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Marketing Still Largely Inactive for Firms

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Aug 13th 2015
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A recent report from professional services marketing consultancy Hollinden found that more than 80 percent of surveyed firms allocate less than five percent of gross revenues to marketing, with nearly 31 percent spending less than 1 percent of their annual takings.

What's more is that 84.34 percent of respondents said they are not calculating marketing ROI, while only 40 percent stated they were using some form of client relationship management system, with 10 percent of surveyed firms only just starting to experiment with marketing automation tools, including Act-On, HubSpot, and Marketo.

Hollinden's Professional Services Marketing Survey was recently completed by more than 550 professionals from accounting, engineering, construction, consulting, law, finance, and real-estate firms. They shared their views on how marketing and business development are evolving and what role marketing plays in their firm.

“Busy is not marketing. Marketing in the 21st century demands a well-thought-out strategy aligned with a firm's goals and supported by active, consistent marketing tactics,” remarked Christine Hollinden, CPSM, founder and principal of Hollinden. “Sustainable growth doesn't happen overnight. Like any other investment, firms must allocate the appropriate amount of resources in the efforts that produce the greatest results.”

Other key findings showed:

  • 31.8 percent of firms stated that the primary reason their marketing efforts were inactive was due to a lack of time and resources. However, the marketing participants noted the lack of support for marketing from firm leadership as a major concern.
  • More than 75 percent of accounting firms posted revenue growth as the primary purpose of marketing.
  • Only 1.25 percent of professional services firms see talent attraction as a primary purpose of marketing.
  • 49 percent of firms are trusting spreadsheets, address books, and Outlook, among other similar tools, to hold valuable client and prospect information.
  • 16.9 percent of respondents stated that “just do good work and nothing else matters” as their primary key to success.

A complete copy of the survey report may be downloaded at: www.hollinden.com.

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