Focus Article- Siouxsie Jennett

How to Get Partner Buy-In for Marketing Programs and Budget

Securing partner buy-in for marketing programs and budgets is a formidable challenge.

Partners often prioritize immediate, tangible returns and can be skeptical of marketing initiatives, viewing them as risky investments. However, overcoming these hurdles is crucial for a firm's growth and competitive edge. By aligning marketing strategies with the firm's overarching goals and educating partners on the modern marketing landscape, your marketing team can achieve alignment, engagement and buy-in from partners. This alignment not only ensures the successful implementation of marketing programs but also paves the way for sustained business growth and innovation, ultimately providing you with more budget to innovate.

CHALLENGE: Skepticism about ROI

Partners in accounting firms prioritize programs that are measurable and yield immediate financial returns. Marketing initiatives, however, often take time to produce tangible results, leading to skepticism about their return on investment (ROI). This skepticism can result in reluctance to allocate budgets towards marketing activities that are perceived as nonessential or risky.

SOLUTION: Tell a Compelling Story with Data

Accountants live by numbers, so lead with data to make your case. Present metrics and analytics that link marketing efforts directly to revenue growth and client acquisition. Speaking their love language of data and numbers will build their confidence in marketing’s approach and expertise.

• Case Studies: Build case studies that demonstrate the customer journey from Prospect to Closed Won. Use a flow chart to illustrate the various activities that are required to attract, engage and convert a prospective client.

• Dashboards: Leverage your marketing automation and CRM system to build dashboards that display campaign metrics. Start with number of prospects, Marketing Qualified Leads (MQL), Sales Accepted Leads (SAL) and Sales Qualified Leads (SQL) in the pipeline to build partner confidence that this is data you review regularly. Work toward tracking important metrics like percent conversion from MQL to SAL/SQL, Average Lead to Opportunity Length, Average Opportunity to Close and include any leading indicators such as decrease in days to close.

• Numbers Only: Partners don’t need to hear about campaign creative, color palettes or content types as much as they need to hear about positive outcomes from your efforts and budget. Present only numbers and leave the graphics and wordy explanations out.

CHALLENGE: Partners Lack Understanding of Modern Marketing

One of the most significant challenges in securing partner buy-in for marketing initiatives in accounting firms is the lack of marketing understanding among partners. Often, partners possess deep expertise in accounting and finance but have limited exposure to modern marketing strategies and their potential impact on business growth. This knowledge gap can lead to misconceptions about the value and effectiveness of marketing efforts, resulting in hesitation to dedicate resources towards these initiatives. Addressing this challenge requires a concerted effort to educate and engage partners, bridging the gap between traditional accounting practices and contemporary marketing techniques, ultimately fostering a more integrated and forward-thinking approach to the firm's growth strategy.

SOLUTION: Educate and Engage Partners

Bridging the knowledge gap requires a focused effort to educate partners about the mechanics and benefits of modern marketing. By providing targeted education and demonstrating how marketing aligns with the firm's goals, you can foster greater appreciation and support for marketing initiatives.

• Host a Lunch and Learn: Make your partners smarter by providing trends and insights in the accounting vertical. As marketers, you have access to industry reports, conferences and data that can be very interesting and useful to an executive.

• Regular Updates: Create a monthly or quarterly internal newsletter that includes updates on marketing activities, results and industry trends. Use this platform to share success stories and explain how marketing efforts are contributing to the firm’s objectives.

• Quarterly Presentations: Secure 20 minutes every quarter to formally present to leadership and create presentations that connect marketing activities directly to the firm’s goals, such as client retention, market expansion and revenue growth. Show how marketing supports these objectives with clear, relevant examples.

CHALLENGE: Competing Priorities

Partners are juggling multiple responsibilities, such as client service, compliance and operational efficiency. Marketing initiatives might be viewed as less critical compared to these immediate operational demands, making it difficult to secure their focus and support.

SOLUTION: Align Marketing with Firm Goals

To ensure marketing is seen as a priority, it’s essential to align marketing initiatives with the firm’s overall strategic objectives. Demonstrating how marketing contributes to achieving these goals can help garner partner support.

• Strategic Alignment: Develop marketing plans that directly support the firm’s strategic objectives, such as client retention, market expansion and service diversification. Use the same language from partner documentation to clearly communicate how marketing activities will help achieve these goals.

• Integrated Planning: Involve partners in the marketing planning process. Their input can help ensure that marketing strategies are aligned with the firm’s priorities and gain their buyin from the outset.

• Performance Metrics: Use relevant performance metrics to demonstrate the impact of marketing on the firm’s strategic objectives. Highlighting successes and areas of improvement can help maintain partner engagement and support.

• Clear Communication: As mentioned above, regularly update partners on the progress and results of marketing initiatives and use data to tell the story. Show how these efforts are helping to achieve the firm’s goals and address any concerns they may have.

CHALLENGE: Budget Constraints

Your firm likely has limited budgets and strict financial controls, which makes it challenging to justify new marketing expenditures. Even if partners recognize the value of marketing, securing a sufficient budget can be difficult.

SOLUTION: Implement Pilot Programs

Starting with small, pilot marketing programs can demonstrate success and build confidence among partners.

This approach allows you to show the impact of marketing initiatives on a smaller scale before requesting larger investments.

• Targeted Pilots: Choose specific service lines or market segments for pilot programs. This focus allows for clearer measurement of results and more compelling case studies.

• Measure and Report: Establish KPIs prior to the pilot launch and carefully measure the results of pilot programs. Report back to the partners and highlight successful outcomes and lessons learned to build confidence in marketing efforts.

• Scalability Plans: Develop a plan for scaling successful pilot programs. Show how the lessons learned and results achieved can be replicated and expanded to benefit the broader firm.

• Cost-Benefit Analysis: Conduct a cost-benefit analysis for pilot programs to demonstrate their financial viability and potential return on investment. This analysis can help justify further budget allocations.

Securing partner buy-in for marketing programs and budgets is essential for driving the growth and maintaining a competitive edge for your firm. Despite the challenges discussed above, these hurdles can be effectively overcome, and your team can build trust and demonstrate the strategic value of your efforts. This comprehensive approach not only ensures the successful implementation of marketing programs but also paves the way for sustained business growth and innovation, ultimately providing the resources needed to continue innovating and advancing the firm's marketing capabilities.

Siouxsie Jennett, CEO, Mambo Media. Contact at siouxsie@mambomedia.com.