Professional Services Case Study
- Average annual customer value went from $30,000 to $51,000, a 70% increase.
- Net promoter scores increased by 30% YoY
- MQLs increased by 135% YoY
- SQLs increased by 96% YoY
- Cost per lead fell from $295 to $596, a 51% cost savings
Strategic Marketing Within The Professional Services Industry
Professional services encompass expert advice and specialized assistance provided by professionals in fields such as law, accounting, consulting, or healthcare. Marketing these services poses unique challenges, including lengthy sales cycles, large contracts, and the involvement of multiple decision-makers, typically ranging from five to a dozen individuals. Within the B2B context, effective communication and expertise are vital, as these decision-makers are still human beings, so they share the same need for communication and knowledgeability as any B2C customer.
Our professional services client, a regional accounting firm with locations in ten states, sought a complete marketing overhaul due to low brand awareness, resulting in limited lead volume and poor lead quality. Despite a notable marketing spend, their efforts failed to reach the right audience and attract sufficient customers, which impacted brand awareness. These challenges, compounded by poor SEO and the difficulty of differentiating in a competitive industry, significantly impacted lead quality, drove up lead acquisition costs, and resulted in low average customer value. Our partnership helped them increase the volume of marketing and sales qualified leads, resulting in lower cost per lead and a 70% increase in average annual customer value.
Here’s How We Did It
We started from the bottom by creating a comprehensive, integrated marketing strategy that covered every stage of the decision-making process, from creating awareness to influencing the final choice. This strategic approach allowed us to adapt our messaging effectively at each stage, ensuring that our client’s brand resonated with the audience while guiding them from discovery all the way through to decision.
- First and foremost, we established a comprehensive marketing strategy that leveraged search and display ads, connected TV advertising, organic and paid social media, SEO optimization, email marketing, content marketing, and lead nurturing.
- In addition to driving new leads, we recognized the value of referrals in B2B lead generation and integrated a comprehensive referral program with the client’s delivery team. This program harnessed the client’s existing customer relationships to bring in new, warm leads, as Forbes ranks referrals as the second-most valuable source of qualified leads in the B2B world.
- We also developed an ABM strategy that targeted specific accounts that aligned perfectly with the client’s offerings. We narrowed down results based on criteria like company size, revenue, job titles, and internal structure. This approach ensured that leads generated through ABM were of the highest possible quality, focusing efforts where they were most likely to yield results.
- As a part of our ABM strategy, we engaged in events and strategic sponsorships to seek out and attract specific target accounts that best fit the client’s offerings. This approach involved tailoring marketing efforts to company size, revenue, job titles, and even internal structures, ensuring the quality of leads generated through these initiatives was of the highest caliber.
- Recognizing the untapped potential in the client’s existing customer base, we also initiated cross-sell and upsell campaigns. By offering additional services to customers who might not have been aware of them, we tapped into a previously overlooked market, maximizing the value of existing customer relationships.
“Our overall experience has been great. We rely heavily on their knowledge and expertise in regards to social media marketing, website design/upkeep, and SEO ranking.”