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While you make money in general as a company, you don’t necessarily know which projects, clients, or service lines are profitable and which are not. Our study finds that only 2 in 10 service companies track their whole unit economics on the sub-project level. If you don’t know where your profit center is, you can’t grow.
Too many companies believe that they are “yet another B2B lead generation agency” and they need to compete on price. It’s critical to pick the right customer segment, truly understand your buyer persona, and focus on business goals. Once you have it, you can move to ROI/Costs calculation to show your true differentiated value. Otherwise, you’re competing on price solely, and that’s not the best strategy in a long run.
We usually ask one question: “do you know billability and profit of your every project?”. If not, then this is a natural first step. If you don’t know how your revenue engine works, you simply can’t optimize it. Start identifying your profit areas, see which projects go belly up, where do you have underdelegation of tasks, and which employees add the most value. If you don’t know how to start, we’re happy to help.
Start using pricing strategies that align with the value they provide to clients instead of cost-based or competitive-based approach. We can help you show the real ROI of your services rather than simply charging an hourly rate. According to benchmarks, you can charge 28% more if you apply value-based pricing.
As a professional services firm, you need to allocate the resources to create a profit lever. If you underdelegate, you have too many seniors doing low-value work. If you overdelegate, the quality drops. We will analyze the projects and accounts together with you, to better allocate resources and boost margins.
According to the Hinge benchmark, 39% of professional services companies had some unprofitable projects and accounts. While you can’t reduce them to zero, it’s essential to limit them as much as possible. We have a solid experience of identifying the right areas of profitability increase, creating improvement plans, and, most importantly – implementing them with your whole team as a recurring process.
We've hired Valueships to help us with the pricing challenge at Callpage, and we're hiring them for a 2nd time for Certifier. What I like about them is their high responsiveness, agility, and data-driven approach. They're not afraid to make the recommendations, which you may not fully agree on initially, but they support it with facts. They have vast knowledge on SaaS, benchmarks, and best-in-class examples. I recommend them for pricing projects in software businesses.
We've hired Valueships to help us with the pricing challenge at Callpage, and we're hiring them for a 2nd time for Certifier. What I like about them is their high responsiveness, agility, and data-driven approach. They're not afraid to make the recommendations, which you may not fully agree on initially, but they support it with facts. They have vast knowledge on SaaS, benchmarks, and best-in-class examples. I recommend them for pricing projects in software businesses.
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Consulting for professional services involves providing expert advice and guidance to businesses in industries such as legal, accounting, advisory, and agency services. Consultants help these firms optimize their strategies, processes, and systems to drive growth, increase efficiency, and enhance client satisfaction.
Consulting is important for professional services as it helps firms identify opportunities for growth, streamline operations, implement best practices, and navigate the competitive landscape. Consultants bring industry expertise and innovative solutions to address challenges and support firms in achieving their goals.
Professional services consultants cater to various industries, including legal, accounting, marketing, advertising, management consulting, and more. They support businesses across sectors in enhancing their service offerings, improving operations, and driving growth.
Professional services consultants offer services such as business strategy development, process optimization, technology implementation, marketing and sales improvement, talent management, and risk mitigation to help firms achieve their objectives and enhance client satisfaction.
Hiring a professional services consultant can help firms gain a fresh perspective on their business, uncover hidden opportunities, implement industry best practices, accelerate decision-making, and access specialized expertise that may not be available in-house.
Professional services consultants can assist with digital transformation by evaluating a firm's current technology infrastructure, recommending appropriate tools and solutions, developing a comprehensive implementation plan, and guiding the firm through the transition to ensure a smooth and successful digital transformation.
Professional services consultants play a crucial role in talent management by helping firms develop strategies for recruitment, retention, and development of top talent, creating performance management systems, and fostering a positive organizational culture to maximize employee engagement and productivity.
Professional services consultants help with risk mitigation by assessing potential risks in a firm's operations, processes, and technology, developing strategies to manage and minimize those risks, ensuring compliance with industry regulations, and implementing best practices to create a more resilient and sustainable business.
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