The differentiation quandary for professional services providers

Or, how to stand out from everyone else who does the same thing as you

Everyone wants to know how to stand out. Standing out is important because if you do, then it’s easier for people to remember you and decide to buy from you (or not). If you’re lost in a sea of sameness, then why should anyone care about you?

The problem with being a professional services business is that what you offer is probably the same as what many of your competitors offer. Particularly in highly specialized sectors like law and finance, what you do is fairly prescribed.

However, the difference lies in how you do it. And because we’re talking about professional services, and that’s essentially people working with people, a lot of it comes down to how people feel working with you. Yes, clients want results, but they also want a positive working relationship. In the words of the great Maya Angelou, “People will forget what you say, but they won’t forget how you make them feel.”

So, how do you differentiate your business so that the clients you want to find you and then buy from you? It’s simple, but it’s not easy: create a brand that is unique to you.

Storytime: the difference between the top and the bottom of the market

I was listening to a podcast about how Chinese electric vehicles (EVs) are starting to penetrate the European car market — the most competitive in the world. Apparently, it’s because nowadays Chinese EVs are good-quality, contain the latest tech, and are cheaper than European or American brands. So Armenian Uber drivers are buying BYDs because they’re the best value cars on the market in their price range. They’re certainly not buying Teslas.

It made me think about another article about the differing ways you should advertise to people buying expensive and cheap products services. The theory is that at the bottom of the market, people vote with their wallets and differentiate on features — ie, the best value for their money (BYD et al).

At the top of the market, on the other hand, they are more likely to buy based on brand loyalty and how something makes them feel (Ferrari & Rolls-Royce). That’s about as far as I’m going to take my car analogy because I’m not a car person.

My point is that if you’re a professional services provider — a lawyer, a fractional C-suite advisor, or a financial planner — you need to choose which end of the market you’re operating in.

Cheap and cheerful vs expensive and exclusive

You can be cheap — you can offer excellent value, plentiful services, at scale, and make your money that way. Your clients will compare your list of services and packages to others’ and what you offer will be the deciding factor. And your clients may move on if they get a better deal elsewhere.

However, if you want to be expensive, you have to play a different game. You want clients who have brand loyalty to you over the long term. And to do that, you need to stand out from your competition by actually cultivating a brand.

The key steps to differentiation

Step 1: The first step is to look inside your business and work out what makes you tick. What makes you different and special? Why are you doing what you’re doing, in the way you’re doing it?

Step 2: The next step is to work out who you want as clients. And of course, if there’s a large enough number of them to keep you in business. Then, work out who they are as people and what they want.

Step 3: Now, bring it all together and identify what it is that simultaneously makes you different, that they want, but that your competitors can’t claim. That’s the magic, that’s your secret sauce, your unique value proposition.

Step 4: Finally, convey that special sauce through everything you put into the world — your website, your photos, your messaging, your logo, your social media, your videos, your intake, your emails, your client gifts, everything.

Simple.

This is all easier said than done and requires strategic thinking, intentionality, and consistency. Of course, this is a lot of work in practice, which is why I have a business as a brand strategist! And your special sauce may evolve over time — mine certainly has in the last five years.

In my latest evolution of my brand, I am a brand and marketing strategist who works with professional services businesses to elevate them and help them reach the clients they want. I make the best stand out from the rest. Let’s talk, if that sounds like something you’re interested in.