Today we launch our very own industry analysis report, The State Of Digital Marketing In Professional Services, which investigates how digital marketing is influencing the way sectors such as the financial services look at and approach lead generation and referrals.
The report came from an understanding that professional service firms are increasingly sceptical of the efficiency of ‘new’ (digital) marketing methods. Throughout this report we present the facts that demonstrate what effective digital marketing currently looks like in the industry and how to get real value from your client generation efforts in addition to referrals.
84% of survey respondents indicated that professional service firms need to be proactive with digital marketing in 2017 to get ahead of their competitors. And 51% of respondents in the accounting sector say they received new business enquiries through website downloads. These results prove that financial service firms are aware of the value digital marketing can add to their business growth processes. And, when they implement an effective strategy, they see positive results.
Finance and Accounting Sectors: The Digital Marketing Situation
One of the main conclusions drawn from both the financial and accounting sectors was that both industries understand the importance of digital marketing but aren’t necessarily sure where to start or, aren’t spending strategically. 92% of financial services respondents believe that in order to get ahead in 2017 they need to embrace digital marketing. However, 50% of financial firms do not allocate a marketing budget. This shows that firms understand what digital marketing can add, but need more direction on what they should be doing to properly utilise it.
However, data shows that many firms have started to embrace digital by developing an online presence. 90% of financial services respondents’ firms have a website and half of the remaining 10% are looking to develop one in the near future (5%).
Looking at the statistics, it’s clear that most financial services respondents believe the first step in becoming more digitally savvy is having an online presence – which is a good start. Websites are now an absolute necessity when it comes to generating new leads. In fact, 30% of firms who don’t get any new enquiries per month don’t have a website. Having an online presence (website and social media channels) validates your firm and allows people to access information about your service offerings whenever and wherever they choose.
To understand how your firm’s digital marketing efforts compare to others in the financial and accounting industries and get a better understanding of the meaning behind the numbers, purchase our full report here.