Effectiveness - the only route to survival
On 10 September, the PM Forum welcomed 150 professional services marketers and managing partners to London for its Annual Conference. Claire Hatton, Business Recovery Group Marketing Manager at Numerica, reports.
ACHIEVING EFFECTIVENESS THROUGH MARKETING METRICS
First speaker of the day was former Watson Wyatt Worldwide European Strategic Marketer Bob Weare, who reminded delegates that when firm revenues are under pressure, fundamental business issues can be addressed through strategic marketing planning, aligning marketing objectives to business objectives.
Proven classical marketing approaches such as measuring total marketing investment together with the adoption of buying behaviour aligned models will ensure that a firm benefits from maximum efficiency from expenditure and maximum effectiveness in getting its message across.
SEEKING THE RIGHT BRAIN APPROACH...
Having set a platform for strategy, PM Forum tasked Eversheds' Marketing and Business Development Director Richard Oakes and PwC Head of Business Development (North) John Timperley to define the role of thought leadership in a professional services firm.
The duo determined that thought leadership ultimately must be driven by a clear vision. Successful organisations have clearly defined objectives and goals, transparent to all stakeholders both internally and externally. Unfortunately leaders of professional service firms tend to be 'left brain', logical thinkers. So they posed the question, how can a professional service firm be creative and stand out from the crowd?
A clear vision must be accompanied by a firm-wide integrated approach to communicating brand values both internally as well as externally. Clarity of vision will inspire innovation in new product development and client focus. As a result marketers will be able to set truly SMART goals.
MARKETING THE 6TH 'P'
To enable thought leadership, you need a motivated workforce. Friedlander Sachs Vice President, Mark Stewart educated the audience in the importance of investment in the employer brand. Mark presented statistical evidence to suggest that the majority of people do not just come to work for the money. Employees researched, said that they would rather work for a company with an excellent reputation, even if they were offered a lower salary. To inspire, maintain and grow a culture that communicates transparently both internally and externally, marketers should work closely with their HR Departments.
AND WHY EX PWC STRATEGIST, GEOFF DODDS REALLY DOES LIKE MONDAYS!
Lloyds of London Head of Worldwide Brand Strategy and the man behind PwC Consulting's short lived Monday brand, Geoff Dodds, explained that the route to effective brand building is through understanding and meeting the expectations of organisational stakeholder relationships with the brand. On the Monday launch, Geoff said that it was a brave move for an audit firm whose brand was built around steadiness and reliability, that required dedication and commitment to make the brand work. From launch to closure, the Monday brand lasted four weeks. The jury's out on the success of this venture!
Clifford Chance Global Head of Public Relations and ex Andersen Joint Global Head of PR, Anne Groves spoke of using PR internally to drive loyalty and a sense of common purpose and externally to communicate brand image and values. In Anne's experience, programmes of consistent and regular messages, measured by ongoing media and audience research, help maintain goodwill towards the brand through good times and bad.
AND THEN THERE WAS THE CLIENT...
Following a presentation by Kate Fleming of business consultancy Ridley Fleming on the role of business development and the management and recording of referrals, founding partner of The Pace Partnership, Paul Denvir reminded the audience that Client Relationship Management is more than about investing in an out of a box solution. Marketers should put the customer back into Client Relationship Management. As well as finding the right system, firms should also invest in culture, skills and process development.
Shamrock Marketing's Hilary Warren added that to be truly successful in Client Relationship Management a firm must be ruthless in maintaining integrity of data. Marketers must have full control of firm data and the ability to manipulate it. Marketing efficiency and effectiveness results from quality of data, not quantity.
The day closed with a panel session where delegates were given an opportunity to discuss the themes of the day. The closing reception was enjoyed by all.
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