Why Mid-Size Service Firms Need The Ultimate Digital Marketing Stack – Forbes
Successful mid-size service firms, those with $3 million to $30 million in revenue and 15 to 150 staff, often grow by way of referrals. These referrals come from clients, partners, networks and associations. While referrals still work and have always worked, are they the best way or the only way to grow a mid-size service firm?
Do CPA, law, technology consulting, management consulting, financial service and AEC firms have to rely on referrals as the primary source of new clients? Is this all there is today? I think not.
Digital disruption is real. Over the last 10 years or so, there has been an explosion of digital devices, tools, apps, communication networks and social media properties. This is creating an ecosystem of prospective clients who could be a great fit for your firm. But can all of this new technology really help you acquire new clients?
I say yes, but for this to happen, you need the right approach and the right technology stack applied in the right way for your business. By “technology stack,” I mean a set of cloud-based applications that can be stacked in a certain order to achieve real business outcomes — like growth.
Introducing The Ultimate Digital Marketing Stack
I think the ultimate digital marketing stack for mid-size service firms looks like this: CMS + MA + CRM + SMM = success. A CMS is a content management system. This is the digital tool that allows you to build and manage websites. MA, or marketing automation, is the software that tracks and scores the digital footprint of people who lean into your firm. CRM stands for client relationship manager and SMM stands for social media manager. This digital marketing stack is making a big difference for us and our clients.
For the first time ever, our clients who have been in business for more than two decades, are suddenly seeing new leads leaning into their brand — leads that no one at their organization knows personally.
The leads also were not referrals from clients, partners or local networks or associations — they are “organic prospects” which means that they are truly net-new to our clients.