{"id":46962,"date":"2022-09-14T09:28:56","date_gmt":"2022-09-14T13:28:56","guid":{"rendered":"https:\/\/hingemarketing.com\/?p=46962"},"modified":"2022-11-11T13:37:26","modified_gmt":"2022-11-11T18:37:26","slug":"four-professional-services-findings-from-our-inside-the-buyers-brain-research","status":"publish","type":"post","link":"https:\/\/hingemarketing.com\/blog\/story\/four-professional-services-findings-from-our-inside-the-buyers-brain-research","title":{"rendered":"Four Professional Services Findings from our Inside the Buyer\u2019s Brain Research"},"content":{"rendered":"<p style=\"font-weight: 400;\">For many firms, the last two years have been the best of times. For others, they have been the worst of times. No matter where your firm ended up, you need to prepare for the next two years. You need answers to questions. How are our buyers behaving now compared to a couple of years ago? How well do we know our buyers? What are their key business challenges? How do our target audiences find our firm? What do they think of firms like ours in our industry? How do they evaluate firms like ours? How visible is our firm to them? What role does relevancy play in the selection process?<\/p>\n<p style=\"font-weight: 400;\">One of the best places to start getting your questions answered is the 4<sup>th<\/sup> edition of our pioneering study of professional services buyers and sellers called <em><a href=\"https:\/\/hingemarketing.com\/library\/article\/inside-the-buyers-brain-fourth-edition-executive-summary\" target=\"_blank\" rel=\"noopener\">Inside the Buyer\u2019s Brain<\/a>.<\/em><\/p>\n<h2 style=\"font-weight: 400;\">About the Research<\/h2>\n<p style=\"font-weight: 400;\">At the <a href=\"https:\/\/hingemarketing.com\/research-institute\" target=\"_blank\" rel=\"noopener\">Hinge Research Institute<\/a>, we\u2019ve studied more than 40,000 buyers and sellers&#8211;giving us unparalleled insight into the professional services industry.<\/p>\n<p style=\"font-weight: 400;\">Our most recent study details the perspectives of more than 1,900 buyers and 3,610 sellers of professional services. We were able to compare results between buyers and sellers across five different groups of firms:<\/p>\n<ul>\n<li>Accounting &amp; Financial Services<\/li>\n<li>Architecture, Engineering, &amp; Construction<\/li>\n<li>Consulting<\/li>\n<li>Government Contractors<\/li>\n<li>Technology &amp; Software<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">Here are four key professional services insights that came out of our latest <em>Inside the Buyer\u2019s Brain<\/em> data and findings.<\/p>\n<h2 style=\"font-weight: 400;\">Finding #1: Seller Visibility has Plunged 37% Over the Last Two Years<\/h2>\n<p style=\"font-weight: 400;\">Our research found that the perception of a highly visible firm fell from 23.1% in 2020 to 14.6% in 2022. How many opportunities is your firm not considered for because prospects do not know who you are?<\/p>\n<div class=\"cta-link\">\n<p><a href=\"https:\/\/hingemarketing.com\/library\/article\/inside-the-buyers-brain-fourth-edition-executive-summary\" target=\"_blank\" rel=\"noopener\">Download the Free Executive Summary<\/a><\/p>\n<\/div>\n<p style=\"font-weight: 400;\">There is good news. You can increase your firm\u2019s visibility. There are marketing consulting firms such as Hinge that offer programs to help improve visibility such as <a href=\"https:\/\/hingemarketing.com\/programs-services\/visible-firm\" target=\"_blank\" rel=\"noopener\">\u201cThe Visible Firm\u201d<\/a> and <a href=\"https:\/\/hingemarketing.com\/programs-services\/visible-expert\" target=\"_blank\" rel=\"noopener\">\u201cThe Visible Expert.\u201d<\/a> These types of programs not only teach you how to raise visibility for you or your firm, they also show you how to monetize that visibility.<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-46963 size-full\" src=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace.png\" alt=\"\" width=\"785\" height=\"304\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace.png 785w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-300x116.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-768x297.png 768w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-189x73.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-310x120.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-230x89.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-351x136.png 351w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-175x68.png 175w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-500x194.png 500w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-60x23.png 60w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/How-Visible-is-your-Provider-in-the-Marketplace-490x190.png 490w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" \/>\n<p style=\"font-weight: 400;\">Our research also shows that there is a relationship between relevancy and visibility. Firms that are rated as having high relevancy also rate highly for visibility. Now may be a great time to step back and assess your firm\u2019s expertise, experience, skills, and service offerings to see how well they solve the challenges your target market is facing.<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-46965 size-full\" src=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers.png\" alt=\"\" width=\"768\" height=\"508\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers.png 768w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-300x198.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-189x125.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-310x205.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-230x152.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-206x136.png 206w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-113x75.png 113w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-500x331.png 500w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-60x40.png 60w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-Challenges-of-Professional-Services-Buyers-490x324.png 490w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/>\n<h2 style=\"font-weight: 400;\">Finding #2: A Difficult Economy and Technology\/Data Issues are Growing Buyer Challenges&#8230;and Seller Opportunities<\/h2>\n<p style=\"font-weight: 400;\">As the chart above shows, \u201cDealing with a difficult economy\/competitive marketplace\u201d was the #2 challenge for professional services buyers&#8211;rising 54%. \u201cTechnology\/data issues\u201d broke into the Top 5 Challenges with an upward change of 136% between 2020 and 2022. Here is a great opportunity for your firm to increase its relevancy by providing skills, expertise, or experience that solves technology and data issues. Also, you may want to revisit how you are packaging your services and services terms to be more flexible and accommodating.<\/p>\n<p style=\"font-weight: 400;\">A competitive marketplace and technology\/data are issues that are not going away any time soon, and many of your prospects do not have the time, budget, or focus to hire all the internal skills and expertise they need. Show them it is in their best interest to rely on your firm for that expertise.<\/p>\n<h2 style=\"font-weight: 400;\">Finding #3: Buyers Highly Value Existing Relationships<\/h2>\n<p style=\"font-weight: 400;\">Take a look at the chart below.<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-46964 size-full\" src=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria.png\" alt=\"\" width=\"681\" height=\"443\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria.png 681w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-300x195.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-189x123.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-310x202.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-230x150.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-209x136.png 209w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-115x75.png 115w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-500x325.png 500w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-460x300.png 460w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-60x39.png 60w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Top-5-Evaluation-Criteria-490x319.png 490w\" sizes=\"auto, (max-width: 681px) 100vw, 681px\" \/>\n<p style=\"font-weight: 400;\">Having an \u201cexisting relationship\u201d with a vendor is now one of the top 5 methods used by buyers to evaluate professional services firms. Not only is it a top evaluation method, but with a positive change of 79%, it is top scale tipper when buyers are trying to make decisions.<\/p>\n<p style=\"font-weight: 400;\">Several factors may drive this rise. For instance, clients may be more comfortable working with partners they already know. In addition, continuing an existing relationship may feel less risky. Now is a good time to assess your <a href=\"https:\/\/hingemarketing.com\/blog\/story\/business-development-strategy-a-high-growth-approach\" target=\"_blank\" rel=\"noopener\">business development efforts<\/a> and see if it makes sense to dedicate some more time to building existing relationships versus pursuing new business.<\/p>\n<div class=\"inlineWidget yes_borders\"><a href=\"https:\/\/hingemarketing.com\/library\/article\/inside-the-buyers-brain-fourth-edition-executive-summary\" class=\"widgetLink\" ><img decoding=\"async\" src=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/2022-IBB-ExSumm-200x200.png\" alt=\"\" \/><\/a><div class=\"inlineWidgetText\"><h6>Free Research Report<\/h6><p>Inside the Buyer\u2019s Brain \u2013 Executive Summary<\/p>\n<a href=\"https:\/\/hingemarketing.com\/library\/article\/inside-the-buyers-brain-fourth-edition-executive-summary\" >Download Now<\/a><\/div><\/div>\n<h2 style=\"font-weight: 400;\">Finding #4: Surprise! Buyers May Not Be Learning About Products and Services Through Social Media<\/h2>\n<p style=\"font-weight: 400;\">Sellers are always looking for the best ways to reach, educate, and influence their target audiences. Many would assume that social media would be a primary channel to achieve this goal. We were a bit surprised when we saw the following data in our latest version of <em>Inside the Buyer\u2019s Brain.<\/em><\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-46966 size-full\" src=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work.png\" alt=\"\" width=\"725\" height=\"535\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work.png 725w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-300x221.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-189x139.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-310x229.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-230x170.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-184x136.png 184w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-102x75.png 102w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-500x369.png 500w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-60x44.png 60w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-490x362.png 490w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2022\/09\/Use-of-Social-Media-for-Work-480x355.png 480w\" sizes=\"auto, (max-width: 725px) 100vw, 725px\" \/>\n<p style=\"font-weight: 400;\">Almost all the social media platforms declined in usage from 2020 to 2022. The only platform where engagement rose was LinkedIn.<\/p>\n<p style=\"font-weight: 400;\">This research shows that while social media can round out your marketing and business development strategies, you should not consider it the primary channel to generate visibility, leads, or engagement.<\/p>\n<p style=\"font-weight: 400;\">If your team is going to dedicate time to social media, be very selective. As our research shows, most buyers are only using LinkedIn for business. There is a lot you can do with LinkedIn. Try going deep in this channel until you master it.<\/p>\n<div class=\"cta-link\">\n<p><a href=\"https:\/\/hingemarketing.com\/library\/article\/inside-the-buyers-brain-how-changing-buyer-behavior-will-impact-the-future-of-your-business\" target=\"_blank\" rel=\"noopener\">Watch the on-demand webinar, Inside the Buyer\u2019s Brain: How Changing Buyer Behavior Will Impact the Future of Your Business<\/a><\/p>\n<\/div>\n<h2 style=\"font-weight: 400;\">A Few Final Thoughts<\/h2>\n<p style=\"font-weight: 400;\">Professional services buyer behavior will continue to change in the face of today\u2019s&#8211;tomorrow\u2019s&#8211;frequent disruptions. The best way for your firm to stay relevant is by starting with research on your target audiences to understand their challenges and needs, where they look for information, and how they evaluate service providers. This type of research will validate&#8211;or challenge&#8211;your assumptions and decisions. Research, such as <em>Inside the Buyer\u2019s Brain<\/em>, should show your firm how to deliver more value than your competitors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For many firms, the last two years have been the best of times. For others, they have been the worst of times. No matter where your firm ended up, you need to prepare for the next two years. You need answers to questions. How are our buyers behaving now compared to a couple of years&#8230;<\/p>\n","protected":false},"author":157,"featured_media":46974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[397],"class_list":["post-46962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-research"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Four Professional Services Findings from our Inside the Buyer\u2019s Brain Research - Hinge Marketing<\/title>\n<meta name=\"description\" content=\"Here are four key professional services insights that came out of our latest Inside the Buyer\u2019s Brain data and findings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hingemarketing.com\/blog\/story\/four-professional-services-findings-from-our-inside-the-buyers-brain-research\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Four Professional Services Findings from our Inside the Buyer\u2019s Brain Research - 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