What information would you most like to know about prospective buyers? Most small-business owners would like to understand what makes them take the plunge into retaining financial services. Understanding this would help many ensure that their marketing approaches, and the services they’re promoting, are more successful.
Recently Hinge Research Institute did a study with 1300 companies about what makes individuals retain professional services. They discovered the following:
- 21% of buyers felt that having a bottom-line impact was most important to them while only 2% of CPAs anticipated that as a prospective client’s most pressing concern.
- 79% of buyers would like more services from their current provider. Unfortunately, 48% of buyers admit they do not know which services sellers provide.
- 69% of buyers are willing to recommend their service providers. If they don’t make a referral, 72% of the time it is because no one asked them to.
- 47% of buyers felt that the best marketing approach was to have a reputation for producing results.
- Only 8% of buyers felt cost was the most important criteria for selecting a provider.
These are interesting statistics. But what do they teach us?
- Buyers value specialized skill and expertise that positively impacts their bottom line.
- Sellers do a poor job informing buyers about the services they offer.
- Sellers don’t ask buyers to refer their services.
- Buyers respond to marketing efforts that highlight a reputation for producing results.
- And interestingly, when deciding between providers, cost is a minor consideration.
So what’s the takeaway from this survey? Focus your efforts on ensuring that you promote services in a manner to which prospective clients will best respond. Also, consider adding services to your offerings that current and prospective clients will value. Because statistically speaking, clients are more likely to retain additional services, refer your practice, and respond to marketing efforts that highlight proven reputations for impacting a business’s bottom line, regardless of what it might cost them.
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Most of your competitors don’t offer specialized small-business accounting services. But after completing the Professional Bookkeeper (PB) program, you can! Consider a training program that is catered to your needs and busy schedule—one that will enable you to earn a professional designation after just 60 hours of your valuable time.
When you enroll in the Professional Bookkeeper Program you receive to the following:
- Flexible training you complete on your own schedule
- Rich and engaging training DVDs you can view again and again
- Hands-on instruction and practice sets through which you gain much-needed experience
- Training in building and marketing your new practice
- 6 months of valuable follow-up support
- The opportunity to earn professional certification
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Expand your service offerings by enrolling in UAC’s valuable Professional Bookkeeper Program call 1-877-833-7908 to enroll today!
Taylor, Aaron. “New Study Highlights: How Buyers Buy Professional Services.” HingeMarketing.com