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Professional Services

                                                         INDUSTRY FACTSHEET
Industry Overview
Professional services are defined as infrequent, technical or unique functions performed by independent contractors
whose occupations are based on rendering these services. Professional services often involve providing expert advice
(such as consulting), but also include routine operations, transactions processing, design work and project supervision.
This industry includes specialties such as: accounting, advertising and marketing, architectural, consulting, engineering,
IT, legal and scientific research services. Other examples of professional services contracts are: public relations
professionals, recruiters, copywriters, translators, value-added resellers and web designers.

Business Challenges
        Impacted by Economy: During times of economic challenge, many corporate customers minimize outside
        expenses or delay moving forward with certain projects. This could mean limiting the usage of professional
        service firms, thus impacting the firm’s revenue.

        Greater Liability: Since professional service individuals are heavily involved in the operations of their corporate
        customers, they are faced with a great risk of blame or liability if their advice doesn't produce the desired
        results.

        Success Relies Heavily on Credibility: Those within the professional services industry strongly rely on name
        recognition and reputation, especially in highly competitive sectors. Damage to a firm or individual’s reputation
        could result in loss of business and hinder client retention. Not to mention, reputation damage to a professional
        services firm can be challenging to repair.

Industry Opportunities
        Companies Outsource Services: Due to the need to drive greater efficiency, corporate outsourcing is increasing
        as companies move away from maintaining a large internal staff of professionals. In other words, companies are
        practicing a management model where in-house staff coordinates work with outside vendors, such as
        professional services firms.

        Greater Need for Expert Advice: As technology, trends and regulations evolve, corporate operations become
        more complex leading companies to seek expert advice outside their organization. In many cases, professional
        services firms are called upon to assist, rather than training existing employees on new technologies or
        regulations.

        International Expansion: Many professional services can be easily delivered to clients outside the country in
        which the firm resides. With the use of Internet technology and international conferencing tools, firms can
        expand the reach of their services outside national borders.




                                     Copyright © 2011 by Research and Management. All rights reserved.
Professional Services

                                                         INDUSTRY FACTSHEET
        Providing Multi-Service Solutions: Some professional services are similar in nature, such as marketing and
        advertising; graphic design and web design; architecture and engineering; or management and IT consulting.
        This opens the door for firms to offer multi-service solutions.

Digital Marketing Trends
Search Advertising Spending

When evaluating search advertising of the professional services
industry in the US, we see that attorneys and legal services spent
an average of $2,560 on search advertising during Q3 2009,
targeting approximately 105 keywords. Meanwhile, dentists
targeted an average of 74 keywords and spent $2,004 on search
advertising during that period. Approximately $1,666 was spent
on search advertising by those who work in air conditioning
services (55 keywords).

Physicians and surgeons spent $1,728 on search advertising
based on about 57 keywords. During the third quarter of 2009,
plumbing contractors targeted about 74 keywords and invested
$1,904 advertising on search engines. Meanwhile, construction
contractors spent about $1,428 on search advertising and
targeted 40 keywords. Meanwhile, those who offer landscaping
services invested $815 on search advertising and targeted 33
keywords while doing so. Other professional services mentioned
in the eMarketer study include: pest control companies, auto
repair and service companies, chiropractors, movers, electric
contractors and more (see the chart on the right).

Social Media Usage

In the chart below, we can see the social media uses of companies within various industries including those in the
professional services industry. Specifically, this chart illustrates the percentage of those currently using social media,
planning to use social media and not currently using social media or have no plans of using it. When evaluating the
services industry, we see that 66% currently use social media as part of their marketing strategy, while 21% have plans
to start integrating social media in their marketing mix. Only 11% of respondents from the services industry said they are
not using social media or have no plans of using it.




                                     Copyright © 2011 by Research and Management. All rights reserved.
Professional Services

                                            INDUSTRY FACTSHEET
                                          Other services mentioned in the study include communications
                                          companies in which 71% stated they currently use social media; 16%
                                          indicated they are planning to use it; and only 9% said they are not
                                          currently leveraging social media or have no plans on using it.

                                          Digital Marketing Opportunities
                                          Immediate Areas of Focus for Social and Mobile

                                          When we look at the latest digital marketing opportunities of social
                                          media and mobile for the professional services sector, their main
                                          considerations and focus should be on how they can use these
                                          technologies to ensure the expertise of their company is effectively
                                          communicated by their experts on staff and their overall brand
                                          reputation is positively maintained. Some Professional Service
                                          companies have jumped onto the social and mobile train sooner than
                                          others. But for the most part, when it comes to what social
                                          technologies and mobile marketing strategies they should focus on,
                                          below is where we see the majority starting from a strategy
                                          standpoint.


                                         Social Technologies
Blog   Facebook   Twitter LinkedIn YouTube News Feeds/                      Social          Forums   Review
                                           Social Alerts                    Bookmarking              Sites




                                          Mobile Marketing
                     Mobile      Mobile Local            Mobile             Mobile
                     Site        Search                  Ads/ Text          Apps




                        Copyright © 2011 by Research and Management. All rights reserved.
Professional Services

                                                          INDUSTRY FACTSHEET
Additional Considerations for Social Media


      Primary Uses for Social Media          Biggest Concerns for Social Media                Recommendations for Social Media
       Intelligence gathering and               Potential reputational risk                       When promoting experts using
       prospecting to improve                   A lack of control of both the                     social media, select candidates
       competitive advantage                    message and the medium                            carefully
       Increased visibility through             The internal resources required                   Ensure experts have a good
       increased web traffic or                 for engagement                                    balance between their personal
       enhanced Google search page                                                                brand and the brand/reputation
       rankings                                                                                   of the firm itself
       Enhanced reputation and sales                                                              Focus on quality of content and
       effectiveness                                                                              conversation, rather than quantity
       Potential for greater client                                                               Establish guidelines to ensure
       satisfaction and/or                                                                        consistent presentation of the
       communications                                                                             firm and its brand


Popular Pay-Per-Click Keywords

                           Keyword                               Advertiser             Global Monthly       Estimated Cost
                                                                Competition                Searches             per Click
           professional services                                   0.14                      6600                 $4.69
           canon professional services                             0.04                      1600                 $1.62
           professional services council                           0.05                      1000                 $6.43
           msa professional services                               0.04                      720                  $0.60
           professional services agreement                         0.23                      590                  $1.45
           it professional services                                0.77                      590                  $9.07
           professional services marketing                         0.35                      590                  $3.07
           professional services group                             0.02                      390                  $9.61
           professional services contract                          0.36                      320                  $0.64
           professional it services                                0.85                      260                  $9.44
           professional business services                          0.14                      260                  $5.22
           professional services industries                        0.05                      210                  $2.07
           selling professional services                           0.13                      170                  $2.32
           services professional                                   0.09                      140                  $0.10
           professional services management                        0.35                      110                 $12.04
           business professional services                           0.2                       73                  $4.55
           professional services online                            0.18                       58                  $0.10
           professional services business                          0.15                       58                 $16.46
           professional services it                                0.54                       36                  $8.86
           professional services guideline                           0                        22                  $0.10



                                      Copyright © 2011 by Research and Management. All rights reserved.

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Professional Services Fact Sheet (Digital Marketing) by WSI Online

  • 1. Professional Services INDUSTRY FACTSHEET Industry Overview Professional services are defined as infrequent, technical or unique functions performed by independent contractors whose occupations are based on rendering these services. Professional services often involve providing expert advice (such as consulting), but also include routine operations, transactions processing, design work and project supervision. This industry includes specialties such as: accounting, advertising and marketing, architectural, consulting, engineering, IT, legal and scientific research services. Other examples of professional services contracts are: public relations professionals, recruiters, copywriters, translators, value-added resellers and web designers. Business Challenges Impacted by Economy: During times of economic challenge, many corporate customers minimize outside expenses or delay moving forward with certain projects. This could mean limiting the usage of professional service firms, thus impacting the firm’s revenue. Greater Liability: Since professional service individuals are heavily involved in the operations of their corporate customers, they are faced with a great risk of blame or liability if their advice doesn't produce the desired results. Success Relies Heavily on Credibility: Those within the professional services industry strongly rely on name recognition and reputation, especially in highly competitive sectors. Damage to a firm or individual’s reputation could result in loss of business and hinder client retention. Not to mention, reputation damage to a professional services firm can be challenging to repair. Industry Opportunities Companies Outsource Services: Due to the need to drive greater efficiency, corporate outsourcing is increasing as companies move away from maintaining a large internal staff of professionals. In other words, companies are practicing a management model where in-house staff coordinates work with outside vendors, such as professional services firms. Greater Need for Expert Advice: As technology, trends and regulations evolve, corporate operations become more complex leading companies to seek expert advice outside their organization. In many cases, professional services firms are called upon to assist, rather than training existing employees on new technologies or regulations. International Expansion: Many professional services can be easily delivered to clients outside the country in which the firm resides. With the use of Internet technology and international conferencing tools, firms can expand the reach of their services outside national borders. Copyright © 2011 by Research and Management. All rights reserved.
  • 2. Professional Services INDUSTRY FACTSHEET Providing Multi-Service Solutions: Some professional services are similar in nature, such as marketing and advertising; graphic design and web design; architecture and engineering; or management and IT consulting. This opens the door for firms to offer multi-service solutions. Digital Marketing Trends Search Advertising Spending When evaluating search advertising of the professional services industry in the US, we see that attorneys and legal services spent an average of $2,560 on search advertising during Q3 2009, targeting approximately 105 keywords. Meanwhile, dentists targeted an average of 74 keywords and spent $2,004 on search advertising during that period. Approximately $1,666 was spent on search advertising by those who work in air conditioning services (55 keywords). Physicians and surgeons spent $1,728 on search advertising based on about 57 keywords. During the third quarter of 2009, plumbing contractors targeted about 74 keywords and invested $1,904 advertising on search engines. Meanwhile, construction contractors spent about $1,428 on search advertising and targeted 40 keywords. Meanwhile, those who offer landscaping services invested $815 on search advertising and targeted 33 keywords while doing so. Other professional services mentioned in the eMarketer study include: pest control companies, auto repair and service companies, chiropractors, movers, electric contractors and more (see the chart on the right). Social Media Usage In the chart below, we can see the social media uses of companies within various industries including those in the professional services industry. Specifically, this chart illustrates the percentage of those currently using social media, planning to use social media and not currently using social media or have no plans of using it. When evaluating the services industry, we see that 66% currently use social media as part of their marketing strategy, while 21% have plans to start integrating social media in their marketing mix. Only 11% of respondents from the services industry said they are not using social media or have no plans of using it. Copyright © 2011 by Research and Management. All rights reserved.
  • 3. Professional Services INDUSTRY FACTSHEET Other services mentioned in the study include communications companies in which 71% stated they currently use social media; 16% indicated they are planning to use it; and only 9% said they are not currently leveraging social media or have no plans on using it. Digital Marketing Opportunities Immediate Areas of Focus for Social and Mobile When we look at the latest digital marketing opportunities of social media and mobile for the professional services sector, their main considerations and focus should be on how they can use these technologies to ensure the expertise of their company is effectively communicated by their experts on staff and their overall brand reputation is positively maintained. Some Professional Service companies have jumped onto the social and mobile train sooner than others. But for the most part, when it comes to what social technologies and mobile marketing strategies they should focus on, below is where we see the majority starting from a strategy standpoint. Social Technologies Blog Facebook Twitter LinkedIn YouTube News Feeds/ Social Forums Review Social Alerts Bookmarking Sites Mobile Marketing Mobile Mobile Local Mobile Mobile Site Search Ads/ Text Apps Copyright © 2011 by Research and Management. All rights reserved.
  • 4. Professional Services INDUSTRY FACTSHEET Additional Considerations for Social Media Primary Uses for Social Media Biggest Concerns for Social Media Recommendations for Social Media Intelligence gathering and Potential reputational risk When promoting experts using prospecting to improve A lack of control of both the social media, select candidates competitive advantage message and the medium carefully Increased visibility through The internal resources required Ensure experts have a good increased web traffic or for engagement balance between their personal enhanced Google search page brand and the brand/reputation rankings of the firm itself Enhanced reputation and sales Focus on quality of content and effectiveness conversation, rather than quantity Potential for greater client Establish guidelines to ensure satisfaction and/or consistent presentation of the communications firm and its brand Popular Pay-Per-Click Keywords Keyword Advertiser Global Monthly Estimated Cost Competition Searches per Click professional services 0.14 6600 $4.69 canon professional services 0.04 1600 $1.62 professional services council 0.05 1000 $6.43 msa professional services 0.04 720 $0.60 professional services agreement 0.23 590 $1.45 it professional services 0.77 590 $9.07 professional services marketing 0.35 590 $3.07 professional services group 0.02 390 $9.61 professional services contract 0.36 320 $0.64 professional it services 0.85 260 $9.44 professional business services 0.14 260 $5.22 professional services industries 0.05 210 $2.07 selling professional services 0.13 170 $2.32 services professional 0.09 140 $0.10 professional services management 0.35 110 $12.04 business professional services 0.2 73 $4.55 professional services online 0.18 58 $0.10 professional services business 0.15 58 $16.46 professional services it 0.54 36 $8.86 professional services guideline 0 22 $0.10 Copyright © 2011 by Research and Management. All rights reserved.