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Marketing Planning Process for Professional Services

Any firm that wants to succeed needs a marketing plan. Without one, an organization has no systematic approach for promoting itself to potential clients. The alternative is a haphazard, start-and-stop, inefficient effort that wastes time and money — two valuable resources no professional services firm can afford to squander.

However, the marketing planning process that works well for consumer products, industrial goods or not-for-profits is not well suited for professional services. This is a lesson we have learned after many years of working across these fields.

With that in mind, let’s take a look at what it takes to put together an effective marketing plan specifically for professional services firms like yours.

Of course, there’s more to a marketing plan than a list of ideas to promote your firm. You need to follow a specific process — one that produces a plan custom-tailored to your needs.

Before we get into that process, however, let’s clarify a few key marketing planning concepts.

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Marketing Planning Process Defined

The marketing planning process is a systematic approach for developing marketing goals, strategy and implementation tactics. It may be adapted to a wide variety of situations, from the launch of a new firm or practice area to the repositioning of an existing firm — even the routine planning of new business development activities.

Depending on your specific situation, certain phases of the process may take on greater or lesser importance. For example, when launching a new practice area it’s prudent to focus on its strategic components. This is sometimes referred to as developing a go-to-market strategy

When focusing on repositioning your firm in the marketplace, often called rebranding, you will most likely need to emphasize both strategic and tactical elements to increase the visibility of your new brand.

Once a year, most firms update their marketing plan or marketing budget, and they spend the majority of their time evaluating current performance and adjusting tactics. While they may take a cursory look at the bigger picture, few firms retool their entire firm strategy each year.

Benefits of the Marketing Planning Process

It’s important to take a thoughtful, step-by-step approach to your marketing plan. Done right, it can yield a number of valuable benefits that can jumpstart success:

  1. It encourages you to revisit old habits and assumptions.

In a changing world, you have to learn to adapt — doing things the way you’ve always done them is not a winning strategy. A good marketing plan should take you, to some degree, outside your comfort zone and question everything you’ve done to date and why you thought it would work. Just because you’ve “always done something that way” doesn’t mean it’s effective or even a good idea.

  1. It reduces risk by adding new facts.

The process of developing a marketing plan forces you to reexamine your marketplace, your competition, your target audience and your value proposition to prospects. This kind of focused research reduces risk because it compels you to evaluate your business model and marketing program before you commit time and money to them. According to our studies of professional services marketing, firms that conduct systematic research into their target audiences grow faster and are more profitable.

  1. It provides accountability.

Marketing planning makes both your marketing and business development teams set specific targets and measure their progress toward them. Management is accountable for providing enough resources to ensure the marketing plan has a reasonable chance to succeed.

  1. It is proactive rather than reactive.

Planning ahead puts you in control of your marketing so you can maximize its impact. However, it’s important to be agile enough to react to changing circumstances. Having well-documented plans makes it easier to change them.

  1. It can become a competitive advantage.

High-growth firms use their marketing strategy as a differentiator. By giving some thought to what makes your firm unique, you should be able to develop compelling differentiators — one or more clear reasons to select your firm over an apparently similar one.

The 7-Step Marketing Planning Process

  1. Understand the business situation your firm is facing.

The purpose of marketing is to enable a firm to achieve its business goals. If you do not start with a clear understanding of those goals and any constraints that limit your ability to achieve them, you will be unlikely to succeed.

Look closely at the factors that affect your standing in the marketplace:

  • Has an influx of new competitors slowed your growth?
  • Is price sensitivity squeezing the margins on your existing services?
  • Are you competing in a commoditized market?
  • Are you poised to lose key players to retirement?

SWOTThese are just a few of the key business drivers of marketing strategy.

Often, you can use a SWOT analysis to organize and evaluate your business drivers. Within this framework, observations about the firm or practice are categorized as strengths, weaknesses, opportunities, or threats. You want to do everything you can to root your planning process in reality. While that may seem obvious, many firms spend little time on their SWOT analysis, relying instead on personal beliefs and anecdotal experience.

There is a better way. Start conducting regular, systematic research into your marketplace. Firms that do this kind of research at least once a year grow faster and are more profitable.

Different types of research apply to different stages of the planning process. For example, opportunity research compares the viability of different markets or target audiences. Client or persona research helps you get a better understanding of your target clients and how they select a firm. When we assist clients with the planning process, we often combine several types of research into a comprehensive package we call brand research that can be applied throughout the planning process.

  1. Research and understand your target clients.

It’s rare to meet practicing professionals who do not believe that they fully understand their clients, their needs and their priorities. Sadly, they are almost always wrong about some key element of their clients’ thinking and decision-making. They clients’ real priorities and they rarely understand how clients choose new providers.

For example, you may realize that your clients value you as a trusted advisor. What you may miss, however, is that almost no potential client goes looking for a trusted advisor. Instead, they are almost always looking for someone to solve a specific business problem.

If you understand that key distinction — and build your marketing plan accordingly — you will win more new clients, and then evolve into their trusted advisor. Remember this every time you see a competitor position their firm as trusted advisors. They’ve got things backwards.

When you are doing research, focus on your best, most desirable client segments. Which ones do you want more of? This will help you isolate which important benefits you derive from them and equip you to find more clients like them. It will also help you learn how your clients get information and search for new providers. This will help you in subsequent steps. 

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  1. Position your brand in the marketplace.

Successful positioning rejects conformity. At its best, positioning elevates a brand above the fray so that people can’t help but take notice. The human brain instinctively looks for things that are different and unexpected. So a brand that stands in stark contrast to its competition will attract people’s attention and have a distinct advantage in the marketplace.

This starts with identifying what makes you different. These are called your differentiators, and they must pass three tests. Each must be:

  • True— You can’t just make it up. You must be able to deliver upon your promise every day.
  • Provable— Even if it is true, you must be able to prove it to a skeptical prospect.
  • Relevant— If it is not important to a prospect during the firm selection process it will not help you win the new client.

It’s best to try for three to five good differentiators. If you have fewer than that, take heart. Sometimes one great differentiator may be enough.

Next, you must use your differentiator(s) to write a focused, easy-to-understand positioning statement. This is a short paragraph that summarizes what your firm does, who it does it for, and why clients choose you over competitors. It positions you in the competitive market space and becomes the DNA of your brand. 

Each of your audiences (e.g., potential clients, referral sources, potential employees) is interested in different aspects of your firm. In other words, different messaging needs to be developed for different audiences. All of your messages should be consistent with your positioning, but they may focus on different benefits and overcoming different objections. 

  1. Define and refine your service offerings.

Often overlooked in the planning process, your service offerings can get stale. Evolving your services over time is how you develop and hone a competitive advantage.

As clients needs change, you may want to create entirely new services to address those needs. Your research may uncover issues clients are not even aware of yet, such as an impending regulatory change, suggesting a range of possible service offerings. Or you might change or automate part of your process to deliver more value at a lower cost with higher margins.

Whatever these service changes turn out to be, they should be driven by your business analysis and your research into clients and competitors.

  1. Identify the marketing techniques you will be using.

This starts with understanding your target audiences and how they consume information. Once you gain insight into how, where and when your prospects are looking for information about services like yours, you can identify and exploit their preferred channels. It’s all about making your expertise more tangible and visible to your target audience. We call this Visible Expertise.

Achieving high-level visibility requires a balance of marketing efforts — our research has shown that a 50/50 blend of offline (traditional) and online (digital) techniques works best.

Examples of offline marketing:

  • Networking
  • Speaking
  • Meetings
  • Print Publications
  • Direct Mail
  • Cold Calls
  • Print Advertising
  • Associations/Trade Shows

Examples of online marketing:

  • Social Media
  • Webinar
  • Phone/Video
  • Blogs/Online Publications
  • Email
  • Search
  • Online Advertising
  • Groups/Online Conferences

Modern Marketing Funnel
In addition to balancing your marketing techniques, be sure to create content for all levels of the sales funnel — to attract prospects, engage them and turn them into clients. To keep things as efficient as possible, plan to use content in multiple ways. For example, a webinar could be repurposed as blog posts, guest articles and a conference presentation.

  1. Identify the new tools, skills and infrastructure you will need.

New techniques need new tools and infrastructure. It’s time to add any new ones you may need or revise those that aren’t up to date. Here are some of the most common tools:

Website – Modern marketing begins with your website. Your strategy should tell you if a new website is needed or if adjusting your current messaging or functionality will be sufficient.

Marketing Collateral – You may need to revise your marketing collateral to reflect your new positioning and competitive advantage. Common examples of collateral include brochures, firm overview decks, one-sheet service descriptions and tradeshow materials.

Marketing Automation – Software is making it easier and easier to automate your marketing infrastructure. In fact, marketing automation tools can be a game changer and essential to building a competitive edge.

Search Engine Optimization (SEO) – Online search has transformed marketing. Today, every firm that conducts content marketing needs a solid grasp of SEO fundamentals — from keyword research to on-site and off-site optimization.

Social Media – Adding or upgrading your firm’s social media profiles is often required. And don’t forget to update the profiles of your subject matter experts.

Video – Common ways to use video include firm overviews, practice overviews, case stories, blog posts and educational presentations. If your subject matter experts have limited time to devote to developing content, video may be an efficient way to use the time they have.

Email – You’ll need a robust email service that allows you to track reader interactions and manage your list — it may even be built into your CRM or marketing automation software. Also take a look at your email templates and decide if they need a refresh.

Speaker Kits – If your strategy involves pubic speaking or partner marketing, you may also need to develop a speaker kit. A speaker kit provides everything an event planner might need to select a one of your team members for a speaking event: a bio, professional photos, sample speaking topics, a list of past speaking engagements and video clips.

Proposal Templates – Proposals are often the last thing a prospect sees before selecting a firm, so make sure yours sends the right message. At the very least, make sure you’ve included language that conveys your new differentiators and positioning.

Don’t forget the skills you will need. Even the best strategy will accomplish little if you don’t fully implement it. Many leaders find it challenging to build a full marketing strategy with just the right balance — and it can be even more challenging to keep teams up-to-date on today’s ever-changing digital tools. Your choices are learn, retain or hire. The fastest growing firms use more outside talent.

  1. Document your operational schedule and budget.

This is where your strategy gets translated into specific actions that you will take over time. Your written plan should include specific timelines and deadlines so that you can measure your progress against it. Did a task happen as scheduled? Did it produce the expected results? These results will become the input for the next round of marketing planning.

You will need two key documents, a marketing calendar and a marketing budget. The marketing calendar should include every tactic you will be using to implement your plan. It can cover the upcoming quarter or even the entire year. Begin by entering any events you know about, such as annual conferences and speaking events. Include every regularly scheduled blog post, emails, tradeshows, webinars — everything in your plan.
Recognize that you may need to adjust your calendar regularly, possibly as often as weekly. The purpose is to build in consistency and predictability. Leave room for last-minute changes — but don’t get too far away from your plan and budget.

To build a budget, start with the tools and infrastructure we just mentioned. For reoccurring elements such as advertising, estimate the cost for a single instance then multiply by the frequency. Use benchmarks when available, and don’t forget to allow for contingencies, typically 5-10% of overall budget.

Download the Marketing Planning Guide: Third Edition

Top Marketing Planning Tips

The planning process can be daunting. Here are a few tips to make it go more smoothly. 

1. Start with a review of how the world has changed since your last planning process.
This will put needed changes into context and prepare your team to consider new ideas. For example, what marketing strategy has your competition put into place and what new competitors, if any, have appeared? Have your sales and revenue changed? Have you introduced new services? Any change in your marketing environment requires a change in marketing plans.

2. Focus on the problems you solve and the value you can bring, not the services you provide.

Remember, prospects will not care about you and what you have to offer until they realize the value you can provide them. That means focusing on what their problems are and how you can solve them. They’re not buying your services, they’re buying your solutions.

3. Always lead with research.

Knowledge is power. The more you know about your market, your clients, your prospects and your competition, the more you can address them in your marketing plan. Research reduces risk. Invest in it and you won’t be sorry. But remember, professional services are different. Consumer-style research won’t work for B2B professional services.

4. Expertise wins new clients and attracts top talent.

Potential clients don’t want to hire amateurs — they want to hire the best talent their money can buy. By making your expertise visible and compelling, you’ll be ensuring prospects talk to you first. Also, the best employee talent wants to work for the top firms. If your firm is seen as an expert in its area, you’ll be sure to attract the best employees, too. 

5. Expertise is best conveyed by visibility and making complicated topics understandable.

The more your firm’s experts are seen and heard — and the more prospects turn to them for a clear understanding of complex topics affecting them — the more new business you’ll attract.

We call these people Visible Experts®, and our research shows that buyers seek them out when they have a specific problem or challenge that requires a solution fast.

6. Use marketing techniques that have been proven effective.

Once again, a little homework goes a long way. As discussed earlier, find out how prospects like to receive their information and then include those channels in your marketing plan. Don’t waste time and money using channels that potential clients aren’t using. Above all, make sure your website is current, is easy to navigate and contains the kind of valuable content that attracts the right target audience.

7. Most marketing does not work because it is not correctly implemented.

Even the best-laid plans can go awry if they are under-resourced, under-funded and poorly implemented. Make sure you have the right plan in place and the resources and talent needed to successfully implement it. If you don’t have the ability to implement in-house, partner with an outside resource that does.

8. Select fewer initiatives but fully resource the ones you do select.

Focus on the quality of your efforts rather than delivering quantity. If you want to try a new technique, decide which old one you are going to stop (or pause). It’s far more effective to focus on a few highly targeted techniques than take a shotgun approach and implement a dozen half-baked marketing initiatives.

9. Make sure you can attract the talent you will need.

Employer brand is an often-overlooked but crucial element in any marketing effort. Professional services firms that can attract and retain the right talent have a major strategic advantage.

10. Track each stage of the marketing pipeline.

Do not measure short-term impacts only. Your marketing plan should align with your firm’s overall business development strategy. We’ve seen good results from marketing plans that contain specific milestones, offering a long-term roadmap to grow your firm.

The right marketing plan and tools give professional services firms the power to expand their horizons and reach audiences in distant markets. But your marketing plan has to be flexible. Online marketing gives you the power to recognize what is working and what isn’t, and you need to be prepared to make adjustments on the fly. But don’t discard traditional tactics that have been working for you just because they are old. Carefully consider every technique’s role and value in your marketing, then use research and your best judgment to select the best ones for your plan. Just don’t bite off too much, or you may drown in a sea of possibilities.

Happy planning!

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