High Growth Study Results—First Quarter 2019
2019 Hinge High Growth Study Results Available
Senior Marketing & Communications Manager
NACVA is pleased to be a sponsor of the Hinge Research Institute’s annual High Growth Study. The 2019 High Growth Study: All Professional Services Edition Executive Summary is now available. It is no secret that the professional services marketplace is undergoing significant change. What does it take to grow in such an environment? Hinge’s ongoing High Growth Study aims to answer that question by identifying the strategies and tactics favored by high-growth firms compared to their slower-growing peers. One thousand firms participated in the study, representing over one trillion dollars in combined revenues and over 17 million full-time employees. Combined, they represent over $120 million in marketing budgets.
Here are a few highlights from the High Growth Study:
A Marketplace in Transition
- The future of professional services is likely to be highly competitive with many changes in technology and buyer behavior
- The average professional services firm studied grew by 11.1% in 2018—a 22% increase over the previous year
- Government contracting presents growth opportunity...for now
Meet the High-Growth Firms
- High-growth firms achieved at least 20% compound annual growth
- High-growth firms grew nearly 5X faster than average
- High-growth firms and no-growth firms are very similar in size
Five Hallmarks of High-Growth Firms
- Differentiation is the top marketing priority of high-growth firms
- High-growth firms invest more in marketing
- High-growth firms enjoy a skills advantage with their subject matter experts
- High-growth firms were more likely to leverage M&A
- High-growth firms target clients on both digital and traditional channels
A full report, with industry-specific data, is available for free by starting a free trial of Hinge University. No credit card required!
This study was conducted by the Hinge Research Institute, an organization that partners with leading organizations and trade associations to publish original research and books on the professional services industry. NACVA partners with Hinge to offer a variety of marketing services to increase referrals, build visibility, and grow your practice.