NOV 2-4, 2016

Life’s a Pitch

An Analytical Look at Why Clients Buy Professional Services

NOV 2-4, 2016

John Simpson Kevin Iredell

NOV 2-4, 2016

Car Buying Experience – 1984 v. 2016

2016

1984

NOV 2-4, 2016

What’s Changed?!

The most quoted statistic in B2B marketing today.

Source: Corporate Executive Board

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

81Total Responses

78% Respondents with

revenue >$1.5B46

% Respondents VP-Level or above

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)

NOV 2-4, 2016

Don’t Leave Referrals to Chance

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

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.

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.

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.

NOV 2-4, 2016

Experience and Value Matter Most…

169

108

54 51 4433 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)

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)

NOV 2-4, 2016

The most successful marketing highlights the experience of the

professionals in the context of the organization.

NOV 2-4, 2016

Chicago “Sadhawks”

2006: Worst Franchise in Sports (ESPN)

Worth $253M (that’s not a lot)

NOV 2-4, 2016

Built Player BrandsTapped into the

Civic Pride

NOV 2-4, 2016

Built the community brand

NOV 2-4, 2016

Set an example for other franchises

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”

NOV 2-4, 2016

Empty Promises…

12%

88%

Promised result

Past experience

Most important attribute when evaluating a PSO(% of total respondents)

NOV 2-4, 2016

Show that you know why it matters, not just that you’ve done it before.

NOV 2-4, 2016

Context Sets Up Your Experience

Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin

NOV 2-4, 2016

Context Sets Up Your Experience

Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin

NOV 2-4, 2016

Context Sets Up Your Experience

Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin

NOV 2-4, 2016

Context Sets Up Your Experience

Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin

NOV 2-4, 2016

Context Sets Up Your Experience

Source: The Greatest Sales Deck I Ever Saw, by Andy Raskin

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)

NOV 2-4, 2016

Leverage your relationships only when you are in a position to win.

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

NOV 2-4, 2016

Know When to Pass…

HIGH

LOW

HIGHPERSONAL 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.

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%

NOV 2-4, 2016

Counter price objections with service excellence.

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.

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

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)

NOV 2-4, 2016

Translate your experience into insight.

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

NOV 2-4, 2016

NOV 2-4, 2016

NOV 2-4, 2016

NOV 2-4, 2016

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.”

NOV 2-4, 2016

Life’s a Pitch

An Analytical Look at Why Clients Buy Professional Services