Few would argue with the notion that building business relationships is critical in professional services. And while marketing efforts put toward pricing and service strategy, or articulation of a firm’s competitive position, their real advantage lies in the strength of their relationships.
An important body of Hinge’s research, How Buyers Buy, found that most buyers who are trying to select a firm rely heavily on a firm’s reputation and the buyer’s existing relationships. These factors are represented by the top two green bars in the chart below. This makes intuitive sense — if buyers know you and trust you, they are more likely to buy from you.
