When we look at creating a marketing strategy for your firm, we often ask our team to think about the ‘seven Ps of service marketing.’
Our Managing Director, Jo Edwards, says:
“The seven Ps provide a great framework for strategising professional service firm marketing.
“Each ‘P’ represents a key part of the entire marketing equation and together they provide a client-centric approach to advertising. The framework also points us in the right direction for differentiating your firm from the competition.”
Here’s a glimpse into the seven Ps and how we use them at JE Consulting:
1. Product
In the context of professional service firms, the ‘product’ is the range of professional services offered.
At this stage, we look at the defining services that you offer to your clients.
Whether it’s tax consulting, audit services, legal advice, or litigation support, having a defined niche can help your firm stand out in a competitive market.
The intangible nature of professional services requires a clear explanation of what they involve, and the expertise required.
We look to emphasise your specialisation, experience, and the tailored approach you bring to each client, helping you to stand out.
2. Place
For professional services, ‘place’ is the channel (or channels) through which their services are offered.
In our field, this generally refers to the digital platforms and websites we use to market your services to potential clients.
The important part of the ‘place’ consideration is that we generate a working, efficient and attractive website that accurately reflects your services.
Recently, SEO has also become a defining factor in how your website reaches traffic so improving your page’s ranking on search results pages has become a ‘place’ factor too.
(Read about our thoughts on SEO, here).
3. Promotion
Promotion in the context of accountancy and legal services should focus on building trust and demonstrating expertise.
We usually suggest investing in content marketing, such as publishing articles, blogs, and white papers, engaging in speaking opportunities, and maintaining a strong online presence through a professional website and social media.
Networking, referrals, public relations (PR) and maintaining strong relationships with existing clients are also crucial promotional strategies in your field.
4. Price
Our team very rarely advise on pricing considerations.
However, with a little bit of marketing know-how, it is easy to change the perception of price while keeping the actual figure the same.
This is called price relativity, and we are great at highlighting how your expertise, skills and services align with your pricing structure.
5. People
In professional service firms, the quality of interactions and the expertise of the staff are paramount.
The staff must not only be highly skilled and knowledgeable but also able to communicate effectively and empathetically with clients.
The reputation of your firm often rests on the quality of your people and their ability to build strong, trusting relationships with clients.
In our marketing role, help to promote your team as well. We do this through team pages, social media management, ghost writing and developing personal-branding strategies for key team members.
6. Process
As you know, the processes used by professionals in delivering their services are a key component of client satisfaction.
This includes everything from initial consultations and onboarding to regular updates and the handling of sensitive information.
From a marketing perspective, it’s essential to effectively communicate these processes to enhance client engagement and trust.
In this, we focus on developing clear, branded communication materials that guide clients through each step of your processes, ensuring they understand what to expect and feel supported throughout their journey.
You can also use marketing strategies to showcase the efficiency and confidentiality of your processes, reinforcing the firm’s reputation for professionalism and reliability.
In essence, you are making the statement that you know what you are doing and can do it well.
7. Physical
Many of our clients initially think that the physical part of their marketing strategy involves having a nice office space, a high street presence or branded pens.
But, while these are all important factors, they aren’t the whole story.
We take ‘physical’ aspects of marketing to mean awards, testimonials, and evidence of the exceptional services you offer your clients.
In fact, we often find that some of the best ROI for our clients comes from an investment in award entries and recognition by groups like Chambers and Partners.
That’s why we have dedicated team members who specialise in entering awards for our clients and promoting their services through PR campaigns.
If you want to improve any of the seven Ps of your marketing strategy, please get in touch.
