Maximizing returns on your marketing investments
One area where we see opportunities to improve marketing, sales and BD effectiveness in large services firms is having a better investment strategy and controls around marketing publications.
Often times there is far too much marketing collateral material created and then distributed in an uncoordinated way, and where the firms do not effectively use the materials they produce, at great expense, to help build client relationships. While the content is often technically very good and insightful, the sheer volume of publications landing on clients’ desks dilutes the impact.
Good marketing materials and thought leadership should serve as a means to create awareness, stimulate demand and drive clients to want to speak to someone further and support winning that work. The purpose of the materials should be to get a conversation started with a client, or potential client, and to build credibility of your brand’s expertise – not to clutter their mailbox, inbox or desktop!
What’s worse is that some firms never even follow-up on their thought leadership or marketing pieces, and then their potential client engages a competitor to do the work for them! It is not enough to sit in the office creating great ideas… you have to integrate that with a conversation and personal interaction that helps transform ideas into revenues.
And it is not only the financial cost of printing and posting thousands of brochures. Publishing materials, including thought leadership, takes valuable time away from partners and staff who could be in the market with their clients. Firms should take care to ensure they make the best choices before they invest, as the opportunity-cost is enormous before you even print one page or paste any content to your web site or industry blog.
We help you implement an approval process for any marketing materials being produced, or mass distributions of any kind (mailed or emailed) to ensure that your firm’s external contact with the marketplace is coordinated and aligned.
There needs to be a commercial logic to the way in which you invest in marketing materials, sponsorships and events. Firms should not invest people, money or time where there is no clear purpose and value aligned to the firm’s priorities and market growth strategy.
We help you actively challenge the real value any proposed initiatives will deliver through asking some simple, fundamental questions and show you how to let the process become the authority to which all are accountable, removing politics from the equation as best as possible in a partnership.