So, you want to build a reputation, earn credibility and attract high-paying clients? Some of the quickest reputation-building routes are to host seminars, give speeches and write books and articles.
But why should potential clients listen to you? What makes you the expert? Who appointed you thought leader?
The answer should be proprietary research that you conduct.
The information that a potential client most wants to know is, “How does my company compare to others?”
There is a hidden fear in the back of the mind of every business leader: are we missing out on something? Nobody wants to be behind the learning curve, especially in today’s rapidly changing business environment.
Examples are abundant of proprietary research from professional service and consulting firms. Consider some of these news articles:
- Cleveland and Nashville are among the ten cities that will be hot for hotel development in the near future, says hotel real estate consultants Laventhal & Horwath
- Clients list “creativity” as the most important criterion when selecting a new agency, according to the fourth annual Thomas L. Harris/Impulse Research public relations survey
- Most San Diego employers say they will generally hold the line when it comes to new hiring in the fourth quarter, according to the latest survey by staffing agency Manpower Inc.
“Clients today are bombarded with articles, speeches and seminars that contain generalities and do not distinguish the author or presenter from any of his or her competent competitors,” said former Harvard Business School professor David Maister.
In his highly regarded book Managing The Professional Service Firm (a must-read book for all professionals), Maister discussed how to demonstrate that you have something to offer that your competitors do not.
The answer, said Maister, is a neglected tool: conducting proprietary research on topics of interest to prospective clients. This can be technical or professional in nature, or it also can be general survey research. You can contact potential clients and ask to interview them for an article or book that you are writing.
By conducting proprietary research, you obtain special information that prospective clients can’t find elsewhere. The foundation of attracting high-paying clients strategies is to give away useful information that demonstrates to clients you have the expertise to help them. Giving away general problem-solving information is good, but it is not good enough.
Maister, who reportedly charged $15,000 per day to counsel professional service firms on how to improve their business development, recommended surveying a cross-section of executives in a given industry.
Ask them to prioritize trends they worry about most, list tactics that are of the most use to them, and name devices they use. Then you can report rankings of the most threatening issues and most popular tactics. For enhanced credibility, some firms get client industry associations to co-sponsor and help guide the research.
