Statista.com forecasts revenue of payroll service firms in the United States to reach $41.1 billion by 2020 – nearly double industry revenues of $25.7 billion in 2010. This growth suggests immense opportunity exists for the growing number of small and mid-sized payroll software and service firms throughout the United States. But make no mistake – there’s fierce competition for those dollars and much of your business’s success will depend upon your marketing savvy.
Whether you’ve engaged the services of an agency or you’re handling it in-house, here are four low-cost, high-exposure ideas for building your payroll company’s marketing brand.
- Get social: Social media is a must for just about any industry out there, including payroll and HR firms. They’re free to join and most offer affordable upgrades and targeted marketing functions. Of course, not social media sites are equally effective for various fields. For payroll firms, LinkedIn offers the highest potential return on your time and strategic marketing efforts. Surveys show that 44 percent of all B2B relevant leads come from Linkedin and roughly half of B2B buyers research vendors by reading LinkedIn profiles. For more social media information, read our past blog: 5 Top Social Media Sites for Payroll Service Bureaus and Other B2B Marketers.
- Commuters take notice: If your geographical target markets have significant public transportation options, then you have a built-in captive audience. Advertising in commuter hot spots such as subway cars and stations, busses or taxi cabs afford your payroll software and services firm exposure to thousands of business owners, managers and entrepreneurs throughout the day, particularly during the morning and afternoon commutes. Roadside billboards, whether via billboard companies or agreements with landowners along heavily trafficked roadways, also offer high-exposure opportunity.
- Go on the air: Local radio and TV stations as well as online audio and video business-centric podcasts offer a range of marketing options. Purchase airtime for a pre-produced commercial to air during breaks; sponsor a particular show that reaches business decision makers; or ask how to land mentions by trusted media personalities. Another top option is to build relationships with media producers and personalities who may call on you as a subject matter expert when covering relevant issues. Take a proactive approach by sending press releases or even informal pitches of stories that require sources with your expertise.
- Get connected: Still one of the best ways to promote your business is the low-tech, in-person approach. As cliché as it may sound, ultimately, people do business with people they like. That’s why “old fashioned” networking will always remain “in fashion.” Join your local Chamber of Commerce and keep tabs on undoubtedly numerous business networking groups and events going on in your target areas.
Of course, you’ll need to back up your marketing savvy with services based on a highly effective suite of payroll and HR software. That’s where partnering with Apex HCM comes in. Call 877-750-2739 or request a demo online to learn how we can help further your payroll firm’s success.