Our digital marketing world is in transition, more like a revolution, and measures need to be taken to address this changing world. Consider these facts:
- PricewaterhouseCoopers LLP (PwC) reports “Transformational challenges reflect a more digital world”
- 80% of polled firms of firms see digital strategy as critical
- 82% of polled firms understand need to employ new ways to interact and improve client experience
- 23% of polled firms did something about it
- Hint: You don’t want to be a part of the 77% that do nothing
- 23% of polled firms did something about it
- For businesses of all shapes and sizes, the power in the buying and selling process has shifted from the seller to the buyer.
- This shift of power in the everyday consumer experience is driving dramatic change and shaping expectations.
- A alternative product or service is only a click away
Consider yourself when you last researched and make an online purchase. Likely a very different process than in the past, and you can have almost immediate access to the order and accompanying information.
- When is it shipping?
- What is the tracking number?
- When will it arrive?
- How did I pay?
Again, information at our fingertips, from mobile devices, anytime, anywhere. Social media changes the way we communicate with each other, giving us instant access to information and the status of our friends and co-workers.
These same people who buy and socialize online make up a substantial portion of your client base. Not only have their expectations for access to information changed, but now an individual has a loud voice, with a big audience, and can make a very big splash, very quickly.
Think about this. Changes in our daily social and mobile interactions have completely impacted our human behaviour, our communication methods, our engagement principles, our belief and trust systems, and even our decision making criteria. The changes even impact how we act, and actually carry out those decisions.
The McKinsey Global Institute report on the potential impact of social technologies in four major industries, including professional services, says:
- “With social technologies, firms will build up knowledge of their clients’ processes, working styles, and industries. All of this information contributes significantly to the total amount of value a firm can create for its clients”
- {Source: The social economy: Unlocking value and productivity through social technologies}
Facts: Social and mobile are changing client and employee expectations
- >1.7 billion social users
- >400 million tweets per day about product, services, and brands
- >6.8 billion on mobile
- 150 = the average number of times a “digitally engaged” person checks their phone or mobile device each day
Facts from the Professional Services Vertical: The Bloom Group conducted a research report around social media and among the most important lessons learned, was this:
- “The most effective professional service marketers use social media differently than the least effective marketers do.”
- The marketing leaders are much more likely to train their professionals about how to use social media as a marketing tool.
- They are also more likely engage in online dialogue with prospects (not just promote content).
- What’s more, the leaders make much bigger investments to develop thought leadership content, which presumably gives them more and better material to promote via social media.”
- The vast majority of firms, (87%) are using LinkedIn to market their services;
- About two-thirds (68%) promote themselves through Facebook; and
- And a little more than half (54%) use Twitter
But what do “buyers”, or those looking to hire service firms think of social media use?
- ResearchNow surveyed 218 executive buyers to take a separate survey on how they use social media to find and evaluate consulting firms…
- Their answers revealed that although social media may not be their most important tool today for finding a firm, comments they find in social media about firms do have impact – especially if they’re negative.
With research results like this, it is no wonder that companies are doubling down on their efforts to take control of their digital experience to shape client perceptions and experiences. Organizations need to understand these new principles and adopt them, genuinely and proactively, if they want to effectively engage clients and their employees from millennial and digital generations.
Those companies that successfully adapt to the reality of the market will succeed, while those which don’t will fall behind.
ProfessionalWORX “reason for being” is to assist firms in addressing these transformational challenges head on. From our perspective, the three most important takeaways:
- Buyers have all the power, and are using it to pre-qualify potential sellers;
- An integrated email marketing, social interaction and web strategy is critical; and
- Businesses that do not evolve with this digital transformation are at risk.
Our business was founded on the premise of saving professional service firms time and money while providing a platform for consistent communications with clients, prospects and referral sources. Send us your comments below or contact us here for a discussion on how we can help you execute a consistently consistent approach to marketing your firm in the digital world and support you in growing your business.