Picture this: there’s a manufacturing company that’s been struggling to increase profits, despite trying every trick in the book. They’ve cut costs, invested in new equipment, and even tried some feng shui to improve their luck, but nothing seems to work.
Who do they turn to?
That’s right – a consultant.
The consultant takes a deep dive into the company’s operations, analyzing everything from the supply chain to the coffee machine in the break room. After some serious detective work, they identify several key areas where the company can improve efficiency and reduce waste. The company puts the consultant’s recommendations into action, and lo and behold, their profits start to climb.
This is just one example of how consultants and consultancy firms can drive growth for businesses by helping them solve complex problems or innovate in a crowded market. But despite their superpowers, consultants often get a bad rap in the business world as overpriced know-it-alls or opportunists looking to make a quick buck. Think back to the old, unsavory joke about seagulls.
Why is this the case?
Part of the problem is that many consultants are reluctant to market themselves and their services. After all, their expertise lies in problem-solving, not self-promotion. They might feel that marketing is a distraction from their core work, or that it’s not worth the time or resources. “We’re doing more or less no marketing at the moment. We’re just networking. Most of our clients are people I already know.” What’s worse is that this belief can get reinforced if they do set out to market themselves but lack focus and direction or implement ineffective strategies. This lack of planning can lead to a scattergun approach to marketing, where consultants try a bit of everything without a clear sense of what’s working and what’s not. “We don’t know the specific marketing tools that are running today or which are possible for us. I will need help knowing how to leverage marketing tech to build a brand around myself.”
The truth is, marketing a consulting business is a different ballgame than marketing other types of businesses. Consultants offer intangible services that can be difficult to explain and quantify. What does this mean? That some of the more obvious and mainstream marketing strategies might be completely useless for consultancies. Consider advertising, for instance, specifically interruptive advertising – often the cornerstone of marketing plans. For consultancies, this is a bad fit because this type of advertising is designed to disrupt a viewer’s experience to grab attention and promote a product or service, but it can be difficult to communicate the value of consulting services in that brief a message. Consulting clients often require a more nuanced understanding of a consultancy’s capabilities and approach before making a purchasing decision, and interruptive advertising may not provide enough detail to make this happen. In fact, such aggressive hard-sell methods are rather counterproductive and can potentially damage the credibility of the business.
So let’s get down to brass tacks.
What does it take to market a consulting firm successfully?
In this blog, we take a look at some marketing strategies that are especially effective for consultancies.
“Your expertise will sit alone, shipwrecked and starving on a distant desert island, unless you stand up and start calling attention to the work you do and the problems you are committed to solve.” — Tom McMakin, Why Clients Buy.
Establish a Brand-Driven Image
Consulting firms need a strong and memorable brand identity that reflects their unique value proposition. A strong brand sets you apart from the competition, makes it easier for potential clients to remember you, and plays a crucial role in shaping and directing all activities carried out by the team. The three key components in building a brand are:
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- Understanding Your Unique Value Proposition: Before you can establish your brand, you need to have a clear understanding of what sets your consulting firm apart from the competition. What unique skills and expertise do you bring to the table? What problems do you solve better than anyone else? Understanding your unique value proposition is essential for creating a brand identity that accurately reflects your strengths and expertise.
- Creating a Memorable Brand Identity: Once you have a clear understanding of your unique value proposition, it’s time to create a memorable brand identity. This includes choosing a name, creating a logo, and developing a consistent visual style for all of your marketing materials. Your brand identity should be professional, memorable, and reflective of your unique value proposition.
- Building a Professional Website: In today’s digital age, a professional website is essential for any consulting firm. Your website is often the first impression potential clients will have of your business, so it’s important that it is well-designed and reflects your brand identity. Your website should clearly communicate your services and expertise, provide helpful resources for potential clients, and be easy to navigate.
When your consulting firm has a well-developed and strong brand built with the target audience in mind, your services will “immediately shine compared to the competition during the Awareness and Consideration stage of the customer journey.”
Position Yourself as a Thought Leader
In the consulting world, being recognized as a thought leader can be a game-changer. By establishing yourself as an authority in your field, you can build trust and credibility with potential clients, which can ultimately lead to more business. But what exactly is thought leadership, and how can you achieve it? At its core, thought leadership involves creating high-quality content that demonstrates your expertise and provides value to your target audience. This content is usually presented in longer formats such as blog posts, whitepapers, and case studies. Dynamic formats such as webinars and podcasts are also gaining popularity. It is also important to leverage social media platforms like LinkedIn and Twitter, which provide a powerful way to connect with potential clients and share your content with a wider audience.
One of the most significant benefits of thought leadership is that it allows you to connect with potential clients in a “non-salesy” way. By providing valuable insights and advice, you can establish yourself as a trusted advisor rather than just another business trying to sell something. To become a thought leader in your industry, start by identifying the topics that matter most to your target audience.
- What are their main requirements and pain points?
- What are the current demand–supply gaps?
- What are the biggest challenges they face?
- How can you help them solve those challenges?
By creating content that speaks directly to your audience’s needs and interests, you can position yourself as an invaluable resource. When creating thought leadership content, it’s crucial to focus on quality over quantity. Rather than churning out lots of low-quality content, take the time to create in-depth, well-researched pieces that demonstrate your expertise. According to Gartner, to improve demand generation from thought leadership efforts, marketers should:
- Establish a TLM program that aligns with their wider go-to-market strategy and product strategy to generate awareness, build credibility and engage buyers.
- Demonstrate how they are leading in a given field of thought or endeavor by working backward from what is critical to their customers’ success to build a TLM program.
- Identify internal leaders across functions to sponsor the TLM program and develop a unique point of view (POV) and outsource tactical execution.
Implement an ROI Calculator
Interactive content is becoming an increasingly popular marketing strategy. Interactive ROI calculators, in particular, can be highly valuable for consulting firms. They can assist customers in making informed decisions about their purchases, making them more comfortable. Additionally, they can help potential customers calculate the amount of time, money, or work required to achieve a specific result and showcase why your services will be worthwhile.
A basic approach to designing and implementing an ROI calculator for your consultancy would involve:
- Identifying user pain-points or needs: Consider what challenges or questions your users may have that an Interactive Calculator could help solve.
- Defining the formula: Determine the math or logic behind your calculator, whether it’s a simple formula or a more complex, personalized one.
- Choosing a brand-appropriate template and design for the calculator: Find an Interactive Content platform with customizable templates and use their editing tools to personalize the calculator to fit your brand.
- Promote the calculator: Share the calculator on your website and social media channels to reach potential users and promote engagement.
As a marketing tool, the interactive ROI calculator can be combined with a lead form aimed at converting more visitors into leads. By gating the outcome of the calculator with a lead form, more leads can be generated, as customers are more likely to provide personal details in exchange for valuable and specific information. Moreover, the data gathered from potential customers, when they use the calculator, can help in creating more personalized marketing strategies, such as targeted emails.
Leverage Digital Platforms to Build Networks
Consulting is a relationship-based business. Therefore, networking and relationship building should be an integral part of any marketing strategy for consulting firms. Here are some strategies for building and nurturing relationships with potential and existing clients:
- Attend industry events and conferences: Industry events and conferences provide a great opportunity to meet potential clients, as well as other consultants who can refer business to you. Take the time to research relevant events and conferences and make sure you attend with a plan. Prepare your elevator pitch, bring business cards, and make an effort to meet and connect with as many people as possible.
- Leverage LinkedIn: LinkedIn is the go-to platform for professional networking, making it an essential tool for consultants. Make sure your LinkedIn profile is up to date, and use the platform to connect with other professionals in your industry. Share high-quality content that showcases your expertise and start conversations with potential clients.
- Provide value to your network: Networking is not just about taking; it’s also about giving. Look for opportunities to provide value to your network, whether that’s through sharing relevant articles or making introductions to other professionals. By providing value to your network, you’ll build trust and establish yourself as a go-to resource.
- Nurture existing client relationships: Stay in touch with clients even when you’re not actively working with them. Keep them updated on industry trends and developments that may affect their business, look for opportunities to add value to their operations, and leverage referral marketing strategies to generate new leads through them. According to Harvard Business Review, new clients that come from referrals “advance through the sales process faster, have more forgiving negotiations and healthier margins, and tend towards greater loyalty” – since it allows you to begin with the “credibility of a trusted peer”.
The Bottom Line
Effective marketing strategies are essential for consulting firms to stand out in a highly competitive industry. By understanding the unique challenges of marketing intangible services to a highly specialized target audience and implementing the right tactics, consulting firms can build a strong brand, establish thought leadership, and win new business.
It’s important to keep in mind that marketing efforts should be ongoing and constantly evolving. Continuously monitoring and measuring the effectiveness of your marketing campaigns will help you fine-tune your approach and ensure that you’re getting the most out of your marketing efforts. With the right marketing strategy in place, consulting firms can establish themselves as industry leaders and win new business, while continuing to deliver the high-quality services that their clients rely on.
For independent consultants and new consultancy firms, building an effective marketing strategy can seem like a daunting task. Collaborating with a seasoned marketing agency can help ease the process of developing and executing a highly tailored marketing plan. At Heltr Skeltr, we work closely with our clients to understand their unique needs and challenges, and develop customized marketing strategies that help them stand out from the crowd. Whether you’re a small boutique firm starting from scratch or a global consultancy looking to foray into new territory, our marketing experts can help you navigate the challenges of today’s competitive landscape.