Society of Chartered Surveyors

Transcription

1 Society of Chartered Surveyors Business Development 9 th May 2013

2 What I don't know about property...

3 I know more about marketing

4 We help our clients improve their marketing performance. Specialise is Professional Services

5 Agenda 1. Overview - 6 principles of PS Marketing 2. Focus on three strategies New Business Existing Clients Brand

6 More action than theory (Discipline, commitment, hard work)

7 Theory - 6 Stages of Business Development Brand Brand Courting Nurturing New Clients Existing Clients Superpleasing Brand Broadcasting Listening Brand

8 6 Stages Broadcasting Attracting new enquiries Starting conversations Demonstrate competence Courting Chasing a single prospect Convincing him that you are the right fit Nurturing Identifying new needs Cross selling Listening Monitoring performance Predicting needs Superpleasing Delighting clients Secure future work Generating WOM referrals Brand build reputation, practical innovation, awareness and trust

9 Substantial work in each strategy Ultimate goal is to progress all 6 6 spinning plates

10 Practical Obstacles (not conceptual) Start and stop caused by client demands Too much choice LinkedIn, networking, newsletters, articles, Twitter, seminars,, branding, playing golf, blogs. Some people involved, others not at all. Biggest barrier is the day job

11 Solution is to choose a small number of the most effective activities and do them consistently CJ Hayden Get Clients Now

12 Return on Investment Existing Client Prospect Client Need Identified Superpleasing Highest ROI Courting Need not Identified Nurturing Broadcasting Lowest ROI Source: David Maister

13 Logical Sequence Max ROI

14 Practical Focus Superpleasing Broadcasting Brand

15 Superpleasing Existing clients

16 Benefits of Superpleasing Existing client retention (growth potential) Word of mouth referrals The most cost effective form of marketing 80% of new business for many PS firms

17 Did you get good service? Two Concepts Technical Service Servicing the Customer Car Service Spark Plugs, Oil Filters Communication, coffee, money Medical Availability, Affability, Ability (in that order!) Professional Service Property Valuation, Technical spec Drawings Costing Communication, money matters, trust, golden moment.

18 It ain t what you do it s the way that you do it that s what gets results. We experience Professional Service work The Professional Service experience comprises technical work and customer service We need to do good technical work and service the customer to provide a positive experience Satisfaction Equation - Satisfaction = Perception Expectation Good (or even excellent) technical work is expected Servicing the customer has greater potential to affect the customer experience than the technical work.

19 Source of the opportunity

20 Golden Moments Avis Fixing a problem Accountants Find your fee Solicitor - Flowers Chartered Surveyor??

21 Broadcasting Attracting new clients where no need has been declared.

22 Broadcasting what's the goal Getting your name out there? PR? Advertising? Works for consumer brands Tayto great taste Coke will make you happy Red Bull gives you wings

23 Consider the purchaser Ad for Chartered Surveyor firm We are a top Surveying firm with a great team of property experts. We work really hard for our clients. We re in a perfect location and our prices are very reasonable What might a prospect think? Well they would say that!

24 Unlikely to say... Ad for Chartered Surveyor firm We are a fairly ordinary firm. We don't really specialise. Parking can be tricky and we bill what we can get away with. Advertising adds little or no value to Professional Service brands! Consumer brands are used or consumed but Professional Services are experienced

25 What do potential clients need? Relevant competence e.g. Financial world Relevant if I have a serious tax issue you may be the best corporate finance man in town but that's not going to stop the sheriff from knocking at my door! Competence If I could get struck off as a director I need to know that you know your stuff

26 Demonstrate Competence To attract new clients to your firm... You must demonstrate competence to the right audience Advertising asserts but fails to demonstrate and that's why it tends to be ineffective

27 Techniques that demonstrate 1. Proven tried and tested 2. Secondary /Support 3. Clutching at straws Note: everything will work to some extent. So nothing is wrong. If you are doing 1&2 perfectly go ahead to TV advertising budget permitting!

28 Holy Grail Demonstration one on one and face to face is the ideal Not always possible What are the next best things to do? Demonstration face to face but one to many Demonstration but not face to face Judge all activity against the Holy Grail The only person who can sell a PS is the professional Marketing is about creating those selling opportunities

29 Tier 1 - Tried & Tested Small scale seminars Speeches to target industry meetings (not to other surveyors unless they give you business) Article writing in client industry media Proprietary research white papers Forms a great platform for seminars, speeches and articles Practical Innovation

30 Tier 2 - Support Digital Marketing that demonstrate Blogs, webinars, podcasts, social media. Networking with referral sources Community / Civic activity Newsletters Less direct, more time consuming

31 Tier 3 (Clutching at straws) Publicity/PR Brochures Ballroom scale seminars Direct Mail Cold calls /Telesales Sponsorship sports or cultural events Advertising Video Brochures Not face to face & do not demonstrate competence

32 Practical Advice - Focus Spending money on marketing is so easy Lots of ways to spend it and people to take it! Making it work for you is the tricky bit Apply the Raspberry Jam rule The thinner you spread it the less effective it gets Pick a few core strategies and do them well Clients are acquired one at a time Focus on niche audience

33 Identify your ideal target sectors (Maximise client value probability) Ideal Profile What sectors deliver most of your current income? What sectors are growing? What sectors match your core skills? Where are you well connected?

34 Brand

35 The Brand Halo Effect Brand Brand Courting Nurturing Brand New Business Existing Clients Superpleasing Broadcasting Listening Brand

36 Professional Service Brands Typically we think of Coca Cola, Kellogg s, Guinness, Nike, Apple In Professional Services e.g. Accountancy PWC, KPMG, Ernst and Young, Arthur Andersen! In lrish law we think of the top 5 Arthur Cox, A&L Goodbody, MOP, McCann Fitzgerald and William Fry

37 A brand is not a name logo or brochure or a web site a corporate identity What is brand? A brand is shorthand for what your clients think and feel about you What you do, what you re good at, what you cost How you behave, big or small, slick or sloppy. Young and hip, tired or market leader

38 Where do they get these ideas The markets you serve The services you offer The things you say The things you do The people you hire Your clients Your offices The way you dress The people you associate with The way you behave Its all been driven by you Its strategic

39 The importance of brand? Radio News Mary Murphy tax partner of Ernst and Young said... Mary Murphy of Murphy & Co said... Same Mary Murphy different impact Mary Murphy 2 no established credibility Mary Murphy 1 massive credibility Long standing international reputation Built up over many years

40 Benefits of a strong brand 1. More Conversations If somebody needs expertise and you have a reputation in that field they call you. 2. Better conversion rates You never get fired for choosing IBM Why? International reputation for being the best The choice is made easy 3. Higher Fees Stronger reputation commands highest fees 4. Best recruits The best attracts the best

41 First Steps Strategic Decisions What markets we want to serve What services we want to provide What clients we want to work with Who you want to hire How we want to behave ( the Be-attitudes ) Communication Strategy What you want to say How and where you want to say it LAST - What you should look like

42 Problem - Solution Professional Services are a commodity All firms have clients, give advice, work hard, have offices etc How to differentiate your offering? What clients want most? Having chosen your market, selected your services research suggests... Practical Innovation Source: Interbrand

43 Practical Innovation Adding value to your clients and prospects in way that allows you to standout!

44 Brand is too important to leave to marketing Brand = Experience + Expression Marketing can only handle Expression Who determines experience? The behaviour of all members of the firm Who can set the standards based on core values Who can enforce the behaviours that back it up? Starts with the Managing Partner!

45 Summary Theory 6 principles of PS marketing Existing clients deliver higher ROI Superpleasing Servicing the client & Golden Moments Broadcasting Demonstrating competence, relevant innovation Branding what people think about you, PS are experienced - starts at the top.

46 Thank you