Our Associate Director Zoe Symonds looks at cost-effective ways for professional services firms to engage with their target audience.
The past 12 months have made many professional firms revisit their advertising spend as Covid has changed the way companies engage with their audience. People’s habits have had to adapt, especially as remote working has taken away that window of opportunity to catch up on newspapers and magazines on daily commutes.
Initially, we saw an increased number of media titles take down their paywalls, as well as making their online subscriptions more appealing with discounted rates and free trials offered to entice their readership, and, most importantly, their advertisers.
While paid for adverts in key media titles still have a place, it appears new virtual and online initiatives are replacing this spend.
Allocating your budget virtually
When it comes to advertising during a pandemic, there are various channels that can create better value for money, while still giving you maximum outreach and exposure. This is a conversation many professional firms are having as they look to reallocate their budget to get the best return on investment.
Online webinars and roundtables have both seen a huge uplift, and with great success. These types of virtual events allow firms to engage with a captive audience on a global scale, while giving them the opportunity to interact and discuss a specific topic that is of interest and relevance. Not only are these events a good use of budget, but firms can really benefit from the pre and post advertising they offer in terms of maximising promotion across social media channels, especially if you are chairing or sponsoring a virtual event.
It also provides you with the chance to follow up post-event with attendees, therefore acting as a really powerful business development tool. Something an advert cannot provide.
White papers
If you are looking to invest your advertising budget in activity that will keep on giving, then a white paper is a really sensible choice. Not only does this give you instant credibility within your sector, it also doubles up as a valuable marketing tool. Distributing the white paper to your current and prospective clients gives you the chance to share your industry insights and position your firm as an industry expert. Your database will naturally grow as you make new connections, providing another reason to share your white paper by way of an introduction.
Furthermore, a white paper is a credible piece of content to share with aligned media contacts and can act as a useful talking point and introduction to key journalists – as well as sharing across your social media channels. All part of the profile and reputation building process.
The year ahead
As we start the new year, it appears that we will need to continue to focus on virtual and online initiatives. At a time when many people are not physically picking up newspapers or magazines to read, examining and implementing alternative solutions to connect with your target audience and prevent your message from getting lost will serve you well.
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