NEW YORK, April 24, 2014 /PRNewswire/ -- Vizibility (http://vizibility.com), the leader in mobile business cards, today announced the results of an industry survey to understand how professional services marketers measure the success of their marketing activities. To illustrate the findings, the results have been released as an infographic.
Marketers within professional services firms reported that:
- The top metric of success is firm revenue/profit margin, followed by client satisfaction then new business development.
- The top three most important marketing investments for professional services firms are the website, branding and public relations, with the website being the only one ranked as "critical."
- Print advertising and blog(s) were ranked as "not at all important."
- Firms who are not successful in meeting their revenue goals measure success the same way as successful firms, but they have different priorities for where they invest in marketing.
"When professional services marketers say their websites are critical marketing tools, they're predominately referring to the bio pages which often garner 60%-75% of most website traffic," said James Alexander (http://viz.me/james), Vizibility's founder and Division President. "And because revenue was cited as the top measure of success for marketing activities, we correlated 21 specific website bio page features of the NLJ 350 against revenue per partner. We found that firms with four specific bio page features have an average of 39.9% higher revenue per partner than firms that don't. In fact, further analysis revealed that these four potentially high-impact features are also among the least implemented of all the 21 features reviewed."
Specifically, law firms with the following four website bio page features have an average of 39.9% higher revenue per partner than firms that don't ($669,499 vs. $478,529):
- Multimedia Links or RSS Feeds: include links to RSS feeds or other multimedia resources for the site visitor to learn more about the professional.
- Languages: let potential clients know in which language(s) each of your professionals are fluent.
- Share: provide links to share the professional bio in email or social media.
- Mobile Websites: provide a mobile-optimized version of your website, including online bios, for your site visitors who are using mobile devices.
It is important to recognize that the presence of these features and the higher-than-average revenue per partner are highly correlated but not necessarily causal. Among the data examined, there was no evidence validating (or invalidating) that the presence of these four features lead to higher revenue per partner Regardless, the correlation can serve to help professional services marketers make the case to management that their firms should look carefully at adding or maintaining these types of features.
Vizibility will be hosting a free webinar on Wednesday, April 30, 2014, at 12pm EDT to dig deeper into the survey results and see how to improve your website's bio pages, including adding these four key features. You can register for the webinar at http://webinar.vizibility.com.
About Vizibility LLC
Vizibility LLC, a division of ALL-STATE LEGAL, delivers the first enterprise-class identity management and engagement platform for mobile. Vizibility's highly acclaimed vizCard™ addresses today's reality that the first impression a company or individual makes is often online, and in many cases on a mobile device. Vizibility enables people to package and share their online presence to make powerful, accurate and lasting impression. ALL-STATE customers enjoy a bottomless box of business cards so they never rung out of cards again. Vizibility operates under U.S. Patents 7,831,609, 7,987,173, 8,095,534, 8,271,650, 8,275,837, 8,280,879 and 8,290,941. Other patents pending.
About the Survey Methodology
In February and March of 2014, Vizibility and ALL-STATE LEGAL sent formal invitations by email to the membership of the Legal Marketing Association (LMA), membership of the Association of Accounting Marketing (AAM), emails to current customers who have marketing responsibilities within their firms, as well as sourcing responses from SurveyMonkey's targeted database. All sources outside of LMA and AAM included only one individual per firm. The survey filtered out responses from vendors that service the legal and accounting industries, as well as attorneys and accountants who do not have marketing responsibilities within their firms. We received 392 total responses, of which 234 (59.7%) were from legal marketers, and 158 (40.3%) were from accounting marketers. The 21 bio page features were inventoried from the public websites of the NLJ 350 during the same period. Law firm revenue and partner figures were assembled from publicly available sources and include a mix of 2012 and 2013 data. The bio page features of all 350 firms were included in the stack ranking of most implemented features but only firms with reported revenue were included in the correlation of features-to-revenue per partner.
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