New Study Identifies Key Traits that Drive Loyalty and Increased Compensation for Professional Services Organizations
Responsiveness, effective communications and knowledge of clients’ businesses influence retention and relationship growth, according to One North
CHICAGO – November 16, 2017 – Fifty-five percent of decision-makers who work with five or more professional services organizations each year said they felt loyal to only two or three, according to a new survey from B2B digital agency One North. High-quality work and consistency were among top traits that earned PSOs big loyalty points from survey respondents.
One North partnered with communications firm Greentarget to survey nearly 100 key decision-makers at some of the largest companies across the United States to understand the key drivers of loyalty among clients who purchase legal, consulting, accounting, architecture, engineering and construction services.
“Professional services organizations should aim to be a couple steps ahead within each industry they serve, look for ways to share important knowledge on an ongoing basis and build productive, professional relationships with clients,” said One North Chief Strategist Kalev Peekna. “Client loyalty is not a given. Communicating and providing value at every step of the client journey is critical for PSOs to earn and maintain trust.”
Nearly 95 percent of respondents who hire PSOs agree that responsiveness, effective communications and deep knowledge of a client’s business give these organizations an advantage over their competitors. In fact, 75 percent would pay more to work with professional service organizations that embrace these qualities.
Customize digital marketing strategies, technology to build client loyalty
Personalized digital marketing is a key asset for professional services organizations. One-fifth of respondents to One North’s survey said their preferred PSOs offer digital technology, such as dedicated web portals, dashboards and other tailored communications.
Further, about three-quarters of respondents reported timely business intelligence plays a critical role in helping develop loyalty. Respondents value intelligence that addresses information on issues they face (72 percent), competitive information (44 percent), and industry analysis (39 percent).
To that end, loyal clients are more likely to open emails from their preferred PSOs, including communications inviting clients to learn about other services these providers offer. Nearly 95 percent of respondents said they are somewhat (43 percent) or extremely (51 percent) likely to open emails from a service organization they were loyal to – even if the email was not sent from a direct contact.
To learn more about One North’s loyalty survey and download a copy of the executive summary, “Courting the Commitment-Phobic Client: How Professional Services Providers Earn Loyalty and Premium Compensation,” click here.
About One North
One North is a B2B digital agency that partners with professional services organizations to create powerful digital experiences aimed at achieving marketing and business development goals. The firm specializes in brand, digital strategy, experience design, technology and managed hosting. One North’s team of more than 90 multidisciplinary professionals holds deep expertise within the legal, consulting, finance, accounting, engineering and construction industries and collaborates to produce award-winning work. For more information, visit www.onenorth.com or connect on LinkedIn, Facebook and Twitter.
As Head of Marketing Communications, Tanya helps connect One North’s clients and prospects with the most innovative digital strategies, trends and thought leaders. Responsible for leading all editorial, sales enablement and PR initiatives, she ensures the successful delivery of One North’s message by reinforcing the agency’s deep industry knowledge and multidisciplinary expertise.
If I were a vegetable: I’d definitely be Zucchini – but only if it were fried.
Superpower I wish I had: I’ve always wanted to be a mind reader. I’m naturally curious … and an eavesdropper!