Most boutique firms have an awareness problem. And the most obvious solution to that problem is to do some cold prospecting.

But for a variety of reasons, we believe that’s not actually the best place to start. We believe Authority Marketing is. And in this post we’ll talk about why that is, what role prospecting should play, and how you can use both of them in tandem to get the word out about your firm.

What’s Wrong With Cold Prospecting?

There’s nothing technically wrong with cold prospecting. And it can play a role in your business development efforts. But there are some downsides.

First, your Partners and Managing Directors probably hate it. They got into the work because they like the work. They don’t like anything that feels salesy. And cold prospecting is the most salesy thing you can do.

Second, the math is rough. For every 100 cold touches you send, you might get 1-2 responses. That’s not clients - that’s just a phone call. So you have to send a LOT of messages to get any volume.

Third, if you take having a clear ICP seriously, you might not have a massive list to go after. That’s particularly true if you sell to the F1000. You’ll churn through that list awfully quickly.

Fourth, what about the 98%? The folks who get bombarded with cold emails and phone calls from other vendors, and who treat any cold outreach with a ton of skepticism? You’re relegating yourself to that pool. That’s not a recipe for building trust.

Think about your competitive set. Or the companies you admire the most. Have you ever seen a McKinsey partner slide into your DMs with a “quick question” subject line? Of course not. Because they know their ROI on that will be miniscule.

Why Authority Marketing is Superior

Now compare that to Authority Marketing.

Instead of sending spam messages, you are posting your best ideas with consistency. You’re being generous with your strongest thinking. You are teaching people about the work you do. Over time, that builds trust.

It’s a pull mechanism rather than a push. You’re inviting them into your world instead of barging into theirs.

Authority Marketing takes a long-term view. It assumes you’re in business for the next decade. It recognizes 98% of your audience isn’t in market right now. And so it shows up with humility, generosity, and confidence - trusting that when the time comes, if you’ve done the work and laid the foundation for trust building, that they’ll raise their hand when they’re ready. And when they do, you’ll be the obvious choice.

The 80/20 Rule (No, Not that One)

That said, we do believe in being proactive with outreach. We just don’t think it should be your dominant strategy.

There’s this idea in sales called “mere exposure effect.” The idea is that it takes 20-30 impressions for someone to raise their hand. But impressions can come from a variety of places - and most of those touches don’t need to be in the form of an email asking someone if they’re ready to buy yet.

And so get on their radar. You can send them a connection request (don’t worry about a note, it doesn’t help). Invite them into your world. But don’t try to get on a call - it’s just about exposing them to your ideas. I know it’s tempting. But you can’t microwave trust.

Instead, 80% of your touches (at least) should be in the form of Authority Marketing. LinkedIn posts as your primary tool. But also long form articles. Podcasts. Speaking at conferences. Always filled with valuable ideas, tactical advice, and useful frameworks or tools. Direct calls to action should be rare, and when they happen should ideally still be offering something of value.

The other 20% can be more proactive outbound touches. But they should be targeted. Surgical. Highly relevant to the specific person and specific company. And always about adding value.

Examples could be sharing an article that you or someone else wrote that speaks directly to an issue you know they’re struggling with. It could be an invitation to participate in a podcast interview. It could be an invite to a small dinner with their peers. It could be sharing some highly researched, detailed information specifically about their business. It could be an introduction to someone who they’d really like to meet. It could be a note with a bottle of champagne congratulating them on their promotion.

We call this Authentic Outbound. And when coupled with a heavy dose of Authority Marketing, we believe it creates a fantastic one-two business development punch.

Prospecting Isn’t Bad. But The Execution Usually Is.

There’s nothing wrong with prospecting when it’s done thoughtfully, and with a desire to serve. But, at least for professional services, it works best when done in tandem with a consistent Authority Marketing program.

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