Measuring Up in Marketing

1
Measuring Up in Marketing

• Picking, Choosing and Measuring Marketing
  Programs
• Kayte Steinert-Threlkeld
• Whittlesey Hadley, P.C.
• Weinstein Anastasio, P.C.

2
What does it mean ?

• Tracking results of your efforts
• Quantifying, whenever possible
• Qualifying, when quantifying not possible
• Sharing results

3
What can be measured?

• Proposals
• Wins, losses, revenues
• By partner, teams, niches
• By office
• By industry
• Performance vs. previous years

4
What do I learn?

• Rainmakers
• Industry strongholds
• Average size of new client
• Seasonal activity
• Successful fee levels
• Annual benchmarking

5
Audit/ Tax Proposal Log
6
What can be measured?

• New Business
• Wins, losses, revenues
• By partner, teams, niches
• By office
• By referrals

7
New Client Record

• (See Sample)

8
What can be measured?

• Marketing Activity from staff
• M Codes
• Individual Marketing Plans (IMPS)

9
What can be measured?

• Marketing Incentive Programs
• Lead Generation Awards
• Business Development Commissions

10
What is an Individual Marketing Plan?

• Practice Statistics
• Practice Development (firm history, services,
  seminars, client events, et.al.)
• Organizational Involvement
• Business Development
• Referral Sources
• Lead Generation
• Cross-Selling
• New Business

11
What is a Lead Generation Award?

• Recognizes efforts, not results
• 100 for creating appointment between qualified
  business prospect and partner

12
What is a Business Development Incentive?

• Commission on new sales

13
What can be measured?

• Direct mail
• Fax backs
• Response cards
• Returned mail (to validate database)
• Results (if call to action)

14
What can be measured?

• Sales Calls
• By partner, teams, niches
• Wins, losses, revenues
• By office

15
What can be measured?

• Cross-selling/ Cross-servicing
• Client Service Matrix
• Increased Revenues
• Individual activity
• New Client Record

16
What can be measured?

• Publicity
• Press releases distributed
• of media inserts
• Placement of bylined articles
• Coverage translated to Column inches X rate
  per inch value

17
What can be measured?

• Referrals
• To firm from clients
• To firm from referral sources
• From firm to clients
• From firm to referral sources

• Results
• Industry success
• Revenues
• Quality of referral source

18
What can be measured?

• Client Contact
• Client Contact Matrix

19
What can be measured?

• Seminars
• Attendance
• Cost (Facility, Printing, Postage, Time?)
• Feedback
• Publicity
• Leads to Sales

20
What can be measured?

• Client/ prospect feedback
• Survey by mail
• Survey by phone
• Survey on-line via website
• Face-to-face, non-chargeable meetings
• Client Advisory Boards

21
What can be measured?

• Website
• Visits (hits)
• Requests for information
• Registrations

22
What can be measured?

• Marketing Budget
• Build up budget
• Review monthly
• ROI of various activities

23
What can be measured?

• Advertising
• Expenditures
• Placement
• Responses, if appropriate

24
What can be measured?

• Marketing and sales training
• Internal
• External

25
What can be measured?

• Sales competitions
• By teams or industry niches
• Varied goals contacts, direct mail, prospect
  meetings, new business

26
How do I track these activities?

• Excel spreadsheets, the language of the CPA
• Specialized tools
• Client Service Matrix
• Client Contact Matrix
• Proposal Log
• Other

27
Client Service Matrix

• Use with A clients
• Review with client?
• Uncover new service opportunities
• View as cross servicing, not cross-selling

28
Client Contact Matrix

• Use with A clients
• Set client contact goal

29
How do I choose?

• Proposals
• Direct Mail
• Sales Calls
• New Business
• Cross-selling
• Publicity
• Marketing Activity/ Incentive Programs
• Referrals

• Client Contact
• Seminars
• Client/ prospect feedback
• Website
• Budget
• Advertising
• Training

30
How do I choose?

• Cannot track all activity
• Choose programs that you directly manage
• Delegate others (new business reports, sales
  calls)

31
What do I do with this information?

• Monthly report to partners
• Internal newsletter
• Evaluation memo

32
Why?

• Establish your own marketing benchmarks
• Justify investment of marketing
• Justify presence in Firm
• Earn bragging rights

33
Measuring Up in Marketing

• What cant be measured?