Best Professional Service Marketing Strategies
April 26, 2013
As service professionals, we tend to rely more on our experience and intuition than objective research. This really isn’t surprising: few of us have the resources to undertake serious research. For most of us, our research is seldom more than a quick scan of blogs and online posts.
Whenever I come across some sound research that is interesting, and even better, relevant to my work, it’s definitely worth a serious review.
Yesterday this happy circumstance popped up on my computer screen.
Marketing Trends And Strategies For Consultants
Marketing trends and strategies for consultants surveyed the types of marketing activities on which consultants spend their time. It also compared how the time spent resulted in income. If you are serious about marketing more effectively and efficiently, this report is a must-read.
From my perspective, the most reassuring finding of the report confirms several of my experience and intuitive based beliefs.
I have always believed and continue to believe that networking and referrals are the two best marketing strategies for service professionals. The survey results indicate that 70% of the respondents report these two strategies have made the most money for their businesses.
Time & Money Spent
Given the importance of these strategies, it’s not surprising that the respondents also report spending 57% of their time on these activities. Obviously, it makes sense to spend most of your marketing time on those activities that generate the best results.
There are a couple of other interesting findings.
The report indicates that the third highest amount of respondents’ time is devoted to the marketing activity that is the third lowest money-making strategy.
In numerical terms, 10% of the respondents spend the most time on social media, which only 2% of the consultants report as having generated the most money. Not sure about you, but I’ve come to believe that social media can consume a ton of time while generating generally unsatisfactory results.
The survey also asked about money spent on marketing each year. Once again, no big surprise here.
Of the more than 10,000 consultants surveyed, 78% reported spending less than $6000 each year.
Regardless of whether or not you are a consultant, the same considerations apply to your marketing.
How can you spend your marketing time and budget to generate the most money for your business?