Why is it so difficult to differentiate professional services firms? The honest truth is that most firms aren't appreciably different from their competitors. They offer more or less the same suite of services to the same audiences. And in homogenous and highly regulated industries such as accounting and law, some marketers question whether differentiation is even possible. (To learn why differentiation is important, check out this article.)

Given these challenges, is differentiation realistic for most professional services firms? Let me reassure you. Where there's a will, there's a way.

The Secret of Differentiation Success

Want to know how many firms in highly competitive fields separate themselves from the rest? Here's their secret: They do something that is really hard — something that competing firms aren't willing or able to do. That's the mark of a true leader.

You see, average firms focus on serving their clients. That's difficult enough. But exceptional firms find the extra time and resources to create something of enormous value. It's not that they are superhuman or smarter than everyone else. They simply work very hard to give their audience something they really want.

And you know what? There is no reason your firm can't do the same thing.

So what are some strategies you could pursue? Below are nine great examples of differentiation strategies that real-world professional services firms use today. Feel free to borrow any of them. Just keep in mind that all of these strategies require some kind of sacrifice — but the payoff is true differentiation.

1. Focus on an industry. When you serve a single industry, by definition you become a specialist. And specialists are valued much more highly than generalists. In fact, discerning companies will seek out specialists over generalists, and they will often pay a premium for their services. When you can say "we specialize in your industry" you make an impact.

Case in Point: Industrial III, Inc. is a Houston-based mergers & acquisitions firm that deals exclusively in industrial equipment manufacturing and services companies in the energy sector. As a result of their narrow focus, they are among the top two or three firms in their niche.

2. Focus on a service. Specializing in a service area offers the same benefits as an industry focus. A horizontal focus, however, has the advantage of being less susceptible to industry cyclical downturns.

Case in Point: Cavium Solutions and Services produces software optimized for Cavium Networks' line of telecommunications processors. This Cavium Networks subsidiary competes with many generalist third-party software developers, but its laser focus gives it an advantage over its competitors.

3. Publish research studies. Research is hard to do, but it provides your clients and prospects with invaluable insights and information. And the credibility it brings your firm is priceless. In addition, your findings will provide a deep fount of material for articles, blog posts, speeches and webinars — maybe even a book.

Case in Point: At Hinge, we conduct 2-3 major research studies each year on the industries we serve. We use this data as fuel for our content marketing program, and to date have turned it into two books on professional services marketing. This research has spurred our firm's rapid growth into markets across the nation.

4. Create an award. People love to win awards. The media loves to report on them. That's a match made in heaven. So why not create an annual award to recognize outstanding individuals or companies in your target audience? It's not as difficult as it sounds, though it takes quite a bit of organization to pull it off.

Case in Point: Helios HR, a human resources management and outsourcing firm, established its Apollo Awards in 2005 to honor organizations that promote employee growth and development. Each year, they receive extensive media exposure and visibility as a result of this program.

5. Organize an annual conference. There are few better ways to quickly build awareness and credibility on the national stage than running an industry-focused conference. If you plan it right, you may even be able to attract influential speakers and draw an international crowd.

Case in Point: In 2010, SiteTuners, a conversion rate optimization firm, launched Conversion Conference. Today, they hold multiple conferences each year around the US and Europe, driving awareness and significant new revenues.

6. Interview leaders in the industries you serve. A good way to become known in an industry is to interview the leaders in your target industry. Not only will people tune in to hear the interviews, but you will become known to the most influential individuals in the business. It's a win-win for everyone.

Case in Point: San Francisco-based Mariposa Leadership is a well-regarded leadership coaching firm that caters to the technology sector. Each month, their CEO conducts a teleconference interview with an industry leader. This series, called Wise Talk, has contributed to the firm's stellar reputation and spread its name well beyond the Bay area.

7. Write the definitive book on a topic. A book that addresses a topic relevant to your clients can be a tangible differentiator. "We wrote the book on X" makes a powerful statement.

Case in Point: Founded by a group of Wharton professors, Decision Strategies International prepares organizations and their leaders for a changing marketplace. DSI's principals have published numerous best-selling books on such topics as executive decision-making and the future of technology. Many of these books are standard reading for executives around the world. Their value as business development tools and credentials are immeasurable.

8. Develop an essential piece of software. Software is beautiful. It can automate processes and create efficiencies that transform businesses. If you can think of a way that software might fundamentally change the way your clients do business, do everything in your power to make it happen. Software can be a huge differentiator.

Case in Point: G4i, a government contractor that provides professional services to a variety of public-sector clients, offers enterprise-grade CRM and collaboration to clients through its small-business subsidiaries. No other competitors in their class are able to offer tools of the same power and quality. That makes all the difference.

9. Change the rules. At some point in your career, you may spot an opportunity to take a different tack in the marketplace. To zag while everyone else is zigging. It can be a game changer if you have the courage to run with it.

Case in Point: Melissa Henderson, a former executive search firm director, realized that traditional search did not really address the needs of executive-level candidates. So she started Summit Executive Resources, a firm that represens C-level executives as they seek new employment — much like a high-end sports agent. This unique model has helped the firm attract many lucrative clients who were frustrated with the conventional approach.

Bonus Track: Deploy multiple differentiators. Many of the most successful firms put two or more differentiators to work. For instance, Hubspot not only makes a unique CRM/marketing automation software product, it also conducts groundbreaking market research — and gives it away for free — to stimulate interest in its software product. And at Hinge, we not only specialize in a vertical category (professional services), we conduct regular independent research, which we later turn into books.

The more ways you can distinguish your firm, and the more interesting things you have to say about it, the less relevant your competitors become. I believe the hardest part of differentiation is resolving to change something fundamental about your firm. Once you are able to make that psychological leap, the rest is pure joy.

- See more at: http://www.hingemarketing.com/library/article/9_ways_to_differentiate_your_professional_services_firm#sthash.tVzkrcb3.dpuf

Pivot Newsletter

9 Ways to Differentiate Your Professional Services Firm

By Aaron Taylor
Why is it so difficult to differentiate professional services firms? The honest truth is that most firms aren't appreciably different from their competitors. They offer more or less the same suite of services to the same audiences. And in homogenous and highly regulated industries such as accounting and law, some marketers question whether differentiation is even possible. (To learn why differentiation is important, check out this article.)
Given these challenges, is differentiation realistic for most professional services firms? Let me reassure you. Where there's a will, there's a way.

The Secret of Differentiation Success

Want to know how many firms in highly competitive fields separate themselves from the rest? Here's their secret: They do something that is really hard — something that competing firms aren't willing or able to do. That's the mark of a true leader.
You see, average firms focus on serving their clients. That's difficult enough. But exceptional firms find the extra time and resources to create something of enormous value. It's not that they are superhuman or smarter than everyone else. They simply work very hard to give their audience something they really want.
And you know what? There is no reason your firm can't do the same thing.
So what are some strategies you could pursue? Below are nine great examples of differentiation strategies that real-world professional services firms use today. Feel free to borrow any of them. Just keep in mind that all of these strategies require some kind of sacrifice — but the payoff is true differentiation.
1. Focus on an industry. When you serve a single industry, by definition you become a specialist. And specialists are valued much more highly than generalists. In fact, discerning companies will seek out specialists over generalists, and they will often pay a premium for their services. When you can say "we specialize in your industry" you make an impact.
Case in Point: Industrial III, Inc. is a Houston-based mergers & acquisitions firm that deals exclusively in industrial equipment manufacturing and services companies in the energy sector. As a result of their narrow focus, they are among the top two or three firms in their niche.
2. Focus on a service. Specializing in a service area offers the same benefits as an industry focus. A horizontal focus, however, has the advantage of being less susceptible to industry cyclical downturns.
Case in Point: Cavium Solutions and Services produces software optimized for Cavium Networks' line of telecommunications processors. This Cavium Networks subsidiary competes with many generalist third-party software developers, but its laser focus gives it an advantage over its competitors.
3. Publish research studies. Research is hard to do, but it provides your clients and prospects with invaluable insights and information. And the credibility it brings your firm is priceless. In addition, your findings will provide a deep fount of material for articles, blog posts, speeches and webinars — maybe even a book.
Case in Point: At Hinge, we conduct 2-3 major research studies each year on the industries we serve. We use this data as fuel for our content marketing program, and to date have turned it into two books on professional services marketing. This research has spurred our firm's rapid growth into markets across the nation.
4. Create an award. People love to win awards. The media loves to report on them. That's a match made in heaven. So why not create an annual award to recognize outstanding individuals or companies in your target audience? It's not as difficult as it sounds, though it takes quite a bit of organization to pull it off.
Case in Point: Helios HR, a human resources management and outsourcing firm, established its Apollo Awards in 2005 to honor organizations that promote employee growth and development. Each year, they receive extensive media exposure and visibility as a result of this program.
5. Organize an annual conference. There are few better ways to quickly build awareness and credibility on the national stage than running an industry-focused conference. If you plan it right, you may even be able to attract influential speakers and draw an international crowd.
Case in Point: In 2010, SiteTuners, a conversion rate optimization firm, launched Conversion Conference. Today, they hold multiple conferences each year around the US and Europe, driving awareness and significant new revenues.
6. Interview leaders in the industries you serve. A good way to become known in an industry is to interview the leaders in your target industry. Not only will people tune in to hear the interviews, but you will become known to the most influential individuals in the business. It's a win-win for everyone.
Case in Point: San Francisco-based Mariposa Leadership is a well-regarded leadership coaching firm that caters to the technology sector. Each month, their CEO conducts a teleconference interview with an industry leader. This series, called Wise Talk, has contributed to the firm's stellar reputation and spread its name well beyond the Bay area.
7. Write the definitive book on a topic. A book that addresses a topic relevant to your clients can be a tangible differentiator. "We wrote the book on X" makes a powerful statement.
Case in Point: Founded by a group of Wharton professors, Decision Strategies International prepares organizations and their leaders for a changing marketplace. DSI's principals have published numerous best-selling books on such topics as executive decision-making and the future of technology. Many of these books are standard reading for executives around the world. Their value as business development tools and credentials are immeasurable.
8. Develop an essential piece of software. Software is beautiful. It can automate processes and create efficiencies that transform businesses. If you can think of a way that software might fundamentally change the way your clients do business, do everything in your power to make it happen. Software can be a huge differentiator.
Case in Point: G4i, a government contractor that provides professional services to a variety of public-sector clients, offers enterprise-grade CRM and collaboration to clients through its small-business subsidiaries. No other competitors in their class are able to offer tools of the same power and quality. That makes all the difference.
9. Change the rules. At some point in your career, you may spot an opportunity to take a different tack in the marketplace. To zag while everyone else is zigging. It can be a game changer if you have the courage to run with it.
Case in Point: Melissa Henderson, a former executive search firm director, realized that traditional search did not really address the needs of executive-level candidates. So she started Summit Executive Resources, a firm that represens C-level executives as they seek new employment — much like a high-end sports agent. This unique model has helped the firm attract many lucrative clients who were frustrated with the conventional approach.
Bonus Track: Deploy multiple differentiators. Many of the most successful firms put two or more differentiators to work. For instance, Hubspot not only makes a unique CRM/marketing automation software product, it also conducts groundbreaking market research — and gives it away for free — to stimulate interest in its software product. And at Hinge, we not only specialize in a vertical category (professional services), we conduct regular independent research, which we later turn into books.
The more ways you can distinguish your firm, and the more interesting things you have to say about it, the less relevant your competitors become. I believe the hardest part of differentiation is resolving to change something fundamental about your firm. Once you are able to make that psychological leap, the rest is pure joy.

- See more at: http://www.hingemarketing.com/library/article/9_ways_to_differentiate_your_professional_services_firm#sthash.tVzkrcb3.dpuf

Pivot Newsletter

9 Ways to Differentiate Your Professional Services Firm

By Aaron Taylor
Why is it so difficult to differentiate professional services firms? The honest truth is that most firms aren't appreciably different from their competitors. They offer more or less the same suite of services to the same audiences. And in homogenous and highly regulated industries such as accounting and law, some marketers question whether differentiation is even possible. (To learn why differentiation is important, check out this article.)
Given these challenges, is differentiation realistic for most professional services firms? Let me reassure you. Where there's a will, there's a way.

The Secret of Differentiation Success

Want to know how many firms in highly competitive fields separate themselves from the rest? Here's their secret: They do something that is really hard — something that competing firms aren't willing or able to do. That's the mark of a true leader.
You see, average firms focus on serving their clients. That's difficult enough. But exceptional firms find the extra time and resources to create something of enormous value. It's not that they are superhuman or smarter than everyone else. They simply work very hard to give their audience something they really want.
And you know what? There is no reason your firm can't do the same thing.
So what are some strategies you could pursue? Below are nine great examples of differentiation strategies that real-world professional services firms use today. Feel free to borrow any of them. Just keep in mind that all of these strategies require some kind of sacrifice — but the payoff is true differentiation.
1. Focus on an industry. When you serve a single industry, by definition you become a specialist. And specialists are valued much more highly than generalists. In fact, discerning companies will seek out specialists over generalists, and they will often pay a premium for their services. When you can say "we specialize in your industry" you make an impact.
Case in Point: Industrial III, Inc. is a Houston-based mergers & acquisitions firm that deals exclusively in industrial equipment manufacturing and services companies in the energy sector. As a result of their narrow focus, they are among the top two or three firms in their niche.
2. Focus on a service. Specializing in a service area offers the same benefits as an industry focus. A horizontal focus, however, has the advantage of being less susceptible to industry cyclical downturns.
Case in Point: Cavium Solutions and Services produces software optimized for Cavium Networks' line of telecommunications processors. This Cavium Networks subsidiary competes with many generalist third-party software developers, but its laser focus gives it an advantage over its competitors.
3. Publish research studies. Research is hard to do, but it provides your clients and prospects with invaluable insights and information. And the credibility it brings your firm is priceless. In addition, your findings will provide a deep fount of material for articles, blog posts, speeches and webinars — maybe even a book.
Case in Point: At Hinge, we conduct 2-3 major research studies each year on the industries we serve. We use this data as fuel for our content marketing program, and to date have turned it into two books on professional services marketing. This research has spurred our firm's rapid growth into markets across the nation.
4. Create an award. People love to win awards. The media loves to report on them. That's a match made in heaven. So why not create an annual award to recognize outstanding individuals or companies in your target audience? It's not as difficult as it sounds, though it takes quite a bit of organization to pull it off.
Case in Point: Helios HR, a human resources management and outsourcing firm, established its Apollo Awards in 2005 to honor organizations that promote employee growth and development. Each year, they receive extensive media exposure and visibility as a result of this program.
5. Organize an annual conference. There are few better ways to quickly build awareness and credibility on the national stage than running an industry-focused conference. If you plan it right, you may even be able to attract influential speakers and draw an international crowd.
Case in Point: In 2010, SiteTuners, a conversion rate optimization firm, launched Conversion Conference. Today, they hold multiple conferences each year around the US and Europe, driving awareness and significant new revenues.
6. Interview leaders in the industries you serve. A good way to become known in an industry is to interview the leaders in your target industry. Not only will people tune in to hear the interviews, but you will become known to the most influential individuals in the business. It's a win-win for everyone.
Case in Point: San Francisco-based Mariposa Leadership is a well-regarded leadership coaching firm that caters to the technology sector. Each month, their CEO conducts a teleconference interview with an industry leader. This series, called Wise Talk, has contributed to the firm's stellar reputation and spread its name well beyond the Bay area.
7. Write the definitive book on a topic. A book that addresses a topic relevant to your clients can be a tangible differentiator. "We wrote the book on X" makes a powerful statement.
Case in Point: Founded by a group of Wharton professors, Decision Strategies International prepares organizations and their leaders for a changing marketplace. DSI's principals have published numerous best-selling books on such topics as executive decision-making and the future of technology. Many of these books are standard reading for executives around the world. Their value as business development tools and credentials are immeasurable.
8. Develop an essential piece of software. Software is beautiful. It can automate processes and create efficiencies that transform businesses. If you can think of a way that software might fundamentally change the way your clients do business, do everything in your power to make it happen. Software can be a huge differentiator.
Case in Point: G4i, a government contractor that provides professional services to a variety of public-sector clients, offers enterprise-grade CRM and collaboration to clients through its small-business subsidiaries. No other competitors in their class are able to offer tools of the same power and quality. That makes all the difference.
9. Change the rules. At some point in your career, you may spot an opportunity to take a different tack in the marketplace. To zag while everyone else is zigging. It can be a game changer if you have the courage to run with it.
Case in Point: Melissa Henderson, a former executive search firm director, realized that traditional search did not really address the needs of executive-level candidates. So she started Summit Executive Resources, a firm that represens C-level executives as they seek new employment — much like a high-end sports agent. This unique model has helped the firm attract many lucrative clients who were frustrated with the conventional approach.
Bonus Track: Deploy multiple differentiators. Many of the most successful firms put two or more differentiators to work. For instance, Hubspot not only makes a unique CRM/marketing automation software product, it also conducts groundbreaking market research — and gives it away for free — to stimulate interest in its software product. And at Hinge, we not only specialize in a vertical category (professional services), we conduct regular independent research, which we later turn into books.
The more ways you can distinguish your firm, and the more interesting things you have to say about it, the less relevant your competitors become. I believe the hardest part of differentiation is resolving to change something fundamental about your firm. Once you are able to make that psychological leap, the rest is pure joy.

- See more at: http://www.hingemarketing.com/library/article/9_ways_to_differentiate_your_professional_services_firm#sthash.tVzkrcb3.dpuf

Pivot Newsletter

9 Ways to Differentiate Your Professional Services Firm

By Aaron Taylor
Why is it so difficult to differentiate professional services firms? The honest truth is that most firms aren't appreciably different from their competitors. They offer more or less the same suite of services to the same audiences. And in homogenous and highly regulated industries such as accounting and law, some marketers question whether differentiation is even possible. (To learn why differentiation is important, check out this article.)
Given these challenges, is differentiation realistic for most professional services firms? Let me reassure you. Where there's a will, there's a way.

The Secret of Differentiation Success

Want to know how many firms in highly competitive fields separate themselves from the rest? Here's their secret: They do something that is really hard — something that competing firms aren't willing or able to do. That's the mark of a true leader.
You see, average firms focus on serving their clients. That's difficult enough. But exceptional firms find the extra time and resources to create something of enormous value. It's not that they are superhuman or smarter than everyone else. They simply work very hard to give their audience something they really want.
And you know what? There is no reason your firm can't do the same thing.
So what are some strategies you could pursue? Below are nine great examples of differentiation strategies that real-world professional services firms use today. Feel free to borrow any of them. Just keep in mind that all of these strategies require some kind of sacrifice — but the payoff is true differentiation.
1. Focus on an industry. When you serve a single industry, by definition you become a specialist. And specialists are valued much more highly than generalists. In fact, discerning companies will seek out specialists over generalists, and they will often pay a premium for their services. When you can say "we specialize in your industry" you make an impact.
Case in Point: Industrial III, Inc. is a Houston-based mergers & acquisitions firm that deals exclusively in industrial equipment manufacturing and services companies in the energy sector. As a result of their narrow focus, they are among the top two or three firms in their niche.
2. Focus on a service. Specializing in a service area offers the same benefits as an industry focus. A horizontal focus, however, has the advantage of being less susceptible to industry cyclical downturns.
Case in Point: Cavium Solutions and Services produces software optimized for Cavium Networks' line of telecommunications processors. This Cavium Networks subsidiary competes with many generalist third-party software developers, but its laser focus gives it an advantage over its competitors.
3. Publish research studies. Research is hard to do, but it provides your clients and prospects with invaluable insights and information. And the credibility it brings your firm is priceless. In addition, your findings will provide a deep fount of material for articles, blog posts, speeches and webinars — maybe even a book.
Case in Point: At Hinge, we conduct 2-3 major research studies each year on the industries we serve. We use this data as fuel for our content marketing program, and to date have turned it into two books on professional services marketing. This research has spurred our firm's rapid growth into markets across the nation.
4. Create an award. People love to win awards. The media loves to report on them. That's a match made in heaven. So why not create an annual award to recognize outstanding individuals or companies in your target audience? It's not as difficult as it sounds, though it takes quite a bit of organization to pull it off.
Case in Point: Helios HR, a human resources management and outsourcing firm, established its Apollo Awards in 2005 to honor organizations that promote employee growth and development. Each year, they receive extensive media exposure and visibility as a result of this program.
5. Organize an annual conference. There are few better ways to quickly build awareness and credibility on the national stage than running an industry-focused conference. If you plan it right, you may even be able to attract influential speakers and draw an international crowd.
Case in Point: In 2010, SiteTuners, a conversion rate optimization firm, launched Conversion Conference. Today, they hold multiple conferences each year around the US and Europe, driving awareness and significant new revenues.
6. Interview leaders in the industries you serve. A good way to become known in an industry is to interview the leaders in your target industry. Not only will people tune in to hear the interviews, but you will become known to the most influential individuals in the business. It's a win-win for everyone.
Case in Point: San Francisco-based Mariposa Leadership is a well-regarded leadership coaching firm that caters to the technology sector. Each month, their CEO conducts a teleconference interview with an industry leader. This series, called Wise Talk, has contributed to the firm's stellar reputation and spread its name well beyond the Bay area.
7. Write the definitive book on a topic. A book that addresses a topic relevant to your clients can be a tangible differentiator. "We wrote the book on X" makes a powerful statement.
Case in Point: Founded by a group of Wharton professors, Decision Strategies International prepares organizations and their leaders for a changing marketplace. DSI's principals have published numerous best-selling books on such topics as executive decision-making and the future of technology. Many of these books are standard reading for executives around the world. Their value as business development tools and credentials are immeasurable.
8. Develop an essential piece of software. Software is beautiful. It can automate processes and create efficiencies that transform businesses. If you can think of a way that software might fundamentally change the way your clients do business, do everything in your power to make it happen. Software can be a huge differentiator.
Case in Point: G4i, a government contractor that provides professional services to a variety of public-sector clients, offers enterprise-grade CRM and collaboration to clients through its small-business subsidiaries. No other competitors in their class are able to offer tools of the same power and quality. That makes all the difference.
9. Change the rules. At some point in your career, you may spot an opportunity to take a different tack in the marketplace. To zag while everyone else is zigging. It can be a game changer if you have the courage to run with it.
Case in Point: Melissa Henderson, a former executive search firm director, realized that traditional search did not really address the needs of executive-level candidates. So she started Summit Executive Resources, a firm that represens C-level executives as they seek new employment — much like a high-end sports agent. This unique model has helped the firm attract many lucrative clients who were frustrated with the conventional approach.
Bonus Track: Deploy multiple differentiators. Many of the most successful firms put two or more differentiators to work. For instance, Hubspot not only makes a unique CRM/marketing automation software product, it also conducts groundbreaking market research — and gives it away for free — to stimulate interest in its software product. And at Hinge, we not only specialize in a vertical category (professional services), we conduct regular independent research, which we later turn into books.
The more ways you can distinguish your firm, and the more interesting things you have to say about it, the less relevant your competitors become. I believe the hardest part of differentiation is resolving to change something fundamental about your firm. Once you are able to make that psychological leap, the rest is pure joy.

- See more at: http://www.hingemarketing.com/library/article/9_ways_to_differentiate_your_professional_services_firm#sthash.tVzkrcb3.dpuf