Personal Marketing Plans for Professionals

Personal Marke,ng Plans for Professionals

By Michelle Golden

5 Keys to a “Do-‐able” Plan

1.  Understand what you (or your professionals) will/won’t do & why, before you start

2.  Be realis,c: don’t over-‐commit

3.  Ensure goals are worthwhile – quality over quan,ty

4.  Devil’s in the details – deal with ‘em up front

5.  Be sure you can measure & decide when

goldenprac,ces.com 2

Purpose in Marke,ng

What we should do.

the on-‐going process of

1) ensuring repeat business from

exis,ng clients

2) appealing to poten,al clients

Michelle Golden

Marke,ng is…


68% Individual Treatment

15% Technical Quality

7% Price is Too High

10% Other

Wall Street Journal

Why Clients Leave Firms


What They Really Mean (the“Ps”)

•  “Poor communica,on”

•  “Patchy service”

•  “Piecemeal advice”

•  “Poor follow-‐through”

•  “People aren’t a fit” •  “Persuasive compe,,on”


Percep,on of Performance

Time


Client Departure

At the midpoint of sa,sfac,on, where clients are neither dissa,sfied nor highly sa,sfied, the client reten,on level was only 20% percent.

Customers will stray the instant:

1.  They’re no longer completely sa,sfied AND

2.  They have a new op,on available

Harvard Business Review Study


What Do Clients Want?

•  Understand my business

•  Variety of services •  Convenience •  Certainty in price •  Relate to me well

•  Don’t just iden5fy a problem, help me solve it

Wall Street Journal, Golden Practices


Keeping Clients

How to Keep Companies from Switching •  Expecta,ons managed well (no nega,ve surprises)

•  Responsiveness (feel like they’re your only client) •  Quick to no,ce when something is amiss (create an early warning system!)

•  Insights and ideas •  Posi,ve interac,ons (rela,onships) •  Refer business TO them


Classic Marke,ng Cycle


Classic Marke,ng Cycle

✓


Why Firms Do What They Do

Be aware of opera,onal reali,es. Plan accordingly.

Growth Compensa,on Criteria

Products & Services

Capacity

Infrastructure

GROWTH PRESSURE POINTS Growth Pressure Points


Marke,ng Plan Approach

Filling the 5 Buckets.

Firm

PG Indiv

Indiv

PG

Indiv

Indiv

Indiv goldenprac,ces.com 16

Clients

COIs

New Biz

Credibility

Skill/Svc Dev

Personal Marke,ng Ac,vi,es


Current Clients

COIs

New Biz

Credibility

Skill/Svc Dev

Expecta(on Management Conversa(ons/Listening Debriefs (BARs/AARs) Delega(on Face Time Industry/Org Par(cipa(on Succession/Transi(on Service Grid

Conversa(ons/Listening Clarify Messages (educate) Face Time/Follow-‐up Reciprocity/Reward (track) Target Align

Innova(on (new solu,ons/ products, dev processes, improve effec,veness)

Con(nuing Ed (new, advanced)

Apply Industry Knowledge (id KPIs/sector, studies, surveys)

Worthiness of Trust (behavior, impression, respectable ext/int)

Competence (write, speak, lead)

Capability Evidence (case studies, tes,monials, representa,ve clients,)

Involvement (visible in core markets) ID/Study/Refine

Conversa(ons/Listening Face Time/Follow-‐up Demonstrate Relevance, Credibility, Trustworthiness

Personal Marke,ng Ac,vi,es


_______________’s Personal Marke,ng Ac,vi,es

Clients

COIs

New Biz

Credibility

Skill/Svc Dev (or R&D!)


PMP – Grid Format

Who/Where

So That… By When (or “un,l”)

Jan Feb Mar

actual human’s name + co, org, assoc, or pub

short-‐ or long-‐ term objec,ve

date or measure task task task

BILL @ BANK KNOW BETTER 4 TOUCHES 2010 INVITE LUNCH THANK

ORG SPEAK FOR 2x BY DEC 2011 ATTEND CTTE CALL

ESTATE PLANNING GRP

LEARN COLLEGE PLAN METHODS

2 COURSES in 2010 LOCATE BOOK ATTEND


Devil’s in the Details

•  Org, person, or when & how you’ll ID the persons (Hint: early!)

•  Phone numbers & or email in fields

•  4 touches minimum/yr for all clients, COIs, & prospects

•  Break down into small steps (don’t miss follow-‐ups)

•  Think now because you won’t later


Sample 1 Year PMP


  Time expenditure and ,ming reasonable?

 % of “wins” (1 in 3 qualified opportuni,es is avg)   # items reasonable by month? (start small)

 Make every task count (First Research, LinkedIn, etc)  Other resources available/needed   75% in comfort zone, 25% “stretch”

  Tasks complete enough to be calendared – if not, fix

Can combine all PMP goals, check against firm goals

Reasonableness: Revise as Needed!


Follow up & support

•  Structure accountability •  No repor,ng mechanism = minimal progress •  Monthly or bi-‐monthly check-‐ins are usually enough

•  Plan coaching •  Plan evalua,on/grading (self & by others) •  Lots of recogni,on & praise •  Consider a “marke,ng milestones” report


Measurable Marke,ng Results

If executed well,

•  Client reten,on and longevity •  Recrui,ng, reten,on and morale

•  Increasingly excellent customer service

•  Increased revenue from exis,ng clientele

•  New business of the RIGHT type


Thank you.

michelle@goldenprac,ces.com goldenprac,cesinc.com goldenprac,ces.com (blog) @michellegolden (twiver)

Personal Marketing Plans for Professionals

Self Improvement

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