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, you have to balance your time carefully, 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.
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 to implement these strategies effectively. With our team's resources and expertise, we can tailor these strategies to ensure your business's success.
An active growth strategy is a proven way of reducing the risk of your business growth slowing down. Adopting a pragmatic and personalised approach to business development will help you acquire new clients and increase your brand reputation and recognition. Further, working with our team will not involve sacrificing much time or the expense of hiring new staff.
As part of laying the foundations for creating your growth strategy you need to be document your Ideal Customer Profile (ICP) - this is a key artefact that will help your positioning and messaging to your targeting audience.
A growth strategy is a broad term that can mean different things to different people. What we mean when we talk about a growth strategy is a coordinated targeted approach to guide activities such as advertising, blogging, social media, SEO, and email. Of course, anyone can get involved in these activities. However, these activities don’t tend to lead to new business if they are not consistent. The techniques need to be drawn together into a systematic strategy in order to be successful.
By nature, a growth strategy is unique to your business and linked to clear financial goals. You may have attempted various promotional or marketing techniques before, but without clear strategic objectives and the people to implement them, they are unlikely to have been very successful.
Understanding your target audience is a crucial step for professional services firms looking to win new clients.
By gaining a deep understanding of their target audience's needs, preferences, and pain points, firms can tailor their services and marketing efforts to effectively address these concerns. This involves conducting market research, analysing customer data, and staying updated on industry trends.
Having a good understanding of your buyer personas and the buyers journey will be a key factor in the success of your business development activities and your outreach campaigns.
Additionally, understanding your target audience allows firms to identify their unique selling propositions (USPs) and differentiate themselves from competitors. By knowing what sets them apart and how they can provide value to their target audience, professional services firms can position themselves as the go-to choice in the market.
Establishing a strong online presence is crucial for professional services firms looking to attract and engage new clients. This involves creating a visually appealing and user-friendly website that highlights 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. By optimising website content with relevant keywords, producing informative and captivating blog posts, and generating high-quality backlinks, professional services firms can boost their search engine rankings.
Additionally, leveraging social media platforms and online advertising can help broaden the firm's online presence and reach a larger audience. Through consistent sharing of valuable content, active engagement with followers, and strategic ad campaigns, professional services firms can position themselves as industry leaders and attract new clients.
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 a bit outdated, consider adding new content and images or even changing the layout. This will help your potential customers 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 contact you by phone.
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.
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 the challenges and pain points their potential clients face.
Professional services firms can take advantage of guest blogging opportunities and collaborate with industry peers 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. Vidyard and Loom are both great choices, perfect for creating screen recordings and messages for your clients.
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 more about addressing specific search queries that your clients and 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 be addressing in your company blog pages.
You can use social media to publicise your blog posts, encourage shares and draw attention to your business.
Networking and partnerships are key to helping professional services firms attract new business opportunities. By participating in industry events, conferences, and seminars, firms can connect with potential clients and establish valuable relationships. 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 professional services 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.
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 emails to your subscribers.
Segment your email list based on your subscribers' interests and preferences to ensure that 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.
Building strong client relationships is crucial for professional services firms to attract new business. By providing exceptional customer service, delivering top-notch work, and exceeding client expectations, firms can establish trust and loyalty.
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 process.
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