Archive Page 2
By Lee W. Frederiksen, Ph.D.
Sometimes the data speak volumes. I recently had that experience when reviewing the new survey of government contracting firms released by Deltek. The survey, called Clarity 09, is a great resource for anyone who sells professional services to the federal government (and you can download it for free).
Here is the first nugget that caught my attention: How should you approach proposal writing if you want to maximize growth? Be selective (the so called “write fewer and win more” strategy)? Or should you maximize proposals to maximize wins? How about a compromise and be moderately selective?
The survey broke the volume of proposals written per year into four categories 0-24, 25-49, 50-99, and 100+. They then looked at the number of proposals written as a function of growth rate.
What they learned was that as the rate of firm growth increased, the middle categories began to disappear. By the time you get to the highest growth companies (50% or more per year) the only two categories left are the companies who do under 25 proposals a year or over 100. Laser focus vs. carpet bombing (please excuse the military metaphor, it seems so perfect). They both work, but which is most effective? As it turns out, 80% of the high-growth firms use a targeted strategy. Interestingly, this finding fits nicely with our observation that high-growth firms tend to be more focused in their marketing. Thank you, Deltek.
Filed under: Government Contracting, Marketing | Leave a Comment
Tags: Deltek, Government Contracting, proposal writing
By Lee W. Frederiksen, Ph.D.
I don’t know about you, but I haven’t been in the habit of thinking of Michael Chertoff, the former head of the Department of Homeland Security, as a source of sage marketing advice. But alas, I was wrong.
Mr. Chertoff spoke recently to the Association for Corporate Growth on the topic of security and the role that private-sector business plays. In his role as the first head of DHS he was perhaps one of the world’s largest purchasers of professional and technical services. The lesson he shared from that experience is relevant to anyone interested in professional services marketing.
Chertoff described how his department was inundated by firms who had wonderful “solutions” — all in search of a problem to solve. He urged professional services firms instead to take the time to understand the problems faced by their target customers (in his case it was the government security community, but the lesson is universal). Then sell them on the solution. The reception they’ll receive will be enthusiastic.
Amen. This is exactly what our own research on professional serves buyers says. The challenge, of course, is that everyone pays lip service to this concept but few actually follow through. It’s easy to fall into the familiar and routine: “This is what we do. So you want us to do it for you?” If you approach professional services marketing the same way as everyone else, don’t be surprised if the results you get are the same as everyone else.
Filed under: Government Contracting, Marketing, Professional Services, Technology Industry | Leave a Comment
Tags: Michael Chertoff, professional services marketing
By Beth J. Bates, New Media Special Correspondent
Many professionals struggle with how much to share on Facebook and whether to “friend” or connect with co-workers and clients. Many users question whether a colleague or customer will know if they “deny” a connection on Facebook. While Facebook will not notify the user making the request that they were denied, they will see that you are not a friend in their friend list. So confirm and deny with caution.
A recent survey from OfficeTeam shows that executives are very uncomfortable with being “friended” on Facebook by subordinates and superiors. Executives were randomly selected form phone interviews from the nation’s top 1000 largest companies. The survey highlights include:
- 32% were “not comfortable at all” being friended by their boss
- 33% were “not comfortable at all” being friended by subordinates
- 33% were “not comfortable at all” being friended by clients
- 38% were “not comfortable at all” being friended by vendors
Specific concerns include:
- Being tagged in an embarrassing photo.
- Really enjoying Facebook games and quizzes.
- Wanting to join non-professional groups or fan pages.
While I use Facebook for both personal and professional use, I am in the process of setting up a fan page for professional purposes. I hope that this helps shift my friends interested in my professional endeavors to another area of Facebook. I encourage anyone using Facebook among colleagues or customers to familiarize yourself with Facebook’s privacy settings and use them. They will give you peace of mind and will I hope help you avoid any sketchy situations.
The moral? You might want to think twice about friending your co-workers on Facebook. While you might be comfortable with the connection, they may feel otherwise.
Beth J. Bates consults with Hinge on social media tool selection and strategy and helps its clients find effective ways to leverage these new mediums to meet business goals.
Filed under: Social Media | Leave a Comment
Tags: executives, Facebook, Facebook privacy
By Beth J. Bates, New Media Special Correspondent
As social media use grows, professional services providers such as finance professionals and attorneys have found themselves turning to tools like Twitter to grow their customer base and stay on top of industry news. Some have even taken sharing to the next level, telling tales of taking the bar exam or describing how they kickstarted their own careers. Many of these professionals are finding other creative ways to use microblogging:
Lawyers
- Interacting informally with other lawyers
- Republishing and sharing content/knowledge
- Following government bodies online
- Attracting media attention
Insurance Firms
- Resolving customer service issues
- Making announcements (rate changes, etc.)
- Reaching a younger audience
- Enhancing accessibility and personal engagement
Accountants
- Commenting on recent industry news
- Following financial regulations and changes in IRS guidelines
- Using their experience in financial issues to attract new clients
- Interacting informally with other accountants
By finding effective ways to use Twitter and other social media tools, professionals are connecting with new customers, keeping up on trends and keeping the public informed.
Find lawyers, CPAs and insurance firms on Twitter:
- 145 Lawyers and Legal Professionals to Follow on Twitter
- CPAs Embrace Twitter
- Twitter and Insurance – You Have To Be Kidding
Beth J. Bates consults with Hinge on social media tool selection and strategy and helps its clients find effective ways to leverage these new mediums to meet business goals.
Filed under: Professional Services, Social Media | Leave a Comment
Tags: CPAs, Insurance Firms, lawyers, Social Media, Twitter
By Beth J. Bates, New Media Special Correspondent
Twitter can be a tough concept to wrap your head around. Many business owners I meet are either overwhelmed by the conversations (or lack thereof) or can’t figure out how to use the service as a business tool. Connie Benson, Community Strategist for Techrigy, created a comprehensive slide presentation about how Twitter can support lead generation.
The primary points of the presentation include:
- Engage people as people first and don’t push your sales pitch.
- Listening is a critical key for engagement on Twitter.
- Establish goals and challenges and assess how Twitter can support your efforts.
Benson began her journey into the world of Twitter with 5 eager team members and no budget. She notes that once she began engaging in the Twitter community:
- Within 3 months her customer base increased by 57%
- Within 6 months her customer base increased by 269%
- Within 1 year her customer base increased by 840%
I hope that you enjoy this presentation as much as I did. It’s quite inspiring and says a lot about the viability of Twitter as a sales tool.
Beth J. Bates consults with Hinge on social media tool selection and strategy and helps its clients find effective ways to leverage these new mediums to meet business goals.
Filed under: Marketing, Social Media | Leave a Comment
Tags: Connie Benson, lead generation, Twitter
