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In this issue of our newsletter, we share early data from our survey on professional services marketing through the downturn, celebrate the 10th anniversary of The Experience Economy, and discuss a case study that explores some of the keys to developing an article worthy of Harvard Business Review.
Marketing Through the Downturn
While our research on this topic is ongoing, we have some early results to share about the changes to professional services marketing resulting from the downturn:
- Lead generation trumps the brand: 61% of professional service marketers say lead generation is their highest priority in 2009, versus 53% in 2008. This increase has come largely at the expense of building brand awareness.
- Right targets, right content: Targeted direct marketing campaigns and development of new points of view were cited by the greatest percentage of people as “extremely important” marketing activities. And thought leadership? It's more important now than it was last year.
- Pessimism still rules: The vast majority of respondents believe the downturn’s impact on their business will not abate until sometime in 2010—with 35% thinking it won’t be until the second half of the year.
Proof Point: The Power of Compelling Content
One of the biggest drivers of growth in professional services is compelling content: novel and powerful insights that attract executives' attention.
A great example is The Experience Economy: Work Is Theater & Every Business a Stage, a ground-breaking book that celebrates its 10th anniversary in April and continues to generate substantial interest among business leaders everywhere. Read more here.
Developing an Article for HBR
A partner at a large professional services company believed he had a point of view that would make a good piece for the Harvard Business Review.
Read our case study on how this consultant developed an article that met the stringent requirements of the preeminent management journal and ultimately helped generate several million dollars in new consulting business for the author's company.
White Paper Preview: Creating a Compelling Messaging Deck
Competition is fierce for professional services, especially in a difficult economy. That's why it's critical for any firm to have a market position that clearly and consistently communicates the following:
- What business problem the firm solves
- For whom the firm solves it
- How the firm solves it
- The benefits and value of the firm's approach
- How the firm's approach is better than other approaches
A formal messaging exercise can help an organization hone their market messages in these five critical areas and, subsequently, have richer and more fruitful discussions with prospective buyers. Watch for our full white paper on this topic in our next newsletter.
Alterra Group helps its clients create thought leadership marketing: campaigns that demonstrate relevant, differentiated expertise on pressing business problems.
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