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Integrated Sales And Marketing
1.
Integrated Marketing and Business
Development in the professional services firm Highlights of The Bloom Group’s Study September 2008 Boston, MA © 2008 The Bloom Group LLC
2.
2007 Bloom Group Survey
Integrating Marketing and Business Development In Professional Services Firms • 18 questions answered by 224 respondents 2 © 2008 The Bloom Group LLC
3.
Lack of orchestration is common
• Only a slight majority (54 percent) said marketing and business development activities were strongly coordinated. Some 46 percent said they were coordinated sometimes, infrequently or not at all. • The majority (57 percent) were not working off the same timeline of demand‐creation activities most or all of the time. • In about one‐third (32 percent), no one was managing the overall demand‐ creation process. 3 © 2008 The Bloom Group LLC
4.
What is the price?
• Less than one‐third (29 percent) of the professional firms reported a high or very high rate of success in creating market awareness of their services • Only 31 percent said they were highly or very highly successful at getting meetings with prospects • An even lower percentage—25 percent— said they had high or very high success in getting a request for a proposal following a sales meeting 4 © 2008 The Bloom Group LLC
5.
Contrasting leaders and laggards
Characteristic Leaders Laggards Sales and marketing functions are coordinated/ integrated 77% 40% Work off the same timeline of activities 62% 38% Work off the same issue‐based campaign 77% 53% Work off the same client/prospect database 75% 56% 5 © 2008 The Bloom Group LLC
6.
The key determinant of success
• Success is not a function of – Who does the selling – Who reports to whom – Whether there are full‐time business development professionals – Whether marketing reports to business development or vice versa Most professional firms are not playing the same game on the same team, using the same game plan, or keeping the same scorecard 6 © 2008 The Bloom Group LLC
7.
What it feels like to be a buyer
1. I'm feeling insecure. I'm not sure I know how to 7. I'm feeling ignorant, and don't like the feeling. I detect which of the finalists is the genius, and don't know if I've got a simple problem or a which is just good. I've exhausted my abilities to complex one. I'm not sure I can trust them to be make technical distinction. honest about that: it's in their interest to 2. I'm feeling threatened. This is my area of convince me it's complex. responsibility, and even though intellectually I 8. I'm skeptical. I've been burned before by these know I need outside expertise, emotionally it's kinds of people. You get a lot of promises: How do not comfortable to put my affairs in the hands of I know whose promise I should buy? others. 9. I'm concerned that they either can't or won't take 3. I'm taking a personal risk. By putting my affairs in the time to understand what makes my situation the hands of someone else, I risk losing control. special. They'll try to sell me what they've got 4. I'm impatient. I didn't call in someone at the first rather than what I need. sign of symptoms (or opportunity). I've been 10.I'm suspicious. Will they be those typical thinking about this for a while. professionals who are hard to get hold of, who 5. I'm worried. By the very fact of suggesting are patronizing, who leave you out of the loop, improvements or changes, these people are going who befuddle you with jargon, who don't explain to be implying that I haven't been doing it right what they're doing or why, who . . . , who . . . , up till now. Are these people going to be on my who ... ? In short, will these people deal with me side? in the way I want to be dealt with? 6. I'm exposed. Whoever I hire, I'm going to have to reveal some proprietary secrets, not all of which © David H. Maister 1993 are flattering. I will have to undress. 7 © 2008 The Bloom Group LLC
8.
How clients increase their confidence in the supplier
100% 90% Select • Meet with short‐ 80% Qualify listed candidates Trust and Confidence Contract • Scour the market for • Investigate detailed 70% • Agree detailed potential suppliers capabilities, working approach and • Evaluate against style, rates etc. 60% resources essential criteria • Determine preferred • Agree contract terms • Reduce to short‐list supplier 50% and price 40% Make sure we have Make sure that we Make sure that the several candidates have a candidate who: approach is one that 30% who could technically • has a successful suits us do the work track record, 20% • and with whom we can work 10% 0% 8 © 2008 The Bloom Group LLC
9.
The marketing & sales campaign should mirror the buying process
Select Contract Qualify • Meet with short‐ • Agree detailed • Scour the market for listed candidates approach and potential suppliers • Investigate detailed resources • Evaluate against Buyer Process capabilities, working • Agree contract terms essential criteria style, rates etc. and price • Reduce to short‐list • Determine preferred supplier Create relationship Create client Create Awareness • Design and run • Craft tailored • Formulate messages participative approach • Run broadcast Seller Process marketing programs • Secure resources marketing programs • Respond to enquiries • Agree contract terms • Capture details of • Discuss potential and price suspects work with prospects 9 © 2008 The Bloom Group LLC
10.
Economist Intelligence Unit Survey 2008
10 © 2008 The Bloom Group LLC
11.
“Would‐be clients say ‘don’t tell me you
can do something; show me how you’ve done it or how you’ll do it.’” 11 © 2008 The Bloom Group LLC
12.
Thought leadership is the fuel for a campaign
Select Contract • Meet with short‐ Qualify • Agree detailed listed candidates • Scour the market for approach and • Investigate detailed potential suppliers resources capabilities, working Thought • Evaluate against • Agree contract style, rates etc. essential criteria Leadership terms and price • Talk with references • Reduce to short‐list • Determine preferred • Points of supplier view Create relationship Create client Create Awareness • Client • Design and run • Craft tailored • Formulate messages participative Case approach • Run broadcast marketing programs • Secure resources Examples marketing programs • Respond to • Agree contract • Capture details of enquiries terms and price suspects • Discuss potential work with prospects 12 © 2008 The Bloom Group LLC
13.
Executives see integrated, consistent
thought leadership as the best way to reach a wide audience with the greatest impact. 13 © 2008 The Bloom Group LLC
14.
Marketing and Bus Dev have complimentary roles
• Create high contact • Provide boiler‐plate • Formulate messages marketing sales presentations • Create awareness events/seminars • Assist with proposal • PR • Get prospects to firm‐ development • Articles hosted events • White papers • Email • Website etc • Print marketing etc. • Capture prospect details • Run the events Create Relationship Create Awareness Create Client • Ensure alignment with • Propose and encourage campaign messages invitees to attend • Craft tailored approach • Gather background on • Secure resources attendees ‐ prioritize • Agree contract terms • Participate in events • Respond to inquiries and price • Engage prospects that marketing • Arrange follow‐on meetings generates 14 © 2008 The Bloom Group LLC
15.
Together they close the contract
Marketing Process 100% • Create high contact • Provide boiler‐plate • Formulate messages marketing sales presentations • Create awareness 90% events/seminars • Assist with proposal • PR • Get prospects to firm‐ development • Articles 80% hosted events Trust and Confidence • White papers • Email • Website etc 70% • Print marketing etc. • Capture prospect details Thought • Run the events 60% Leadership Create Relationship Create Awareness Create Client 50% Case 40% Examples • Ensure alignment with • Propose and encourage campaign messages 30% invitees to attend • Craft tailored approach • Gather background on 20% • Secure resources attendees ‐ prioritize • Agree contract terms • Participate in events • Respond to inquiries 10% and price • Engage prospects that marketing • Arrange follow‐on meetings generates 0% Sales Process 15 © 2008 The Bloom Group LLC
16.
What thought leadership is:
A novel and substantive point of view (POV) on a ubiquitous client problem – A compelling perspective on the root causes of an issue and the best way to solve it The ability to package that POV and create “buzz” in the marketplace – Capture expertise that is practiced by your professionals but previously not codified for mass consumption A way to demonstrate you have superior expertise, not just claim that you have it – The professional services industry’s equivalent of a grocery store sample “A perspective is worth 80 IQ points” Alan Kay, former Xerox PARC and Apple scientist and father of many aspects of the personal computer 16 © 2008 The Bloom Group LLC
17.
Example
Business • One service line of a global professional IT and consulting services organization Topic • Thought leadership campaign on customer relationship management (CRM) • Based on a self‐ assessment tool and a Point of View created from an executive survey Marketing Campaign • Consisted of – Direct mailing of the Point of View – Media relations on the survey results – Management roundtable on the topic co‐sponsored by a business publication – Co‐marketing of the Point of View with vendor partners • Cost of campaign; $120,000 Results • The first win, a $600,000 consulting engagement, in just six weeks. • Six months after launch, the campaign had generated $35 million in sales © 2008 The Bloom Group LLC
18.
The Bloom Group
The Bloom Group powers up marketing for professional services firms. We specialize in helping professional services firms determine their marketing strategy, attain thought leadership and grow their business through effective thought leadership marketing and campaign execution. Contact us at: Tel: 978.335.4313 email: tparker@bloomgroup.com © 2008 The Bloom Group LLC
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