Why Clients Seek Out Visible Experts in Accounting & Finance?
Previously, we discussed how clients “check out” or seek to evaluate potential accounting & financial services providers they have heard of or compare providers with whom they are familiar. Now, we’re going to discourse what motivates them to find high visibility accounting and finance expertise.
“Hinge’s past research has found that accounting and financial services buyers are seeking out providers in a very specific way. In an industry in the midst of unprecedented upheaval, buyers are finding confidence in experts with high profiles and strong reputations,” said Lee Frederiksen, Managing Partner at Hinge.
Hinge Marketing defines The Visible Expert as a professional with high marketplace visibility and a reputation for expertise. These are the people who are also called “industry stars” or a well-known expert in their respective field. Having visible experts in your firm promotes growth, positive reputation, more partnerships and new business, and the ability to close sales.
The reasons for seeking visible experts cited above generally fall into four categories:
- Solving a Critical Problem
The most common motivator for seeking an expert is a lack of internal expertise, which falls under this category. Clients generally turn to outside sources when solving a high-impact problem because they have limited in-house experts and time constraints.
- Building the Brand and Winning New Business
The desire for firms to attract new clients and tap into new markets are the next most common factors. The affirmative reputation and knowledge of visible experts help in building the company’s brand and in turn, help them create ties with potential clients.
- The Confidence Conferred by an Expert
Visible experts sheds a positive light to their firm, which causes the client to believe that the expert’s firm is wonderful, too. This is called the halo effect, which is the psychological phenomenon that creates a sense of confidence for the client having the opportunity to work with the best.
- For a Legal Proceeding
The least common factor, among others not mentioned, for the respondents to search for visible experts is the need to engage one when performing legal services.
Accounting firms can benefit a lot from the credibility of visible experts. It is important to value these group of professionals and help them develop as they contribute to the firm’s growth and brand-building activities.
The Outsourced Accountant supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 896 522/0800 452 853, and download our e-book.