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Catching the Web 2.0 wave. By Lucie Benson

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26th Jun 2007
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Lucie Benson explores how modern technology can spice up your marketing initiatives.

Catching the wave

There was a time when marketing your practice meant sticking an advert in the Yellow Pages and waiting for the phone calls to come flooding in. But new technology offers myriad ways that you can market your firm, promote your brand and gain new business in an increasingly competitive marketplace.

Berk, a Dutch accountancy firm and an affiliate of Baker Tilly International recently opened a 'virtual' office in Second Life, a 3D world on the internet with over 2.9 million inhabitants. Berk holds sessions within its office in Second Life, where professionals from the firm discuss their working life with financial students. It also allows Berk employees from all over The Netherlands to meet each other.

The firm says that it is the first European accounting practice to open in Second Life. Hans Koning, managing partner at Berk, says that it is an interesting way of communicating with future finance professionals.

"This project is also a good addition to our regular recruitment activities," he adds. "We provide something extra by allowing students to get acquainted with our line of business and our organisation."

Enno Houwerzijl, Berk's marketing and PR consultant, says the campaign came about as a result of having to be creative and smart with a limited marketing budget. "Apart from conventional tactics, we used a taskforce to target the younger audience," says Houwerzijl. "One of their proposals was a presence on Second Life because being the first European and Dutch accounting firm in Second Life can bring us a huge amount of publicity and strengthen our image as a different, more exciting accounting firm."

Free publicity

Houwerzijl says that Berk has received a great deal of free publicity, both national and international, which increased their brand recall. "We easily earned our investment back in terms of publicity and our target audience really appreciated our adventure in Second Life. Doing something unique is key."

Neil Stevenson, ACCA marketing director, says this kind of Web 2.0 technology is becoming increasingly important in marketing. "The key to it will be translating what are extremely good ideas into potential campaigns that add business value," he comments. "The point at which this technology will be successful is when they really do help with business development.

Top Five tips to market your firm

Neil Stevenson, ACCA marketing director offers the following advice:

  1. Make sure your brand image is modern and reflects market needs
  2. Try to obtain comment in the media on relevant issues
  3. Define your proposition – make sure you understand what the client wants
  4. Find reasons to get and stay in touch with clients and potential clients, perhaps through technical updates
  5. Make sure you put on relevant events and seminars, so your client base can network and become more familiar with your skills

"Discussion forums, for instance, will quickly become very central to marketing in professional services organisations," he adds. "But firms shouldn't do these things just because it is a trendy thing to do. What they should do is try to use it to achieve genuine advantages for them and their clients."

Berk is perhaps an extreme example of those firms using new technology to recruit new talent and gain publicity. But what other options are out there?

Morris Owen is a six-partner accountancy practice based in South-West England. Its marketing manager, James Scanlan, says the ethos at the firm is very much client-focused.

"We place our clients at the heart of our practice," he comments. "The catalyst for what we now call our core brand value is to be client-centric and that is the core message that we take to market. In the competitive market that we work in, it is very important that the clients can identify what the key differences are in each practice. Very often, they are unaware of these differences and, more importantly, they are unaware of the difference in quality of the products."

As a result, says Scanlan, the practice is focused on delivering good products and services to clients at all times. "We take this brand value to market via our brochure, our website, PR and so on," he explains, "Everything we do reinforces that client-centric message."

Online marketing

As well as the more traditional marketing techniques, such as press releases, advertising and seminars, the firm has also been engaging in online marketing over the last couple of years. "It has been great because online adverts can be a fraction of the price, compared to offline, and they have a much longer shelf life," says Scanlan. "So we are able to spend less money on marketing and deliver more."

Morris Owen's website is central to their marketing plan. "The website was designed to be a communication aid for current clients to help deliver that client-centric service, but also to win business," explains Scanlan. "On the website, we have tools, such as e-marketing capabilities, online resources and the client portal."

Scanlan spends a large amount of his time working on search engine optimisation, which he says is paying dividends because he now feels they have an excellent site. "As well as it being able to service client needs, it presents that ethos of what we are about, so it is now actually working for us," he remarks. "Also, in the first quarter of 2007, we gained 14 new clients via the website."

Scanlan is focused on constantly promoting the brand and brand value. "We don't promote the services we offer, instead we talk about and push the brand value, which is the client relationship, and ultimately, the quality of service levels that people can get from us."

M Consulting is a marketing communications agency for the professional and financial services sector. Managing director Mark Manton says that more and more firms now understand the importance of branding.

"In terms of that filtering to your day-to-day marketing, there is a tendency, and it will continue to be this way, for more firms to advertise or promote themselves online," he remarks. "It has immediacy, it is far more cost-effective; and the actual impact of the pieces being sent through electronically is far greater, compared to traditional methods such as direct mail."

Manton adds that he has many clients who are embracing new technologies. "We have got clients who are experimenting with blogs, or coming up with unique news content for their websites so they are more search-engine friendly. There has also been a shift to more pay-per-click advertising and search optimisation techniques. Those sorts of areas are really beginning to drive branding online; in fact, 87% of all business enquiries begin with a search online."

Whatever medium is used, whether it is online or offline, it is clear that marketing is vital when promoting your brand and gaining new business.

Stevenson says that marketing is important in the current climate because clients expect their advisors to be experts as a given, therefore are looking for added-value. "Clients need an additional reason as to why they should put work towards one organisation rather than another," he states. "In a world that is increasingly driven by brands and image, I don’t think accountancy – or any other professional service – is immune from the need to project the right kind of image."

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Replies (7)

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By david_terrar
03rd Jul 2007 17:14

Catching the web 2.0 wave
I stand by my earlier point - most of this article, valuable stuff though it contained, wasn't about "the web 2.0 wave". I wasn't the only one to comment on that fact, and I'm hoping that you do more content about catching the "web 2.0 wave" proper, rather than things like Second Life. Don't get me on web 3.0.... most people think the web 2.0 term is pretty unsatisfactory, but it's out there and business people are beginning to understand what it means and what value it brings. That's the important thing, rather than whether people like the title. However, I'm really glad you responded, because the conversation is the most important thing.

David Terrar
Business Two Zero

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By david_terrar
03rd Jul 2007 15:40

Catching the wave
I think it's quite illuminating that Lucie hasn't bothered to come back and defend her article, and AccountingWEB hasn't picked up the challenge. As I said earlier, more content here on the practical benefits of web 2.0 and enterprise 2.0 so that practitioners could better advise their clients would be a good thing. This kind of article only adds to the fog. It's a shame.
David Terrar
Business Two Zero

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Kate Phelon
By Kate Phelon
03rd Jul 2007 16:02

In response...
Hi David

As I chose the title for this article I feel I should reply. While we value your contribution, we feel that this is not a situation where we have to ‘defend’ ourselves. The Web 2.0 reference in the title simply referred to the Berk escapade into Second Life. While we appreciate that you are particularly interested in Web 2.0 we have many members who are interested in other forms of marketing and the article tries to provide a broad span of the marketing initiatives one could take. Obviously we will continue to cover Web 2.0 or indeed Web 3.0 and welcome any contributions you would like make.

Kind Regards

Kate Phelon
Content manager
AccountingWEB

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By david_terrar
29th Jun 2007 07:58

Give me a berk… I mean break
This is another example of AccountingWEB coming up with an enticing headline that doesn't deliver what it promised.

I wonder whether any of the contributors to this article actually understand what web 2.0 is (because you can't tell from the words here). Anyone coming to this article wondering how they would "catch the wave" would see a reference to Second Life, and maybe go and take a look at that. The rest covers having a decent web site with a customer portal, doing e-marketing instead of stuff by mail, a mention of SEO and forums - all good practice, but firmly web 1.0 phenomena.

Some of the big players are getting in to Second Life - SAP, IBM, big brands like Nike. Even they regard what they are doing as experimental and the jury is out on how much real value it might add. To suggest that the average AccountingWEB practitioner take a dip in this particular pool is counterproductive. Rather than realise the significant benefits that adding web 2.0 activities to their marketing mix might bring, they're more likely to be frightened off by the complexity and strangeness of it. As well as the enthusiasts, there are plenty of web 2.0 evangelists that I talk to that really aren't sure about SL yet, so this is a very poor place to start. It has some PR currency from its current novelty value, which I'm sure is the main reason Berk have headed in this direction.

Many practices struggle with the basics of marketing, and any sort of web presence. AccountingWEB ought to do an article under this kind of headline that properly explains what the "web 2.0 wave" and the related terms are, and offer some practical advice about the available tools like blogs, wikis, online spreadsheets and social networks, and how they can add value to even the smallest practice by helping engage in better dialogue and collaboration between the accountant and their client.

There's no need to be rude, but this kind of article makes me want to head in that direction.
David Terrar
Business Two Zero
Twinfield
D2C

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By AnonymousUser
28th Jun 2007 16:09

No need to be rude
.

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By AnonymousUser
27th Jun 2007 16:57

I think Mr Howlett has a point

Nothing to see here. Move along.

Now what is the derivation of the word "berk" I wonder?

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Dennis Howlett
By dahowlett
26th Jun 2007 14:11

Ummm - 3
I seem to be writing a lot of 'ummm' comments these days. Ho hum.

So apart from the 2nd Life reference, what has any of this got to do with Web 2.0? But then I enjoy watching how traditional marketers somehow think that hijacking a meme brings results. This is a case in point:

"we talk about and push the brand value." duh? So the thinking goes - if we tell you how great we are often enough then brand value will emerge in some magical way? Wait until the first [***] off client tells their mates.

Here's another:
"it is far more cost-effective; and the actual impact of the pieces being sent through electronically is far greater."

Just keep telling yourselves that while handing Google more cash. There is no empirical evidence to support this statement.

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