During his session at the AAM conference in June, Justin Chatigny reminded us of the importance of having a firm wide strategy that is consistent with the strategy for marketing and business development. This entails embracing a well thought out marketing strategy that avoids the common pitfalls of having no strategy at all or having too many strategies - instead forcing the firm to be more narrowly focused, gaining an insiders' understanding of what the clients most pressing challenges are and how to solve them.
Chatigny noted that all too often a firm's marketing plan is not aligned with its culture, current life cycle phase or growth plans. He has observed that less successful firms don't conduct any upfront market research, use few metrics to measure the success of their marketing, lack a vocal, cohesive and consistent message of leadership support, have a tendency to give up too soon and jump into tactics with little regard for the underlying strategic foundation that supports the plan.
If you want your marketing activities to be as successful as possible, you need to be sure that everyone in the firm knows your value proposition, your differentiators, your special philosophy and your plans for immediate growth and your long term future. If these are agreed upon then your marketing initiatives will sustain your business plan without sending inconsistent, confusing and competing messages to your target audience.
I hope you are enjoying some of the tidbits I am sharing from the AAM conference. I hope next year you will plan on attending and hear these great ideas for yourself!