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September 24, 2018 by Greentarget Leave a Comment

If you’re lucky enough to have seen Hamilton, the Broadway megahit penned by Lin-Manuel Miranda, you’ve likely listened to the soundtrack every day since you saw it, daydreamed about the Hamilton Exhibition opening next year in Chicago and stalked Miranda’s Twitter feed incessantly. Or maybe that’s just me. Through a combination of good fortune and slight obsession, I’ve actually seen Hamilton three times this year. But beyond the romance of the theater and the beguiling Hamilton score, I found striking connections between Alexander Hamilton’s practice of public relations and the work we do at Greentarget. Here are a few lessons we can take out of Hamilton’s PR handbook: 1. Thought leadership has always been, and always will be, essential. Hamilton knew his voice carried weight. The Federalist Papers – a collection of essays written by Hamilton, John Jay and James Madison promoting the ratification of the U.S. Constitution – was the product of a content strategy created to influence the course of history. At Greentarget, we believe true thought leaders have an obligation to participate skillfully in the conversations that matter to their clients, especially as they seek to burnish their reputations, attract talent or achieve a higher purpose. Hamilton was largely driven by his pursuit of a higher purpose – but he was also ambitious, and his thought leadership elevated his personal brand, fueling his ascent to an essential role in the first presidential administration. 2. The importance of directing a smarter conversation. While Aaron Burr repeatedly advised him to “talk less, smile more,” Hamilton couldn’t help himself. He never shied away from an opportunity to “drop some knowledge,” and as a result he was often able to shape public perception of important issues. To be a true thought leader, an organization must consistently deliver insights and intelligence that inform business decisions for its key audiences. We sometimes encourage our clients to assume they’re “the smartest in the room” and capitalize on any opportunity to offer their unique perspective and elevate the conversation. 3. The significance of media. Hamilton relied heavily on newspapers and pamphlets, partly because they were among his only means of distributing his ideas. But even with the changing media landscape of the 21st century, traditional media is still a go-to source for executives and business leaders. Greentarget’s 2018 State of Digital & Content Marketing Survey shows that 54 percent of in-house counsel surveyed go to traditional media (e.g., The Wall Street Journal) each day for legal, business and industry news and information, and 45 percent find such sources very valuable – far above any other source. And Greentarget’s new survey of C-suite executives, the State of Digital & Content Marketing Survey – Professional Services, found that more than half of those executives get their content from traditional media every day, and 75 percent find it very valuable content for business and industry news and information. As PR pros work to keep up with the ever-changing media landscape, I invite you to view Hamilton through the lens of your work. Consider what he knew about shaping public perception by contributing to a smarter conversation, and remember that, though we take pride in finding new and exciting ways to distribute our clients’ messages, the tried-and-true methods still resonate. And, while it’s true that we may not be in the business of deciding “who lives or who dies,” at Greentarget we certainly believe you can tell your story.

July 23, 2018 by Aaron Schoenherr Leave a Comment

“The only thing that is constant is change.” I was reminded of this quote while attending the GroPro 20/20 conference last month with dozens of CMOs and managing directors at leading law firms and professional services organizations. It’s an easy idea to agree with but a hard truth to fully embrace. Executives across the legal, accounting and consulting industries are responding and innovating (some better than others) in response to changes in client demand, the talent pool, disruptive technologies and marketing trends. It was incredibly refreshing to hear, through open conversations with an impressive audience of senior marketing executives, how different leaders are managing through this period of volatility and uncertainty. The conference occurred just weeks before the release of Greentarget’s first survey documenting the content consumption preferences and behaviors among C-suite officers, who make up the core client and prospect base for the industries listed above. So we listened with an ear toward the ways professional services marketers are striving to cater to those preferences and behaviors. We heard a lot of great ideas and sharp perspectives. Here, in no particular order, are a few highlights: Cultivating Marketing Allies. Getting buy-in and support from influential members of the partnership and executive leaders was a common theme. The panel comprised of CMOs from Bain Consulting, Navigant and Wiley Rein illustrated different strategies to identify and cultivate these “promoters.” One CMO’s strategy hinged on gamification – creating a series of marketing challenges designed to advance new business objectives with prizes for the most meetings secured, articles published, revenue generated, etc. “It’s amazing what you can accomplish through a little healthy competition – especially among a partnership.” Start-Up Mentality. As we’ve documented, legal operations continues to grow as a force in the legal industry, and the findings in an annual survey presented by HBR Consulting feed that perception, depicting a shrinking investment in outside counsel and an increased investment in in-house resources. The panel discussed the notion that growing a legal operations team at a law firm requires a “start-up mentality” as new hires with new skill sets need to be free to challenge processes and bring fresh thinking. As one panelist put it, “How do you materially differentiate yourself based on the client experience?” Data, Data Everywhere. At one point during the event, the room was pretty fired up over data visualization tools, talent and needs. Many of the firms attending deal with mountains of data in Excel and other database tools. One in-house counsel said, “Whenever we see a ton of data in a spreadsheet, we think, ‘How can we make this a map, a graphic or an interactive image?’” In some firms, data visualization has become a billable service that clients will invest in to “learn something about themselves they don’t already know.” Another consulting firm CMO added, “Co-innovation through efforts like data visualization is the shortest path to client connectivity.” Blockchain in Professional Services. A presentation from Microsoft sparked a compelling conversation around the applications of blockchain, a connection that may not be obvious at first glance. However, at its most basic level, the presenter emphasized that blockchain technology produces data that is completely immutable, is verifiable and removes the need for trust. This could have many applications in accounting, asset management, legal and management consulting, especially in billing and auditing. One panelist predicted we’re likely to see blockchain-based invoicing in professional services within the next 24 months. Building a Professional Services Brand. “In professional services, we too often disguise brand as something else – using words like reputation, or client experience. But brands are exciting and unique and should be embraced.” This observation from One North kicked off one of two sessions on branding that focused on how professional services firms too often play it safe using the all-too-common pillars of reliability and trust. “If an organization wouldn’t claim the opposite, it’s not a brand pillar.” In a separate panel led by branding agency Clarity, a panelist discussed an ingenious approach to measuring effectiveness in this area – she creates a word cloud of client feedback to see how many of the brand pillars appear in the language clients deliver back to the firm. According to one marketing chief: “Our goal was to build a truly durable brand — our approach to sharing our expertise was about developing signature thought leadership. It wasn’t about the quantity of content we created, but the quality.” Music to our ears. Disrupt or Be Disrupted. A former Fortune 50 CMO discussed how disruption has never been happening faster, so it’s important for companies to think big. “As the saying goes, we tend to overestimate what we can get done in one year, but underestimate what we can accomplish in five years,” she said. Above all else, GroPro reminded me how important it is to create the time and space to get out of the day-to-day routine and listen to diverse perspectives. The frantic pace of business today creates a challenging paradox – it’s harder than ever to make the time to expose yourself to new points of view but also critical to find the energy to embrace change and expand.

June 7, 2018 by Greentarget Leave a Comment

The declaration came in a room full of marketers at the Association for Accounting Marketing (AAM) Summit a few weeks ago in Portland, Oregon. And it drew nods from the crowd. “The audit, as we know it, will be gone in five years,” said Ed Kless of Sage, a business management solutions provider. Kless was talking about the impact of technologies like blockchain and artificial intelligence, which are already reshaping the industry. Against this backdrop of surging disruption, the AAM Summit’s theme was fresh thinking – with a focus on trends, tools and best practices to make accounting firms stand out regionally and nationally. Here are a few of the conversations and topics that stuck with me after I left Portland:
  • Make Accounting Marketing Personal. In the opening keynote session, comedian and former CPA John Garrett discussed how accounting firms can differentiate themselves by letting their personalities shine through in their marketing. For an industry constantly focused on numbers, audits and processes, this makes sense. By humanizing their organizations (and talent) through networking, community relationships and creative thought leadership, firms can rise above the noise.
  • Evaluate and Optimize Your Marketing Technology Stack. No matter the size of the firm, investing in the right marketing technology can yield incredible benefits. In the “Building Your Marketing Technology Stack” session, two firms (one with an annual revenue of $250 million, the other $5 million) shared how they invest in technology to optimize their marketing. These firms understand how syncing brand awareness, customer nurturing, conversions and analytics are critical to growth.
  • Online Reputation Matters in the Accounting Buyer Journey. The session “Online Reputation for Accounting Firms” introduced some powerful research. For example, 33 percent of prospective accounting firm clients will read online ratings, said Kat Kocurek from Inavero, a satisfaction survey provider, and more than half of prospects referred to a firm will research it online. This reaffirms that the days of relying on relationships and handshakes in the buying process are long gone.
  • Hyperlocal Marketing Matters. However, when I spoke to marketers from smaller accounting firms in Michigan and Virginia, they told me that building local relationships is still critical. Incentivizing accountants to network and build community relationships remains a key part of the hyperlocal marketing strategy.
  • Business Development Is Everyone’s Responsibility. For many smaller firms, getting the partners and accountants to support marketing activities can be critical to growth. One session covered how gamification and simple incentives like branded giveaway items could encourage accountants to network with prospects in the community.
  • Diversify Content. I also spoke with many marketers looking at developing new thought leadership content to engage their audiences. There were a few firms even exploring the notion of podcasts. In one session, the speaker described how podcasts provide engaging information for target audiences hungry for insights.
  • Long-Term Thought Leadership. If your marketing team is thinking of building a thought leadership platform, it’s worth the effort to think ahead — how will that platform evolve in three to five years? In “Winning in the Market for Ideas,” a former Big Four marketing chief emphasized the importance of building a thought leadership campaign over the course of several years to keep up with evolving preferences in the marketplace.
The accounting business, like so many others, is subject to the same disruptions and evolutions buffeting the rest of the business world. Firms that will win out are the ones that will build aligned sales and marketing approaches and ultimately apply fresh thinking to the changes that are rushing through the industry.

April 25, 2018 by Greentarget Leave a Comment

We spend a lot of time talking about how to adapt sophisticated thought leadership to new media since questions like “How do you elevate the conversation on Twitter” weren’t being asked 15 years ago. And we treat that pace of change as remarkable – a sign we’re living in an age of exceptional ingenuity. But communicators have been adapting to shifting media landscapes for centuries, trying to meet audiences where they are and take full advantage of the available platforms. If you want to see what I mean, you should visit an art museum. For Employee Appreciation Day this year, Greentarget threw it back to our school days and took us on a field trip to the Art Institute of Chicago (our colleagues in New York took a similar trip to Cooper Hewitt, the Smithsonian Design Museum). Once we arrived, our friend Howell Malham Jr. introduced us to Gloria Groom, a curator at the Art Institute; together they led us around the European Painting and Sculpture wing, stopping to give us historical perspectives on four particular pieces. Each piece was not only a work of lasting importance in the art world, but also an example of the artists, and subjects, directing the conversations of their time. The last piece we saw, Model for a Statue of Louis XV (1746-8), struck me the most. Gloria noted that the statue was essentially a solution to a communications problem. King Louis XV of France was perceived as weak and incompetent by the French citizenry. So he did what any resourceful king would have done: commissioned a sculptor to create a massive statue that would portray Louis XV the way he wanted to be seen – as a stirring, dynamic leader who did heroic things with swords. To depict Louis as a strong leader, capable of leading with wisdom and conviction, the artist Jean Baptiste Lemoyne put a scroll in the king’s outstretched right hand. The sword in his left hand suggests the king was a strong warrior, ready to lead his people to victory. Louis’s relaxed pose conveys a sense of confidence, inviting the French people to trust him, to believe in his prowess as a ruler. The piece at the Art Institute is not the statue itself, but the model that was to serve as a reference for the monument. The model is a little over two feet tall and made from terracotta, a pliable material that, nearly 300 years later, still bears the artist’s imprint on its surface. The material makes the piece look like it’s still in progress, as if Louis XV could still be imploring the artist to make him a bigger sword. It’s a far cry from today’s image-making, which leans heavily on social media and made-for-mobile video. But while commissioning statues is no longer the norm, we haven’t entirely abandoned the idea that image can be shaped through art. Gazing at the miniature statue of Louis XV, I kept thinking about Kehinde Wiley’s portrait of former President Barack Obama, unveiled a few weeks before our field trip. In the painting, Obama leans toward the viewer, hands folded over each other, as if listening intently to whatever we’re saying. It clearly reflects the demeanor Obama projected throughout his presidency: a calm, collected thinker invested in his people – a listener. Unlike Louis XV’s statue, the Obama portrait is part of a tradition going back to George Washington. But presidential portraits have shifted over the years. Early American presidents were depicted in dark colors, appearing stoic and unwavering. Later POTUS painters have taken a more casual approach, with more colorful surroundings and relaxed poses. While the medium and images change with the times and technology, some things are timeless. Whether it’s terracotta or Twitter, it’s the message that matters.

April 23, 2018 by John Corey Leave a Comment

The comment came at the 2018 Legal Marketers Association National Conference in New Orleans — and it says a lot about the state of play in a hypercompetitive industry.

“You can be the best lawyer in the world,” one general counsel said. “But it’s worthless if you can’t communicate with me in a timely way.”

The GC was talking specifically about outside counsel responsiveness. But he could have just as easily been talking about the effectiveness of communicating through law firm-generated content. It’s a topic that weighs heavily on law firm marketers, one we hear about every day — and the focus of Greentarget’s State of Digital & Content Marketing Survey.

Of course, content was far from the only topic of conversation among the 1,500 attendees at LMA two weeks ago. In my first time attending an LMA national conference, I got a virtual crash course in the hottest issues facing Greentarget’s law firm clients and the industry itself. Here are the ones that stood out to me:

  • Relationships Matter for Legal Buyers. From the opening keynote on “The Science of Happiness” to the general counsel panel I referenced above, one message came through loud and clear: building strong relationships between attorneys and in-house counsel is critical. One in-house executive noted that attendees weren’t taking advantage of the opportunity at hand. “I recently attended a legal event with several attorney speakers. I was shocked when, after the panel, all the attorneys were standoff-ish, and rushed out to head back to their billable work instead of speaking with me. It was a major missed opportunity.”
  • Marketing Is Evolving. At the LMA Northeast Cocktail Event sponsored by Greentarget, I spoke with a marketing leader from a firm in Boston. She was starting to take on more of an operational role simply because she had been with the firm for an extended period of time, was intellectually curious and organized, and had built up a lot of internal support. The next day, the Marketing 3.0 session illustrated how many marketers with these traits have transitioned into a practice-group manager role — a great fit for marketers looking to grow within their firms and take on new responsibilities.
  • “Snackable Content.” While many legal marketers are focused on creating sophisticated content with the depth to engage in-house attorneys, one GC at a large consumer goods retailer took a different perspective. “I’m all about reading snackable content,” she said. “It’s how our consumer marketers engage, and internally, it’s how we’ve been trained as a company. This is how we digest information best — short, memorable emails and pieces of content with relevant information.”
  • Importance of Diversity, for GCs and Marketers. The session titled Making the Business Case for Diversity was popular, and I spoke with a few marketers who were glad the topic was on the agenda. One GC from a top retailer shared how diversity is a critical part of their agency selection: “It’s important for our firms to understand our diverse culture and reflect that in their attorneys.” Another in-house attorney agreed: “If we are looking at two similar law firms with the same skill set, a diverse attorney team can make a difference in the selection process.”
  • AI and Machine Learning. The AI session was one of the most well-attended breakouts at the conference. Whether AI is being used to sift through data or assist with digital marketing plans, it’s top of mind for many marketers in the legal space. We’ve implemented AI for research for several of our clients at Greentarget, and we’re excited to see how this trend grows in the future.
  • “Misalignment Between Budget and Ambition.” In the Website Deep Dive breakout session, one legal marketer shared her challenges in overhauling her firm’s website. Planning and objective setting are critical to a successful marketing initiative, but some marketers or executives might not be realistic about what is achievable. As a new business lead, I see this issue time and time again — it’s important to understand what is achievable with limited resources.
  • “Substantive Subject Matter Expertise.” Several sessions featured breakout speakers who shared tips for improving website navigation, layout and content. But I think one GC said it best: “When I’m looking at a firm’s website, I’m looking for substantive subject-matter expertise. It’s not just surface level knowledge — I’m looking for people who understand my business.”

This last point really stuck with me. The ultimate goal of much of the work we do at Greentarget is to position clients as substantive subject-matter experts, to differentiate them for prospective buyers and decision-makers. Clearly, meaningful and substantive points of view are critical to elevating brand awareness and driving smarter conversations.

April 18, 2018 by Greentarget Leave a Comment

Mark Zuckerberg likely didn’t begin his congressional testimony in Washington last week hoping to do much more than limit the damage to his company’s tattered image. And, in a testament to the effectiveness of solid media training, he probably accomplished that goal. But Zuckerberg could have done so much more. He could have elevated the conversation around Facebook, data privacy and the future of the internet. To be fair, Zuckerberg took a couple of baby steps. He said that his own data was compromised, which effectively humanized a man who badly needs humanization. And he laid plain his company’s business plans (they aren’t changing). But the wunderkind who had the foresight to build one of the world’s most important companies stayed stubbornly locked on the past – and failed to discuss the future, notably how Facebook and other companies can secure the data of billions of people. Sure, by remaining defensive and focusing all of his energy on the testimony, Zuckerberg made sure he’d get out of Washington alive. But he didn’t fulfill his obligation – the way we see it at Greentarget – to drive a smarter conversation. We believe that business leaders like Zuckerberg, who have informed and unique perspectives on important conversations, have a responsibility to help their audience better understand those conversations. That was especially true in Zuckerberg’s case – billions of people trust Facebook with their personal data. And yet for all the preparation that Zuckerberg put in, he didn’t realize the opportunity he had, in front of an audience of millions, to address the fears of those who had their information stolen – or are worried they could be next. At Greentarget, we regularly counsel clients on how to get their message across. In interviews with reporters, published opinion pieces, public speaking and other forums, the same principles apply. Fortunately, Zuckerberg – and indeed a whole host of Silicon Valley executives – will have more opportunities to improve on the communications front. What Zuckerberg Can Still Do Zuckerberg is one of the world’s most important business leaders, so he still has a chance to build on what he said in Washington. The best way to do that is to consider what Facebook users want to know. Where is their data? What steps should they be taking? Do they need to worry about this again? Exactly what is being done to address the problem? It all needs to be conveyed in layman’s terms, but with precision. This might sound obvious. And yet, so many Silicon Valley leaders – who are best positioned to answer these kinds of questions – have remained silent and instead crossed their fingers that Facebook would take the fall, leading to a stalled conversation. Regulators, corporate executives and average Joes simply don’t have the knowledge of Zuckerberg or his counterparts in the upper echelons of Silicon Valley. How They Should Do It While there’s no question that a two-day congressional testimony is not the same as a 30-minute interview with a reporter, Zuckerberg applied the concepts and tactics that go into media training – the type we often provide our clients before conversations with reporters. Namely, Zuckerberg stuck to his message, he retained composure and he didn’t answer any question to which he didn’t confidently know the answer. And if we had trained Zuckerberg, we’d have said he almost nailed it – with one exception. We always tell our clients to leave a reporter with three things at the end of the conversation – and most of the time, the reporter will never have considered at least one of those things before. That’s the definition of driving a smarter conversation. It’s giving new information to someone who is going to put it out in the world for the public’s consideration. Of course, Zuckerberg probably wasn’t going to conclude his testimony by giving regulatory advice to Congress or laying out detailed technical plans for his company. He has shareholders to answer to, and executives like Zuckerberg might perform better in a less combative environment than Capitol Hill. But he could have explained how Facebook’s approach to data collection will change in the next year. He didn’t, and that’s too bad. But the good news is that Zuckerberg, even among tech executives, has a massive megaphone. The question is, will he use it – and will others in the valley do the same? Facebook, Google, Yahoo, Amazon and everyone else should focus on sharing their perspectives on technology and data privacy, including their successes and failures. There are questions that must be answered, and there are others that we don’t know we even need to ask. It’s possible that Zuckerberg limited his testimony to looking backward because he doesn’t know what the future of data will look like. If that’s the case, he and other Silicon Valley executives need to tell us what they don’t know. Simply posing those questions would make this a smarter conversation.
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