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Effective Marketing for the Public Practitioner - Presentation by Michael Carter at IPA Symposium in NSW - June 2011

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Effective Marketing for the Public Practitioner - Presentation by Michael Carter at IPA Symposium in NSW - June 2011

  1. 1. Effective Marketing forthe Public PractitionerMarketing for Accountants, DemystifiedMichael ‘MC’ Carter - Director of Practice Paradox
  2. 2. Effective Marketing forthe Public PractitionerMarketing for Accountants, DemystifiedMichael ‘MC’ Carter - Director of Practice Paradox
  3. 3. What We’ll Cover Today1. Why marketing is now a focus for many firms2. Why you need to start taking marketing seriously3. Dispelling common myths about marketing4. Practical marketing tips you can apply today5. Start you on your learning journey about marketing
  4. 4. FASTEN SEAT BELTS 4
  5. 5. Write down your No.1 Marketingor Growth-Related Challenge
  6. 6. Who’s in the room?
  7. 7. Ranking of Top Challenges Facing Firms2010 Rank Challenge 2008 2009 2010 ↑ or ↓ No.1 Growth 25% 31% 37% ↑ 6% No.2 Profitability 24% 27% 28% ↑ 1% No.3 Cash Flow 15% 23% 26% ↑ 3% No.4 Productivity 24% 23% 20% ↓ 3% No.5 Introducing New Services 14% 12% 20% ↑ 8% No.6 Debtor Management 13% 16% 19% ↑ 3% No.7 Write Offs 21% 23% 18% ↓ 5% No.8 Getting New Clients 12% 14% 18% ↑ 4% No.9 Efficiency of Firm’s Processes 23% 20% 14% ↓ 6% No.10 Client Relationships 7% 9% 12% ↑ 3%
  8. 8. Survey Practice Paradox™ Conducts• Marketing skills training • 41% have never been trained in marketing • 14% haven’t received training in over 5 years 61% • 6% haven’t received training within the past 2 years• Selling skills training • • 48% have never been trained in selling skills 16% haven’t received training in over 5 years 77% • 13% haven’t received training within the past 2 years
  9. 9. So what’s the Paradox?
  10. 10. MORAL OBLIGATION?
  11. 11. YOU ARE IN THE BOX SEAT You can change lives.
  12. 12. ✓Compliance ?
  13. 13. The Golden Triangle LeadersAdvisors Support Team
  14. 14. Marketing is ...
  15. 15. MARKETINGMYTHBUSTING
  16. 16. MARKETING MYTHBUSTING MYTH TRUTH1. Marketing is advertising. 1. Advertising is dead.2. Sponsorships are marketing. 2. Sponsorships are donations.3. Marketing is difficult. 3. Marketing has never been easier.4. Marketing is a creative pursuit. 4. Marketing is logic and numbers.5. A ‘corporate’ website matters. 5. Traditional websites are dead.6. A website client portal matters. 6. Clients don’t care much about it.
  17. 17. MARKETING MYTHBUSTING MYTH TRUTH7. Accountants are not marketers. 7. Accountants must be marketers.8. Marketing is about persuasion. 8. Marketing is about EDUCATION.9. Clients like your newsletters. 9. Most clients don’t read them.10. Marketing is about new clients. 10. It is first about existing clients.11. Marketing is differentiation. 11. ‘Differentiation’ is a pipe dream.12. Social media is a fad. Kids’ stuff. 12. Social media is POWERFUL.
  18. 18. Marketing isthe communication of value one-to-many
  19. 19. Because the purpose of a business is to create a customerthe business enterprise has only two functions marketing and innovation These produce results. Everything else is a cost. Peter F. Drucker
  20. 20. What you can measure, you can manage. What you measure, improves.
  21. 21. What do you measurefor achieving growth?
  22. 22. Clientshare™Definition: Number of Services ProvidedPer Client Group Per YearCan be measured across entire firm,per Partner/Director, per Client Managerand per Client Group.
  23. 23. Measuring Clientshare™Example: Married couple who own a business:1 for the two ITRs,1 for the Company Return,1 for the End of Year Accounts,1 for Quarterly BAS preparation,1 for their SMSF administration,1 for their Family Trust work___________________________= Clientshare™ of 6
  24. 24. Growing Clientshare™Example (continued): Potential services:1 Tax Planning,1 Cash Flow Budgeting,1 Succession Planning,1 IT Consulting_____________________________= Increases Clientshare™ from 6 to 10
  25. 25. ExerciseHow many services is your firmcurrently capable of delivering?(Separate, nameable services)
  26. 26. So what is your Clientshare™?
  27. 27. FASTEN SEAT BELTS 33
  28. 28. Your Marketing Machine
  29. 29. Your Marketing Machine
  30. 30. Defining your niche(s) 1. Write down your favourite 6 clients 2. Write WHY you like dealing with them 3. Is there a common element between them? 4. Get CRYSTAL CLEAR on WHO your firm is targeting
  31. 31. NICHING MAKESYOUR MARKETING EASIER AND MORE EFFECTIVE
  32. 32. Your Marketing Machine
  33. 33. Your Marketing Machine
  34. 34. Your Marketing Machine
  35. 35. Don’t teachelephantsto dance Bugger this for a joke It wastes your time and annoys the elephant 48
  36. 36. Does your firm mixhave the rightof social styles?
  37. 37. }Amiable ExpressiveReminder Minder Rainmaking Zone Go to website practiceparadox.com.auGrinder FinderAnalytical Driver
  38. 38. PEOPLE Amiable Expressive Reminder MinderASK TELL Grinder Finder Analytical Driver TASK
  39. 39. PEOPLE• Cooperate to gain • Create excitement and agreement involvement• Provide support Amiable Expressive • Share ideas, dreams,• Communicate trust Reminder Minder enthusiasm and confidence • Motivate, inspire, persuade ASK TELL• Focus on facts, logic Grinder Finder • Focus on results• Act when payoff clear • Take charge• Careful not to commit Analytical Driver • Make quick decisions too quickly • Like challenges TASK
  40. 40. If you only ever do what clients ask forThen you are a human vending machine (:
  41. 41. If you only ever do what clients ask forOrder takers can be replaced by technologyThink webjet.com.auWhy? Advisers add value. Order takers do not.
  42. 42. QUESTION TIME www.twitter.com/practiceparadox http://www.facebook.com/PracticeParadox http://www.linkedin.com/in/getmcMichael ‘MC’ Carter - Director of Practice Paradox

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