Barbara Walters Price

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!

Marketing/Business Development: Focus on the Top Three

This was a short article I wrote and published in the American Society of Appraiser's BV E-Letter, Issue 12-45, November 5, 2008. 

In today’s uncertain economic climate, where can marketing dollars and effort make the greatest impact now?   Focus on the top three: 

1. Stay close to your clients and referral sources.  Business is about relationships.  In times of economic uncertainty, communicate personally.  When was the last time you reviewed your client and referral source list?  When was the last time you picked up the phone to call?  If it has been a while, stop what you’re doing and plan to make at least 3 – 5 calls every day (e-mails don’t count).  Prioritize your top referral sources and clients and contact them.  When possible, plan in-person visits.  Seek to develop a deep understanding of your clients and referral sources including what they need, not just what they want.  Plan to spend a minimum of 2 – 3 hours per week on this activity.  This translates into only 100 – 150 hours per year yet will yield immense results in terms of retention, satisfaction, and revenue.
2. Expand your network.  Networking is always important.  Expanding your network is more important now when personal relationships are essential.   Focus on where your key clients/referral sources are and go there.  Remember that effective networking is not about getting.  It is about giving.    Zig Ziglar’s famous quote is true:  “You can get anything in life you want if you help enough people get what they want.”
3. Communicate consistently with useful and actionable information.  People are inundated with information – most of it bad.  How do you cut through the clutter?  Now IS NOT the time to abandon those communication vehicles (print newsletters, e-mail missives) that your market has come to expect.  Now IS the time to make the content simple and focused on useful and actionable information.  Be a problem-solver for your market and they will call you.  Right now, try not to send anything theoretical proving how smart you are.  Instead, provide solutions.  If you use a pre-packaged newsletter, demand content that is on-point and of immediate use to your target market.   Every firm should have an e-mail newsletter (either in addition to or instead of) a print newsletter.

Are there other marketing and business development initiatives on which to focus?  Sure.  However, in my experience, if you spend time on these three, you will weather this storm.

How To: Newsletters

In the airport waiting for my flight to take me home. Another Q&A from yesterday's session:

Q: How do you make newsletters a reality in a firm and how do you get good articles if you are authoring them yourselves?

A: Re the first part of the question, people want to believe there is a magic system or template for commiting to publish a newsletter consistently. Yet the truth is there is no system. You just have to decide to do it and continue to make that same decision every quarter - every time you publish a new issue

To address the second part of the question, getting good topics is not that hard. Hold a quarterly topic meeting with your analytical staff where you vet topics and refine the scope of the articles. Then, before you leave the meeting, know who will be responsible for which article and the deadline for completion. If you do this, you'll be successful.

Do As I Say, Not As I Do

Just finished a speaking engagement at the 2009 AICPA/ASA BV Conference in Las Vegas. I was a co-presenter (with Kevin Yeanoplos) on the topic of BV practice management and marketing (I handled the marketing topic).

As part of my handouts, I included 50+ pages of articles and blog posts. Then my husband, who is with me at the conference, reminded me that I haven't posted in a good loooooong while.  So, I'm back.  I'll be posting about various marketing techniques that the attendees found helpful. 

I'll also be posting about the Q&A.  Let's begin here:

Q:  Instead of a quarterly newsletter to reach your target market consistently, what do you think about producing a webinar quarterly and sending a link to it to your target market.

A:  Oooo, what an interesting idea.  I have to confess that I've never thought of that.  Maybe because webinars, while they can be very productive and useful, are a pain huge commitment of time to pull together professionally.  For the vast majority of firms, I would recommend sticking with a newsletter in order to assure consistent communication.  However, put webinars in your marketing toolbox.  If you're interested in how to put a webinar together, e-mail me at [email protected].