How Do Professional Services Firms Demonstrate Value to Clients?

Creating value for clients isn’t enough. Your clients also need to recognize the value you create.

As a busy practice leader, it can be tough to balance the delivery aspects of your role with the continual need to cultivate new business. As you think about your prospects and clients, take a moment to consider your interactions with them.

What kind of impression do you make on your clients? Each time you meet with, talk to, or write to them, you have an opportunity to bring value. Do they think of you as someone who leaves every interaction better than you found it?

Building strong client relationships by creating –and communicating– value is an integral part of establishing your role as a strategic partner. An X-factor in the world of professional services. Strong strategic relationships and a reputation as someone who provides business value will help you stand out from the crowd.

What Does Creating Client Value Mean in Professional Services?

Creating business value should be part of every professional services firm’s mission, but creating value isn’t enough. Firms also need to help clients recognize and understand that value. Recent research from Source Global Research found that only half of clients believe consulting firms create value beyond simply delivering what they paid for, highlighting an important gap between delivering professional services and effectively communicating their broader business impact.

High-quality work is something that’s expected, as table stakes for creating value. To really stand out, look for ways to identify and deliver value above and beyond that expectation. First, it’s important to understand and be able to articulate what drives value for your clients and generates ROI. Are there connections you can create for them, either inside or outside the industry? When you view issues related to the client strategically, can you offer insights to help the client elevate their position or cause? Can you boost their profile by inviting them to speak with you at an industry event?

These are all examples of ways you can create value.

But just because you’re focused on creating business value, does that mean your clients are aware of the value? Not necessarily. Like most of us, clients are busy people, and increasing responsibilities vie for their attention. You may assume they pick up on and appreciate the ways you serve them, but chances are, they don’t. They are living moment to moment and quarter to quarter.

It’s up to you to tie your work to the business value it creates—and to do so in a confident, consistent, yet professional manner.

Watch this related video from Amy Franko to discover how your professional services firm can access high-value relationships. 

How Can You Communicate Your Value to Clients?

To help you communicate business value, remember this simple three-step framework:

1. Demonstrate

 First, you need to effectively demonstrate your value.

• Use data to support the story of your value. For example, in a conversations with a CEO or CFO, rather than talking only facts and figures, use data to help them strategize on decisions they can make to improve their business.
• Share your network. Your network is one of the most valuable assets you can share with your clients. You can do this by connecting clients with one another, with other industry leaders, or potential strategic partners. This builds value by bringing new ideas and resources to the table.

2. Articulate

Clearly describe your value to the client, whether it’s your personal expertise or overall company expertise.

• Focus on conveying the result and business benefit, and not just the tasks that it took to get there. That’s where your value as a consultant shines.
• Don’t be afraid to ask your client what priorities are most valuable to them; you can use those insights to guide your work. Then integrate those priorities into your client communications, whether it’s an update email, a conference call, or an account review.

3. Celebrate

Finally, create ways to celebrate the success and further collaborate with your client. Collaborations can cement your value and help insulate you from competition.

• Write thank you notes to express gratitude for the opportunity to work with them and help them achieve their goals. While this may be a small detail, only a small percentage of people write personalized notes.
• Document your value through case studies that also showcase the client. Or more informally, keep note of the value you’re creating together and share that with your client once a quarter.

With this three-step  framework, you’ll have the elements you need to both create and communicate your value, which will result in more loyal clients.

Who Can Help Your Professional Services Firm Demonstrate More Value to Clients?

Amy Franko helps professional services firms demonstrate greater client value, deepen relationships, and create sustainable growth. Ready to deliver greater value to your clients? Contact Amy to schedule a conversation.