Social Media and Your Professional Services Marketing Mix

By Lee W. Frederiksen, Ph.D.

It seems that just about every conversation I have with a professional services CEO these days eventually turns toward social media. Now perhaps it's because I'm a social media butterfly (those of you who know me can stop convulsing with laughter now). No, I think it's because social media is a topic so pervasive in the press (business and popular) that we feel like we're missing out if we don't embrace it.

As leaders of our firms, we should be... well, leading. Then along comes this phenomenon — time intensive, intimidating, and not clearly related to important business outcomes. Is it just an expensive waste of time? So we talk amongst ourselves, looking for something solid to grab on to.

Well here's something solid. A new study on Integrating Social Media into the Marketing Mix was just published by ITSMA. If your not familiar with ITSMA, it's the association focused on marketing IT services. The survey is comprehensive (277 slides!), but I want to focus on just a handful of take-aways.

First and foremost, there should be no social media strategy, only a marketing strategy supported by social media. Amen. Perhaps the name throws us off. What if, instead of being called "social media," it were called, "electronic networking"? Maybe then we would feel more comfortable fitting it into our strategy.

A second big take away is that few firms (almost none) are taking the time and resources to really research where their clients are in the social media universe. Think advertising in the wrong publication. Big waste of resources.

My third take away is that there is nothing free about social media. While there is no fee to open a basic account, the level of sustained effort necessary to generate high quality content and thoughtful engagement with your audience is substantial.

Taking all this into account, we have to ask, "Is it worth it?" The answer, it seems, is no different from any marketing channel. If it reaches and influences your target market in a positive direction, it probably is. For me, the jury came in when we signed our first client that came exclusively from social media. No prior relationship, no mailings, no emails — nothing. That reality is what moves CEOs to action.