Many consultants chose to go into business for themselves and open consulting firms. Depending on the particular consultant's expertise and background, the firm's service offerings vary drastically. However, a consultant's knowledge and experience are not synonymous with marketing savvy. Here are vital considerations for contemporary consulting firms seeking a strategic marketing approach for business development efforts.
● Align Marketing Toward the Organizational Strategy. Regardless of the firm's size, leaders must align the marketing program to fit the organizational design and strategy of the firm. Marketing programs will undoubtedly vary based on the number of consultants, the structure of the organization, the industry being served, and the consultant's location. A strategic leader must understand the vision of the firm and the target audience so that marketing efforts are purposefully developed. This alignment allows for targeted initiatives. Consider the ability to hone digital tools including AdWords, social media, and search marketing for example.
● Develop a Strategic Marketing Perspective. No longer is marketing limited to printed sell sheets, sales brochures, or branded folders. The consulting industry is notorious for historically relying on these types of sales materials and claiming that those materials are the marketing effort. During this age of technology and digital tools, the possibilities related to strategic marketing have exponentially expanded over the past several decades. It is essential for contemporary consulting firms to capitalize on the value that marketing provides in the business development process. A strategic marketing approach leads the firm's efforts to acquire clients as they move prospects through the sales cycle.
● Identify Relevant Messages. Messaging is one of the most critical components of strategic marketing. When developing messaging for the firm:
● Identify the key services the firm offers
● Identify the target audiences that fit the business development targets
● Create the relevant primary, secondary, and tertiary messages
These messages serve as the driver of all the strategic marketing initiatives. These messages are used across the marketing tactics and ensure common themes and messages throughout a campaign or plan.
● Determine if a Marketing Campaign is Necessary. Depending on the situation of the firm, a concerted marketing campaign may or may not be necessary. If the firm is just starting up, strategic marketing efforts should focus on general brand awareness. However, if the firm has a stronghold in the industry, campaigns serve as a great way to emphasize a new product, new service, new sector served, new geographic location, etc. Campaigns, by nature, are short-term whereas general brand awareness efforts can be continual. Based on the context, a campaign may last a week, a month, or a quarter for instance. Campaigns require a specific plan related to, for example, a particular message, a specific target, a select service, etc. A marketing campaign is a component of the overall strategic marketing annual plan.
● Understand Strategic Marketing Tactics Available. There are a variety of tools available to consulting firms seeking to leverage contemporary marketing opportunities. When it comes to digital marketing, simply having a website is not enough in today's society. Here are several examples of tools that are available to firms:
● Landing Pages ● Search Engine Optimization ● Online Reputation Programs ● Social Media Platforms ● Podcast Opportunities ● Expert Interviews ● Infographics ● White Paper Development ● Create a Marketing Plan. Consultants understand the value of ideation and the need for plans when it comes to client projects. However, these same planning initiatives are necessary for a firm's business development success as well. This plan will look different for every firm, but consider developing an annual plan, split by quarter.
1. Study the firm's target audience 2. Create tailored messaging per audience 3. Identify relevant communication mediums 4. Implement appropriate marketing tactics 5. Assess the plan's success
The marketing plan must take into consideration budgetary investment and desired ROI to determine effectiveness.
● Measure the Success of the Marketing Investment. Along with all this planning and implementation, contemporary consultants must measure the success of the marketing investment. The tricky aspect of marketing is that it is challenging to measure Return on Investment (ROI) for brand awareness initiatives. Though still complex, it is more achievable for firms to identify ROI on specific marketing campaigns. When attempting to measure ROI, it is necessary to understand the typical sales cyclical for a particular service/product. For example: If the sales cycle is typically 12 months for a service and a firm attempted to measure ROI on a four-month marketing campaign two months post-campaign, the firm would not generate an accurate ROI. Firms must be aware that depending on the situation, they may only be able to determine a trend, not an exact number.
● Seek Ways to Improve Continuously. There is not one exact marketing equation that works for every firm in every industry. Instead, strategic marketing is about understanding the organization's vision and the target audiences to influence the marketing messaging, planning, and implementation. During this process, there will be opportunities for improvement and lessons learned.
There are just a few of the essential considerations for contemporary consulting firms that seek a strategic marketing approach to business development. These principles provide an initial framework to be expanded to fit the exact needs of a firm. Reflect on ways to integrate a strategic marketing approach to your firm's business development.
Sarah Skidmore is pursuing a Doctor of Strategic Leadership (DSL) at Regent University and Chief Strategist at Skidmore Consulting. She brings innovative and transformative thought to both non-profit organizations and for-profit businesses. Her work is grounded in a values-based application of practical theory to bring the most impact to organizations. Guiding executive leaders, she delivers forward-thinking strategies. E-mail Sarah@Skidmore-Consulting.com.
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