEW business we might forget about current clients. For relationships to remain strong, they must be nurtured (just like a marriage).
Listening. To round out your marketing (or practice growth, as they call it now) activities, you must listen to the market and continually gather market intelligence. The better you understand how your clients think, the better you are able to serve them. Don’t guess or assume what your clients want, ask them and LISTEN.