Five Forces Influencing Your BVFLS Marketing in 2020
Opportunities Available to Drive Revenue and Remain Relevant
Q1 2020 is already in the books. If you are thinking about your practice development goals, strategies, and tactics for the rest of the year, Rod Burkert has some ideas regarding what to do and identifies the opportunities associated with five options.
Hard to believe that Q1 2020 is already in the books. And you might be thinking about your practice development goals, strategies, and tactics for the rest of the year.
What we can achieve (goals) and how we achieve it (strategies and tactics) will be affected by forces that influence our BVFLS marketing. And that landscape is changing. Look, change is inevitable. It is also uncomfortable. So while itâ€™s inevitable that weâ€™ll be uncomfortable, itâ€™s also inevitable that weâ€™ll have opportunities.
As we stand here today, this is my assessment of the five forces influencing our marketing realities and the opportunities they present for us.
- Itâ€™s Still All About Know, Like, and Trust
You can only make sales offers for your services that are in proportion to the buckets of know, like, and trust that you have earned from your prospects, clients, and referral sources.
Opportunity: You get people to know you by writing, speaking, using social media, and showing up in person. You get people to like you by being likableâ€”so share glimpses of your personality and interests outside of work. You get people to trust you by showing up consistently, providing valuable content/advice, and performing stellar work.
- Where You are is Much Less Important Than Who You Are
In todayâ€™s digitally connected economy, how do we compete in an environment where our leads, prospects, clients, and referral sources can come from anywhere in the country, or the world for that matter? And where the same can be said of our competition? As Hinge Marketing writes: â€ś[C]lients are getting more comfortable with the idea of working with the best firm for their needs, regardless of where that firm may be located.â€ť
Opportunity: What tools and technologies can you take advantage of that would make it easier for your leads, prospects, clients, and referral sources to get to know, like, and trust you more, sooner? Take advantage of the resources that take advantage of your strengths.
- How Buyers Search for Experts Like Us is Changing
Research shows that about 30 percent of buyers of professional services find experts like us online. Further, it is estimated that 50 percent of all online searches will be performed with voice search (using devices like Alexa) in 2020. As a result, buyers of our professional services are gaining more control over our practice development process. And online search will become even more popular as more Millennials make more hiring decisions because they are the generation most comfortable with conducting their investigations online.
Opportunity: First, where and how do you show up online? If you lack a compelling online presence, you may as well not exist. Second, it may be time to make friends with younger referral sources. If you still have a bunch of years left in the profession, but all of your referral sources will soon be retiring, your connections to them will be retiring as well. Third, boost your potential of being found with voice search by adding a FAQ page to your website. Having a series of questions that are written in the language your audience uses to find/work with someone like you will give you a better chance of matching up with the questions theyâ€™re asking via voice search.
- Your Website is the Hub for All That You Do
When visitors land on your firmâ€™s website, is it clear/obvious what you do, what problems you solve, and what solutions you offer? And just as important, is it clear/obvious what your visitors should do next? Because a confused mind wonâ€™t navigate your site, contact you, or buy your services.
Opportunity: The days of â€śset it and forget itâ€ť are gone. Your website should be a dynamic platform for showcasing your firmâ€™s work with clients. Are there case studies, testimonials, or other resources and references that tell prospects you can do what you say you can do?
- Specialists Will Rule, Generalists Will Drool
People want to hire experts like us because we have a history of solving problems like theirs, multiple times, successfully. Period. If someone hires you for any reason other than your expertise, you will compete based on price. And a cheap expert is an oxymoron.
Opportunity: Specializing in one or two practice areas or industry niches can raise your visibility, keep you from chasing down projects that are not in your wheelhouse, focus your CPE dollars and efforts, and streamline your marketing time and energy.
How Do You React to This?
Effective marketing isnâ€™t easy. I think the secret sauce behind any successful marking plan is showing up â€¦ even Woody Allen said so. Consistently. Also, a successful marketing plan isnâ€™t just about doing one thing â€¦ itâ€™s about doing several things. Persistently.
So, where and how often (strategies) are you showing up? What things (tactics) are you doing? Remember, small daily wins, when done over the course of the year consistently and persistently, will lead to phenomenal results. Itâ€™s how you build a thriving practice.
Many BVFLS practitioners hit a time and income ceiling and not make the money or have the impact they are capable of. They get stuck in â€śsurvivalâ€ť or â€śstabilityâ€ť mode â€¦ treading water and feeling frustrated by their limitations. If you are feeling that way and want to grow faster and more effectively, e-mail me at email@example.com.