Your Marketing Department, Our Marketing Expertise
For over 19 years, Professional Services Marketing, LLC, has provided outsourced marketing department services to scores of firms in the legal and financial services industries. The decision to hire PSM as your firm’s marketing department enables you to focus on what you do best while still making business growth and new client development a priority. With PSM on your team, you also have the benefit of a fully staffed, highly experienced marketing department, while paying a small percentage of the cost to hire an in-house marketing department.
Hiring even one in-house marketing professionals involves a full time salary, benefits, office space, computer technology, software, professional development and training. The cost can range from $70,000 to well over $250,000 depending on the level of experience of the marketing professional. The typical annual fee our clients pay is significantly less, yet includes full access to our entire outsourced marketing team comprised of high level strategists, project managers, copywriters, website developers, SEO and social media experts, public relations professionals, graphic designers, photographers, videographers –every resource a services marketing firm would require in its marketing department.
Is Your Firm a Good Candidate for Outsourced Marketing?
The ideal client for PSM’s Outsourced Marketing services is a small to mid-sized firm in the legal or financial services industry that is ready to take its marketing efforts to the next level. Our clients recognize the value of a strategic marketing plan and understand the fundamentals of growing their business through marketing but do not have the time themselves or the internal resources to commit to this effort. By bringing PSM on board, our clients are able to focus their efforts on their core business while benefiting from a thoroughly knowledgeable and experienced team of specialized marketing professionals. PSM is proud to partner with an extensive list of clients in the legal and financial services industries who have entrusted us with their marketing efforts to preserve their own time and talents for delivering high quality professional services in their respective industries.
Our Results-Oriented Process
PSM is focused on helping clients expand business and grow revenue. Our approach to outsourced marketing includes four distinct phases:
Phase I – Strategic Marketing Assessment (Month 1)
We create a snapshot of where the firm is now in its marketing and new business development efforts, using a combination of strategic assessment tools and interviews with key partners and principals.Our philosophy has always been to focus on developing a sound strategy before implementing tactics. We use our PSM Strategic Marketing Questionnaire (SMQ) to gather as much information as we can on the current situation at your firm. We then create a comprehensive Strategic Marketing Assessment with preliminary recommendations for your firm before we create the Strategic Marketing Plan.
Phase II –Development of a Strategic Marketing Plan (Month 2)
We develop a unique and customized marketing plan designed to expand relationships with current clients and contacts, drive new revenue into the firm, increase the firm’s name recognition, and effectively communicate with contacts. Read more about our marketing planning process. Our Strategic Marketing Plans include business growth objectives, target audiences, key messages, revenue summary and goals, AND a tactical implementation calendar. Our marketing plans are clear and concise roadmaps designed to provide focus and accountability during implementation.
Phase III – Implementation (Months 3-12)
We utilize the PSM “Dream Team” of marketing experts to create your outsourced marketing department. Whether the plan calls for graphic design, copywriting, website design, social media, public relations, branding, advertising, surveys, referral source development, or anything else, we lead the charge so you can focus on delivering services to your clients. We plan and facilitate monthly marketing meetings at your firm and develop, agendas, meeting summaries, and an implementation calendar. Your outsourced marketing department will include a marketing director, and a host of hand-picked implementation resources from the stellar PSM Team. We organize our implementation strategies around The Four Pillars of Marketing and will likely pursue strategies in each of the following areas: Retaining and Growing Existing Relationships, Attract New Clients, Increasing Name Recognition and Awareness, and Creating Targeted and Effective Communications. See below for more information.
Phase IV – Measurement (Ongoing)
We have years of experience helping services firms measure the Return on Investment of each marketing activity we pursue. We track and measure activities, creating tangible and quantifiable summaries of our results. We know how to measure the success of absolutely every possible marketing activity. Because marketing professional service can be nebulous and intangible, we focus on developing sound measurement tools. Everything you do in marketing is measurable and we know just how to measure results and drive return on your investment!
Implementation Using The Four Pillars of Marketing™
Client Satisfaction – Describe the objectives you have regarding how you will ensure your clients are satisfied with the delivery of your services (conduct a client survey, schedule client interviews, send end-of-work surveys)
- Client satisfaction surveys and interviews
- End of case surveys
- Focus groups
- Client satisfaction training for staff and professionals
- Implement web-based survey tools
Client Service – Create an objective that defines your continued approach to serving your clients (new client intake, ongoing client service, rapport building with clients, keeping clients informed, communications via email, voicemail and returning telephone calls).
- New matter reports to track marketing
- Client intake and screening process
- Client service systems and process development
- Client service training for staff and professionals
- Client services best practices
- Development of Client Services Directory for use with employees, clients and the media
Cross Marketing – Define an objective you have related to providing more services to your existing clients, or better communicating how you can serve clients of the firm.
- Identify clients with top cross marketing potential (grid)
- Train associates on cross-marketing
- Incentive program for cross marketing
- Compensation plan consulting to reward results
Referral Source Development – Create objectives around developing your referral sources. How many new referral sources would you like to attract, in what industries?
- Incoming referral tracking
- Outgoing referral tracking
- Proactive and mutually beneficial referral source development
- Maximize referral-based associations
- Training on referral source development
Networking – What is your objective related to how often and with whom you will proactively develop relationships with?
- Identifying opportunities for the firm and individual professionals
- Networking programs for practice groups
- Networking training and best practices
Targeted Business Development – What is your objective in the area of developing relationships with new clients? How many do you want to attract? What industries do they represent? Do you have a sales pipeline?
- Client-specific marketing plans
- Practice group marketing plans
- Individual marketing plans
- Sales pipeline development and implementation
Proposal Development – What objective do you have in the area of increasing your ability to efficiently respond to requests for information about your services?
- Create proposal archive
- Develop efficient proposal response process
- Design professional and visually appealing proposal responses
- Write proposals for new business
Market Research – Define an objective related to incorporating market research into your practice before meeting with a new prospective client or referral source.
- Big opportunity research on companies and people
- Create client dossiers for new business
Trade and Professional Association Involvement – Every professional should be active in his/her industry association (Financial Planning Association or Bar Associations) as well as at least one industry-based association attracting prospective clients or referral sources. What is your objective in this area?
- Assess firm’s involvement and ROI with associations
- Create association strategies to become high profile members by pitching professionals to write articles and speak at upcoming events
Advertising – Are there opportunities for you to cost-effectively use advertising to convey the message of why clients should hire you? Advertising can be cost-prohibitive. Make sure there aren’t better ways to increase your name recognition.
- Graphic design
- Ad placement
- Campaign management
- Style guide development
Branding – Are you satisfied with the strength of your brand? Set an objective to enhance and improve the quality of your brand. Your brand includes your logo, tagline, marketing materials, website and other tangible aspects that reflect the personality and professionalism of you and your firm.
- New logo
- Letterhead, business cards, and identity materials
- New website
- Customized social media headers
- Branding Guide
Public Relations – Tap into the power of the press! Set at least one objective around activities you can pursue to garner positive press coverage for you and your firm. Do you want to draft an article for publication? Be interviewed on the radio? Become a spokesperson for the media?
- News release and media list development
- Story pitches
- Online media kit development
- Ghost-write bi-lined articles
- Position firm and professionals as “expert” sources for the media
- Secure speaking engagements with targeted groups
Trade Shows – You might have the opportunity to showcase your expertise at a trade show attracting prospective clients or referral sources. Create an objective for this area. Join an association, become a high profile member, and consider a presence at the organization’s annual trade show.
- Trade show booth
- Soliciting presentations
- Networking guidance
- Follow up strategies
Community Involvement – Being an involved and active member of your community is an excellent way in which to build your reputation and increase your name recognition. Create an objective surrounding your current and future community involvement.
- Board and volunteer placements
- Promotion of activities on website and in communications
- How to maximize board involvement
- Leveraging pro bono activities
Social Media – LinkedIn, FaceBook, blogs – – what’s a person to do? One thing is for sure, social media is here to stay. Your marketing plan wouldn’t be complete without setting an objective in support of how you plan to engage in social media to build your name recognition and enhance your thought leadership to a very targeted group of prospective clients and referral sources.
- Individual LinkedIn profile creation and enhancements
- Develop company pages on FaceBook, LinkedIn, Twitter, YouTube
- Develop blogging program
- Create monthly posting calendar for the firm and attorneys
- Manage engagement on social media
Client Communications – Set an objective around doing more communications with your target audiences. What do you want to communicate, to whom, and how often? Make your communications relevant to specific audiences versus too general.
- Develop e-based communications
- Firm announcements
- Ongoing firm-wide communications
Marketing Database – Can you easily and effectively communicate with your clients? If not you might want to create an objective around creating and managing your marketing information. Look into tools like Highrise, Constant Contact, and Campaigner.
- Implement marketing Contact Management System
- Implement communications database like Constant Contact
- Manage marketing database/CRM
- Run reports for marketing purposes
- Track and report on open rates of email campaigns
Website – How is your website? Over 85% of prospective clients will check you/your firm out online. Set an objective to create or update your website this year!
- Website strategic planning and site map development
- Copywriting with focus on key word research
- Website design and technical development
- Integration with social media
- Website promotion and communications
- Managing and updating client websites
Client Events – Interested in bonding with your clients, contacts and referral sources? Consider hosting an event and create an objective in this important area!
- All details including venue selection, catering, entertainment, speaker lineup, invites, promotion, and follow up
- Firm seminars
- Client events
- Employee events