We recently launched our State of the Digital Marketing in Professional Services Report, that looks at how sectors like the financial and accounting industries approach new business enquiries and referrals. Following on from its launch, we took a deeper look at the results to see what is needed of a firm to generate more enquiries.
Interestingly, 100% of financial respondents feel professional services firms will need to embrace proactive digital marketing strategies to get ahead in 2017 and beyond. This proves that most people in the finance industry understand the significance of digital marketing, and the impact it can and will have on their firm.
When it comes to receiving new business enquiries, professional services firms acquiring the most per month (20+) leverage an average of 4.25 different digital marketing techniques. This includes methods such as blogging, social media advertising, content marketing, and email marketing, to name just a few. In contrast, firms that receive the fewest new business enquiries per month (0-5) use an average of only 1.9 different tactics.
This data suggests that in order to proactively attract more clients, professional services firms need to expand their digital marketing approach by casting a wider, more varied, net over their ideal target audience. Instead of simply focusing on one or two tactics to draw in new business – or rather, no tactics at all – firms need to leverage a range of methods to grow their market share.
Similarly, firms that convert 45% or more of their new business enquiries into paying clients, use 16% more marketing methods than those that convert only 5% of their enquiries. This is likely due to the fact that professional services firms using more methods do a better job of ‘warming up’ to potential clients simply because the sheer visibility of their brand portrays authority in the market.
This visibility appeals to modern day ‘buyers’ who are thoroughly researching service options and seeking recognised industry leaders in their field, before physically interacting with a representative of the firm to make a final buying decision.
To generate more enquiries and convert more clients, the bottom line is this: firms that are investing in a variety of marketing methods are seeing a significantly greater return than those that are not.
If you want to generate more enquiries, but are uncertain where to start or how to create an efficient marketing strategy, get in touch. A member of our senior team will be happy to talk you through the most efficient route your firm can take in order to see the best return on investment.
To download the full UK Industry Report 2017: The State Of Digital Marketing In Professional Services, click here.