{"id":39630,"date":"2021-08-05T08:00:35","date_gmt":"2021-08-05T12:00:35","guid":{"rendered":"https:\/\/hingemarketing.com\/?p=39630"},"modified":"2023-01-03T14:39:07","modified_gmt":"2023-01-03T19:39:07","slug":"keeping-your-business-alive-and-relevant-digital-disruption-for-professional-services-marketing","status":"publish","type":"post","link":"https:\/\/hingemarketing.com\/blog\/story\/keeping-your-business-alive-and-relevant-digital-disruption-for-professional-services-marketing","title":{"rendered":"Keeping your business alive and relevant: Digital Disruption for Professional Services Marketing"},"content":{"rendered":"<p>As many executives leading professional services firms are simultaneously wrestling with keeping their businesses alive and staying on top of their kids\u2019 homework, there are some valuable lessons we can learn from a category of firms we at Hinge call \u201cdigital disruptors\u201d: professional services firms that generate 66% or more of their new business pipeline through digital means. It\u2019s not that digital on its own is the secret sauce. The secret sauce is relevance. Digital just helps bring instant, 24&#215;7, no travel required, cost effective visibility to that relevance.<\/p>\n<p>Even in the days preceding Covid-19 and the new business environment this pandemic has created, we\u2019ve been studying the behavior of an elite group of professional services firms that have managed normal marketplace ebb and flow <em>and<\/em> achieving high growth \u2013 to the tune of 20%+ annual growth for 3 consecutive years or more. While firms in this high-performing category have different business models, serve different audiences, and span across all of professional services (i.e. consulting, IT, AEC, accounting &amp; finance, government contracting), they have one habit in common: digital disruption.<\/p>\n<p>Of course none of us really knows how much of what we\u2019re all experiencing today is going to be here for the long-haul. <a href=\"https:\/\/hingemarketing.com\/library\/article\/inside-the-buyers-brain-third-edition-executive-summary\" target=\"_blank\" rel=\"noopener noreferrer\">One of our recent studies<\/a> reports on certain patterns that began emerging 3-5 years ago that have not only prevailed, but have become more prominent in this pandemic environment <em>and<\/em> are likely to stay.\u00a0 Here are a few of those:<\/p>\n<ul>\n<li><strong>Finding firms through referral<\/strong> is on the decline. In 2013, more than 70% of buyers reported turning to their network when they needed a new service provider. While referrals remain the top search method, in today\u2019s world, less than 60% of today\u2019s buyers ask for referrals \u2014 <strong>a 15% decrease<\/strong>.<\/li>\n<li>While referrals are on the decline, they are still the primary search method of professional services buyers. But, <strong>finding firms through online search<\/strong> has surged in adoption. Nearly 1 in 5 buyers today look for firms to address their key challenges through online search \u2013 <strong>an 11% increase<\/strong> from 2013.<\/li>\n<li><strong>Expertise seals the deal<\/strong>. At the end of the day, while firms use several different criteria as they are looking for firms, building their lists and then narrowing those lists, when it comes to final selection, expertise is the #1 criteria over reputation, cost, and relationship.<\/li>\n<li>It\u2019s all well and good when <em>you<\/em> know you\u2019re the top expert, but the sad reality remains that it\u2019s hard to get others to know that. In fact the last trend I want to bring up is that it\u2019s getting <strong>harder to be visible<\/strong>. Beyond an intuitive feeling, buyers validate this. Today, a mere 16% of buyers think their service provider is highly visible in the marketplace \u2014 a more than <strong>25% decrease<\/strong> from the 2013 study.<\/li>\n<\/ul>\n<div class=\"cta-link\">\n<p><a href=\"https:\/\/hingemarketing.com\/library\/article\/2020-high-growth-study-executive-summary\" target=\"_blank\" rel=\"noopener noreferrer\">Download the 2021 High Growth Study<\/a><\/p>\n<\/div>\n<p>Now back to the digital disruptors.<\/p>\n<p>Professional services firms that caught onto these trends and then built their marketing programs with digital disruption in mind are in fact the firms that not only have high visibility, they have <em>meaningful<\/em> visibility \u2013 visibility around the type of expertise relevant to their client\u2019s top challenges. Findings in our recently release <a href=\"https:\/\/hingemarketing.com\/library\/article\/high-growth-study-2021-executive-summary\" target=\"_blank\" rel=\"noopener noreferrer\">High-Growth Study<\/a> illustrate the characteristics and habits of these digital disruptors:<\/p>\n<h4>1 &#8211; New business pipeline is primarily digital<\/h4>\n<p>Firms that generate more than 66% of their leads from online sources grow more than twice as fast as companies that generate less than 33% of the leads from online sources.<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39631\" src=\"\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM.png\" alt=\"\" width=\"530\" height=\"373\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM.png 871w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-300x211.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-768x540.png 768w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-189x133.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-310x218.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-230x162.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-194x136.png 194w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-107x75.png 107w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-500x351.png 500w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-60x42.png 60w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.02.10-AM-490x344.png 490w\" sizes=\"auto, (max-width: 530px) 100vw, 530px\" \/>\n<h4>2 &#8211; Marketing teams have stronger skills in social media, research &amp; and SEO<\/h4>\n<p>Marketing departments of digital disruptors have a skills advantage in 3 areas that are critical to successful online lead generation. They are savvy social media dialoguers, they understand the science around keywords and use SEO to build visibility for their firms and their content, and they know how to get their content published in outside publications where their audiences are reading (outreach). They also have a strength in audience research, so they are bringing key insights around their audience behavior that helps drive efficient and relevant marketing.<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-39632\" src=\"\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM.png\" alt=\"\" width=\"793\" height=\"467\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM.png 793w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-300x177.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-768x452.png 768w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-189x111.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-310x183.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-230x135.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-231x136.png 231w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-127x75.png 127w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-500x294.png 500w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-60x35.png 60w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-30-at-9.03.52-AM-490x289.png 490w\" sizes=\"auto, (max-width: 793px) 100vw, 793px\" \/>\n<div class=\"cta-link\">\n<p><a href=\"https:\/\/hingemarketing.com\/library\/article\/2020-high-growth-study-executive-summary\" target=\"_blank\" rel=\"noopener noreferrer\">Download the 2021 High Growth Study<\/a><\/p>\n<\/div>\n<h4>3 &#8211; Marketing programs prioritize promotion of expertise<\/h4>\n<p>Marketing programs of digital disruptors prioritize educating audiences and providing valuable, informative content over promotional and overly salesy collateral. Relatively speaking, these firms are 3x more likely to invest in digital advertising, almost 2x more likely to offer downloadable content, and make greater use of social media, email campaigns, SEO, and open-access content such as blogs.<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39633\" src=\"\/wp-content\/uploads\/2020\/04\/Picture1.png\" alt=\"\" width=\"548\" height=\"386\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1.png 795w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-300x211.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-768x541.png 768w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-189x133.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-310x218.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-230x162.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-193x136.png 193w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-106x75.png 106w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-500x352.png 500w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-60x42.png 60w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2020\/04\/Picture1-490x345.png 490w\" sizes=\"auto, (max-width: 548px) 100vw, 548px\" \/>\n<h4>4 &#8211; Traditional marketing techniques act in concert with digital techniques<\/h4>\n<p>Digital disruptors aren\u2019t all or only digital. These firms incorporate traditional marketing techniques that complement their digital campaigns, and vice versa. The investment they make in traditional techniques such speaking and networking for example brings excellent visibility to their digital assets (who doesn\u2019t look up a speaker\u2019s website after an impressive performance?), and the stronger their digital footprint is, the easier it is for them to be tapped as speakers. They also show a propensity to reinforce their digital marketing initiatives with phone marketing and strategic partnerships.<\/p>\n<div class=\"cta-link\">\n<p><a href=\"https:\/\/hingemarketing.com\/library\/article\/high-growth-study-2021-executive-summary\" target=\"_blank\" rel=\"noopener noreferrer\">Download the 2021 High Growth Study<\/a><\/p>\n<\/div>\n<p>There are a couple of overarching lessons we can take from these digital disruptors.<\/p>\n<p>First and foremost, there is a strong case for going digital.\u00a0 Our data shows a strong positive correlation generating leads through digital means and rapid growth. Buyers of professional services now more than ever need fast, efficient ways to learn about you, connect with you, and ultimately work with you.<\/p>\n<p>Second, going digital is only part of the story. Equally important is building your marketing program around a set of digital and traditional techniques that work in concert to support each other. If you blog and that\u2019s all you do, that will not get you anywhere, even though it\u2019s one of the marketing techniques digital disruptors adopt. A blog must be supported with well-researched keywords, a website that makes your expertise abundantly clear, and exposure for your blog though channels other than just your website, such as social media.<\/p>\n<p>Lastly, if you\u2019re not relevant, even the best digital marketing will have little impact. Digital disruptors prioritize researching their audiences so that as they develop their marketing programs, they have assurance that they are writing, speaking, and using messaging in a way that gets at the heart of what those audiences are grappling with and reflects how they make their buying decisions.<\/p>\n<p>If you\u2019re interested in seeing more of the findings around digital disruption in professional services you can <a href=\"https:\/\/hingemarketing.com\/library\/article\/high-growth-study-2021-executive-summary\" target=\"_blank\" rel=\"noopener noreferrer\">find the study here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As many executives leading professional services firms are simultaneously wrestling with keeping their businesses alive and staying on top of their kids\u2019 homework, there are some valuable lessons we can learn from a category of firms we at Hinge call \u201cdigital disruptors\u201d: professional services firms that generate 66% or more of their new business pipeline&#8230;<\/p>\n","protected":false},"author":86,"featured_media":39634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[446,397],"class_list":["post-39630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-business-development","tag-research"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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