Integrated Marketing Strategies for CPAs

Pre-Conference: Workshop #102

Using Integrated Marketing Strategies for
Exponential Results

Michelle Golden, CPF
Eric Majchrzak

Today.

•  What
to
plan

•  How
to
decide

•  Who’s
the
buyer

•  How
to
plan

•  Organizing
and
execu/ng
campaigns

•  What
results
to
expect
&
when

•  Tracking
progress

Deﬁni/ons.

MARKETING

Any
ac/on,
behavior
and
process
that:

•  Ensures
repeat
business
from
current
customers

•  Compels
prospec/ve
buyers
to
hire
you

CAMPAIGN

A
process—with
a
beginning,
middle,
and
ending—
to
promote
a
par/cular
oﬀering

INTEGRATED
MARKETING

The
use
of
mul/ple
marke/ng
tac/cs
or
channels

(i.e.,
tools)
within
a
single
campaign

Eﬀec/ve
marke/ng.

•  You’re
ﬁndable

•  Illustrate
uniqueness
&
character

•  Support
claims
of
exper/se

•  Demonstrate
“thinker”
&
up-‐to-‐date

•  Personally
accessible

•  Others
know
&
respect
you

•  From
stodgy
back
to
“grassroots”
marke/ng

Image:
lydiaboote
(ﬂickr)

Posi/oning
for
growth.

1.  Credibility
+
visibility
=
key

2.  Evidence
as
a
key
player

and
readily
available
(W.O.M.)

3.  Awareness
among
unknown
RSs

4.  Reach
desired
clients

5.  Get
face-‐to-‐face
mee/ngs
with
top
prospects

6

Visibility
+
Credibility
=
KEY

NOT
A
NEW
FORMULA,

THIS
IS
CLASSIC
MARKETING

Levels
of
marke/ng.

Engaged

LEADS

Present

Passive

INVOLVEMENT

goldenprac/ces.com
8

WHAT
ARE

SOCIAL
MEDIA?

Image:
ironrodart
(ﬂickr)

A
con,nually
changing
set
of
tools

and
their
users(!)
that
facilitate
informa,on

sharing
and
rela,onships.
Online.

Social
Media

1.  Engagement

2.  Self-‐publishing

•  Can
successfully
do

eng
w/o
self-‐pub

•  Self-‐pub
is
marke/ng

holy
grail
for
PSFs

•  w/out
eng,
SM
is

merely
passive

marke/ng

goldenprac/ces.com
12

Why
posi/on
a
specialty.

1.  Stand
apart

more
appealing
+
easier
to
ﬁnd
+
compelling
to

buy
from
=
higher
close
rate

2.  Develop
‘GO-‐TO’
status

step
to
front
of
line
for
quality
referrals
&
publicity

opportuni,es

3.  People
pay
more
for
specialists

4.  Aoract
recruits
to
a
solid
clientele

5.  Create
a
more
valuable
prac/ce

©
2010
Golden
Prac/ces
Inc
14

Compe2ng
on
price

(i.e.,
without
other

dis2nguishers)

Increased
need
to

Reduced
percep2on
of

sell
new
work

value
by
client
=
less

to
cold
leads

apprecia2on

Vicious
Circle:

Less
chance
of
rehire
&
Non-‐euphoric
aCtude

referral
by
client

Perils
of
Compe2ng
on
going
into
the
work

(aﬀects
reputa2on)
(less
$
&
respect)

Price
Alone

Lower
2me
investment

Low
team
enthusiasm

(realiza2on
pressure)

for
the
project
=
less

=
less
la2tude
to
go

pleasant
aCtude

“extra
mile”

Reduced
quality
&

pro-‐ac2vity
perceived

by
client
(who
seems
to

forget
cheap
price)

Image:
dstomp
(ﬂickr)
16

16

Individual
vs.
ﬁrm.

INDIVIDUAL
FIRM

•  Business
performance
•  Collec/ve
web
presence

•  Seqng/managing/mee/ng
•  Collec/ve
public
rela/ons

expecta/ons

•  Collateral

•  Service
quality

•  Adver/sing

•  Rela/onships

•  Conversa/ons
•  Event
planning

•  Online
&
oﬀ
•  Sponsorships

•  Visibility
•  Direct
marke/ng

•  Events/ac/vi/es

•  Media

Marke/ng
ac/ons.

Innova2on
(new
solu/ons/
Expecta2on
Management

products,
dev
processes,
Conversa2ons/Listening

improve
eﬀec/veness)
Debriefs
(BARs/AARs)

Con2nuing
Ed
(new,
Delega2on

advanced)
Skill/Svc
Current
Face
Time

Apply
Industry
Knowledge
Dev
Clients
Industry/Org
Par2cipa2on

(id
KPIs/sector,
studies,
Succession/Transi2on

surveys)
Service
Grid

Worthiness
of
Trust

Credibility
COIs

(behavior,
impression,

respectable
ext/int)
Clarify
Messages
(educate)

Competence

Face
Time/Follow-‐up

(write,
speak,
lead)
Reciprocity/Reward
(track)

Capability
Evidence

New
Biz
Target

(case
studies,

tes/monials,

representa/ve
clients,)

Involvement

(visible
in
core
markets)
ID/Study/Reﬁne


Face
Time/Follow-‐up

Demonstrate
Relevance,
Credibility,

Trustworthiness

goldenprac/ces.com
18

Marke/ng
ac/ons.

Innova2on
(new
solu/ons/
Expecta2on
Management

products,
dev
processes,

improve
eﬀec/veness)
Debriefs
(BARs/AARs)

Con2nuing
Ed
(new,
Delega2on

advanced)
Skill/Svc
Current
Face
Time

Apply
Industry
Knowledge
Dev
Clients
Industry/Org
Par2cipa2on

(id
KPIs/sector,
studies,
Succession/Transi2on

surveys)
Service
Grid

Worthiness
of
Trust

Credibility
COIs

(behavior,
impression,

respectable
ext/int)
Clarify
Messages
(educate)

Competence

Face
Time/Follow-‐up

(write,
speak,
lead)
Reciprocity/Reward
(track)

Capability
Evidence

New
Biz
Target

(case
studies,

tes/monials,

representa/ve
clients,)

Involvement

(visible
in
core
markets)
ID/Study/Reﬁne


Face
Time/Follow-‐up

Demonstrate
Relevance,
Credibility,

Trustworthiness

goldenprac/ces.com
19

Must
be
found
online.

•  LinkedIn
profile
(solid)

•  Google
profile
(claim)

•  Solid
bio
on
your
websites

•  Twioer?

•  Facebook?

•  Blogs?

When
they
find
you,
what
do
people
see?

©
2010
Golden
Prac/ces
Inc

Who’s buying.

Target Personas
and their COIs

Specific Skills,
Triggers/
Services &
Situational Needs
Expertise

©
2010
Golden
Prac/ces
Inc
22

Basic model for all messaging.

Target Personas
and their COIs

Specific Skills,
Triggers/
Services &
Situational Needs
Expertise
Consider both in
messaging: Target
Personas & COIs

©
2010
Golden
Prac/ces
Inc
23

IMSF

Integrated
Marke/ng
Strategy
Framework

1.  Establishes
business
objec/ves

2.  Addresses
key
details
for
each
marke/ng

ini/a/ve

3.  Sets
expecta/ons
for
results

Grid
format
easiest
to
spot
missing
info

Framework.

1.
Clarity
of
purpose

•  Who/Where

•  So
That

•  By
When

2.
Details
of
approach

•  How/Steps

•  When/Steps

3.
Expecta/on
management

•  How/Assess

•  When/Assess

Case study:
Tax credit locator

ERIC MAJCHRZAK

American Institute of CPAs

Tactics Align with Sales Cycle

Screening Evaluation Decision-making Procurement
(AWARENESS) (INTEREST) (DESIRE) (ACTION)


Use Value Offers and Experiences to Market
Make the intangible, tangible!

!   Legislative overviews
!   Whitepapers
!   Industry surveys
!   Checklists
!   Case studies
!   Book
!   Webcasts
!   Free consultations
!   Diagnostic tools


“Typical” Niche Integrated Marketing Plan
!   Situation Analysis
!   Marketing Objectives
!   Marketing Strategies
!   Marketing Tactics

Marketing Tactics Initiative Responsible Completion by? Metric? Aligns w/which Jan Feb March
goal? (Purpose)
Targeted Account Activities
Conferences/Sponsorships
Memberships
Advertising (Radio, Print,
Outdoor)
Collateral
Thought leadership
materials
Internal marketing
Direct Marketing
Public Relations
Website
Traditional Networking
Social Media

CASE STUDY:
Tax credit locator


Direct mail


Print ads


Tax credit commercial on
Buffalo Bills Radio Network


Engagement on Blogs


Promote tax credits on LinkedIn


Use status updates to
inform network about tax credit locator


Join groups to expand dialogue on LinkedIn


Social Media Monitoring w/helpful answers


Talking tax credits on Twitter


Promote tax credits on Facebook


Targeted tax credit advertising
on social networking sites


Social Media and search engine optimization


50 state strategy with search engines


“Earned Media” Placements Re: Tax Credits


Mobile Marketing: Tax Credits


Newsletter: Tax Credits


Digital billboards: Tax Credits


Campaign results: ROI
Tax credit locator: 10 week campaign @ Cost $15,000

!   Average 5-8 new contacts/prospects per day using the tool
!   10 week total to date: 490 new contacts/prospects
!   35% (or 171) of prospects eligible for tax credits
!   Website traffic spiked 20%
!   We have answered over 500 questions
relating to tax credits via all channels
!   $100k worth of engagements to date


SM?
Pick
your
purpose.

1.  Customer
service/reputa/on
enhancement

•  Create
proac/ve
fan
base

•  Monitor

•  Make
problems
right

2.  Business
development

•  Build/strengthen
business
rela/onships

•  Interact,
share

•  Credibility

•  Build
team,
recrui/ng

3.  Just
to
learn
(passive,
but
OK
place
to
start)

Which
tool
for
what?

Overlay.

Begin

New
Sales

Per
Month
Twee/ng

Integrate
Launch

website
into

Facebook
Page

all
marke/ng

Launch
new

website

Teach
team

about
SM

Begin
SEO

2003

2004

2005

2006

2007

2008

2009

Track
men/ons.

•  Where
did
it
appear?

•  Who
said
it?

•  What
was
said?
(categorize
–
clip
ﬁle)

•  Was
it
about
par/cular
dept
or
person?

•  Was
it
posi/ve,
neutral,
or
nega/ve?

•  Did
it
include
reference
to
page?
Which?

•  Who
responded?
How
fast?
(clip)

Key
points.

•  Grassroots
marke/ng
builds
rela/onships

•  Expect
lead
results
only
when
engaged

•  Right
tool
for
the
job

•  Rule
of
Three
(or
more)

•  Be
a
reliable,
credible
source
of
knowledge

•  Content-‐based
strategies
+
human
interac/on

keep
your
marke/ng
alive!

37

Questions?

Michelle Golden
michelle@goldenpractices.com
Blog: goldenpractices.com
Web: goldenpracticesinc.com

Linked In: linkedin.com/in/michellegolden

Twitter: @michellegolden

Eric Majchrzak
eric.majchrzak@freedmaxick.com

Linked In: linkedin.com/in/ericmajchrzak

Twitter: @FreedMaxickCPAs


Speaker Biography
Michelle Golden, CPF
Michelle Golden is a business advisor with a deep knowledge of CPA firm
operations and sharp observation skills. On the forefront of innovative practice
management strategies, she is a senior fellow of VeraSage Institute, the think
tank for advancing the professions. She’s named in Accounting Today as one of
Ten Most Powerful Women in Accounting (2009) and one of the Top 100 Most
Influential People in Accounting (2010).

Through sound strategies and effective communications, she’s helped more than
100 firms achieve results such as: doubling revenue, attracting top talent, aligning
operations with long-term objectives, effectively communicating their differentiation
both online and off, substantially increasing sales/proposal results, new product
development and launch, and strengthening relationships with clients.

Providing practice management counsel, Michelle leads strategic planning processes, marketing (niche
and individual) planning, conducts 360 degree evaluations, facilitates problem solving, and inspires
organizational improvement. As an IAF Certified Professional Facilitator, Michelle brings helps groups
progress in a constructive manner.


Speaker Biography
Eric Majchrzak
Eric Majchrzak is the Director of Marketing of Buffalo, NY-based Freed Maxick &
Battaglia, CPAs, a “Top 100” largest CPA firm in the U.S. He has 20 years of
experience in marketing, media and sales. Eric drives revenue for his Firm by
leveraging integrated marketing strategies that include traditional and new
media, including search engine marketing, mobile and social media. He was
named one of Accounting Today’s “Top 100 Most Influential People” in 2010. He
is a current Board member of the Association for Accounting Marketing (AAM)
and Past-Chairman of AAM’s website committee. Eric has instructed courses on
behalf of the Accounting Today Institute (Social Media Series). He was also
named one of Buffalo, NY's "10 People to Watch in 2010" by the reporters and
editors of Buffalo Business First. In 2006, he was honored nationally as the
“Rookie Accounting Marketer of the Year” by AAM.
He has been published and profiled in several accounting trade and business publications, including
the CPA Practice Management Forum, AICPA Insider, Accounting Today, Buffalo Business First, Chief
Marketer Magazine, MarketingSherpa and Success Magazine. Eric and his firm were featured as a
case study in the book Social Media Strategies for Professionals and their Firms, authored by Michelle
Golden. He is a 1991 graduate of Buffalo State College. Connect with Eric on LinkedIn at http://
www.linkedin.com/in/ericmajchrzak


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