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Being a boutique agency specialising in marketing for professional service firms has its challenges.
Does your firm have a dedicated marketing resource that is qualified and empowered to make decisions? Add into this mix the lack of investment in marketing from a strategic plan to implementation and you can see why large players like Saga and the Co-op are making in roads. How to increase your fee earners conversion rate by at least 50% – follow up any enquiry! The best of the best in business has been announced once more with the latest inaugural Investec Mid-Market 100 ranking list recently published in The Times. Two Welsh firms are celebrating their achievements, having both been included in this significant list, amongst an exclusive collection of the UK’s fast growing private companies. London and the South East make up almost two fifths of the list with 22% and 17% respectively.
The Investec Mid-Market is made up from a diverse range of industries although most notably industrial and manufacturing, as well as food and drink. Collectively those on the list have generated ?4.85 billion of revenue and ?347 million in profits in the last financial year. London-based photographic gallery Hamiltons Galleries topped the list with an outstanding growth rate of 130.9%. This entry was posted by julie on November 25, 2014 at 12:06 pm and filed under Business, News category.
Top 7 Referral Marketing Ideas for Professional Services Firms You are using an outdated browser. There are a number of common factors that often crop up when we start working with our clients but the main five are outlined below. Admittedly an advisor will tell you their hourly rate but often not how many hours you will need. I would love to find an IT solutions that offers professional service firms the ability to time record and bill whilst recording all relevant information about a client.
To get to this stage, the marketing has worked, the prospective client had made an enquiry. I can understand the reluctance to ‘close’ an enquiry but there show be no issue with ending by agreeing to follow up the next day. This list recognises both family businesses and long-established businesses which have achieved successful long growth and actually includes two companies who have a history dating back to the 19th century!

Recruitment company Smart Solutions which has its head quarters in Newport and Pump Supplies based in Talbot who supply submersible pumps, both made it into the rankings placed at 25th and 89th place respectively. Mid-market growth was strong across the whole of the UK particularly in the South West and the Midlands with 11% each as well as the North West and Yorkshire who had 9% of the top 100 companies respectively.
Other sectors included professional services (9%), retail (13%), financial services (7%), technology and software (8%), recruitment (6%), transport and logistics (4%), automotive (6%) and arts and leisure (4%).
Most firms I have worked with and come across will say that their ‘Client service’ is their USP.
The more widely you circulate your case studies, the more likely that a prospect will know someone at the client firm and ask about you.
I guess the reality is that this is probably one of the few areas where you could differentiate.
The data any company has is one of its most valuable assets but unfortunately the lack of information and the out dated nature of many client records really hinders a firm.
However, you can only use Client service as a differentiator (USP) if it really is outstanding and not what you would expect when paying upwards of ?200ph. Some serious time and effort ought to be put into creating packages and transparent fee s for clients. In working with a mystery shopping firm for several years it was the one area all firms they had worked with fell down.
How do you go about changing the odds in your favor?We’ve compiled our top 7 referral marketing ideas to help.
However, would this be the case if another firm had called in the meantime to ask if they wanted to go ahead. Showcase your best clients in presentations, articles, etc.Help make your clients more visible. After attending a presentation and reading an article, some folks will approach those clients and ask about your firm.
In other words, they are happy to make a referral if a friend or colleague asks them for one. This is important because it is at the root of several of the top referral marketing ideas.At the Hinge Research Institute, (our specialized research unit), we conducted a new research study of 523 professional services firms to dig deeper and get the full story on referrals. If you make sure you have satisfied clients on the list and have their permission, they are much more likely to make a referral than to switch to a competitor. Think clients or other professionals that you may work with on a project as the source of this type of referral.

Interview industry experts.Profiling high visibility industry experts can pay off in several ways.
The strategy here is to get as many people as possible to ask them about your firm.Reputation-Based Referrals.
These referrals come from folks who have not worked with you directly but are familiar with your firm and its reputation or expertise. They may know someone who has worked with you. They may be familiar with the content you produce.
As they learn more about you they may even be in a position to make a reputation based referral.6.
Many firms play down their areas of specialization for fear that it will alienate potential clients who are not in the specialty area. While individual partners may have their favorite referral sources, it is rare that a firm actively cultivates them. From our research, we found that individuals or organizations often refer a firm after seeing them speak, reading their content, or interacting with them on social media. Lunch and golf outings are great, but don’t forget the simple step of keeping them up-to-date on developments at the firm. Being highly visible across these channels is essential to generating more non-client referrals.7.
A Visible Expert is exactly what it sounds like, an expert that is well-known within a target audience. It can be a big win for your referral program.While we love each and every one of our referral marketing ideas in their own right, we love them more when they work together. For example, a number of these techniques fit together well within the structure of a content marketing strategy. Lee is a former tenured professor of psychology at Virginia Tech, author of numerous books and articles, and a successful entrepreneur.

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