What Does the NJ Supreme Court and Inbound Marketing Have in Common? If you follow the local industry news you know about the March 6, 2010 NJ Supreme Court unanimous decision on KPMG LLP’s previous Appellate Court negligence ruling. Big Win was the title of the article. Big Win indeed.
What does the NJ Supreme Court have in common with inbound marketing? Not much other than the ruling. It’s the publication of the ruling that is now an integral part of the future of KPMG’s inbound marketing campaign. This wave of news across various media is PR (public relations- a critical facet of inbound marketing).
I am sure KPMG LLP’s marketing department is celebrating even more than the principals of the company are. Papel Entities, their former client is probably not.
PR is an integral part of inbound marketing, and the fact that neither of the parties involved in the legal action produced it, merely being the objects of the news. KPMG will be able to utilize it in their inbound marketing efforts, mainly because it helps repair a cloud over their brand. It reassures other clients and prospective clients that they are legitimate and above board; someone the public can trust. Brand credibility has been restored.
It is information to enhance their brand without them even having to write it. Do you think that a potential client that was awaiting the outcome will now choose to work with KPMG? Most definitely. That’s the power of information, that’s the power of inbound marketing. PR is just one facet of it.
The New Jersey Supreme Court (it’s ruling at least) is a generated piece of information that can be used to develop relationships with potential clients. Although the NJ Supreme Court is not affected by the news, the parties to the suit are. Their reputations are affected, one positively, and one not so positively.
Readers feel better or worse, dependent on their buying position. As mentioned, does the client on hold waiting for the outcome now carry a better feeling about the winner? Probably so. His/her concern was unwarranted, so says the NJ SC in their ruling. Inbound marketing works the same way.
Inbound marketing has a lot in common for the reasons stated. It is information that develops a relationship over time with a reader. If information is repeatedly provided, those thinking about developing a relationship with the provider gain more and more confidence, until they are ready to conduct business.
Getting back to the basics of the NJ Supreme Court ruling, an influencer of the decision was based on the following: “The public does not understand the scope of an audit of financial statements……” Are we to assume that IF more information were readily available to the public that the Papel Entities stockholders would have been privy to essential information? “The audit is a statement about the company’s financial condition or position at a particular time. But there is an ‘expectation gap.’ The public expects the audit to go well beyond its stated scope….. Had both parties been providing information on a regular basis that was beneficial, things may have turned out differently. Information shared through inbound marketing may have aided in a different outcome.
That is exactly what inbound marketing campaigns generate; they inform the public with useful information regarding how business is done. I don’t mean providing case law and dry GAAP citing articles, but general information that aids in the buying or client / agent selection processes.
Inbound marketing is how marketing is done today. People are sick and tired of stacks direct mail, blaring television and radio ads, ill-timed telemarketing, and all of the other traditional methods. Today the overwhelming majority of the public get their product or service information from the internet. The public is searching for information to aid in basic knowledge and preparation to purchase/contract/hire.
When they are ready to make the decision, it will be made with the firm that which has developed a relationship. If your firm has been providing engaging content on a regular basis, offering free advice and useful information, they will read it. If you ask them to sign up to a newsletter or eBook, those interested will do so. That is how a business grows its consumer database today.
I am confident KPMG will be sharing their positive spin on the outcome of the Supreme Court ruling for months ahead.
