How Head Games Can Ruin Your Brand Strategy

HInge HEAD GAMES PLAYER 1 PLAYER 2 I BUYERS I SELLERS PERCEPTIon GAPS Im PROFESSIONAL SERYICES For our new book, Inside the Buyer's Brain, we studied over 1500 matched buyers and sellers in the professional services marketplace in order to understand the relationships from both sides. Just how differently do providers and their clients see the world? START NEW GAME SELLERS BRING THE WRONG SOLUTIONS. When you're focused on the wrong challenges, you bring the wrong solutions. Buyers' Top 5 Business Challenges as Seen by Buyers and Sellers. 73% 42% 34% 15% I Buyers I Sellers Dealing with a difficult economy/ competitive marketplace Budget/financial issues 33% 12% 28% 9% 22% 15% Attracting & developing new business Finding keeping good people Keeping costs in control BONUS POINTS: Sellers dramatically underestimated nine out of the top ten problems faced by buyers - or named the wrong challenges entirely. SELLERS D on'T KNOW WHO THEYʼRE PLAYING. Most sellers' competitors aren't who they think – it's easy to overlook smaller or unconventional contenders. Overlap Between Competitors Named by Buyers and Sellers. I Buyers 25.0% I Sellers I Overlap BONUS POINTS: If sellers don't know who they're competing against, they have a hard time differentiating themselves from the competition. SELLERS' SOLUTIONS AREN’T AS RELEYANT AS THEY THINK. So sellers do a bad job of explaining why their services are relevant to buyers' problems – and develop the wrong kind of reputation. How Important Are Sellers' Services to Solving Key Business Challenges? (Rated 9 or 10 on a 0-10 scale) IBuyers 42% 39% I Sellers 31% 30% 23% 18% 18% 10% Accounting/Finance A/E/C Management Consulting Technology BONUS POINTS: Technology services providers rated their importance to clients' problems 4 times higher than their buyers. TO BUYERS, you'RE AS GOOD AS youR REPUUTATION. Sellers don't realize just how much buyers value their reputation for producing results. So they don't focus on it enough. Did Having a Good Reputation Tip the Scale in Favor of the Winning Firm? 22% of buyers say yes 13% of sellers say yes BONUS POINTS: Most buyers said reputation was the top factor separating winners from runners-up. SELLERS WORRY TOO MUCH ABOUT THE PRICE TAG. Overwhelmingly, sellers think cost is buyers' top priority. It's not. That means sellers are talking about price when they need to focus on reputation. Is Price Buyers' Top Selection Criterion? Sellers Buyers 57% 29% of sellers say yes of buyers say yes BONUS POINTS: When your competitors are focused on price, speaking to buyers' real priorities is even more powerful. CONTINUE GAME? Don't worry – it's not game over. For a deeper INSIDE THE BUYER'S BRAIN look at what makes buyers and sellers tick, download our free book, Inside the Buyer's Brain. www.hingemarketing.com/ibb Hinge Branding and Marketing for Professional Services Firms www.hingemarketing.com Designed by Hinge