How Small Professional Services Firms Can Blend Marketing & Operations To Maximize Revenue
Marketing isn’t a dirty word.
But a lot of financial advisors, attorneys, CPAs and other local professional service firm owners act like it is. When they hear I’m a marketer, they quickly respond with something like “I don’t need to do marketing, my business is referral-based.” It’s as if they find marketing objectionable.
That’s when I take a moment to define for them how I see marketing, and how it even can be considered an operational function.
Instead of marketing, let’s call it revenue generating activities
When you have operational processes focused on generation revenue, you can:
- Attract more ideal clients
- Increase the longevity of a client relationship
- Increase the amount and/or frequency of purchases
- Predictably generate business from referrals
Here are 3 ways to create operation processes designed to generate these types of outcomes:
1: Communicate your positioning internally
Make sure every member of the staff understands what makes your business different from the competition.
This means everyone is on the same page about the market positioning and growth priorities of the business. It also means it’s easier to have everyone play a role in the business’ growth in whatever way they can.
Plus, it helps staff claim ownership of revenue generating activities when they understand their overall impact on the business.
2: Pay attention to your onboarding process
The first hours, days, or weeks with a new client can have a big impact on that client’s future relationship with the business.
Harvard Business Review reported that effective client onboarding can result in more than 20% higher client satisfaction with a business. It also has be proven to reduce client churn by as much as 70%.
3: Programmatically overdeliver
Consistently delivering great client experiences can directly lead to an increase in revenue.
This doesn’t need to be complicated, but it does need to be perceived as going above and beyond client expectations. It also needs to be universally applied to all clients. Simple gifts, unsolicited acknowledgments, or unexpected perks can go a long way to keeping clients around longer, spending more, and referring others.
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