BWPrice's Marketing U

Two New Articles Added

Two articles have been added to the "Complimentary Articles" section of this blog.  The first was published in June of 2008 (yep, I'm behind) and it is entitled "How to Develop & Manage a Niche."  The second was published this month and is entitled "Social Media: What Is It & Should You Care?."

Both articles are addressed to business appraisers.  Other professional advisors to business can certainly benefit as well.

They were both published in CCH's Business Valuation Alert newsletter.  Hope you enjoy them.  You can find them in the "Complimentary Articles" section of this website.

We Are Testing Website Pop-Ups

For professional services firms, content is an important marketing tool.  Articles, white papers, e-books, powerpoint decks, podcasts, etc. can convey expertise.  At Mercer Capital, my firm, we have four e-mail newsletters that contain very useful content for their target markets. They are free, or complimentary, as we say.  Two of those newsletters have fewer subscribers than we would like.  Add to that the marketing engine which is our website - one of the most visited, if not the most visited, sites in our profession.  The question was and is how to use our website to convert visitors into newsletter subscribers?   While we have "subscribe to our newsletters" on every page of the site, that isn't getting the job done. 

We are experimenting with a pop-up.  The pop-up asks the visiter if they have subscribed to our newsletters.  To keep the pop-up from being absolutely annoying, it does not pop on the home page (only on the interior pages) and only appears once as you navigate throughout the site.  While nirvana would be different pop-ups for different sections of the website (a BankWatch newsletter pop-up that appears when visiting our financial services valuation section, a Financial Reporting Valuation Flash newsletter pop-up when visiting our financial reporting valuation section, etc.), that isn't feasible for our site and our budget. Therefore, the pop-up is general in nature and takes the visitor to a landing page which lists all our newsletters.

We launched the pop-up three weeks ago.  So far, we're seeing an uptick in our newsletter subscriptions.  How much of an up-tick is yet to be determined.  I'll report back. 

If this works for us and if your site can support it, it might be something to consider.  It might also be a way to differentiate you from your competition.  As far as I can tell, we're the only firm in our profession with this type of functionality on our website.  Visit our site (www.mercercapital.com) and click to one of the interior pages and tell me what you think. 

New Words Get New Results

A friend sent this to me today.  After a bit of research, I find that it's been around for a few years at least, although I can't precisely pinpoint its original author or publication date.  If you know, let me know and I'll provide the appropriate credit.  In the meantime, enjoy.

One day, there was a blind man sitting on the steps of a building with a hat by his feet and a sign that read:

"I am blind, please help."

A creative publicist was walking by and stopped to observe. He saw that the blind man had only a few coins in his hat. He dropped in more coins and, without asking for permission, took the sign and rewrote it.

He returned the sign to the blind man and left. That afternoon the publicist returned to the blind man and noticed that his hat was full of bills and coins.

The blind man recognized his footsteps and asked if it was he who had rewritten his sign and wanted to know what he had written on it.

The publicist responded: "Nothing that was not true. I just wrote the message a little differently." He smiled and went on his way.

The new sign read: "Today is Spring and I cannot see it."

Learning what to say changes everything.

Business Valuation Newsletters

Not too long ago, I received an e-mail blast from the good folks at Business Valuation Resources about their BVNewsletter Service.  I mentioned them, along with another newsletter service provider, in my recent AICPA/ASA speech. 

To refresh your memory, I believe in sending useful content to your target market on a consistent basis.  One of the best ways to do that is via a newsletter.  Newsletters aren't a new idea. They are not "sexy" or cutting edge.  What they are is effective.  I'll take that any day.

For business valuation firms or business valuation divisions of larger CPA firms, there is good news.  According to the recent BVResources 2009 Business Valuation Firm Economics & Best Practices Survey, only about a 3rd of their respondents published a newsletter (36.8%).  Approximately 20% reported publishing an e-mail newsletter or blog, yet I suspect there is not much cross over with those who publish a print newsletter.  That means that there is an opportunity to begin a newsletter program and gain ground sooner rather than later because the market is not crowded with newsletters.

Here are the two service providers you should consider.  Note: I have no financial interest in recommending either of these service providers.  This is for your information only.

How To: Newsletters (Part II)

From the comments of Debra Helwig of IGAF Worldwide, one of the smartest ladies I know, on my post on how to make newsletters a reality at your firm:

On the idea of generating newsletter articles, I encourage firms to think differently about WHO should be writing. In so many cases we think about articles solely as a spotlight for the partners - BUT, partners often are busy and don't want to write. What about the lower level professionals in the firm who are looking to get their names out there and differentiate themselves both within the firm and in the marketplace? They may need some coaching, but as content providers they may be more reliable. This "bottom up" mentality will eventually help the partners get committed as well, because as lower level professionals move up in the firm they'll take the writing habit with them.

Thanks Debra.  Great advice!