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P R O F E S S I O N A L S E R V I C E S
HOW BUYERS BUY
R E S E A R C H S U M M A R Y
Lee W. Frederiksen, Ph.D.
Study Director
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TABLE OF CONTENTS
03
04
06
12
15
18
20
22
/ At a Glance
/ Introuction
/ Selecting a Firm
/ Epaning the Relationship
/ Willingness to Refer
/ Reasons Clients Leave
/ Special Section: Rethining Client Segmentatio
/ About the Author / About Hinge
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Interviewe 137 buyers of professional services
53% government buyers, 47% private sector buyers
Services purchase inclue:
Architecture, Engineering an Construction>
Technology>
Management Consulting>
Accounting & Finance>
Topics inclue:
Firm selection process>
Competitive mareting approaches>Epaning the relationship>
Referrals>
Reasons clients leave>
A special section on strategic analysis of client
segments is inclue
AT AGLANCE
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What o buyers of professional services rms really want?
How o they mae ecisions? Whats the best way to epan
the professional relationship an garner referrals?
These are some of the questions that professional services
rm owners an eecutives struggle with every ay. The
purpose of this research is to provie some practical answers.
In this stuy, we wante to unerstan the ynamics
of the ecision-maing process throughout the life of
an engagement.
Rather than as a large number of buyers a series of
relatively supercial questions, we conucte in-epth
one-on-one interviews with a carefully targete group
of buyers. Instea of asing buyers about rm selection
in general, we crafte our questions to reveal the etails
of the selection process an how buyers wor with a rmover time.
INTRODUCTION
In this stuy, we wante to unerstan the ynamics of the
ecision-maing process throughout the life of an engagement.
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METhODOLOGy
Professional service buyers were sample from two main
groups: government buyers an private buyers.
SAMPLE BREAkdOWN
We further segmente them epening on the type of
service purchase.
WHAT SERVICES WERE YOU BUYING?
Segments Percentage
Architectural / Engineering / Construction 38.7%
Management Consulting 37.2%
Information Technology 12.4%
Accounting & Finance 11.7%
We conucte a series of 137 comprehensive phone interviews
with the buyers covering a range of topics, incluing:
Firm selection process>
Competitive mareting approaches>
Maintaining an epaning the professional relationship>
Referrals>
Reasons clients leave>
Questions inclue both open-ene iscussion items anspecic rating scales. We ase responents to thin in terms
of a particular rm they ha selecte. This encourage more
specic responses.
In some cases we were able later to follow up with the
selecte rm an get a view of the relationship from the
professional services provier. In several instances this
yiele a valuable perspective on how buyers an sellers
of professional services see things ifferently.
Private
46.7%Government
53.3%
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REAChING ThE PROFESSIONAL SERVICES BUyER
Professional services rms use a variety of approaches to
connect with potential new customers.
CURRENT MARkETING APPROACHES ExPERIENCEd
BY BUYERS
Approac Percentage
Col calls 23.5%
Email 14.0%
Networing 14.0%
direct mail 11.2%
They ont maret 8.9%
Personal visits 8.4%
Conferences 7.3%
Follow our structure process 5.0%
Eisting relationships 2.2%
As in trae pubs 1.7%
All other approaches 4.1%
How o service rms maret to prospects? Col calls, at
23.5%, email an networing, at 14.0% each, top the list as
perceive by the buyers themselves. A surprising 8.9% of
buyers report that rms are not trying to maret to them.
SELECTING A FIRM
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Insight
Whos your competitor?
We asked a limited sample
of buyers to identify all the
competitors of their current
rm. We then asked the rm
to identify all their competitors.
Both the buyer and the rm
identied similar numbers of
competitors (typically 15-20).
When we compared the two lists,
there was less than 20% overlap.
KEy TAKEAWAy
Be careful. You may be
positioning your rm against
the wrong competitors.
When ase how to improve the way that professional
services rms maret to them, buyers painte a clear
picture. To paraphrase one of the responents, I ont
want to be sol to. Have a goo unerstaning of my
situation, then sit own with me an lay out a etaile
solution. Show me how its wore before. That sentiment
is reecte broaly in the results shown below.
HOW TO IMPROVE MARkETING
Approac Percentage
Personalize unerstaning
of my situation19.9%
No high pressure sales calls 13.5%
Share relevant case stuies 12.2%
Present etaile solution 10.9%
Meet with me personally 9.0%
Show that you want our business 6.4%
Follow our structure process 4.5%
All other mareting 21.8%
The contrast is striing. Many professional services rms
are using phone calls, emails an the lie to offer services.
But buyers want a ialogue aroun solving their problems,
not another sales pitch.
IN THEIR OWN WORdS
I ont want to be sol to. Have a goo unerstaning of
my situation, then sit own with me an lay out a etailesolution. Show me how its wore before.
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SELECTION CRITERIA
Most professional services buyers start out with some
sense of what they are looing for in a rm. We ase
buyers to name their top 2-3 selection criteria whenevaluating rms.
We compile a list of over 30 ifferent criteria. To mae sense
of these ata we groupe the results into 11 focuse categories.
MOST MEANINGFUL SELECTION CRITERIA
Criteria Percentage
Epertise / technical sills 19.8%
The project team 18.1%
Firm eperience 14.9%
knowlege of my inustry / situation 12.5%
Reputation 11.1%
Firm size an reach 5.6%
Availability / eibility 5.6%
Personal relationship 4.5%
Price 4.2%
Firm management approach 3.1%
Firm resources 0.7%
We foun that Epertise/Technical Sills lea the selection
criteria, cite by almost 20% of buyers. Note that many of
the other frequently liste criteria relate to a rms ability
to complete the wor. By way of contrast, cost is ientie
as a top criterion by only 4.2% of buyers.
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PITFALLS TO AVOID
We also ase buyers what they trie to avoi whenselecting a professional services rm. This provie a
ifferent perspective on the buyers psychology.
The most frequently cite concern is that the service
provier will eliver poor results. Either the service rm
will fail to unerstan the problem or will lac the sills
an epertise necessary to overcome it.
WHAT WERE YOU TRYING TO AVOId?
Concern Percentage
Poor results 47.9%
Project team problems 38.7%
High fees / cost overrun 10.9%
Wrong size rm 9.2%
The net level of concern is with project team behavior.
They want to avoi troublesome behavior such as poor
communications, conict, rigiity or arrogance.
The focus then shifts to concerns regaring uncontrollecosts or hiring a rm that is the wrong size too small to
perform or too large to care.
Not surprisingly, these are many of the same reasons
buyers eventually re their rms. In the hiring process,
buyers are trying to avoi situations that have been
troublesome in the past.
IN THEIR OWN WORdS
If I get any whiff of arrogance, Im just not going to hire them.
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TIPPING ThE SCALE
Another way to unerstan the ecision-maing process is
to focus on the factors that actually tip the scale in favor
of a specic rm. To perform this analysis, we compare
buyers responses to what tippe the scale against the
original selection criteria. What we learne was that most
criteria became less important in the nal selection than
their original raning woul inicate.
In fact, only four criteria too on greater signicance
as the selection process unfole. These criteria are
Price, Availability/Fleibility of the rm, Senior-level
Commitment/Consistency (are the people who sol the job
available to o the actual wor?) an disappointment with
other rms uner consieration.
WHAT TIPPEd THE SCALE?
Price
Availability / eibility
Senior-level commitment / consistency
disappointment with alternatives
Insight
Why does price so frequently
tip the scale?
Does the old stereotype,
buyers are liars, hold true
and buyers underplay the
importance of price when
identifying important selection
criteria? That may be true in
some cases, but it is at least as
likely that professional services
rms are failing to differentiate
themselves. When competing
rms are perceived as equivalent,
a buyer will usually pick theleast expensive option.
KEy TAKE AWAy
Make sure you know how to
differentiate your rm or you will
be forced to compete on price.
IN THEIR OWN WORdS
The people who pitche the business were the same people
who woul be oing the wor. That was ey for us.
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WhAT DO BUyERS REALLy WANT?
After a careful analysis of buyers responses, we conclue
that buyers want professional services rms to provie
answers to just three funamental questions:
1 / Can ou x m problem?
The bul of a buyers selection criteria an process
is aime at etermining whether a prospective rm
can solve their problem. do they unerstan my
issues? Have they solve similar problems in the
past? does the specic team have the necessary
sills an eperience? This is the threshol issue.
If a rm cant convince the buyer that it can solve
the problem, that rm will not be selecte.
2 / Will ou make m life easier?
Once the threshol of basic qualications has been
crosse, the focus shifts. Will you mae my life easier
or more ifcult? At this point cost, availability,
eibility an customer service come into play. If
two or more rms are perceive as being equally
capable of solving the problem, the choice then
hinges on these secon-level consierations.
3 / Do I enjo ou as a person?
Before a nal ecision is mae, criteria relate to
the quality of the personal relationship become
important. do I lie this person? Will I enjoy woring
with them? If the rst two levels are reasonably
comparable, the selection will be mae on personal
relationships or rapport. These relationships, while
important, are never a substitute for the ability toget the job one.
IN THEIR OWN WORdS
They listen an unerstan how we operate... have built a
relationship of trust.
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AWARENESS OF SERVICES OFFERED
do your clients unerstan the range of services you offer?
When we ase buyers whether they were aware of the
services offere by their current rm, a large majority of
buyers (63.7%) sai they were not.
AWARE OF SERVICES OFFEREd BY CURRENT FIRM
INTEREST IN ADDITIONAL SERVICES
We then ase buyers if they ha an interest in any new
services from their current rm or a competitor. More than
two out of three responents (68.0%) were intereste in
one or more new services.
dESIREd SERVICES FROM ExISTING FIRM
EXPANDING ThE
RELATIONShIP
Yes
36.3%
No
63.7%
None
32.0%
One or more
new services
68.0%
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To chec the relevance of this interest we contacte those
incumbent rms we coul ientify. We then presente them
with the list of esire services an ase them if their rm
currently offere these services. The results were striing.In over 85% of the cases, the service that the client wante
was alreay offere by their current rm but the client
int now it.
dESIREd SERVICES ALEAdY OFFEREd
Its easy to unerstan why a satise client might turn to
one of your competitors for a service you provie. In many
instances, they ont now better.
Not offered
14.6%
Already offered
85.4%
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IN THEIR OWN WORdS
Have a senior person sit own with me an iscuss my
business situation. If there is a way they can help me, maea recommenation.
OFFERING NEW SERVICES
When introucing new services, rms announce their
new offerings in newsletters, on their website, in press
releases or at trae shows. These are all legitimate ways
to communicate to your maretplace, but your clients
ont favor them. In fact, only about 20% of currentclients favore any of these moes of communication for
communicating aitional services.
OFFERING NEW SERVICES
Approac Percentage
Senior person maespersonal visit an
iscusses business situation an maes
recommenations
45.4%
Senior person maespersonal call an
iscusses business situation an maesrecommenations 15.9%
Senior person senspersonal email an
iscusses business situation an maesrecommenations
13.6%
Follow our structure process 4.5%
All other maretinge.g., direct mail, newsletters, website,
trae show
20.4%
With very minor variations this sentiment was wiely
share: some buyers preferre to have this ialogue by
phone (15.9%) or email (13.6%) but the basic precept ofthe conversation was consistent across the vast majority
of responses.
Among government buyers, however, the response was a
bit ifferent. A small percentage (4.5%) of buyers wante
their proviers to follow a structure acquisition process
rather than engage in a iscussion of nees. Anecotally,
this pattern tene to be foun in buyers who were at a
relatively low level in their respective organizations.
Insight
Whos job is it to gure
out how your services can
help your clients?Well, if
you believe its your clients
responsibility to ask for the
services they need, you miss
a lot of opportunities. They
dont even know what you
do! How about your project
manager? Project managers
know the client, but they are
focused on delivering results;
when operational priorities
conflict with business
development, operations
always win.
KEy TAKE AWAyYou cant leave it to the
project manager. Be sure to
assign a senior person who
can focus on the clients
organization and identify
opportunities to help your
client achieve their objectives.
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Almost everyone recognizes the value of referral business.
It can a tremenous creibility an marely shorten
the business evelopment cycle. So how willing are clients
to mae referrals? As it turns out, most are quite willing.
MAkING A REFERRAL
Rating Percentage Alread Referred
9 10 66.9% 79.6%
7 8 24.2% 52.9%
6 or less 8.9% 0.0%
We assesse their willingness using a 0-10 probability-to-refer
scale base on the wor of Reichhel an others. 1 About
two thirs of buyers (66.9%) rate their willingness to refer
as a 9-10. These are the most liely to refer an almost 80% of
this group has alreay mae one or more referrals.
Another quarter of buyers rate their willingness to refer
a 7 or 8. Slightly over half of this group (52.9%) ha mae
a referral. The remaining 8.9% ha mae no referrals.
PERCENTAGE ALREAdY REFERREd
WILLINGNESS
TO REFER
Private
Buyers
80.8%
Government
Buyers
55.1%
1 The Ultimate Question, Fre Reichhel, Harvar Business School Press, 2006.
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IN THEIR OWN WORdS
It came up in casual conversation. A subcontractor of
ours neee help, so I mae the referral.
While the willingness to refer was quite consistent across
the various buyers groups, we learne that Government
buyers were less liely to have alreay mae a referral.
To unerstan why, it helps to loo at the circumstances
uner which professional services buyers mae referrals.
WHEN dO YOU REFER?
Circumstance Percentage
Reactive
Frien or colleaguease me
45.6%
Formal internal
request12.3%
Proactive
Came up in
conversation28.1%
I brought it up 12.3%
Topic at inustry event 1.8%
In almost 60% of the cases the referral is mae in response
to a request, either a formal internal request (12.3%) or an
informal request from a colleague (45.6%). In short, someone
ase for a recommenation. The remaining 42% of referrals
are more proactive, with the buyer either bringing it up or
offering it in a conversation or inustry event.
Insight
What is a reasonable
expectation for referrals
from a satised client?
In this sample, about 60%
of the referrals were made
within the last 6 months.
Another 12% were made
between 6-12 months ago.
The remaining 28% of
referrals were made at least
a year ago.
KEy TAKE AWAy
As a rule of thumb, you should
target two referrals a year
from each active source.
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PERCENTAGE PROACTIVE REFERRALS
Government buyers are somewhat less liely to mae a
proactive referral (32% vs. 50%). They are epecte to
be more impartial than their private sector peers. Fear
of showing a bias may eplain this ifference. This also
helps eplain the gap between the willingness to refer anactually maing a referral. More insights can be gleane
from analyzing the reasons buyers cite for not referring.
WHY NOT REFER?
Reason Percentage
No one ase me 68.9%
They havent performe 20.7%
Not allowe 6.9%
Too soon 3.4%
In about one in ve cases, a buyer opts not to refer
because the rm i not meet their epectations. In the
vast majority of cases (68.9%), however, no referral was
mae because no one has ase for one. While willing to
refer, they were not proactive. In only a small number of
cases (7%), buyers felt that they were prohibite from
maing referrals. These were all Government buyers,
which further eplains the referral rate iscrepancy.
Private
Buyers
50%
Government
Buyers
32%
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LOyALTy
We ase the responents to assess the probability that
they woul still be woring with the same rm in a 2-3 year
time frame. As with the referral question, responses were
ivie into three groups. The results show that just over60% believe they will be woring with their current rm
an about 13% are very unliely to. The remaining 25% are
poise to move in either irection.
LOYALTY OVER 23 YEARS
Rating Percentage
9 10 61.3%
7 8 25.2%
6 or less 13.4%
REASONS
CLIENTS LEAVE
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REASONS FOR STAyING OR LEAVING
The reasons buyers give for continuing the relationshipfall into three categories. Almost 70% state that their
professional services rm simply i what they sai
they woul. Almost one in ve goes on to escribe a
bon of trust that has evelope. The remaining 14% cite
contract length as an important factor in riving their
epectation of relationship length.
REASON FOR LOYALTY
Reason Percentage
W yES?
They elivere on
their promise 67.4%
Have become a
truste partner18.6%
Contract length 14.0%
W NO?
No ongoing nee /
en of contract60.0%
They i not
eliver40.0%
The reasons for leaving fall into two istinct categories.About 40% have a strong intention to leave because they
feel that the rm i not eliver on its promise. The other
60% are satise with the performance of the rm but
see the unerlying nee coming to an en or the en of
the contract term approaching an are uncertain that the
current rm will win a recompete. These are principally
Government buyers.
IN THEIR OWN WORdS
They communicate that the rm nows my business,
nows my problems, nows how to solve my problems.
Insight
Why do clients, who are
satised with your work,
go elsewhere?Most simply
dont understand all you can
do to help them. They are
responding to the problems
they recognize using the
resources they are aware of.
KEy TAKE AWAyIts your job to uncover new
ways in which you can help
them solve the challenges
they face. If you dont, you will
lose a valuable opportunity.
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Its easy to get caught up in the ay-to-ay challenge of
proviing high quality services to clients. In that quest,
your larger strategy can easily get lost. Heres a new way
to thin about client segmentation an eep a broaerstrategy in perspective. Thin about clients as falling into
four segments.
1 / Te happ Core
For most rms, this is the place to start. It is
relatively easy to ientify your current core clients.
They are the group that is most satise with your
service (ratings of 9-10 on Lielihoo of Referral)
an most loyal (ratings of 9-10 on probability of
still woring with you in 2-3 years). In this stuy,
this segment represente just over half of the
buyers. Our eperience also shows that this group
is most liely to be protable as well.
From a strategic point of view, these are the clients to
stuy an evaluate. If you unerstan who they are
an why they are such goo clients, you will be in a
better position to get aitional clients just lie them.
2 / Satised but Restless
This secon group of clients presents a major
opportunity. These clients are willing to recommen
you but o not epect to be woring with you over
time. They represent almost 16% of the sample.
As the stuy shows, they probably ont realize all
of the ways that you can help them. If you ont act,
they may hire your competitor to provie a service
that you are perfectly capable of offering.
From a strategic perspective they are prime targets
for an epane relationship. But you must tae the
initiative. Its not their job to gure out how you can
best help them. Thats your job. If you wait for them
to approach you, they will be gone.
SPECIAL SECTION
REThINKING CLIENTSEGMENTATION
50.7%
15.9%
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3 / Stuck in a Bad Relationsip
This thir category is relatively infrequent,
representing only 5.8% of clients. These are the
fols who are not happy with your services but are
liely to continue woring with you for some time.Typically this is riven by contractual relationships
or lac of goo alternatives.
From a strategic perspective they represent a fair
opportunity as they will be aroun long enough
for you to have a reasonable chance to turn
them aroun. However, if you simply tae them
for grante, you are liely to generate increasing
hostility an mounting problems.
4 / headed Out te Door
This fourth segment of clients represents over a
quarter of the sample (27.5%). They are both unhappywith your services an not liely to stay aroun for
long. Are they worth trying to save? Perhaps not. But
at a minimum, they are worth unerstaning.
What went wrong? Was there a breaown in your
process? Were they a poor t to begin with?
By unerstaning this group of clients an contrasting
them with your core clients you are liely to gain some
very actionable insight. In our eperience, its every
bit as valuable to unerstan who your offerings o
not wor for as it is to ientify your best clients. This
allows you to target new prospects more accurately
an to tailor your offerings more closely to the nees
of your best clients. That is the essence of goo
strategy.
5.8%
27.5%
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P R O F E S S I O N A L S E R V I C E S : H O W B U Y E R S B U Y | 2 2
Hinge is a braning an mareting rm specializing inprofessional services companies. Heaquartere in Reston,
Virginia, they are locate at the heart of one of the nations
largest concentrations of professional services rms. Their
comprehensive offerings inclue research an strategy,
bran evelopment, awar-winning creative an mareting
outsourcing. Visit Hinges website for free eucational
resources an to learn more about their services.
703-391-8870
ABOUT LEE W. FREDERIKSEN, Ph.D.
Lee is Managing Partner of Strategy at Hinge, a premier
professional services braning an mareting rm. He
brings over 30 years of mareting eperience to our
clients. Lee is a former tenure professor of psychology
at Virginia Tech, author of numerous boos an articles,
an a successful entrepreneur. Hes starte an run three
high-growth companies, incluing an $80 million runaway
success. Lee has wore with many global brans, incluingAmerican Epress, Time Life, Capital One, monster.com
an Yahoo!
Lee W. Freerisen, Ph.d.
Managing Partner, Strategy
703-391-8870
ABOUT hINGE