Organizations and individuals within the professional services world face the unenviable task of making the intangible tangible. They are challenged to explain how they measure, qualify and quantify what they do for their clients in order to keep and attract new business.
In our experience working with financial professionals, accountants, law firms, doctors and other types of professional service providers, the methods to generate new revenue start and (in many cases) end with brand identity.
Your brand – in the sense that it encompasses logos, taglines, sponsorships, naming rights, etc. – is one element of what your business is, but not who it really is. What you perceive your organization to be is not necessarily how customers and clients view who you are.
At WordWrite, we believe in a different approach.
Certainly we all remember our favorite marketing slogans and advertising taglines. But we are hard wired to remember stories on a deeper level. We remember a tagline because it was associated with a product. We remember a story because of its meaning and impact on how we view the world around us.
A tagline does not provide a true connection, true influence or true motivation to make a business decision. It’s simply a byproduct of your story.
That’s why we believe Story with a capital “S” trumps brand in B2B communications. In our definition, “Story” means why you exist and why someone would value your services over your competition.
If you dig deeper into analyzing the brand vs. story argument, you’ll find countless examples of organizations, agencies and consultants blurring the line between what they describe as “brand” and what we call “Story.”
For instance, another agency blog observes: “Professional services brands are built on reputation, relationships and intellectual capital—in other words, their people. Employees that have a strong bond and a clear understanding of the corporate brand can be a company’s most valuable brand ambassadors. But to generate this type of enthusiasm and unity, employees must feel a sense of shared purpose, a fundamental connection to the company’s mission, vision and values, and an understanding of how they contribute to the company’s success. And, they must be empowered with the right tools to communicate that brand externally – whether at a social gathering or a business function, through email, social media or a phone call.”
If you substitute the word “brand” with “Story” throughout the piece, then I couldn’t have said it better myself. That definition of brand has nothing to do with taglines or logos. Nor does the following assessment of why you should pick an attorney.
“If you ask our clients or the clients in most any law firm, they will tell you that they hire lawyers, not law firms,” Adam Severson, chief marketing and business development officer for Baker Donelson Bearman Caldwell & Berkowitz, told the Nashville Business Journal, in a blog that (you guessed it) discussed branding.
A prospective client or company considering an accounting firm, law firm or financial planning agency wants to know who will be doing the work, how much it will cost and what resources, expertise and qualifications a professional services organization has at its disposal.
However, nothing within the more accepted, traditional definition of “brand” demonstrates expertise or highlights unique qualifications. Quite frankly, advertising, signs and sponsorships do nothing to distinguish you from the myriad of professional services organizations catering to businesses in a particular city. Charitable support and sponsorship of the arts are table stakes for businesses in all large cities. It’s expected you’ll be a strong presence in your community. But unless you’re a global powerhouse with dozens of offices, you are part of a vast majority of mid-size professional services organizations that are virtually indistinguishable.
Therefore, how can you set yourself apart?
We believe it’s through an authentic story told by those in your organization who know it well enough to convey a true value proposition.
You might call it brand, but we call it “Story” with a capital “S.”
Be sure you know the difference.
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Jeremy Church is an account supervisor for WordWrite Communications. He can be reached at jeremy.church@wordwritepr.com and on Twitter @churchjeremy.
