Tag: marketing - Page 17

As digital technology continues to transform the ways in which industries work globally, we must keep up with the emerging trends. Professional Services are no exception to this. As an industry that has traditionally flourished off old fashioned marketing techniques such as: Relationship Marketing, Traditional Marketing Channels and Telemarketing, these firms have been forced to modify their marketing schemes to fit the more effective and modern marketing techniques. In the ever expanding digital world, having an effective digital strategy will not only establish your firm in the competitive online landscape, but also allows you to build a strong impression and relationship with prospective customers and clients. 

Marketing strategy scholars have contended that dynamic capabilities such as adaptability, integration, and deployment of organizational capital assist firms in becoming more aligned with their evolving business environments. With its ability to provide a source of competitive advantage, marketing strategy substantially influences market performance.

Marketing strategy is a construct that provides clear, realistic, and measurable marketing objectives. It is essential to the practice of marketing.

Continue reading to find out 5 key ways marketing strategy adds value to your professional services firm: 

Content Marketing is a strategic marketing approach, of which is predominantly seen on digital platforms. The strategy is focused on creating and delivering content to attract their specific audience, which also improves SEO scores. For financial sectors, this strategy plays a critical role in the digitisation of their growing online market across Australia. However, with a decline in customer trust levels to 49%, the financial sector has become Australia's second least-trusted business sector. To redevelop these relationships and trust, the sector must reinforce a "customer-centric approach" to increase their brand credibility. Here are three key ways financial firms could benefit from using content marketing to their advantage.

Instagram was launched in 2010 by Kevin Systrom and racked up 25,000 users in just one day. The app began with a primary focus for users to feature and post photographs, especially photographs taken from mobile phones. Instagram performed exceptionally well and had a whopping 27 million users by March 2012. Instagram’s success no doubt alarmed Facebook, which purchased Instagram in April 2012 for $1 billion in cash and stock.

Ever since Facebook acquired Instagram, Facebook decided to add many different features to the already extremely popular app. These features included enabling users to post videos instead of just photographs as well as adding messaging on Instagram like Facebook, stories like Snapchat and later reels like TikTok. Maybe you’re already sensing a theme here but what Facebook was essentially trying to do is turn an originally user-focused app that was Instagram into a fighter social media platform to compete with other social media apps such as Snapchat and Facebook. This tactic worked well for Facebook initially but not in the long run. Why you may ask, well we’ll explain below.

Reflecting back on my time as an intern at Marketing Eye, I am incredibly grateful for the knowledge and skills I have obtained from this journey.

Before Marketing Eye, I had worked under one other marketing internship position. Although the titles were very similar, the work was vastly different. My role at Marketing Eye pushed me to work individually and hold greater accountability for my work. My greatest challenge initially (as my supervising marketing executives can attest to) was finishing my tasks within the recommended timeframe. Previously, I had worked in a team to complete a blog post and we were given several days. However, Marketing Eye pushed my ability to complete blog posts by myself, within at least a day. Initially, I could not comprehend finishing a blog post within a couple of hours as I would agonise and perfect each sentence as I went; making sure that each line was perfect. 

I eventually learned that this is an ineffective way to approach my tasks.

Marketing within the finance sector can be complex due to the heavy regulatory and compliance factors involved when handling such products. As the COVID-19 pandemic has proven, financial services are essential for all individuals, no matter what walks of life they may come from. However, such a necessary service can come with difficulty for businesses to differentiate their own service from others.   Therefore, it is of utmost importance for financial service firms to have strong impactful marketing.  This is especially important when taking into account the digitalization of customer interactions. 

Read on further to learn about 5 proven digital marketing strategies which are effective for financial service firms.

There are no two ways about it. Email marketing is one of the most popular, cost-effective and highest performing marketing channels currently available. A recent eMarketer study shows that the average ROI of email marketing is 122%. The ROI of email marketing is approximately four times higher than its next closest competitor. Every study shows us that email marketing is performing well and looks to remain the case for years to come.

While a marketing consultant is not essential to the success of your business, employing one with industry experience will certainly help to streamline a company's marketing efforts. Employed as an external advisor, a marketing consultant will bring their expertise to your business to plan and execute proven marketing strategies. A consultant understands the customer's unique needs, analyses market insights, processes and issues. All this garnered information is combined with their knowledge to suggest and apply solutions that will improve your company's marketing efforts. 

Lead generation is the process of attracting prospects to your business and increasing their interest through nurturing, all with the end goal of converting them into a customer. Lead generation plays a pivotal role in the success of professional services firms looking to grow through 2022; therefore, professional firms should not overlook its importance. Below are five ways that professional services firms can improve their lead generation capabilities.

Professional services firms encompass a far broader range of functions including marketing and recruiting, who often have the liberty of embracing differentiation and diversity from their competitors. Yet, when the words ‘professional services’ are thrown around, they usually bring to mind an amorphous mix of accounting, legal, management consulting and financial planning firms.

The reason that this mental melding takes place is due to the desire of professionals services firms to shy away from the crowd and attempt to blend in with their competitors.

This takes place because: