According to the results of a survey undertaken by BTI Consulting Group, 72% of professional services firms’ clients indicated that they want to give feedback on their service provider’s performance. Yet only 30% of firms actually ask their clients for feedback in any meaningful way.
A common question in business is whether it is better to be a generalist, full-service practitioner or a niche practitioner? As with so many things in professional services, our answer to that question is a cop-out: "it depends".
This post is inspired by Kurt Vonnegut’s ‘8 Rules of Writing’. If you’ve never heard of Vonnegut’s 8 Rules, Rule #1 is about as perfect an example of a rule that should apply to your business development activities. Read here for this #1 tip and 9 more!
Partner retreat season generally happens a couple of months before the end of the financial year, and regardless of whether it’s your first partner retreat or your 20th, you need to make sure you follow a planned strategy to maximise your networking opportunities at the getaway.
The holy grail of professional services firms is ensuring we provide excellent client service. Provide excellent client service and, in all likelihood, our clients will keep coming back to us. Provide a rubbish client service, and there’s a very good chance you’ll never see that client again!
Business development is not only critical to the growth of your practice, but also to its sustainability. Yet many small-to-medium-sized professional services firms see business development as an administrative burden, if not a headache.
Every professional services firm is fundamentally a person-to-person business. As a result, a large part of our ongoing book of business is reliant on the referrals we get from our trusted relationships.
Without trust, you don’t have a long-lasting relationship with your customer(s). Without it, you are transactional, always looking for that next deal and customer. Implementing our 10 tips to build a trusting relationship with your customers will help deliver repeatable revenue opportunities.
Dynamic pricing adjusts pricing to real-time circumstances around the demand for a service or product. Options include surge pricing and special occasion pricing. Understanding the how, when, what and who, where certain events will create demand, actually gives you a competitive advantage.
These key questions provide a useful starting point for thinking about how you can engage at a deeper level with those clients you wish to be doing more work with.
“Relationship Value” exists between you and your client if you provide your client with an economic benefit, a technical benefit, a service benefit and a social benefit. In this article, we look at these in more detail and provide our top tips on the ways professional services firms can create and enhance the Relationship Value they have with their clients.
As your outsourced business development provider, at GSJ we will tell you it’s no longer the right time to be chasing the last of the Christmas feast that was; you need to FOCUS your business development efforts for 2024.