Building your benefit plan practice

Building Your Benefit Plan Practice

Overview of Effective Digital Marketing Strategies

Brian D. Swanson, MBA

Speaker Introduction

Brian Swanson•MBA in finance & accounting

•10 years marketing EBP audits

•Experience at Big 4 & regional CPA firms

•SEMPO Certified in Search Engine Marketing

•SEMPO Certified in Search Engine Optimization

Presentation Focus

Presentation Topics:•Firmwide vs. Niche Marketing

•Value of Niche Marketing

•Getting Started

•Develop an Integrated Plan

•Digital Marketing Strategies

•Putting It Together

Firm wide vs. Niche Marketing

What’s Different?

Firm wide marketing focuses on promoting, advertising and generating awareness about the full scope of services your firm offer. A shotgun approach!

Niche marketing is an approach that ONLY promotes and educates clients, prospects and referral partners about a specific service. A focused approach!

Value of Niche EBP Marketing

Focused Marketing = Greater ROI

•Offers a new avenue of entry for approaching a prospect – most companies need a benefit plan audit.

•Creates a pipeline of immediate, short and long term new business opportunities.

•Opens the door to other opportunities with prospects (financial statement audits, tax opportunities, etc.).

•As a barrier of entry most companies will only consider firms that have a niche practice in benefit plan audits

Value of Niche EBP Marketing

What will you get from this approach?

The ultimate goal of your EBP Audit marketing program should be to generate new business opportunities.

However, it is important to set proper expectations. Your ability to generate new leads will be dependent on several factors including market awareness, strength of niche, etc.

Let’s Do It!

Okay, so how do I make it come together for my firm?

Develop a Comprehensive Plan

This should include:

•Profile of Ideal Prospect

•Prospect Lists

•Defined Tactics

•Follow Up Process – When/How

•Metrics to Assess ROI

•Manager/Partner Champion

Develop a Digital Plan

It is absolutely critical to understand that if you are not actively marketing your firm or this specific niche on a digital medium you

are the missing the boat!

Combining Traditional & Digital Marketing = Powerful Prospect Impact

Digital Marketing

POLL QUESTIONS HERE

Digital Marketing – How Much Does Your Firm Use It?

Digital Marketing

Why is Digital Marketing Important?

•Provides another forum where you can extend the firm branding and market education process

•Allows your firm access to prospects, clients and referral partners at little cost

•Can sharply increase the effectiveness of traditional marketing when implemented in tandem

Digital Marketing Methods

Website Marketing

Search Engine Optimization

3 Primary Digital Marketing Methods

Pay Per Click Advertising

Social Media Marketing

First Steps

Assess Your Brochure & Website:

•Is there a page dedicated to just the EBP audit services offered?

•Does the information provided speak to the prospects needs and motives?

•Do you explain the value your firm offers to the prospect?

•What are the reasons the prospect should consider switching to your firm?

Change is Difficult – What Makes Your Firm a Better Choice?

Sample Website

Special Service Description

Website Marketing

What is website marketing?

The process of marketing a specific portion of your website to drive qualified traffic to your site.

•PPC Advertising

•SEO

•Social Media

Pay Per Click Advertising

What is PPC Advertising?

An Internet marketing method in which the advertiser pays each time their ad is clicked and the user directed to the assigned page

Examples of PPC ads found on Google when searching 401k audits

Benefits of PPC Advertising

Why invest in PPC Advertising?

•Customizable to Your Budget

•24/7 Advertising

•Increase Brand Awareness

•Location Targeting

•Easy to Measure ROI

Search Engine Optimization

What is SEO?

Search Engine Optimization is the process of improving the visibility of a website, or specific page on the website, to search engines according to a keyword or keyword phrase.

Most firms will optimize their website based on a specific keyword such as the name of a service or the name of a service with a geographical term. (Examples include 401k audits, benefit plan audits or Chicago benefit plan audits).

Search Engine OptimizationSearch term – 401k audits

Search Engine OptimizationSearch term – Chicago benefit plan audits

Benefits of SEO

Why invest in SEO?

•Credibility Builder

•Long term positioning – unlike PPC Advertising

•24/7 Advertising

•Increases Brand Awareness

•Helps drive new sales opportunities

•Identifies opportunities beyond traditional geographical footprint

Social Media Marketing

What is Social Media Marketing?

Social media marketing is a term that describes use of social networks, online communities, blogs, wikis or any other online collaborative media for marketing, sales, public relations and customer service.

Social Media Marketing

Social Media Marketing

Benefits of Social Media

Why invest in Social Media?

•Branding

•Client/Referral Partner/Prospect Education

•Passive Advertising

•Allows you to listen to the conversation

•Lead generation tool

Putting It Together

Key Takeaways

•Market the EBP Niche Specialty

•Develop an Integrated Marketing Plan

•Combine Traditional Programs with Digital

•Set Appropriate Expectations + Metrics

•Enter the “ Shallow End” of the Pool

•Grow Your Niche!

Questions?

Have Questions?

If you would like to discuss any of the topics covered here, feel free to contact me at:

bswanson@flashpointmarketing.biz