How professional service firms achieve above average growth

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In a 2019 survey of 1,014 professional service companies from around the world, respondents that generated more than 66% of their leads from online sources, grew more than twice as fast as firms that generated less than 33% from online activities.

These high growth firms were more likely to use downloadable content in the lead nurturing process, along with traditional methods such as phone calls and meetings. The laggards in the survey favoured traditional techniques such as networking, face to face meetings and word of mouth referrals.

 

The results demonstrate that firms embracing digital transformation are most likely to grow at a higher than average industry rate.

Business Growth

Next-level business growth

While the growth benefits from digital transformation are clear, how do you develop a sound marketing strategy for next-level growth?

 

Median Annual Growth Rate of Professional Services Firms Over Time

 

 

THE KEY, IS KEEPING IT SIMPLE WITH CLOCKWORK EXECUTION

Most firms are still unsure exactly how they should transform.
Long hours are spent on managing client expectations and retaining top talent. This leaves inadequate time to think about a digital marketing strategy that will provide stable growth moving forward.
To optimise your firm's operations and remain viable for years to come, you must take advantage of digital technology today or be left behind.

Use a content strategy designed to raise your brand awareness and position your team as industry experts to dominate your competition.
The increased awareness amongst your industry peers will also help attract talent to your firm.

We use a 4 step process that acknowledges where you are today and sets a clear path to the next level of your success.

Step 1

Transformation to a seamless digital marketing plan that operates behind the scenes begins with benchmarking.

Step 2

A comprehensive understanding of your digital footprint will dial-in an exacting plan to reach your goals.
Research and user insights formulate a strategy that will build forward momentum and finally have your team in lockstep.

Step 3

Build and launch personalised marketing campaigns. Campaigns are designed to educate and provide valuable information to anyone looking for guidance. Potential clients will search for a solution to their dilemma before reaching out for professional help. Campaigns use content to provide answers and demonstrate your core competencies. They offer a digital introduction to potential clients.

Step 4

Campaign data is used to make informed tactical decisions. Adjusting variables where needed, the cycle then begins once again with constant and never-ending improvement to push higher than average growth rates.  Content and consistency are integral parts of successful digital marketing.

Relentless execution of this 4 step process guarantees growth.

 

CONTENT IS AT THE HEART OF EVERY DIGITAL STRATEGY

Content syndication (the distribution of owned content across the web) is a secret tactic we use to engage with potential clients who are actively seeking a solution to their problem. Once you've developed great content, expand your reach and return on invested time by syndicating your articles.

As with most things in life, there is an easy way and a hard way of getting your content published.  The approach we take with our clients is a mix of both.  Free syndication requires a lot of leg work and good old perseverance.  Paid content syndication is achieved via platforms like Outbrain, Taboola and Scoop.it. These platforms work much like Google ads. You set a budget and identify an audience you would like to target.

PROVIDE VALUE IN ADVANCE

Your knowledge and experience have no doubt helped many people over the years.  By sharing your stories and case studies via content, you provide valuable advice that will help guide potential clients. This digital nurturing begins the process of building a trusting relationship with the prospect.

BUILD TRUST

Chances are, the leaders in your industry employ a proven and repeatable method to educate and build trust with their ideal client using content. These firms leverage their knowledge and become a vital part of their client's initial research.  By the time they meet face to face, the potential client has already qualified the firm. They are confident that the firm can provide the desired outcome and are much closer to engaging with a professional.

Subsequently, the firm's productivity grows with less time consumed qualifying prospects.
This change impacts the overall profitability of your company and puts you on a path to increased profit margins.

TEAM EFFICIENCY

Digital content provides a powerful and cost-effective path to growth when compared to traditional methods. Networking or advertising offer limited life span with little impact once the event or publication has passed. Most content will provide years of lead generation and brand exposure long after it is published. You would be hard-pressed to find an alternative tactic that returns a better ROI than content marketing.

INCREASE WEBSITE TRAFFIC

Another benefit to content generation is improved Google ranking and SEO results. When Google sees that your content is relevant and helpful, you will be rewarded with higher rankings and therefore increased traffic.

ESTABLISH YOUR FIRM AS A LEADING INDUSTRY EXPERT

Syndicated content is an effective key tactic we use to engage people right at the time when they are searching for help.

 

*Article Source: Do, K., (2019), Legal Services in Australia, IBISWorld, ANZSIC Report M6931

 

Transforming your business doesn't need to be complicated or overwhelming. It requires four simple steps.

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