Rise above the commodification: Differentiating in the professional services industry

By Drew Arthur

Commoditisation: it’s happening all around us. And the accounting and professional services industries are no exception, with firms increasingly facing the pressures of declining prices, reduced profit margins, growing competition, and lowered barriers to entry.

In this increasingly competitive, commoditised market you’re one of the many accounting and professional services providers that your clients can select amongst. And as one of many, it’s not enough to just be ‘one of the crowd’.

In fact, simply going along with what everyone else is doing means that there is:

  • Nothing highlighted about the unique value you can provide;
  • Little risk to customers to switch between providers; and
  • Only price to negotiate with.

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