Professional Services Marketing 2014: Best Content of Q3

Q3 2014 gold trophy

The “Best Content” series brings you a handful of the most thought-provoking and informative articles, interviews and insights related to financial services branding and marketing published over the last quarter, broken down into bite-size pieces for your convenience.


Why Reviving the Arthur Andersen Brand Isn’t As Crazy As It Sounds
Arthur Andersen is a name with a history, to put it lightly: many still remember its demise twelve years ago, when the auditor failed to report Enron’s institutional and accounting fraud. Several partners from the firm then started WTAS, and recently, they changed the name to Andersen Tax. Understandably, many are asking the question this article poses: “Why would a tax consultancy openly embrace a name associated with the aggressive use of paper shredders?” According to Andersen executives, and a supported by a commissioned poll, the name still holds a “cherished legacy of integrity.” Will this legacy hold up in the future? Read more about the new name here.

A New Space for CMOs: the Law Firm
CMOs at law firms have very particular and unique roles, as this interview with the CMO of a global law firm makes clear. She explains the challenges – such as the fact that “the partnership structure of a law firm means you could have over 1,000 bosses, and many believe they know marketing” – and offers advice: learn from other professional service companies – not just law firms – since they “have been doing this longer, with more sophisticated systems, and business development is highly valued in their corporate culture.” Read more insights from a law firm CMO here.

Forget Command and Control – Try Connect and Inspire
Professional service brands are built on reputation, relationships, and intellectual capital. That is to say, a professional services firm’s brand is largely based on its people and their ability “to generate new ideas and innovation.” Therefore recruiting and retaining top talent is particularly important in the industry, and as this article points out, “companies that can’t attract and retain the best young talent find it harder to connect with the demographic externally.” And while employees today more than ever want to connect with their employers based on shared values, leadership style and company culture are also key: “without open, inclusive, collaborative leadership, innovation simply can’t thrive.” Read the article here.

Six Keys to Consulting in the Middle Market
Though large corporate clients are considered the holy grail, this article points out that “it’s the middle market that is the real engine of growth and opportunity in America.”  How does the approach differ? In this piece, a consultant lists critical behaviors when working with a middle market business –and marketers must keep them in mind, too, when targeting these companies. Because mid-sized firms often have less resources (human, time, etc.) to spare than large corporations, marketers need to address their concerns regarding those issues: will the strategies be executable? Will they be action-oriented? Read the keys to consulting in the middle market here.

 

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