More than ever before, Professional Services firms need to build their brand.
Our experience of the Professional Services sector could be likened to an apple barrel; full of companies with similar services and similar business models waiting for clients to come along and ‘pluck’ them from a crowded market place of similar looking firms. Very few firms in this market work hard to offer a stand out point of difference – and often that’s because they don’t really appreciate the point of difference in their service.
So how do the likes of IFAs, lawyers and accountants attract potential new business away from their competitors? In the past it has been enough for firms to simply promise a higher level of service; there’s been enough work to go around. However, just providing a good service no longer guarantees a client will choose to work with a particular firm – after all, this is expected by the very nature of it being ‘Professional Services’. More and more clients are looking for that red apple amongst the barrel full of greens which looks just that little bit more juicy than the others.
Businesses and consumers are being offered more choice than ever and they’re more educated as to what they can expect from services they choose to invest in. They’re doing more research and talking to each other about the pro’s and con’s of each offering before making a decision. A firm with a history of great service that has a clear personality, that is adding value in innovative ways and has it’s finger on the pulse will have far more appeal than a firm with a history of great service that looks tired and hasn’t moved with the times.
Defining your meaningful difference then communicating it well is the key. By not communicating with your audience, in an engaging and stimulating way, professional services firms are paving the way for their competitors to step in and grab the lions share of tomorrow’s business.
If you’d like a chat about how we can help you find the meaningful difference in your firm – then tell everybody, give us a call.
