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PROFESSIONAL SERVICES BUSINESS DEVELOPMENT AND MARKETING INSIGHTS

| 3 minutes read

Deloitte's Global Marketing Trends: What this Survey Means for CMOs in Law Firms

Reading Deloitte's 2022 Global Marketing Trends publication, it's clear that the macro trends impacting B2C organizations are taking effect across B2B markets. 

Specifically for professional services firms, the past 18 months have witnessed a dramatic shift in the 'physical-first' nature of most client engagements. Investing in the digital experience has therefore become paramount to maintaining relationships, fostering trust, and continuing to add value when alternative forms of marketing become inaccessible to clients. 

Connecting the dots from the publication's key takeaways, here are my thoughts on how these resonate with what's going on across professional services marketing - in particular law. 

Putting Purpose into Action

Purpose has become a competitive differentiator for firms that go beyond using their profits & balance sheets as their primary motivator. 

  • Defining your firm/practice group's purpose.
    • Focus on your strengths. This will ensure your purpose is directed in areas where you are equipped to make a difference. 
    • Furthermore, understand your stakeholder values. This will help you to steer clear of agendas where you are not suited to making an impact and/or won't resonate with your audience.
    • Having a clear and broadly communicated purpose will also guide decision-making for all employees. Guiding them to steer the ship in the same direction. 
  • Purpose requires enterprise-wide alignment—and being held accountable. 
    • Establishing KPIs around your purpose is the only way to keep it front and centre. 
    • Measuring progress toward these KPIs will help you to understand how your firm is living out its purpose in the eyes of your stakeholders.
  • CMOs connect purpose and the client experience.
    • CMOs are uniquely positioned to bring the clients' voice to the firm and ensure that purpose is embedded in every client touch point.
    • If you run a client listening program, factor your client feedback into your client journey and ongoing experience. 

Authentically Inclusive Marketing 

  • Elevate equity - internally and externally.
    • Ensure your teams and suppliers reflect your market. Be mindful of this when it comes to your marketing and thought leadership.  Be authentic.
    • Create a platform for all voices across your firm - especially minority and underrepresented groups. Build confidence within these demographics across your business to share their stories, ideas, and insights. 
    • Imposter syndrome exists all over your organization, make a plan to counter this. Educate your peers that all voices & opinions matter.
  • Bring diverse voices into your campaigns.
    • Actively feature all faces and voices in your marketing efforts.  Demonstrate the firm you want to become
    • Create a diverse array of content.  Think about ncluding your clients and external stakeholders in the production of your content where you can. This will ensure your content represents your audience and is centred around their values/interests. 
    • Ensure you maintain authenticity when doing so. Don't fake it or outsource your voice.  Your clients know you and will catch you out.
  • Invest in representation and keep to your commitments. 
    • Make sure your DEI goals are not just checking a box but creating real, measurable outcomes.

Data & Design

  • The drive for talent.
    • Hiring into marketing teams has increasingly focused on more analytical and data-oriented marketers.
    • The most successful marketing functions are able to combine the data scientists & developers with the creatives to make a collective where the whole is greater than the sum of the parts. 
    • With the goal of getting ever closer to the client, collaboration, both internally and externally, can be key to building a creative engine that moves at the speed of culture.
  • Hitting the data reset button.
    • Focus your data capture and cultivation on bringing your clients value. This will help you to build stronger relationships.
    • Be transparent with your clients on how you are going to use their data. Make sure they understand the value you are seeking to add. 
    • Finally, make sure however you collect, store and process client data you have gone through the relevant security procedures and checks.
  • Building a cohesive, consistent and personalised experience.
    • Empower your clients with greater choice through personalisation. Give them control over how frequently they hear from you and about which topics. 
    • Understand your clients and meet them in their preferred channels. 
    • Build infrastructure that supports you in meeting your clients where they want to be met. Consider how your firm is going to blend the digital and physical experience. 

There are plenty of data visualisations throughout the report. Click here to see these in more detail. 

The past 18 months forever redefined customer engagement strategies—and with this change has come unprecedented complexity. Consider just a few of the macro trends unfolding in the market: In a world where people continuously toggle between digital and physical channels, linear customer journeys are almost a relic of the past.

Tags

marketing, professional services, equity, dei, thought leadership, cmos, campaigns, authenticity

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