Hinge Marketing is a leading branding and marketing firm for the professional services. Their original research on high-growth firms and professional services buyers helps clients grow faster and be more profitable. A recent article I found of theirs prognosticating 5 key marketing trends for 2016 struck a chord, as it is in-line with our thinking and how we have structured our business to serve you, the busy professional services firm.
The core messages are that:
- The landscape for professional services marketing continues to shift. Firms will either need to adapt to the new environment or risk losing their footing in the marketplace;
- At the same time, recruiting and retaining marketing talent properly trained to succeed in today’s dynamic markets and will be expensive and challenging; but
- With challenges come opportunities. Those who remain committed to educating prospects and clients through content marketing will be able to chart a path to growth.
Hinge Marketing: 5 Key marketing Trends in 2016
1) Content Marketing Will Continue to Dominate Professional Services Marketing
Content marketing: newsletter, alerts, blog posts, e-books, webinars, speaking engagements, et al has settled in, made itself at home and is here to stay. Why? Because it is tailor-made for professional services enabling you to demonstrate expertise, be found, and as equally important, as they become familiar with you, their trust grows.
2) The Battle for Marketing Talent Will Heat Up
Competition for marketing talent is heating up. Today, few folks with professional services experience have the most advanced online marketing skills. What’s more, only a fraction of skilled marketers has a solid understanding of professional services.
3) Business Development Is Undergoing a Transition
Today’s empowered buyers want to do things on their terms Because buyers now complete much of their research online before contacting a service provider, the role of business development is changing. By the time that prospects talk to you, they are already educated. It is likely they have considered various options and have a framework for a solution.
4) Traditional Referral Networks Are Degrading
In the past, you could develop a referral network and depend on it for your career. Today, however, two trends are jeopardizing the referral power of long-standing relationships. An average of 10,000 baby boomers are retiring every day. As one senior rainmaker commented, “Lately, I’m going to more retirement parties than networking events.”
5) The Emergence of the New Rainmakers
In the past, Rainmakers worked their networks, schmoozed at business events and lured in the next client. The new rainmakers do it differently. While face-to-face interactions are still part of their success formula, Rainmakers are making their expertise visible online by publishing educational content, and in doing so, broadening their reach and accelerating their ascent.
From our perspective, the team at Hinge hit the nail right on the head with their 2016 predictions.
We would love to talk with you to share our views on marketing in the new digital age. Please contact us here to arrange a time for us to discuss how we can help you grow your business.