The challenges advisory firms face.

The challenges advisory firms face.

The challenges advisory firms face.

I recently conducted a workshop on how important your brand is within the social media arena, particularly when your business focuses on selling a concept, service or other intangible. This particular workshop happened to be for churches, but they are not unlike many of the businesses we advise, who sell consulting, advice, conceptual services or ideas. Let’s face it, churches are probably among the most conceptual of all, promoting not only events and services, but an ideology.

Many advisory service businesses face this challenge, too. Whether you’re in leadership development, management consulting, staffing, architecture, engineering, development, HR or other advisory service industry, you have to be able to clearly tell your story in a compelling way. Why? Because clients and potential customers need to not only understand what you do, but they need to have good reason to trust and choose you over one of your competitors.

So what’s different about selling a product versus a service? Not only do you have to deal with the traditional “4Ps” of marketing: Product, Price, Place and Promotion, but you also have to consider People, Physical Evidence (communication and documentation), and Process. These latter three, especially, are essential to start building relationships and conveying trust, which is really what it comes down to in any service industry.

Being different.

You are different from your competition, so stop using the exact same language they use and look at how you can truly set yourself apart. Your ideal prospects can’t compare you with the consultant in the next town and make a decision on price alone. When it comes to investing in your services, it’s more about the relationship — how do they feel about you? What is your prospect’s perception of you, your company, your website, your message, and your people? This is the advisory business’ reality. For a client to invest in your services, they must feel a connection at a certain level. Is it a popularity contest? Thankfully, no. But on some level you must resonate with your potential clients, creating and building connection at every touch point.

So just how do we build connections? [pk_underline_list]

• Know your brand story and back it up everywhere. Make sure everyone in the company knows it and lives it. You need to know how and why you are different and a better choice for your clients. If you’re not sure what this is or how to do it, invest in a brand consultant to help you figure it out. We’ve seen this completely revitalize organizations and position them for growth.

• Make a positive impression at every contact point from a beautiful website to a regular newsletter, in your email signature and social media posts to your business cards and how people answer the phone.

• Be consistent. Walk your talk. Follow through. Show results.

• Communicate regularly. Update your website, post helpful information to a blog or appropriate social media channel, keep in touch with clients and prospects via email, newsletters and phone.

• Show how you understand your clients and their challenges.

• Convey your unique process. Even though your service with each client may be different, show how your approach, process and stellar results are always achieved through that process. You might do this through case studies.

• Develop your trusted advocates. You know these folks. They will happily write a testimonial or gladly talk to key prospects of yours anytime to share the story of the great results you helped them achieve. Of course, certain industries, like wealth managers, cannot publish a testimonial and must go through compliance before producing marketing materials, but your advocates can still be nurtured and prove to be among your best assets.

• Choose your words and actions wisely. Always keep the trust that your clients and prospects have invested in you top of mind. [/pk_underline_list]

— Wendy Baird, principal and president

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