Top Strategies Professional Services firms use to win new business

Review the top strategies that professional services firms implement to attract and win net new business in a fractured and competitive market. 

Building a successful professional services company hinges on consistently attracting, winning, and retaining new clients. As a partner in a professional services firm, you may find yourself at a standstill when it comes to generating new business. It's a challenging situation—you need new clients to sustain your business, but your time is consumed servicing existing clients. 

Time pressures relegate new business development activities to second or third priority.

As a seller biller, your ability to balance billable utilisation is key, and we completely understand this dilemma.

We don't expect you and your fellow partners to delve into tasks like producing thought leadership articles, improving search engine rankings, email campaigns, etc. - at least not until we've demonstrated the positive outcomes that can arise from such strategies...

VIDEO: Balancing Billable hours with Business Development

The following proven strategies (and top 5 tips) have been successful for numerous professional services companies. They won't detract from your core business responsibilities and don't require a significant investment. We highly recommend partnering with a specialist sales agency like us (yes, we would say that) to implement these strategies effectively. With our team's resources and expertise, we can tailor these strategies to ensure your business's success.

1. Developing a Growth Strategy

A Growth Strategy is the broad direction you want the firm to travel and provides the initial filter to help prioritise time investments for partners and senior associates. We recommend using the proven Ansoff Matrix to assess how the firm should grow organically. 

Knowing and articulating the most suitable growth strategy will save time and money as activities that aren't core are quickly discarded while focusing all business development and market resources on supporting the plan.

Learn more about Ansoff's Matrix 

One of the foundations for creating your growth strategy is documenting your Ideal Customer Profile (ICP)—this is a key artefact that will help you position and communicate with your target audience.

Tip 1: Implement A Comprehensive Strategy

A growth strategy is a broad term that can mean different things to different people. When we talk about a growth strategy, we mean a coordinated, targeted direction guiding activities such as networking, conferences and events, advertising, thought leadership, social media, SEO, and email.

Of course, every firm does these activities; however, they don’t lead to new business if they are inconsistent and ad hoc. The techniques must be combined into a systematic strategy to succeed and have a measurable ROI.

By nature, a growth strategy is unique to your business and linked to clear financial goals. 

Tip 2: Align your Marketing Strategy

After selecting a Growth Strategy that suits your business, it's essential to refresh your marketing strategy to meet your objectives.

For example, if you decide upon a Market Penetration Growth Strategy, your focus will be on increasing market share within existing markets. This approach focuses on leveraging current products and services to capture a larger portion of the market, which can be achieved through competitive pricing, enhanced promotional efforts, and strengthening customer relationships.

By aligning your marketing strategy with market penetration, you can target existing clients and encourage them to purchase new services. This alignment involves conducting thorough market research to understand client needs and preferences and implementing targeted marketing campaigns highlighting your offerings' unique value propositions.

Your firm can maximise its reach and impact within the current market landscape, driving sustainable growth and reinforcing your competitive position.

2. Understanding your target audience

Understanding your target audience is crucial for professional services firms seeking new clients. 

By deeply understanding their target audience's needs, preferences, and pain points, firms can effectively tailor their services and marketing efforts to address these concerns.

This involves talking to existing clients and analysing the information and data to stay updated on industry trends and market forces affecting your clients' businesses.

Understanding your buyer personas and the buyer's journey is important. These allow you to socialise internally and agree on the steps target clients must take to sign up for your firm's services.

Understanding your target audience's buying steps lets you inject yourself into that journey, educate target buyers about your unique value propositions (UVP), and differentiate yourself from competitors.

Tip 3: 5 Reasons Why You Need a Content Strategy 

3. Building a strong online presence

B2B buyers are increasingly turning to professional services firms for guidance throughout their purchasing journey. As a new generation of buyers emerges, they are signalling a shift in how they source and use educational resources.

It is crucial to ensure your content is readily accessible where your buyers and target clients conduct their online research. Establishing a strong online presence is crucial for professional services firms looking to attract and engage new clients. This involves creating a visually appealing website highlighting the firm's expertise, services, and success stories. Crafting a clear and compelling value proposition that resonates with your target audience is also essential.

Improving search engine ranking or optimisation (SEO) techniques can also enhance your firm's online visibility, allowing it to be found online and driving interested prospects to your website. Professional services firms can boost their search engine rankings by optimising website content with relevant keywords, producing informative and captivating blog posts, and generating high-quality backlinks.

Additionally, leveraging social media platforms (e.g. LinkedIn & X) and online advertising can help broaden the firm's online presence and reach the target audience. Professional services firms can position themselves as industry leaders and attract new clients through consistent sharing of valuable content, active engagement with followers and strategic ad campaigns.

Tip 4: Review your website for better conversion rates

Many professional services companies benefit from giving their websites a fresh look and feel. If you haven't updated your website recently or if it looks outdated, consider adding new content and images or changing the layout.

This will help your potential clients easily navigate and find the information they need, ultimately increasing the likelihood of them reaching out to you through your online contact form or simply finding your business number so they can call.

Tip 5: Pay Per Click Advertising

Google PPC ads can be a great way to attract new customers to your business quickly. However, it's crucial to manage your PPC campaign carefully to avoid wasting money with little return. Our Google Ads team can help optimise keywords for your ads and create engaging website landing pages to convert visitors into potential clients.

3. Showcasing expertise through helpful content 

Creating 'Helpful Content' is a powerful strategy for professional services firms to showcase their expertise and attract new business. Content is simply articles, thought leadership pieces, graphics and ideas designed to resonate with your potential buyers.

By creating and sharing high-quality content, such as blog posts, whitepapers and case studies, firms can demonstrate their knowledge and thought leadership in their respective fields.

When developing a content strategy, firms must pinpoint the topics and formats that resonate with their target audience. This involves conducting thorough keyword research, analysing industry trends, and understanding their potential clients' challenges and pain points.

Professional services firms can use guest blogging opportunities and collaborate with industry peers and bodies to enhance their credibility and expand their reach. By sharing valuable insights and expertise across various content platforms, firms can position themselves as trusted advisors and attract new clients.

Let's not forget to leverage the power of video. Zoom, Loom, and Hippo are great, easy-to-use choices, perfect for creating screen recordings to add to your knowledge base and to message your clients.

Tip 6: Use blogs to increase your search engine rankings and demonstrate your expertise

Updating a blog, LinkedIn page or Twitter feed can seem like a colossal waste of time if it doesn’t yield results.

If blogging and social media fail to drive traffic, it is usually because the content is insufficiently focused. The purpose of a blog isn’t just to share company news but to address specific search queries that your potential clients are typing into Google.

For instance, if your target clients are searching for “the best accountants in Dublin” or “how do I make an injury at work claim,” then these are exactly the questions you should address in your company blog pages.

You can use social media to publicise your blog posts, encourage shares and draw attention to your business.

4. Utilising networking and partnerships

Networking and partnerships are key to helping professional services firms attract new business opportunities. Firms can connect with potential clients and establish valuable relationships by participating in industry events, conferences, and seminars. Actively engaging in conversations, listening to the needs of others, and offering assistance or advice when appropriate are essential strategies.

Moreover, forming strategic partnerships with complementary businesses can provide access to new opportunities and referrals. Collaborating with other professionals or firms that offer complementary services allows firms to broaden their reach and access new client bases.

Additionally, joining professional associations and industry-specific groups can offer valuable resources, knowledge-sharing platforms, and networking opportunities. By actively engaging in these communities, firms can enhance their reputations, receive referrals and attract new clients.

+ BonusTip: Use email with a Smart CRM to develop your relationships further and stay connected with your new contacts

Email is a highly effective strategy for increasing your client base. Build an email list by offering incentives such as event invitations or valuable content in exchange for email addresses. Use email automation tools to send personalised and targeted, personalised emails to your subscribers.

Segment your email list based on your subscribers' interests and preferences to ensure they receive relevant content. Provide valuable information, industry updates and relevant invites to keep your subscribers engaged and interested in your services.

Don't forget to optimise your emails for mobile devices, as more people access their emails on smartphones and tablets.

Analyse the performance of your email campaigns, including open rates, click-through rates and conversions, regularly to identify areas for improvement and refine your strategies.

5. Investing in client relationships

Building strong client relationships is crucial for professional services firms to attract new business. Firms can establish trust and loyalty by providing exceptional customer service, delivering outstanding work, and exceeding client expectations.

Consistent communication and feedback are essential for nurturing these relationships. Firms should actively engage with clients, provide regular updates on cases/projects, and promptly address any concerns or issues. By showing genuine interest in their client's success and consistently delivering value, professional services firms can position themselves as trusted advisors and attract repeat business and referrals.

Additionally, requesting testimonials and online reviews from satisfied clients can enhance the firm's credibility and attract new business. Positive feedback acts as social proof and can influence potential clients' decision-making.

Got questions? Send us a message 

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