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Drive Your Firm’s Growth With Market Research

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Today, many factors affect the growth and profitability of accounting firms. This leads us to the question: Can targeted market research play a significant role in your firm's performance? The short answer is: yes. Lee Frederiksen explains how knowledge will result in faster growth.

May 27th 2022
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How well do you know your clients? You might be surprised by the answer.

In almost every piece of market research we do, we uncover situations where professional service providers misjudged or misread their clients. But even we were surprised at the impact of market research on a firm’s bottom line.

Hinge Research Institute’s ongoing study of professional services firms found a clear and dramatic correlation between systemic research and firm growth and profitability. Professional service firms that conduct systematic research on current and prospective clients grow from 3 to 10 times faster and are up to 2 times more profitable.

The accounting industry is no exception. When CPA firms better understand their target audience and current clients, they can anticipate emerging needs and develop relevant, high-margin services.

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