Former Head of Growth at Yahoo, Kevin Li once said… “If there’s one takeaway, it’s… that it’s okay to do small wins. Small wins are good, they will compound. If you’re doing [the small stuff] right, the end result will be massive.“ Things often considered small wins by professional services firms, such as more web traffic, more engagement on your website and more social sharing, ultimately feed into a bigger picture. Without these “small wins,” you’re starving your business of the new opportunities that will come from them all working together. If you’re interested in learning about how your firm can glean insights from data analysis that will help you achieve these wins, by enabling you to reach your target audience in a more informed way—in a way that will really resonate with them—then keep reading. Below are our top 3 tips for data analysis which is the best place to start if you’re new to professional services marketing.

1. Use Data from Previously Purchased Services

You can get the best idea about future clients by looking at your most successful current ones.

First, look at each service you provide—who has previously purchased those services?

Second, look for patterns in recent services purchases, to inform who you should be targeting which each service. For each of your services, ask yourself questions about who is purchasing them. Questions such as:

  • What industries are they from?
  • What problem did they come to us with?
  • How long did it take to convert them from prospect to client?
  • Are they active online and what social media sites do they use?

Once you’ve got the answers, look for commonalities. You might realise that those in the construction industry come to your law firm looking for planning and procurement services, and they usually take 6 weeks to go from initial contact to paying client.

From this you can tailor the timeframe of your campaigns, to ensure you’re creating the right touch points during that crucial 6 week period.

Or, you might identify that your financial services firms has a high volume of tax relief clients between January—April.

In this case, you should schedule re-engagement campaigns to run between November and December—to target those who have previously worked with you. Included in the campaign should be an offer exclusive to them, something that entices them to solicit your services again.

Existing client data analysis is important—these are the companies who have not only shown an interest in the kind of services you offer but were willing to pay out for your services too.

These are the ones you want to learn from in order to inform future client acquisition.

 2. Track Email Engagement

86% of professionals prefer to use email when communicating for business purposes (Source: HubSpot).

Firms that don’t analyse their email output—i.e. what’s working and what isn’t—generally don’t see positive results—i.e action—from the emails they send.

To learn about your target audience‘s want and needs, you need to split-test and trial your email marketing campaigns.

Note: this does not mean splitting your email database in half and sending 2 different versions to each half.

The most insightful and useful way of split testing is done by first segmenting your mailing list—by services purchased, geographic location, or job title—and then sending 5—10% of each segment different variations of the same email (each different variation is a different ‘condition’).

For example, as an incentive to sign up to your services before 2018, in one of the conditions you could offer a discounted rate on your most popular service, in the second you might offer an up-sell at no extra cost, in the third a free, no-obligation consultation.

Wait 5 days to see which receives the most engagement and then use that email to send to the remaining contacts in your database.

Trialling different elements of your emails (such as the content, style, action, time it’s sent etc.) will help you to better understand how best to engage with your prospects.

3. Monitor Your Website Traffic

“Big data and advanced analytics are creating profound new opportunities for businesses, yet only 4% of companies are able to combine the right people, tools, data and organisational focus to take advantage” (Source: Bain & Company).

Google Analytics is a great free tool for B2B marketers.

However, because it’s such a rabbit warren of information, if you don’t have the time and resources to invest into monitoring the data it collects for you, it ends up actually costing you precious time and resources.

— For a simple-to-understand, quick-start guide to Google AdWords’ Display and Search network, visit our blog home page

By leveraging the analytics provided by email and social tools, and comparing them against Google Analytics data, you can build a better picture of true conversion rates or click-through rates, along with an understanding of the average time a prospect spends on your website.

Working in this way will help you better differentiate between what is fleeting content and what is a useful resource to your target audience, so you can produce more of the latter—positioning yourself as a source of knowledge (rather than a novelty).

And that’s what builds awareness, instigates referrals and starts conversations.

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Using data analysis in your marketing efforts will not only help you to better understand your ideal clients, but it will also save your firm time and money by streamlining your efforts.

If you want a better understanding of your target audience, and how to get your firm in front of them, get in touch with Kelly via email on kelly.oconnor@www.properopartners.com.

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