Futureproofing Your Professional Service Firm: 5 Essential Strategies

*This is part of an industry-specific series I am writing. While this is about Professional Services, the lessons can apply almost universally to any complex industry with discerning customers. You can see earlier pieces where I tackle Financial Services and Healthcare. 

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At Zen Media, the majority of our clients can be categorized as selling some type of trusted advisory services - from law firms to IT digital transformation companies. Most of them are companies who have built their brands over time and via referrals.

They are intelligent, have high standards, and really care about the success of their teams. What they also see is that the tide is turning. They are thinking about how to compete with AI, manage (and more importantly motivate) different generations in the workplace, and predict where the puck is going so they can get ahead of it.

In support of that goal, here are 5 rules for forward-thinking service firms who want to stay relevant in Age of AI

1. Cater to Changing Workplace Demographics 

2024 was a turning point. There are more Gen Zs working full-time than Baby Boomers. While millennials still makeup the biggest part of the workforce now, think about what an inflection point that alone is. For professional service firms, the impact happens at two levels: client side and employee side.

On the client side, WHO you sell to is bound to change and how you sell to them must follow. For instance, an accounting firm that traditionally focused on serving established businesses may need to adapt its services to cater to the unique needs of Gen Z entrepreneurs, who may prioritize digital platforms, real-time data, and socially responsible practices.

On the employee side, Gen Z has distinct expectations from their workplace. To attract and retain Gen Z talent, firms must create an environment that aligns with their values and preferences. One way a consulting firm can address these needs is by implementing a mentorship program specifically designed for Gen Z employees, with a unique focus on reverse mentoring.

In this program, experienced consultants are paired with Gen Z mentees, fostering a two-way exchange of knowledge. While senior consultants provide guidance on industry expertise and professional development, Gen Z employees share their insights on technology, social media, and emerging trends. This reverse mentoring aspect promotes mutual learning and understanding, demonstrating the firm's commitment to valuing the unique perspectives and skills that Gen Z brings to the table.

By incorporating reverse mentoring into the program, consulting firms can create a workplace environment that not only appeals to Gen Z but also leverages their strengths to drive innovation and adaptability within the organization. This tailored approach to mentorship can lead to higher engagement, retention, and overall success in attracting top Gen Z talent.

2. Compete WITH AI- not against it. 

AI unlocks great opportunities because you can have augmented workflows AND clients will come to expect the integration - just like we expect brands to have a website, a social presence, etc. 

AND, clients will expect faster and higher level work. Insytz is a great example here because it's allowing wealth advisors to do exactly that. It's challenging them to raise the bar WITH technology because clients are no longer satisfied with "it's just the market" as an answer. They are demanding more. Make no mistake, client demands WILL go up across industries. 

However, as AI becomes more prevalent, the human aspects of business – empathy, authenticity, and experience – will become more critical than ever. The key is to strike a balance between leveraging AI's capabilities and maintaining the human touch that builds trust and lasting relationships.

The best way to think about AI is as an interface and a cognitive partner. It will be the lens with which we inquire and engage with the world. Our current work routines, once seemingly cutting-edge, will soon appear as quaint as carbon paper copies, fading into the sepia tones of technological obsolescence.

3. Embrace Dark Social 

The social media that existed when I first joined Twitter (with less than two thousand users) and when I wrote the first book on the topic, is dead. Social and media have split. We may consume "media" publicly but we are "social" in private. 

This has massive ramifications for all your marketing and customer engagement strategies. It means that public engagement of your content is no longer a reliable metric of effectiveness.

Welcome to the dark social era. 

If you can't rely on your audience liking and commenting on your content publicly, how do you know what's resonating with and influencing them? The number#1 most used app on ANY person's phone today is…a messenger app. It doesn't matter if it's WhatsApp or iMessage or Slack or IG DMs.

So, what should you focus on instead? Consumption. Because, consumption drives conversions. Consumption IS engagement.

Bain did a study where they found that buyers make a list of vendors for consideration before starting the search process. Fully 80%–90% of respondents, depending on what they are buying, have a set of vendors in mind before they do any research. Just as important, 90% of them will ultimately choose a vendor from the day one list.

The old advice was to be on the day 1 list, but the new advice is to be on the day ZERO list.

Except, tell me when most people THINK marketing begins…after intent is shown. 90% of marketing dollars are spent on who is in the market to buy NOW. But, we already know that 95% of your target market isn't in the market to buy now, no matter what you do. Only 5% is. (That's the 95-5 rule)

This means you have to get in front of the 95% before they get to DAY 1. You have to market at day zero, when they aren't thinking about your service or product at all. B2C already does this well. B2B needs to catch up. 

4. Build Your Thought Leadership with Earned Media

Experience, Expertise, Authority, Trust. What do all 4 of these have in common? They are literally the outcomes of earned media. When your company lands in Inc, Forbes, Newsweek, or even industry publications like American Banker, MarTech, or HRCube, you increase your EEAT score. It doesn't matter if these third-party websites link back to you or not. Google has long made it clear that they pick up on these signals.

E-E-A-T is an essential factor in Google's algorithm and is used to measure the quality of a website or page and determine whether users should trust it. 

According to Google’s research, 88% of B2B buyers engage in ZMOT (zero moment of truth), consulting an average of 10.4 sources before they ever engage with sales. Moreover, Google introduced the 7-11-4 rule to go from prospect to buyer: 7 hours of interaction, 11 touch points, and 4 separate locations. This was in 2011.

Today, it takes 27 to 31 touch points (based on research from Gartner and Forrester). This went up during the pandemic when prospects became even more digitally savvy. Locations have increased from simply search engines to include ChatGPT and platforms like Pinterest and TikTok, yes, even for B2B. That's not even touching on dark social.

94% of prospective buyers are fully or somewhat informed before contacting a vendor representative, 84% want relevant content at each stage without relying on calls with sales, and meeting with reps makes up only 17% of today's buying process. That number drops to only 5% - 6% if they are looking at competitors.

(If you'd like to learn more about earned media, I highly recommend the 5 Day MBA on Modern PR. It's a free eCourse.)

5) Cultivate a Culture of Urgency Over Speed

Speed is about how quickly you complete tasks. It's the raw horsepower that gets things moving. Urgency, however, is about acting with intention and focus when it truly matters. It's the strategic use of speed, ensuring your actions are aligned with your goals. Think of it like the difference between accelerating through a green light and slamming on the brakes to avoid a red one.

Obsessive speed can lead to serious problems. Rushed decisions are often bad decisions, leading to wasted resources and missed opportunities - opportunities that your competitors noticed and now get to enjoy Sacrificing quality in the name of speed can damage your reputation and repel customers.  Furthermore, a constant pressure cooker environment can burn out employees, leading to decreased productivity and high turnover, which means less ROI for your marketing and sales efforts.

A sense of urgency fosters a culture of strategic action. It keeps your team focused on the most important tasks and drives them to act decisively when opportunities arise. This doesn't mean reckless abandon; it means understanding the "why" behind the "when." Teams operating with urgency are:

• Agile and adaptable: They can quickly respond to changes in the market or challenges that arise.

• Innovative: They are constantly seeking new and better ways to do things, even within time constraints.

• Highly engaged: They understand the importance of their work and are motivated to contribute to the team's success.

The professional services landscape is undergoing a profound transformation, driven by shifting demographics, rapid technological advancements, and evolving client expectations. While these changes may present challenges, they also offer unprecedented opportunities for growth, innovation, and impact.

By exploring the five critical areas discussed in this article, professional service firms can position themselves to remain relevant, influential, and optimized for both revenue and client success in the years to come.

Shama Hyder is the Founder & CEO of Zen Media, an international keynote speaker, and a bestselling author. 

Fast Company calls her a "millennial master of the universe" and a "zen master of marketing." 

She's a Forbes and Inc. 30 under 30 alum, and LinkedIn has named her a Top Voice in Marketing four years in a row. 

To hire Shama to speak at your next event, check availability here.