Top 5 Ways Buyers Find Professional Services Firms

In the day-to-day clamor to provide quality services to clients, many professional services firms aren’t the most sophisticated marketers. They spend a little money, make a few sales calls, maybe sponsor a golf tournament. And somehow, a few prospects find them. But wouldn’t it be nice to know exactly how, and why, that selection happens? To discover how consumers find professional services, my marketing firm Hinge conducted a study of 822 buyers. And we uncovered some interesting findings.

1. The Network

In our study, 71% of our respondents said that they find professional services firms by turning to their friends and colleagues—their network. We know that referrals are a powerful lead generation tool, so how do you get the network to refer your firm?

2. The Know-It-Alls

24% of our buyers felt that they already had the information they needed to find a new firm. These buyers had a small pool of candidates in mind—if they needed a new firm, they would simply choose one from that pool. Of course, it would be terrific if your firm were in this candidate pool.

3. The Ham-Strung

11% of the respondents said they had to follow a formal buying process, or had to choose from an internal short-list of approved sellers. These buyers tended to work for government agencies or large institutions with strict procurement protocols.

4. The Digital Buyers

An equal number of buyers (11%) said that they search online to find new service providers. This segment represents a huge number of potential clients and, as the digital generation increasingly takes on decision-making roles in the workplace, we expect this group to grow rapidly. To put this finding in perspective, consider this: buyers of professional services rely on online search to find new providers more than any traditional marketing approach, including tradeshows and advertising.

5. The Others

12% of our respondents fell into the category of “other.” These buyers searched for new service providers in the following ways: 4% said that service providers find them, 3% said they would check with an association or trade organization, 2% said they would use social media, and the final 3% were split among using tradeshows and conferences, placing an ad, and reviewing trade journals or business publications (1% each).

What Does It All Mean?

So now we know how buyers find professional services firms. But how can we use this information to attract more business?

At Hinge, we define a firm’s brand as the product of a firm’s reputation and visibility. By boosting your reputation and visibility, you increase your chances of being found by at least four out of five of the buyer types described above: the buyers who turn to their network for referrals (#1), the buyers who already have a pool of candidates in mind (#2), the buyers who search online (#4), and the buyers who say that service providers find them, or who rely on social media, tradeshows, or journals for advice (#5). Even group #3, the buyers with the strict procurement protocols, will be more likely to pick you if you have already been hired and vetted by other businesses, agencies, or organizations. All of this comes back to boosting your reputation and visibility.

Boosting Reputation and Visibility

In an earlier study on online marketing, we discovered that firms that generate 40% or more of their leads online grow 4 times faster than other firms. What are these firms doing differently? The answer is that high growth firms rely heavily on online marketing techniques to boost their reputation and visibility.



These high growth firms have realized that online marketing is an easy and effective way to boost both reputation and visibility. Bottom line? Professional services firms that want to be found by all five segments of buyers should strongly consider investing in an online marketing strategy—it’s relatively cheap, it works around the clock, and it has a global reach.

About the author

Lee W. Frederiksen, Ph.D., is Managing Partner at Hinge, a marketing firm that specializes in branding and marketing for professional services. Hinge is a leader in rebranding firms to help them grow faster and maximize value. Lee can be reached at [email protected] or 703-391-8870.

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is for preventing automated spam submissions.