One North CEO John Simpson and Greentarget Director of Research & Market Intelligence Kevin Iredell discussed research findings from a recently conducted survey, and found that when companies hire new professional services firms, they don’t take the decision lightly. To win business, professional services firms need more than just one perfect pitch.
4. NOV 2-4, 2016
What’s Changed?!
The most quoted statistic in B2B marketing today.
Source: Corporate Executive Board
5. NOV 2-4, 2016
Results, Reputation & Relationships:
What Professional Services Buyers Are Really Looking For
As competition and buyers’ access to information within Professional Services
sector has continued to intensify, One North commissioned research to better
understand the effects of various service attributes on buyer behavior.
Research report available for download at content.onenorth.com/3rinsights
81
Total Responses
78
% Respondents with
revenue >$1.5B
46
% Respondents VP-
Level or above
6. NOV 2-4, 2016
Prospective Clients are a Proactive Bunch
12
30
35
31
12
86
0 20 40 60 80 100
Direct solicitations
Firms' websites
Articles, newsletters or whitepapers
Presentations or speeches
Advertisements
Referral from a trusted source
Indicate your preferred method for learning
about PSOs
(% of total respondents)
8. NOV 2-4, 2016
Recognize How Your Assets Work Together
Source: Hinge Marketing
30%
23%
16%
Unimpressive website
Poor quality content
No-show in online search
52%
rule out referrals
before speaking
with them
9. NOV 2-4, 2016
First Round’s Unique Approach
First Round Venture
Capital makes clients,
influencers part of their
content marketing
program with 8 topic-
oriented magazines.
10. NOV 2-4, 2016
First Round’s Unique Approach
First Round Venture
Capital makes clients,
influencers part of their
content marketing
program with 8 topic-
oriented magazines.
11. NOV 2-4, 2016
First Round’s Unique Approach
First Round Venture
Capital makes clients,
influencers part of their
content marketing
program with 8 topic-
oriented magazines.
12. NOV 2-4, 2016
Experience and Value Matter Most…
169
108
54 51
44
33 27
0
20
40
60
80
100
120
140
160
180
Experience Value Personal
relationship
Personal
referral
Price Thought
leadership
Well-known
brand
Top 3 reasons that would place a PSO in your
initial consideration set
(Weighted Average)
13. NOV 2-4, 2016
… But Firm Reputation Absolutely Matters
11
41
48
0 10 20 30 40 50 60
Firm's reputation
Professional's reputation
They are equally important
What is more important to your decision-
making process: a PSO’s overall reputation or
history, or a specific professional’s reputation
or history?
(% of total respondents)
14. NOV 2-4, 2016
The most successful marketing
highlights the experience of the
professionals in the context of the
organization.
15. NOV 2-4, 2016
Chicago “Sadhawks”
2006: Worst Franchise in Sports
(ESPN)
Worth $253M (that’s not a lot)
19. NOV 2-4, 2016
When One + One = Three
Personal and Professional brands can not only
co-exist, they thrive together
• Season Tickets: 3,400 to 14,000–with a waiting list of 4,000
• 3 Stanley cup victories in 6 years
• Second worst attendance to league best
• $1B valuation
• Forbes: “The Greatest Sports-Business Turnaround Ever”
20. NOV 2-4, 2016
Empty Promises…
12%
88%
Promised result
Past experience
Most important attribute when evaluating a PSO
(% of total respondents)
21. NOV 2-4, 2016
Show that you know why it matters,
not just that you’ve done it before.
22. NOV 2-4, 2016
Context Sets Up Your Experience
Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin
23. NOV 2-4, 2016
Context Sets Up Your Experience
Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin
24. NOV 2-4, 2016
Context Sets Up Your Experience
Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin
25. NOV 2-4, 2016
Context Sets Up Your Experience
Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin
26. NOV 2-4, 2016
Context Sets Up Your Experience
Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin
27. NOV 2-4, 2016
Quality, Experience and Personal Referrals
Quality
Personal
Relationships
Promised Results
Past Experience
Past Experience
(88-12)
Quality
(89-11)
Most important
attributes when
evaluating a PSO
(% of total
respondents)
29. NOV 2-4, 2016
Times Have Changed…
Personal
Connection
Business Value
“Personal connections and being liked helps the seller become essential. In
fact, our research found that sellers who weren't liked lost sales. However,
being liked alone was not enough to consistently win sales. Sellers who were
only liked and did nothing else still lost.”
Source: “Is Relationship Building in Sales Dead?”, by Mike Schultz, Rain Group
30. NOV 2-4, 2016
Know When to Pass…
HIGH
LOW
HIGH
PERSONAL RELATIONSHIP
QUALITY/
PAST EXPERIENCE
Reap the
rewards
High risk,
high return
Live to fight
another day
Bang head
against wall,
repeat
Your relationship may
anoint you an
invitation to the
dance. But it means
very little without the
experience to back it
up.
31. NOV 2-4, 2016
Contrary to Popular Belief, Service Trumps Price
Most important attribute when evaluating a PSO
(% of total respondents)
Client
Service
Price
72%
28%
33. NOV 2-4, 2016
Service Excellence and Price
Source: Huffington Post
Most clients will pay
more for service
excellence. But stakes
are high if promises
aren’t met.
34. NOV 2-4, 2016
Relationship Between Service and Price
• Charges 10x the competition
• Paid out only $120,000 on sales of $33
million
• Built the entire business backwards from
guarantee
Source: Harvard Business Review
35. NOV 2-4, 2016
If You Have the Experience, In-Person Is Best
21
20
15
0
44
0 10 20 30 40 50
Website
Articles, newsletters or whitepapers
Conference panel discussions or
presentations
Advertisements
In-person
Most Valuable Way PSOs Can Explain Their
Services
(% of total respondents)
37. NOV 2-4, 2016
Oh, the Irony!
B2B buyers want proof that you’ve done it before … but they
want to feel that their issue is unique.
§ “50% of respondents state that sales people are essential to them.”
§ “68% of respondents said that listening and understanding their business are VERY
important when deciding to work with a salesperson.”
Source: Leopard 2016 B2B Business Insights Report
42. NOV 2-4, 2016
Interested in Learning More?
“Marketing-driven
companies talk. Market-
driven companies listen.
There are times when
talking is appropriate.
Listening is always
appropriate.”
“Build the relationship
before asking for business.”
“An advisor that has outside
perspectives is one I want to
hire.”
43. NOV 2-4, 2016
Life’s a Pitch
An Analytical Look at Why Clients Buy
Professional Services