To address this uncertainty, government contractors must understand how and why their public buyers are behaving differently than in the past.

In our most recent study of buyer behavior, we see that reputation ratings across the industry continue the decline that began more than five years ago. And while overall demand remains strong, government buyers are more price- and value-conscious than they were two years ago. But there is an upside. Our analysis also uncovered opportunities to become more relevant and valuable to public-sector buyers.

About the Research

The Hinge Research Institute has studied more than 40,000 buyers and sellers over the past decade—giving us unparalleled insight into the professional services industry.

Our most recent study of the government contracting industry explores the perspectives of almost 70 buyers and over 140 sellers and examines their perspectives across the following topics:

• How well do sellers of government contracting services really know their buyers?
• What are buyers’ key business challenges?
• How do clients feel about their service providers?
• How do buyers search for service providers?
• How do buyers evaluate service providers?
• How do buyers make their final selection?

Below are four key insights that came out of our report.

Insight #1: The overall perception of government contractors’ reputation continues to decline

When it comes to reputation and value, government contractors are rated lower than all other professional services industries. And government buyers ranked their contractors’ reputations almost 25% lower than they did in 2018 (see chart below). To address this concerning trend, government contractors should pay particular attention to the quality of their service delivery and actively communicate the value they create.

Warren Buffet once said, “It takes 20 years to build a reputation and five minutes to ruin it.” With that sage advice in mind, it would be a good time for government contractors to take notice of this multi-year trend and take proactive steps to reverse it. The good news is that reputation is a perception, not necessarily reality—so for those so inclined, there is an opportunity to take action and change that perception.

Insight #2: Relevancy to solving key issues is greater than other Professional Services

There is some good news in the data. Government contractors are perceived as being more relevant to solving their clients’ challenges than any of the other professional services industries in this year’s study.

So be sure to clearly communicate the value you deliver to your government clients and describe the positive impact you’ve made.  This should make closing more business—with both existing clients and new ones—far easier.

Insight #3: Technology and data Issues are a top challenge for buyers.

Today’s government buyers are focused on modernization. Advanced technology and data issues are even more important than many government contractors realize. In the business development process, clearly lay out your technical capabilities, and use case stories to show how you’ve solved similar problems before. To the extent you can, explain how your team, services and expertise are different from your competitors.

To win in a competitive marketplace, your firm needs to first understand what your buyers truly value, then deliver that value in a differentiated way.

Insight #4: Featuring thought leaders within your organization is more important than ever

When it comes to searching for work-related topics, public buyers still ask peers or colleagues for recommendations (a perennial favorite), but they are increasingly seeking out thought leadership, such as listening to an expert speak or reading an article or blog post.

“Look on social media” might be a less popular research method in 2022, but don’t underestimate the power of LinkedIn. It remains the dominant social media platform used by government buyers.

2023 is a year to invest in “standing out from the crowd”

If your professional services firm provides solutions for federal, state or local government—and you hope to improve the quality and profitability of your work while differentiating services in a competitive marketplace—you success may depend on two factors: 1) your ability to objectively understand your buyers (this study can help), and 2) your willingness to adjust your services and pursuit strategy to meet the needs of a changing marketplace. If you can elevate your firm’s value and reputation (especially when it comes to technology and data issues), your organization can rise above the common government services firm.

To get the full study and recommendations, purchase the full study, Inside the Buyer’s Brain, Fourth Edition: Government Contracting.

Research Report

Inside the Buyer’s Brain, Government Contracting Edition

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The post New Research: How Buyer Expectations Have Changed in the Government Contracting Industry appeared first on Hinge Marketing.

For many companies, even a small percentage of that is a windfall. It’s no wonder that organizations invest significantly into efforts to secure contracts with the Federal government. But while many companies have mastered the capture and business development processes endemic in government contracting, tracking potential opportunities over years and years, these opportunity-specific efforts alone are no longer enough. The barrier-to-entry has begun to shift and it’s requiring contractors to adjust their business-to-government (B2G) marketing approaches to include comprehensive firm-level strategies that increase the visibility of their expertise.

Federal agencies comprise the largest consumer of goods and services in the economy and have a set of challenges that are different from commercial customers. Contracting officers must satisfy market research requirements, solicit competitive bids, and comply with federal acquisition processes when evaluating potential vendors and they need credible information readily available. Sure, if your firm makes tanks and airplanes, there are only a few companies that are in the competitive landscape to evaluate, but in general, government contractors can’t simply rely on past performance, or the boilerplate language in their bid packages to win the award. The explosion of information online has raised the bar for how contractors approach the market by making sure their expertise is evident through well-crafted and relevant thought leadership content. Ultimately, that’s what makes them the “safe” choice.

First, Nail Down Your Overall B2G Strategy

Newcomers and longtime contractors alike need to devote resources to planning on an ongoing basis. Know your target agencies and their missions, where money will be spent, and potential primes or subcontractors. Many contracts are set-aside for firms that meet disadvantaged and other criteria, so understand the capabilities of possible teaming partners. Also know what contract vehicles you can use, certifications you should highlight, and what makes you different from other firms. All these elements will be important to weave into a content marketing program that helps you position your firm appropriately.

Next, Build Your B2G Content Marketing Strategy

Failing to plan is planning to fail. No more in B2G marketing is that old adage true than when it comes to creating a content marketing strategy. All too often, firms choose to buy into the philosophy of creating visibility through content without a solid plan in place. They jump in and start blogging, perhaps they create a whitepaper, post once a month on social media and when they don’t see revenue within the first quarter that has direct attribution to the content they are producing, they stop – give up – and swear off content marketing as not fit for B2G businesses. Building your reputation and visibility (and ultimately seeing the impact from a revenue perspective) takes time, but with a very focused program, the benefits will accrue.

Ensure your plan focuses on developing educational content that addresses the topics your audience cares about and utilizes the channels where they seek information. Settle on a handful of overall themes, conduct keyword research, and start to build out an editorial calendar. Aim to repurpose your content so that a series of blog posts on a particular topic can be combined into a premium content piece such as a whitepaper, for example. Promote it in social media, and ask your audiences via your website or a regular email to download the whitepaper in exchange for an email address. Then continue nurturing them with other high-quality, relevant content.

Ultimately, the goal of a B2G content marketing program is to provide educational content that helps your audiences do their jobs better. Once you’ve piqued their interest, they will come back for more, creating a multiplier effect – your reputation and visibility will precede your next call to the prime or sub you want to team with, the contracting officer at an agency will know of you before the bid lands on their desk, and your next star employee will have already identified you as a firm of choice in their next career move. Content marketing principles transcend industries and enable you to be a hub of information in your niche. Loyal followers will know how you think and get a sense of what it would be like to work with you – even before they speak with you for the first time.

The post Why You Need a Business To Government (B2G) Content Marketing Strategy appeared first on Hinge Marketing.

Despite these difficulties, some government contracting firms managed to achieve unprecedented levels of growth and profitability, even as their no growth peers struggled to stay above water.

These insights come from the Hinge Research Institute’s annual High Growth Study.

Each year the study examines and reports on the specific strategies and tactics implemented by the fastest growing professional services firms. We call these firms the “High Growth Firms.”

By comparing your firm’s marketing and operational practices to those of the high performers, you can start modeling your company after some of the fastest-growing firms in the world.

If you’re interested in purchasing the full report, click here.

Defining High Growth Consulting Firms

A firm is categorized as a “high growth” firm when it has a compound annual growth rate of 20% or greater over a three-year assessment period. About one out of four government contracting firms in the High Growth Study sample earned the high growth distinction by achieving a median growth rate of 26% in 2021. In Figure 1, we see that high growth government contracting firms grew about two and a half times faster than their average growth peers.

Figure 1: Median Growth Rate of Government Contracting Firms in 2022 High Growth Study

Not only are the fastest growing firms far outpacing the no growth and average growth government contracting firms, 41% of high growth government contracting firms were also highly profitable.

Of course, all firms want to be counted among those realizing this kind of growth and profitability. So what does the data reveal about these high growth firms?

Key Advantage 1: Technology

High growth government contracting firms have a significant advantage with regard to their overall adoption and implementation of business software and automation products. We describe this in the survey as automation maturity and ask participants to rank their firms on a scale of 0 (no automation) to 5 (optimized).

Figure 2 shows that high growth government contracting firms reported higher levels of automation maturity the two categories we studied: core business software and marketing/sales automation.

Figure 2: Automation Maturity (High Growth vs. No Growth)

High growth government contracting firms have the biggest advantage in core business software, which is at the heart of supporting service delivery. Interestingly, workflow and process automation is the #1 topic that most firms want to learn about this year. The high growth firms are already there.

The technology and software industry is the only other segment we studied where high growth firms showed such an advantage in both automation maturity categories. This is another indicator of the central role such software solutions play.

Key Advantage 2: Talent

High growth government contracting firms have access to more highly skilled talent than their no growth peers, especially in functions such as SEO, social media, and research. High growth government contracting firms enjoy the biggest skills advantages in the area of SEO.

Participants in the 2022 High Growth Study rated their firm’s overall skill level on a scale of 1-10 in a variety of different skill sets. High growth firms consistently outperformed their no growth peers in key areas. Figure 3 shows the top 5 marketing techniques where high growth government contracting firms have the largest advantage over their competitors.

Figure 3: Marketing Function Skill Rating

Key Advantage 3: Marketing

Discovering how high growth firms market themselves has always been at the heart of the High Growth Study—and this year’s study dives deeper than ever into uncovering the specifics.

One major change this year was how content creation returned to its top spot as the number one marketing priority of high growth firms. The fastest growing consulting firms have known for years the important role that content creation plays in marketing their expertise. They know that developing content that addresses clients’ top business challenges is key to being a thought leader in their industry.

Meanwhile, no growth firms are prioritizing investments to catch up on website performance, gathering the right analytics, and setting the right marketing mix. These are all worthy investments. But unless a fully automated marketing system is in place, many of these investments won’t pay off.

The high growth firms once again are ahead of the curve with a focus on creating high-quality content that helps bring organic visibility to their websites while also establishing them as a credible thought leader. Figure 4 showcases the top marketing priorities of high growth firms.

Figure 4: Top Marketing Priorities of High Growth Firms

The High Growth Study also asked participants to measure their overall marketing effort and impact from the marketing techniques they implement at their firm. When it comes specifically to marketing impact, once again we see some remarkable trends from government contracting high growth firms. Figure 5 shows the top 10 marketing techniques where high growth firms report seeing the most impact from their efforts.

Figure 5: Top 10 Most Impactful High Growth Marketing Techniques

Notice that half of these marketing techniques are digital in nature. Interestingly, no growth government contracting firms are overlooking five crucial marketing techniques that have great impact for high growth firms: public relations, email campaigns, case studies, publishing blog posts, and pursuing industry award opportunities.

This year’s High Growth Study probed further on the topic of SEO. We find that keyword research and SEO techniques are best used by consulting firms when they are set up as a tool to help prospective clients find their content. A mistake we encounter quite often is when firms describe SEO efforts as a one-time investment—a set it and forget it kind of model. Unfortunately, this does not yield great results. SEO requires ongoing focus to adjust to Google’s ever-changing algorithm.

And when it comes to the kind of content that high growth firms find has the most impact, original research takes the top spot. This aligns with the story that the Hinge Research Institute‘s data has been telling for years—in a world full of noise, original research is the most powerful mechanism for developing thought leadership content.

Key Advantage 4: Strategy

The final advantage enjoyed by high growth firms is in the realm of strategy—what high growth government contracting firms are focused on next. In Figure 6 we show the top five topics and trends that high growth firms are thinking about.

Figure 6: What are High Growth Firms Focused on Next?

High growth firms are particularly interested in disruptive digital technologies: AI, workflow & process automation, big data & analytics, strategy, and cybersecurity. The biggest difference in focus between high growth and no growth firms relates to cybersecurity. The interest in this topic reflects the need for better data security and IT system access as more government contracting employees work from home. It could also relate to the stricter data compliance requirements that apply to government contractors, which were heightened due to the security risks of a work-from-home reality during COVID-19.

Putting the Data to Work

Over the past two years, uncertainty and rapid change have become a new kind of normal. To thrive in the midst of so much change, high growth government contracting firms have learned to focus on the right priorities, acquire the right skills, and seek the right guidance when the way forward isn’t clear. By replicating these strategies in 2022 and beyond, government contracting firms can expect to find endless opportunities–even in the midst of uncertainty.

As we’ve learned from conducting this study for seven consecutive years, the marketplace moves fast. So keeping up with the best marketing and business development practices has never been more important. You can use this data to help your firm navigate the choices ahead. And if you need some support, be sure to reach out to us here at Hinge.

The post High Growth Study 2022 – Marketing Best Practices for Government Contracting Firms appeared first on Hinge Marketing.

A global pandemic put much of the world on pause, a contentious U.S. election heightened marketplace uncertainty, and movements calling for social change dominated the attention of the media and the world. As a result of all this turbulence, most Government Contracting (GovCon) firms took a financial hit to their business (53%). Despite the mayhem, a surprising number of firms were able to persevere and grow, some substantially.

Among these survivors were a group of High Growth GovCon firms—firms who maintained a compound annual growth rate of 20% or greater over a three-year assessment period. Somehow, in the midst of a tumultuous year like no other, nearly 38% of GovCon firms attained High Growth status in 2020. What are they doing differently?

The Hinge Research Institute’s newly published 2021 High Growth Study: Government Contracting Edition studies the marketing and business practices of these High Growth GovCon firms and provides expert analysis on what they are doing and how their practices have adapted to marketplace changes. In this article, we’ll share a few highlights from the full research study.

About the Study

The 2021 High Growth Study showcases industry trends within the larger context of other professional service industries including: Accounting & Financial Services; Architecture, Engineering & Construction; Consulting; Software & Technology; and Law Firms & Legal Services. In the GovCon industry breakout report, 85 government contractors with a combined revenue of over $90 billion and more than 150 thousand employees are analyzed. As shown in Figure 1, these firms represent industries across the professional services.

Figure 1: Government Contracting Industry Breakdown

Purchase the 2021 High Growth Study: Government Contracting Edition

Government contractors of all sizes were represented in the study with most of the representation coming from the small and mid-size firms (See Figure 2).

Figure 2: Government Contractor Firm Size Based on 2020 Revenue

The Top Challenges Facing Government Contractors

In the midst of a pandemic, when asked to identify their top upcoming challenges, most industries in the larger High Growth study departed from their historical concerns and pivoted to the crisis at their doorstep. GovCon was different. We see more continuity in their answers from 2019 to 2020. 

As shown in Figure 3, a shortage of top talent continues to be a leading business challenge for GovCon firms—one potentially exacerbated by heightened concern over compensation costs and a strong demand for specialized skills by governments at the federal, state, and local levels. Other workforce-related challenges like generational changes and managing remote employees also crept into the top business challenges.

Figure 3: Anticipated Business Challenges Over the Next 3-5 Years

Insights From the High Growth Firms

Insight 1: Research Isn’t Just “Nice to Have” Anymore

Across the spectrum of professional services industries, High Growth firms are more likely to do research on their target audiences—and this trend has continued for many years now. In Figure 4, we see that in 2020 there was a remarkable 40% increase in the number of GovCon firms using research to understand their target audiences.

Figure 4: Research on Target Clients

With nearly half of all government contractors conducting research on their target audiences, it’s important to recognize that this trend is here to stay. And for good reason. Research helps firms reduce risk and better understand their multiple audiences, giving these firms an advantage over competitors who have yet to embrace audience research.

Insight 2: High Growth GovCon Firms See Impact on Digital Marketing Channels

In Figure 5, we see how High Growth GovCon firms also see more marketing impact from their digital marketing techniques—with a massive advantage over their No Growth peers in search engine optimization (SEO) and client nurturing techniques. 

Purchase the 2021 High Growth Study: Government Contracting Edition

Even nurturing prospects through phone calls, which we consider to be a more traditional marketing approach, today requires some level of marketing automation and online lead generation strategy. High Growth firms are putting a holistic marketing system together—one that emphasizes digital visibility and nurtures prospects through towards the sale.

The rapidly changing marketplace has forever changed marketing and the High Growth firms are reaping rewards from their digital marketing investment.

Figure 5: Most Impactful High Growth Marketing Techniques for Government Contractors

Insight 3: High Growth GovCon Firms Generate More Leads from Digital Sources

Does digital marketing really work? Figure 6 shows that High Growth firms get almost half of their leads from digital sources.

Figure 6: Proportion of Leads from Digital Sources for Government Contractors

In 2020, Government Contractors took a huge step forward in digital lead generation. In our 2019 study of GovCon firms, High Growth firms reported that 30% of their leads were generated through digital channels. By 2020, it had surged a staggering 61%!

Now is the time for GovCon firms to press the accelerator on their digital marketing and to make sure they have the infrastructure to do so. Does your website meet the standards of today’s marketplace? Are your CRM and marketing automation tools working for your whole team? Are your firm’s thought leaders and experts increasing their online visibility? As the marketplace continues to move online, it is of utmost importance that firms take these questions seriously.

Insight 4: High Growth Government Contracting Firms are More Likely to Downsize Their Office Space

Another major difference between High Growth firms and their No Growth peers was their perspective on the future of office space. When asked what impact the COVID-19 would have on the future of their firm’s office space, High Growth firms were far more likely to consider downsizing while No Growth firms were more likely to keep everything the same as before (see Figure 7).

Figure 7: How Government Contractors Will Adapt Their Office Space

Some government contractors working on sensitive projects that require security clearances, while many have to work on-site for other reasons. Their situations are unlikely to change much in the near future. But at the end of the pandemic, many traditional office employees are going to want part-time and full-time remote working options. Firms that offer flexible work arrangements are likely to have a competitive advantage on the recruiting and employee retention front.

Insight 5: Successful Mergers and Acquisitions Is a Path Many High Growth Firms Follow

About the same proportion of High Growth firms as No Growth firms engage in M&A activity (roughly 60%). But when you look at the segment of firms that attributes more than 50% of their revenue to M&A, High Growth firms were 260% more likely to fall into this category (see Figure 8).

Figure 8: Government Contractors and Mergers & Acquisitions

M&A activity alone doesn’t guarantee growth. There are a number of financial and branding related risks that come with mergers and acquisitions. GovCon firms engaging in M&A need to do their due diligence and carefully assess the potential downside of each opportunity.

Purchase the 2021 High Growth Study: Government Contracting Edition

Final Thoughts

Times are changing. High Growth firms are showing the GovCon industry the way forward to growth and prosperity. They conduct research to reduce their risk and identify exactly how they can be more relevant to their clients and prospects. Rather than rely on marketing strategies and techniques that used to work, they are adopting the digital-marketing and lead-generation tools of the future. They are equipping themselves with the people and tools that will make the most of their increased marketing investments. And finally, they are embracing flexible work options to position themselves for growth.

The post How 38% of Government Contracting Firms Grew More than 20% in 2020 appeared first on Hinge Marketing.

Why This Study Is Needed

These are unprecedented times. Chaotic times. Strange times. But most of all, these are times of profound change. And this dizzying change is affecting everyone—you, your clients, and your prospects.

What was considered a normal and predictable government buyer’s journey at the beginning of 2020 no longer exists today. In-person conferences, tradeshows, and events have been shelved for virtual alternatives. Traditional methods of communicating with government buyers before decisions are made are rapidly moving online and going digital.

Government contractors need to understand how government buyers are behaving in these topsy-turvy times and how they should respond. Fortunately, Inside the Buyers Brain provides real insight into what your buyers think and where the trends are likely to take us in the future.

About the Study

The original study was published in 2013 and provided the first comprehensive look at the differing perspectives of buyers and sellers throughout the entire professional services buyers’ journey. 

A second version of the study was published in 2018. This study revealed a rapidly evolving landscape that presented new challenges and opportunities. 

The pace and scope of change was so profound that we decided to follow-up with the current study just two years later in 2020. This study also saw the addition of industry specific versions of the report, including this one.

The timing could not have been better. It allowed us to capture the first real indication of the emerging buyer concerns and preferences.

Purchase the Inside the Buyer’s Brain, Third Edition: Government Contracting Edition

Focused on Government Contracting

In the government contracting edition of the study, we explore the challenges government buyers are facing and what they expect from their service providers. We also explore the new client journey from the emergence of a business challenge to the final selection of the firm they ultimately choose to work with. 

We then look at the client experience and how it does or doesn’t translate into an ongoing relationship and referrals.

Sampled Both Buyers and Sellers

Using phone interviews and online surveys, we researched more than 180 government buyers and 580 government contractors (firms that do at least 25% of their work with local, state, or federal governments). Because the buyers bought services from the contractors, we were able to study both sides of the relationship.

What Are the Buyer’s Business Challenges?

Unlike other professional services industries, government contractors have a relatively solid understanding of their buyers’ challenges. But there are some important misses. For instance, they tend to underestimate the importance of meeting clients’ high expectations. The biggest disconnects, however, come at the bottom of the list, which are described in the full report.

How Do Clients Feel About Their Service Providers?

Government contractors are the only industry group in this research that has not become more relevant to their buyers’ important challenges since our last study in 2018.

Only 33% of buyers felt the services provided by their government contractors were highly relevant to their biggest challenges—the second lowest industry rating in the study. High-level relevance to the prospect’s key issues not only wins new clients, but it also helps you keep them.

High levels of relevance result in a 76.8% likelihood that the client will be highly loyal. That percentage drops to 45.7% when their contractor is perceived as low relevance. And over 80% of clients that view their firm as highly relevant are likely to recommend them to others.

How Do Buyers Search for Service Providers?

Government buyers are likely to turn to a colleague or conduct a general web search when they want to learn about a business-related topic. They also turn to social media more often than most other industries.

While word of mouth remains the top search method for gathering business-related information, its dominant position is slipping. Web searches (7.6) and social media (5.6) are becoming more and more prominent. 

Government buyers are more likely to do a web search than attend a conference or an event. This is significant as many firms center their entire marketing efforts around conferences.

Purchase the Inside the Buyer’s Brain, Third Edition: Government Contracting Edition  

How Do Buyers Evaluate Service Providers?

Government buyers want firms with talented staff, industry knowledge and, increasingly, responsive client service.

The more relevant skills, experience, and industry knowledge a government contractor’s team has, the more likely they are to win contracts. Client service is more important than ever. Nearly 40% of buyers factor in client service when choosing a contractor. This number has increased 170% since 2018. The demand for industry knowledge and ability to deliver results are also on the rise as top evaluation criteria for buyers (just above 30%). Relevant experience/past performance, while down slightly, is still the number two evaluation criteria for buyers.

What Does This Mean for Your Firm?

Government buyers are changing the ways they research, value, and select the government contractors they want to work with. Government contractors need to understand how buyers are evolving—and how their firm can adapt before the competition.

It’s time to get serious about digital. Consumers and clients have been migrating to digital communications channels for many years. Over the years, we have watched digital approaches overtake traditional marketing and delivery channels. And with today’s widespread remote-work reality, the time has come to act. Buyers are free to search for the specific expertise they need, independent of geographic location. Don’t get left behind waiting for things to “get back to normal.”

Focus on the relevance of your services. Making your expertise visible is important, but don’t forget to make it relevant to the buyer’s challenges as well. Don’t assume that your potential client understands what they need or how you can help them, even if it seems obvious to you.

Part of your job is connecting the dots between the buyer’s challenge and your solution. And don’t forget to reinforce that relevance on a regular basis. If not, you can easily get taken for granted over time.

Changes in buyer behavior are reducing the impact of traditional approaches. Buyers are changing their behavior at a fast clip. Many traditional business development strategies are less effective for government contractors. This includes promoting the firm at conferences and tradeshows. While government buyers still rely on referrals when searching for a contractor, they are doing more web searches than in the past and looking on social media. 

We’ve given you a glimpse inside the government buyer’s brain. The way government clients buy professional services is undergoing a transformation. And firms that are able to adapt to these changes will have a significant advantage in the evolving marketplace. Research like this can give you an edge.

Purchase the Inside the Buyer’s Brain, Third Edition: Government Contracting Edition 

The post The Buyer’s Journey Is Changing – How Can Government Contractors Adapt? appeared first on Hinge Marketing.

In the study, we define high-growth firms as those that reported 20% or more annual growth over a period of at least 3 consecutive years. The study explores what it takes to deliver this pace of growth organically, year after year.

For context, it helps to understand what high-growth firms perceive to be the top challenges they’ll face over the coming years—as the type of marketing they choose to prioritize is in direct response to these perceived threats. Below, in descending order, are the top 10 challenges high-growth firms believe they’ll be facing over the next 3-5 years.

1. Unpredictability in the marketplace
2. The need for new skills
3. Managing a remote workforce
4. A shortage of top talent
5. Increased competition from new firms/competitors
6. Increased competition from larger competitors
7. Automation/artificial intelligence
8. Changes in how buyers buy services
9. Increases in compensation costs
10. Generational changes in the workforce

When you look at this list, you’ll notice a level of anxiety (and planning) around multiple talent- and skills-acquisition issues, as well as challenges addressing competition, technology and evolving buyer behavior. 

Next we’ll take a look at the top 5 marketing priorities of high-growth B2G firms. As we walk through them, you’ll see a direct relationship to the perceived threats I listed above.

Top 5 Marketing Priorities of High-Growth B2G Firms

1. Content Creation: Not so long ago, simply having a content marketing strategy was enough to help firms stand out from the competition. But things change quickly online, and what used to be exceptional is now a non-negotiable. As more and more firms develop sophisticated content marketing strategies, the demand for high quality educational content has risen to a new level. How does marketing content help firms compete? With low barriers to entry, the services landscape has become commoditized, and expertise is what often tips the scale. High-quality thought leadership content that demonstrates that expertise is a meaningful way a firm can differentiate itself from a sea of otherwise similar competitors. Thought leadership also helps attract top talent—signaling you’re a true leader in your space and sending a message to potential candidates about your culture and how you develop your employees’ expertise.
2. Website performance: Creating content is one thing. But a central piece of any marketing system is the platform where that content resides: your website. Every government contracting firm understands that a website is a must-have, but not all B2G websites are created equal. Critical elements make a website an essential tool in your recruiting and business development toolbelt, and most B2G websites lack some or all of these elements. If your website doesn’t put educational content first—to attract new visitors and nurture them over time—it isn’t living up to its potential. 
3. Marketing technology & automation: With an increased focus on content creation and website performance, high-growth government contracting firms are busy making their content more visible and relevant to their audiences. They are also investing in marketing technology, which signals that B2G firms are implementing more sophisticated marketing programs, as well as tracking competitive intelligence on their audience and competitors. 
4. Publishing original research: If creating content is high-growth firms’ top priority, original research is a unique type of content that both delivers exceptional value and cannot be easily replicated. Original research gives high-growth government contractors a way to invest once and generate a flow of content that can last several months. Original research also positions high-growth firms to identify emerging trends and challenges that are affecting their customers—before the competition even sees them coming.
5. Choosing the right marketing mix: Reaching government services buyers with the right messages, through the right channels and at the right time is crucial to a firm’s success High-growth firms execute a careful balance of traditional and digital marketing techniques. Additionally, they understand that how buyers educate themselves and what interests them can change over time. Ongoing research can identify these changing preferences and inform where a firm should invest its marketing dollars. 

What does all of this mean? Government contractors that haven’t prioritized marketing the high-growth way in the past can learn from their high-performing peers. These leaders have done the due diligence for them, and any government contractor can simply adopt the tools and techniques that work and jettison those that don’t. B2G firms can also find comfort in knowing the type of marketing that attracts and wins new business is the same type of marketing that solves one of their perennial challenges—attracting and retaining top talent.

The post Prioritizing the High-Growth Way: 5 Marketing Strategies Government Contractors Should Focus on Now appeared first on Hinge Marketing.

Become seen as a credible player in the ever-changing landscape of selling to the federal government. Here are some SEO tips for the Government Contractor.

Transcription

Hi, I’m Liz Harr, and in today’s post, I’m going to be sharing some ideas around SEO for the government contractor. Now, why focus on government contractors? Well, traditionally this is a type of business model that hasn’t really had to focus too intently on marketing because they have the right contract vehicle or teaming agreement in place. Well, now they really need to think about how to become seen as a credible player in this ever changing landscape of selling to the federal government.

Now, SEO is a particular technique that transcends across lots of different other techniques and that’s why it deserves specific attention today. So the first thing to think about is where do you incorporate keywords and phrases, which is what SEO is really all about. And these are places like your website, each page of your website, the description on your website, the titles, the content on your website, the content…thought leadership type of content that you write. All of these pieces should certainly have well-researched keywords and phrases embedded in them. But here’s one that you might not think about. Think about your LinkedIn profile and go to the title of that. Most professionals don’t even think about optimizing the title of their LinkedIn profile and they simple say CEO of company XYZ. Think about creating a title that talks about your expertise and using a keyword that relates to your expertise. So the next time someone is looking for an expert in that field, your LinkedIn profile could potentially pop up.

Download the SEO Guide for Professional Services

So those are some of the common places where you would embed keywords and key phrases. Let’s talk about some of the criteria you need to think about as you’re researching keywords. There’s really four that I’d like to leave you with today. First and foremost, is your website’s domain authority. This is simply a ranking between zero and a hundred, where zero is the lowest. And it really is a barometer of how competitively you can rank for certain keywords.

Which gets me to the second criteria, what is the competitiveness of a particular keyword? It’s the same scale zero to a hundred, where zero is the lowest. And the idea is to try to think about your ability to use a particular keyword and rank for it with how competitive it is. You don’t always have to have a one to one match but you have to certainly factor that in.

A third criteria is the volume. How often and how much are people using this keyword as a search on a monthly basis. Finally and often overlooked, is what I call user intent. What is the person who uses a particular keyword hoping to find? Make sure that you think about that as you are implementing keywords particularly, on your webpages and your thought leadership.

So I hope this leaves you with some pointers on how to incorporate SEO as you get your firm to that next level and become more visible.

The post SEO and the Government Contractor [VIDEO] appeared first on Hinge Marketing.

To cultivate successful referrals that result in new business, make sure your website achieves these three things.

Video Transcription

Referral business, we all know how important that is in terms of driving growth in professional services. But one of two things usually happens, either we get the wrong referrals or we hear from our clients and referral sources that they are referring us, but we’re not getting any phone calls.

Well, our research shows that almost 50% of referrals who are referred to us never get our way because of one reason, they can’t understand what it is that we do and how we can help them. Where are they getting this information? Well, 8 out of 10 times, the very first place people who get referred to us learn about us, aside from the person who referred, is our website. 80% of professional services buyers check out our website first.

So in terms of getting referrals, the right referrals and getting them to call, your website needs to achieve three things. It needs to clearly articulate what you do, who you do it for, and why clients should choose you. Now this isn’t just about marketing copy. Marketing copy can say that, but what about proving it? That’s where educational content comes in. So I encourage you to think about when you’re using a referral strategy, think about how important your website is and how important educational content is to proving people should select you.

Now, educational content is not things like white papers that aren’t truly informative or syndicated content. It’s also not the marketing copy that I talked about, and you might be surprised that it’s not even in case stories or testimonials. All case stories do is while they’re interesting, they talk about what you did for a specified set of circumstances. So consider how important educational content is in terms of explaining the who you are, what you do, and why clients should choose you.

And finally, make sure that content is optimized. If it isn’t properly optimized, people won’t be able to find you in the first place when they’re looking for a firm who solves the problems that they have.

So if your referral strategy needs some adjusting, I encourage you to check out our course on Referral Marketing. Just go to hingeuniversity.com and click on the Referral Marketing course. Hope to see you there.

The post Are You Getting The Wrong Referrals? [VIDEO] appeared first on Hinge Marketing.

Each year, as part of our annual High Growth Study, Hinge surveys firms that derive the majority of their revenue from government business. This past year, we surveyed 91 firms in the government contracting industry. These firms earned $76 billion in revenue and had over 300,000 full time employees. Government contractors also were the fastest growing industry segment in this year’s study, growing at a median rate of 13.4% — that’s over twice the rate of the slowest growing industry, accounting and financial services!

Download the 2018 High Growth Study, Government Contractor Edition Executive Summary

When we asked the high-growth cohort of government contractors to identify their top marketing priorities, digital tools dominated their responses. And guess what topped the list? That’s right, upgrading their website.

In the figure below, you can see the top marketing priorities for these fast-growing firms compared to no-growth firms.

What do these priorities have in common? They all help firms increase their online visibility and support business development efforts. Below are three things high-growth firms know about the benefits of an updated website:

1. It increases the likelihood of receiving an RFP

Relying on the same clients to send you RFPs is not a recipe for business growth. To grow your firm, you need to reach new audiences and expand your network. Twenty years ago, this was done by attending networking events. In 2018, it’s often achieved through content marketing.

Today, a website serves as the hub of a firm’s marketing activities. It is used to determine the content and design direction of all your marketing materials. Developing targeted, quality content and disseminating that through your website, social media, industry publications and your employees’ networks is how firms increase their visibility in 2018 and beyond.

2. It supports the buy decision after you’ve responded to an RFP

A modern, well-written and well-designed website gives both long-term clients and new prospects a reason to short-list your firm. It also gives your firm an opportunity to outshine your competition.

Take a look at your competitors’ websites. What are they telling prospective clients? If you were a prospective client, how would your website and the way it portrays your firm stack up against the competition? Here are three factors you can use to evaluate your site:

• Messaging: Your website should speak to your prospects’ needs. Do you provide specific and straightforward (i.e., minimal jargon) information about your firm’s capabilities and experience? Is it clear why a company should hire your firm?
• Design: If a prospect goes to your website and cannot find what he is looking for or sees a site that looks like it was designed 15 years ago, what will he think about the work you will do for him? Does your site have easy-to-use navigation, compelling (not clichéd) images and a consistent style throughout?
• Content: Many modern websites have robust “resources” sections. This content is built around a unified content strategy and includes regularly published blogs, guides and other educational materials. Does your site have a cohesive and consistent content strategy that demonstrates your thought leadership and builds trust with prospects who are new to your firm? Does it position you well against industry leaders?

Download the 2018 High Growth Study, Government Contractor Edition Executive Summary

3. It can attract top talent to your company

We are all familiar with the “talent war” that is raging in professional services today. Hinge’s 2017 Employer Brand Study found that 62.7% of job seekers look at firm websites when searching for new career opportunities. Does your website’s careers page speak to job seekers and demonstrate why they should want to work at your firm? What opportunities are there for career advancement and training? Does it convey your firm culture?

Is your website giving you a leg up? Or is it slowing your down?

Additional Resources:

• Download the free Executive Summary of the 2018 High Growth Study: Government Contractor Editionand learn what propels high-growth firms into the stratosphere.
• Check out our Lead Generating Website Guide, which details how your firm can generate qualified leads with its website.
• Learn how to uncover your firm’s true differentiators with Hinge University‘s Differentiation, Positioning & Messaging

How Hinge Can Help:

Let Hinge help you create and implement a research-based strategy to increase your firm’s visibility and growth. Hinge’s Visible Firm^® Program is the leading marketing program for professional services firms that want to market themselves like industry leaders. Ask about it today!

The post 3 Reasons Why Your RFP-Driven Firm Needs a New Website appeared first on Hinge Marketing.

In our all professional services report, we discovered firms that derive a majority of their business from government contracts grew faster than all others in the study. To understand why, we decided to take a closer look.

The 2018 High Growth Study: Government Contractor Edition focuses on a segment of 91 government contractors, with services that span across architecture, construction, consulting, engineering and technology industries. Together, these firms generated more than $76 billion in annual revenue and employed more than 300,000 people. They ranged in size from micro firms with less than $1 million in annual revenue to large firms generating $50 million or more each year.

Download the 2018 High Growth Study, Government Contractor Edition Executive Summary

Through a comprehensive survey, CEOs, presidents and other top executives at these firms revealed how they view the future of their industries, the strategies they will use as they continue to address threats to their business and which marketing tactics are producing the best results. The study also details why some government contractors grow at much higher rates and what they are doing to fuel that growth.

Exceptional Industry Growth

Government contractors have experienced increasingly rapid growth between 2015 – 2017. These organizations reported median annual growth of 13.3% in 2017, up more than 50% over the previous year. By contrast, firms that did not conduct business through government contracts experienced declining median annual growth rates from 11.3% in 2016 to 9.1% in 2017 – a 19% decrease.

High-Growth Government Contractors Grew 4X Faster than Average

Our study uncovered a group of government contractors that experienced compound annual growth of at least 20% for three consecutive years. We call these the “High-Growth” firms. Roughly 4 in 10 (39.5%) government contractors fell into this category.

In fact, among this High-Growth cohort, the median annual growth rate was more than 42%—almost four times that of the average government contractor. In many industries, smaller firms represent the majority of firms in the high-growth category, but government contractors buck that trend. Only a third of the firms considered high-growth are small or micro firms. The remaining 70% are mid-sized and large.

The High-Growth Perspective

The mission of the 2018 High Growth Study was to understand what rapidly growing firms are doing differently than firms that are not growing at all – what we call “no-growth” firms. We first noticed a difference in how High-Growth firms see the future. They were 5X more likely to view managing a remote workforce as a threat, and 2X more likely to call out generational changes in the workforce. They were also more likely to name automation and increased regulation as threats.

On the other hand, no-growth government contractors were more likely to view increased competition, downward price pressure and commodiziation of services as the top threats to their industry.

We found differences in the strategies used to address these threats, too. For example, high-growth firms were almost twice as likely as their no-growth peers to conduct frequent research on their target markets. They were also more likely to prioritize their visibility in the marketplace, enter new markets, and “productize” their services.

Download the 2018 High Growth Study, Government Contractor Edition Executive Summary

High growth firms were also more likely to specialize around the technology they use and enjoy a skills advantage in five of the seven key business development areas monitored in the study.

High-Growth Marketing

We found that high-growth government contractors go to market differently, focusing their priorities on understanding their target audience, and then targeting them through digital channels. They are nearly 3X more likely to upgrade their websites, 2X more likely to build a content marketing calendar, and 30% more likely to prioritize identifying and creating buyer personas. They are also more likely to focus on social media marketing and embrace marketing automation.

By studying how high-growth government contractors perceive the marketplace and how they go to market—using data, not anecdotes—your firm can create more effective marketing, sales and revenue strategies. Hinge makes an executive summary of the the 2018 government contractor research available at no cost. Download it today. 

Additional Resources:

• Download the Executive Summary of the 2018 High Growth Study, Government Contractor Edition and learn what propels high-growth firms into the stratosphere.
• Learn how to uncover your firm’s true differentiators with Hinge University‘s Differentiation, Positioning & Messaging course.

How Hinge Can Help:

Let Hinge help you create and implement a research-based strategy to increase your organization’s visibility and growth. Hinge’s Visible Firm^® Program is the leading marketing program for professional services firms that want to market themselves like industry leaders. Ask about it today!

The post 2018 Government Contractor Research Released appeared first on Hinge Marketing.