March 30, 2020

When clients are prepared to pay more shares one of the many important findings in the beatonbenchmarks20 reports. These reports cover the larger firms in the accounting, built environment and consulting engineering and law professions in Australia and New Zealand.

From...

We are excited about beaton’s new CX report for two reasons. First, the report provides unequivocally clear evidence that increasing Excellent CX and avoiding Poor CX supports profitable growth. Second, the findings are full of major and unexpected insights for the way...

October 26, 2019

CX is the new buzzword and board room priority. And rightly so, as professional services firms strive to execute client-centric strategies to meet buyers’ increasing expectations and demands for transparency. All this, while working to be competitive in the face of ram...

It's 25 years since David Maister published Managing the Professional Service Firm (1993). Does client data back his views?

March 20, 2018

In its soon to be released 2018 beatonbenchmarks survey, beaton found one in three clients of professional service firms said they would be willing to pay more for the services they receive in the future.

While 65% of clients said they would not pay more than they were...

The top three challenges facing law firms are all price related (1):

1. Negotiating price with clients (Price)

2. Winning new business (Price is a key element)

3. Competing with other firms (Price is a key element).

When we talk to firms in other professions, we hear the s...

February 5, 2017

A professional services firm has four client-related levers to pull to maximise its profitability.

Let's start by sketching an all-too-common scenario.

ABC corporation has a long-standing relationship with a professional services firm, let's call them Lex Law. Lex Law un...

May 23, 2016

When we present our beatonbenchmarks™ reports, the section about why clients appoint a more expensive firm often gets the most attention, challenge and interest.

Of course, this doesn’t mean that 80% of clients always choose a more expensive firm, but it does mean that...

April 22, 2016

This post explores ways to deliver fair value to both their clients and professional services firms. It shows why one of the key elements of beatonbenchmarks research is an analysis of what clients consider to be fair value for professional services in any given market...

April 4, 2016

This is the first of a series of posts on how to develop and execute an effective industry strategy to drive profitable growth in a professional services firm.

Clients are telling us loud and clear that they value and select advisors based on industry expertise and expe...

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