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Research. Reveal. Resolve

Selling professional services: Damned if you do – Damned if you don’t

July 7th, 2014 |

Selling professional services has never been harder. Competitive intensity is increasing within and amongst the professions, especially law and accountancy. The winners are focusing on delivering great client service experience – the losers are focusing on sales. Now read on.

(more…)

Posted in Accounting, Beaton Benchmarks, Engineering, Hightlight, Law, Legal, Professional Services | No Comments »

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More on the importance of cost consciousness in law firms

June 23rd, 2014 |

More on the importance of cost consciousness in law firms was added to the discourse last week in George Beaton's video interview with Australasian Lawyer.

Building on Mel Anderson's great post on why cost consciousness is valued by clients, in the interview George re-states the 'incontrovertible evidence' that cost consciousness plays a greater role than price in how clients perceive the value they receive from their law firms.

(more…)

Posted in Hightlight, Legal, Showcase, Strategy | 2 Comments »

Clients are the canary in the coal mine

June 17th, 2014 |

Research shows clients are the canary in the coal mine for professional services firms.

Analysis by Beaton Research + Consulting over last 10 years has identified seven larger professional services firms in Australia where their clients sensed the firm was in trouble well before the firm seemed to do so.

In these cases, independent measures of client satisfaction started to fall steadily years before any effective action was taken to arrest the declining fortunes of the firm. In six it was a case of too little, too late, and the firms as we knew them are no longer with us. In the seventh, a largely new Board and outside CEO turned the tide.

(more…)

Posted in Beaton Benchmarks, Beaton news, Hightlight, Professional Services | No Comments »

‘To differentiate or not to differentiate?’ is not the question. ‘How to?’ is.

June 10th, 2014 |

1For professional services firms differentiation is primarily driven by excellence in client relationship management rather than innovation, promotion or pricing.

There are several types of competitive strategy according to Michael Porter of Harvard – and different risks inherent in each strategy. Most would agree though that being "all things to all people" is a sure recipe for mediocrity and being treated as a commodity. Professional services firms do need to differentiate – but need to be smart about how they do so.

 

(more…)

Posted in Beaton Benchmarks, Beaton news, Hightlight, Law, Legal, Professional Services, Showcase, Strategy | No Comments »

Cool CRM insights

June 2nd, 2014 |

Our friend, the irrepressible Joel Barolsky, shared some cool CRM insights about professional services firms in his recent post 'Your loyalty levers: head, heart and ego'. Here' s our riposte. (more…)

Posted in Accounting, Beaton Benchmarks, Engineering, Hightlight, Law, Legal, Professional Services, Showcase, Strategy | Comments Off

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We hope the conversations that take place on Beaton Research.Reveal blog will be energetic, constructive and thought-provoking. To ensure the quality of the discussion, our moderating team will review all comments and may edit them for clarity, length, and relevance. Comments that are overly promotional, mean-spirited, or off-topic may be deleted per the moderators' judgment.

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