My take on the role of social media in Professional Services Marketing
As a former professional services marketing professional now working in the digital media industry I have been intending to post a blog about professional services marketing in the digital age for some time now. The reason why it has taken me so long to get around to is probably partially due to the fact that the professional services industry is hardly at the forefront of digital marketing. In fact, when compared to other industries, professional services is probably about 10 years behind everyone else - something that most professional services marketers are acutely aware of.
So what is the reason for this? A major factor is that in most large professional services firms the people making the decisions about marketing are not actually marketers, they are senior partners, often forming committees of partners with no marketing experience to make the most important marketing decisions. The majority of senior partners are not themselves involved in the digital space so they automatically assume that their clients aren't there either. This belief that the clients are not heavily involved in the digital space and to communicate effectively with your clients in the digital space they need to actually be listening and participating online. Whilst this may be true to a certain extent, the reality is, to compete in today's market, you need to be leveraging digital. Whether it's for the purposes of online collaboration, research, networking or project management, it cannot be denied that digital is the way of the future. If your clients aren't already there, they will be soon. If you're not already there, you risk missing out on important ways to compete for the future of your client base. Another factor is that because social media is still in its infancy when compared to traditional marketing mediums, there is still a lot of experimentation going on. Whilst most digital marketing channels are by far easier to measure than traditional marketing channels, we are still learning how to get the most out of social media. This is an exciting prospect for many marketers who are seeking to push the boundaries to find out new ways of getting the most bang for their marketing buck and to stay ahead of the curve. However, as I just mentioned, in the professional services industry, more often than not, it's the partners who have the final say and experimenting with the unknown means taking risks. Partners in professional services firms spend their lives trying to avoid risk, it's their job and they are very good at it, that's why they've made partner. However, social media is all about making it easier to bring people together to build and strengthen relationships, transfer and share information and communicate in more efficient and effective ways. For an industry that centres around sharing knowledge and information and forging strong relationships, it seems non-sensical that professional services firms have not grabbed on to social media with both hands! Of course, there are some of the big professional services firms are finally 'getting it' and experimenting more... To me, the obvious front-runner in Australia is Deloitte with Deloitte Digital who are leading the way in the delivery of professional services online. This digital arm of Deloitte offering a range of online tools including financial tools, online training, compliance and HR solutions, clearly positions them as leaders and innovators in the tax, audit and advisory industry. Deloitte also incorporates social media as an important part of their communication strategy, both for internal and external communications. Read more about how Deloitte is using social media. In the legal industry, most of the big players are starting to dabble in social media in one way or another - mostly through Twitter and with a few starting to use blogs which is good to see. Whilst the wheels do appear to be in motion, most are still a long way behind in terms of their approach and understanding of how to best use the social media tools they have chosen, particularly with regard to a lack of integration. For example, in most cases, their blogs are not integrated with other elements of their online presence like their website and Twitter account to allow users to easily find the blog and reTweet posts that they feel are valuable meaning that the blog is most likely to miss out on the potential to be more widely circulated beyond the firm's immediate contacts, to contacts of contacts and so on. There is an upside to the slow uptake of social media by the big firms however in that some of the biggest opportunities exist for smaller firms trying to get their name out there and establish themselves as 'thought leaders'. These smaller firms currently don't have the same amount of noise to cut through as currently exists with other communication channels where the big firms are focusing their energy. Also, social media doesn't require the big budgets that other marketing channels require meaning that this is a perfect medium for the smaller firms. My top tips for professional services firms using social media would be: 1. Don't write the same old style articles and bulletins and post them online and call them blogs - they shouldn't be a straight copy and paste. These traditional articles are generally sent out via eMarketing and are one-way communication tools used to update and inform readers. Blogs on the other hand should be about two-way communication and should encourage readers to comment and engage with the blogger. This is much easier said than done but there are several techniques you can use to encourage this two-way interaction. The main way of doing this is obviously to write about topics that are likely to evoke strong opinions. If you want people to express their thoughts and opinions you should make it very clear which position you are taking to encourage others to agree or disagree. You should also ask questions in your blog, for example - "I think XY&Z. I'm really interested to hear what others think - let me know if you agree or disagree". This two-way engagement will also help to set you apart from your competitors who are delivering similar information but do not offer the benefits of the opportunity to respond and interact with others who are interested in those issues. 2. Choose a few social media tools you want to focus on and use them regularly. The most valuable sources of information are those that regularly deliver quality content. For example, set goals to write a certain number of blog posts per week or per fortnight. It is far too easy to let social media fall by the wayside without setting targets. 3. Integrate your chosen social media tools with your other online and offline marketing tools - that might include things like:Linking to your blog from your website.
Including the social media icons (Twitter, Facebook etc) on the website.
Making sure that blogs have functionality to be reTweeted to increase the likelihood that those readers with a Twitter account will pass on the link to their network of contacts, thus increasing your reach. 4. Start talking about how you're going to use social media more in your firm - as we know, it often takes a long time to get partners on-board and make decisions so get things moving sooner rather than later to avoid being left even further behind. 5. Encourage younger staff members to start blogging, even if it's just for an internal blog, or if it's going to be reviewed by a senior staff member before being published. Blogging is an excellent professional development tool - it encourages you to research and build your knowledge around a given issue for you to try to position yourself as a thought leader. This is important for all industries but particularly for professional services where thought leadership is such a key factor to establishing your reputation.
So... l would be keen to know what you think... :)












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