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Target Marketing & Lead Generation
© 2015 Accountants Advisory Group, LLC
Nancy Damato, Accountants Advisory Group
What is Target Marketing? • A group of potential desirable
clients that a firm identifies and aims its marketing resources.
• A well-defined target market is the 1st element of an effective marketing strategy.
© 2015 Accountants Advisory Group, LLC
Total Available Market
Served Available Market
Target Market
The Landscape: • How big is the universe? • How many can we reach with our
marketing & sales channel? • Who do we want to reach and who
are the most likely buyers?
Target and Niche Marketing
Target
© 2015 Accountants Advisory Group, LLC
Niche
Connect with a clearly defined audience
Target Marketing is reduced to the most precise segment
Example: Distributors ranging in size from $20 million to $80 million in the NY Metropolitan area.
Example: same criteria as “Target,” but only in the consumer goods industries.
Target Marketing Replaced Shotgun Approach
• Less time, money and resources.
• Market has moved away from generalists and toward specialists and experts.
• Clients trust and want to engage experts.
• Marketing messages are easier to sell and more accepted.
© 2015 Accountants Advisory Group, LLC
Why is Target Marketing Essential?
© 2015 Accountants Advisory Group, LLC
Know and listen to your audience and customize your messages
Why is Target Marketing Essential?
• Right size and type of clients: – Work smarter, not harder at PD – More efficient use of partners’ time – Maximize use of resources – NOT trying to sell to everyone – Marketing to specific segments
• Easier to market beyond the local area • Your competition has been targeting for 5+ years
© 2015 Accountants Advisory Group, LLC
Old Way
Marketing & Lead Generation Gap
Develop the Marketing Plan 1st & then Lead Generation
© 2015 Accountants Advisory Group, LLC
New Way Decide on the Targets and Develop the Marketing Plan
Marketing Marketing Lead Generation
Marketing & Lead Generation Gap
© 2015 Accountants Advisory Group, LLC
3 R’s of Target Marketing
• Relevant – must be relevant to the targeted market
• Rare—point of differentiation—experts, consultants, innovative services
• Repetitious—Repetitive messages
© 2015 Accountants Advisory Group, LLC
Where Do We Start?
• Define your target markets – Industries & Specialty Practice Areas – Services – Size – Revenue – Geography
• Opportunities in the marketplace – what does the marketplace want, need and demand?
• Expertise – Existing and Need to Acquire
• Existing Clients • Referral Sources
© 2015 Accountants Advisory Group, LLC
Target Positioning of the Firm
Geographic territory
Niches and specialty areas
Competition and pricing
Marketing, sales and branding capabilities
Market perception
Market demand
Enhance technical abilities of partners and staff to meet market demand
Ability to attract, retain and develop staff
Target Positioning
© 2015 Accountants Advisory Group, LLC
- LinkedIn - Emails
- Phone Calls - Mail
- LinkedIn - Hoovers/ D&B - Search Engines - Conference Attendees Lists - Industry Association Lists
Find Attract 2011
Marketing & Lead Generation
Connect - Website
- Case Studies - Articles
- Blogs - Speaking Engagements - Webinars
- Presentations
FIND CONNECT ATTRACT FOLLOW-UP
CLOSE
- Email - Mail - Phone Calls - LinkedIn - Newsletters - GoToMeeting - Presentations
- Meetings - Proposals - Conference
Calls - GoToMeeting - Proposals
© 2015 Accountants Advisory Group, LLC
Develop Your Marketing Plan to Support Your Lead Generation
Identify the Specific
Prospects You Want to Target
Develop a Marketing Plan to
Implement the Lead Generation
Strategy
Develop the Strategies to Demonstrate
your Expertise and Put You in Front of Your
Targets
© 2015 Accountants Advisory Group, LLC
Identify Specific Prospects
Hoovers D&B
Industry & Association Member Directories Seminar/Event Attendee Lists
Lost Proposal & Lead Opportunities
Newsletter Lists
Low Hanging Fruit
© 2015 Accountants Advisory Group, LLC
Lead Generation - How Prospective Clients and Referral Sources Know About You
Professional and industry affiliations
Direct mail, emails & telemarketing campaigns
Word of mouth and client and referral
sources
Webinars, speaking engagements, special events
& trade show sponsorship
Website, SEO, social media, apps
Content: articles, white papers, case studies, newsletters, quotes, blogs, author a book
Community work, friends, social
activities
Brochures & literature
Lead Generation
© 2015 Accountants Advisory Group, LLC
Business developers/sales professionals and staff
referral program Public relations and
advertising
LinkedIn and Hoovers
The Pathway to Building a New Client Contact # 12
Contact # 11
Contact # 10
Contact # 9
Contact # 8
Contact # 7
Contact # 6
Contact # 5
Contact # 4
Contact # 3
Contact # 2
Contact # 1
Prospect
50% of accountants quit here
65% of accountants quit here
80% of accountants quit here
90% of accountants quit here You harvest the low hanging fruit
You are becoming a factor in the prospect’s mind
Bit by bit they get to know you
You are earning Top of Mind awareness
At this point you may be the only person to ever have made 8 contacts with this prospect
At this point, when your prospect is ready to buy, you have a 90% chance of being contacted
© 2015 Accountants Advisory Group, LLC
Using LinkedIn to Connect & Prospect
© 2015 Accountants Advisory Group, LLC
People do business with companies and individuals they “know, like and trust.”
LinkedIn expands your presence, approachability and reputation by improving your ability to: Build brand awareness Engage with your clients, prospects and referrals Activate your clients and contacts as brand
ambassadors
Step 1
Step 3
Step 5 Step 4
Step 2
Pipeline Reports
Track and Measure Your Steps & Progress
Follow-Up is Key! Document Every “Touch Point”
© 2015 Accountants Advisory Group, LLC
TARGET
Planned and controlled growth—not a volume approach
Increase the Firm’s name recognition
A combination of contemporary and traditional marketing and lead generation
Minimize the gap as to where marketing leaves off and lead generation begins and ends
The Goals of Target Marketing
Efficient lead generation—minimal prospecting time by partners and staff
© 2015 Accountants Advisory Group, LLC
The Goals of Target Marketing Position partners and staff to be more successful at business development.
A more successful closing ratio through a targeted approach to positioning in the marketplace.
Become a recognized “Integrated Solutions Provider.”
Increase realizations and profitability.
Shape the “Firm of the Future” for future growth and succession planning.
© 2015 Accountants Advisory Group, LLC
Step Out of Your Comfort Zone
© 2015 Accountants Advisory Group, LLC
Plenty of Fish In the Sea
© 2015 Accountants Advisory Group, LLC
Engage quality clients and others will follow
Pathway to Success
© 2015 Accountants Advisory Group, LLC
Be Patient, “Stay the Course” and Don’t Give Up
Some “Fish” Will Get Away – It’s Okay!
© 2015 Accountants Advisory Group, LLC
Thank You!
© 2015 Accountants Advisory Group, LLC
Nancy A. Damato, Accountants Advisory Group