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24.08.2017
Accountants guide to Cohort Marketing
The Ravens Wood Consultancy
Business Consultant
To stand a chance of adapting to meet future client challenges, Progressive Accountancy Firms have to make a break with the past. Either through design, apathy or happenstance, most organizations look at the world from the inside out.
Prospects are likely to read something if they are recommended to do so by someone within their network.
Cohort marketing is relatively straight forward. Just creating and distributing useful and relevant information/content. Be aware that:
• Access to information online means that clients and users can be less loyal
• Clients are more likely to trust information recommended within their network
• Users decide where and when they access their information
• Google will be a major factor in deciding the reach and therefore the success of the activity
• Our marketing needs to sweat every asset produced to ensure that the maximum value can be extracted
• Publish information individually, in multiple formats, via multiple channels to the widest possible audience. Video; audio, personal blogs, social networks, Facebook, Twitter or LinkedIn etc.
• Activity needs to form part of the ongoing culture within the firm
Why start a blog to discuss a business challenge when a LinkedIn group is already doing just this – where anyone can go and join the conversation? You have to be where your clients are, if you want to talk to them.
It is still necessary to create original ideas and communicate them, but on an opt-in basis, not an ascribed one. Firms should build networks around ideas, themes and issues, not assumed communities of interest.
It is important to be opinionated and succinct, and it is important that your content is available to be consumed by your clients where and when they want it.
Research indicates that your employees can reach an audience that is up to 10 times larger than the one your brand is currently reaching and acceptance of a recommendation is on average around 70% higher through personal recommendation as opposed to unsolicited communication.
Employees can play a crucial role in bringing a real face to that discussion, not least because we all now trust individual recommendations more than those that come from a brand itself.
If firms encourage employees to become engaged with their cohort groups, they can build a team of positive and effective brand advocates. Then, not only are engaged employees twice as productive, but they can be responsible for up to 80% of your clients’ overall brand satisfaction.
Progressive Expert Comment
Progressive Accountancy Firms must gear up to support a multi-channel media strategy in terms of both production and distribution of content through external channels – without limiting the scope of that content’s reach. Employees should be encouraged to become Brand advocates and build meaningful and profitable relationships.
Prospects are likely to read something if they are recommended to do so by someone within their network.
Cohort marketing is relatively straight forward. Just creating and distributing useful and relevant information/content. Be aware that:
• Access to information online means that clients and users can be less loyal
• Clients are more likely to trust information recommended within their network
• Users decide where and when they access their information
• Google will be a major factor in deciding the reach and therefore the success of the activity
• Our marketing needs to sweat every asset produced to ensure that the maximum value can be extracted
• Publish information individually, in multiple formats, via multiple channels to the widest possible audience. Video; audio, personal blogs, social networks, Facebook, Twitter or LinkedIn etc.
• Activity needs to form part of the ongoing culture within the firm
Why start a blog to discuss a business challenge when a LinkedIn group is already doing just this – where anyone can go and join the conversation? You have to be where your clients are, if you want to talk to them.
It is still necessary to create original ideas and communicate them, but on an opt-in basis, not an ascribed one. Firms should build networks around ideas, themes and issues, not assumed communities of interest.
It is important to be opinionated and succinct, and it is important that your content is available to be consumed by your clients where and when they want it.
Research indicates that your employees can reach an audience that is up to 10 times larger than the one your brand is currently reaching and acceptance of a recommendation is on average around 70% higher through personal recommendation as opposed to unsolicited communication.
Employees can play a crucial role in bringing a real face to that discussion, not least because we all now trust individual recommendations more than those that come from a brand itself.
If firms encourage employees to become engaged with their cohort groups, they can build a team of positive and effective brand advocates. Then, not only are engaged employees twice as productive, but they can be responsible for up to 80% of your clients’ overall brand satisfaction.
Progressive Expert Comment
Progressive Accountancy Firms must gear up to support a multi-channel media strategy in terms of both production and distribution of content through external channels – without limiting the scope of that content’s reach. Employees should be encouraged to become Brand advocates and build meaningful and profitable relationships.
The Ravens Wood Consultancy
Business Consultant
The Ravens Wood Consultancy was founded by Jayesh P. Patel in 1996 working with professional intermediaries throughout the UK. I specialise in developing Marketing Strategy and Business Development…
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