As a marketeer, the phrase “my firm is busy, we don’t need marketing” is something I hear all too often. In some cases, the firms I speak to may be right, but these are very few and far between, so let me pose some questions if this statement resonates with you:
Are you busy doing the right work?
So often we become busy fools. We take on work at less than we ought to because of that nagging fear that we just cannot turn work away. (I am sure Vanessa Ugatti would have something to say on this). Imagine having less work at a higher value? This is why you should market yourself! A case study for this is when I worked in-house at a regional firm in conveyancing, I knew I charged £100 more than my competitors, and that as I result, I needed less work than them to make money for the firm. Less busy, less stress – wouldn’t everyone like to work like this?
What is the future for your business?
Ok, so you are busy, can you not recruit? Do you want it just to remain the size your firm is, or do you want to grow? Knowing the business plan for your business will help you with the decision on whether you need to market. In the UK, an employee within the accountancy or legal sector generates between £80-100,000 of revenue, isn’t it time you recruited? Did you know, marketing can help you recruit top talent? By raising your firms’ profile, applicants will more likely apply to work at your firm.
What happens when you are not busy?
We all know that you should market when you are busy so that you are never ‘not busy’…. Why then do so few firms do this? It can take 12-18 months to see an impact from marketing activity due to the distressed nature of the purchase (you cannot make someone need a lawyer or accountant). How much income will you lose in the months when you are marketing but aren’t busy?
Do you know what marketing is?
So often we can spend the first year of working with a client improving conversion rates and cross-selling, that there is very little ‘external marketing’ needed as part of this process. There is a mountain of value in your firms’ client base, which is very often untapped. If we take law as an example and conveyancing, if a business generates £1,000,000 in conveyancing fees there is a high chance there could be a potential £250,000 in private client work (Wills/LPAs, etc.) waiting to be taken.
Did you know, you do not have to ‘do’ much?
As part of working with an agency, your involvement in the activities can be limited to how much time you have. So long as you have a business plan, an agency should be able to create a marketing strategy and action plan with minimal interaction from you. So what is stopping you?
You are busy…. what message does that send to your network?
You have no digital presence, and you aren’t regularly communicating with your clients because you are ‘busy’. When your clients next need an adviser, will they automatically think to come to you or refer someone else to you? No, as you will not be forefront in their minds as you have been too busy to market….
If you are busy and you need help to keep it that way, why don’t you give us a call on 01903 530787, contact us below, or book some time with Lara Squires to see how we can help you?