As a business services company, you have a unique challenge as you don’t have a physical product. Instead, you offer superior services or solutions and you rely heavily on the relationships that your sales and customer success teams build. You have created a successful company on your people and your brand, and as such, your brand is incredibly important to you.
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Clever Tip #2: Worry About Growing Revenue, Not Your Market Share
Product companies are taught that they must be number one or two, in terms of market position, to be successful. Service brands, on the other hand, should concentrate on growing revenue (not gaining market share, as product companies do). This is especially true because many business services companies focus on specific geographies, such as a local city or state, rather than owning the entire market nation-wide (or even thinking about their global reach). Business services companies that focus on delivering results will see that revenue will grow naturally by ensuring happy, satisfied customers that are willing to share the results with peers in the marketplace.
In the business services industry, whether it be accounting, law, architecture, or consulting, local markets are usually fragmented and crowded with many successful firms generating considerable revenue from like-services. Instead of concerning yourself with your position in the market, focus your efforts on improving the bottom line and ensuring happy, satisfied customers - the rest will follow naturally.
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Consider implementing an account-based marketing approach as it is based on the collective decision-making process. It takes into account that most B2B buying decisions are not made by a single person, but rather by a collective group of people. This is where account-based targeting comes in handy. Since each company has its own dedicated IP address, it is easy to identify them collectively by looking at IP addresses. So if you want to target an account, you can target those IP addresses specifically, ensuring you are marketing to the correct group of people in the most efficient way possible.
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