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Wants and Needs

Life comes down to wants and needs. Those things we have to have and those we would would like to have. What we require and what we desire.

Marketing is about setting up the want and need equation. Giving consumers the right amount of honest information in relevant and entertaining formats so they can make sound decisions.

Brands that are indispensable have become both a want and a need. That is the place to be … a brand that is both required and desired.

Professional Services Marketing

How do you differentiate a law firm?

What makes an ad agency relevant?

How can you tell one accounting firm from another?

Can brand-building really help a consulting firm win more business?

Professional services take away problems and capture benefits. This is why they exist. This applies to law firms, consultancies, advertising agencies, architects, wealth management or private banking services, creative agencies, and accounting firms. If they do it right they are rewarded with long-term, mutually beneficial relationships.

Professional services are fascinating. Tom Peters, management consultant and author, has said, “The professional service firm – with its obsession with clients and projects – must be the new organization model.” Yet, professional services are tough businesses to brand because the promise is intangible and requires a leap-of-faith purchase.

Professional Service Essence

Whether it be a consulting, accounting, advertising or architecture firm, common characteristics apply. Each involves a specialty that demands highly talented people (who can be highly demanding). Most firms pursue deliver services that are repeatable and trainable to efficiently and effectively grow revenue. And though these services are offered to a variety of clients, they must be delivered in a customized way demanding high levels of face-to-face interaction.

The essence of professional services is that they prepare clients for the future, preempt the undesirable, control what can be controlled, and identify new opportunities.

Because of these commonalities, firms tend to share the same business model. They rely on  leverage in organizational design for profitability, structure and process, and career path strategies.

In terms of business development, they become hunter or farmer. Then they endlessly debate how best to go-to-market and usually arrive at an unnecessarily complex matrix involving a combination of service, geography, industry, and/or client segmentation. They bore the market because they are talking to themselves.

The vast majority of firms are too flexible when it comes to strategic positioning. They react to any new opportunity or chase any expression of interest from a prospect, making them quite willing to deviate from “strategy.” They are known to chase fads. Or they bluntly apply defined service offerings to a broad range of client business problems, epitomizing the maxim, “If you only have a hammer, everything looks like a nail.”

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Branding Needs Rebranding

The past fifteen years has been amazing for the practice and profession of branding. Its influence and application is undisputed. Branding is now a primary consideration and investment for any business or organization. It is also part of society’s generally accepted lexicon. For fun, over the next few days I ask you to keep track of how many times you hear the word “brand” in any context and how often you say it. You will be amazed at the number especially given that twenty years ago you would be hard-pressed to hear it at all.

To be fair and accurate, branding did not come out of the blue. Arguably, it has been around in a commercial sense for centuries. In the mid 20th century branding was first documented and formalized through the efforts of Procter & Gamble and other consumer products companies. For theiStock_000016171352XSmall next fifty years that is where branding remained. It was mostly applied to cars, colas and confectionary.

At the turn of this century branding exploded. It was soon employed by every type of business and organization (and in too many contexts and situations). Curiously, there is precious little thinking or writing on why this happened. Let me take a stab at it. Think back to 2000 and 2001 before the Dotcom bust.

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