Industry & Career Insights

Your Business Might Be Sabotaging Its Value to Clients

Businesses and consultants win big clients. Clients give them money to provide value. Does that value ultimately meet or exceed client expectations? Well, it could depend on if the customer’s perceptions have been properly managed along the way. In an article for Consultant News, Fiona Czerniawska briefly shares some research on how complacency could be at the heart of perceptions of low value.

Champion the Results

Source Global Research combed through its research from 2016, containing data from consulting firms globally (fitting). For starters, they found that 65 percent of clients consider the work they received from consultants to be “good” or “very good.” However, the verdict is still out on the actual value being derived from these engagements. Thirty-five percent of clients believe their consultants provided more value than was spent on their fees, compared to 48 percent who feel fees equated roughly with value delivered, and 17 percent who thought more was lost in fees than gained in value.

However, when Source examined the top 21 largest consulting firms, what they found was that some of the best consulting firms are perceived by clients as adding low value. Does this mean these firms are doling out generic solutions and getting by on past brand recognition alone? Not at all—the work is probably in the ballpark of what would be expected of firms of these sizes. Something else is to blame for these perceptions:

From talking to senior executives who buy a lot of consulting services, we’re reasonably sure why this is. Many consultants believe that the quality of their work speaks for itself: they don’t really need to sell or market themselves. They think that they don’t need to spend time with their clients explaining what they’ve done and how it will help, because clients are bound to recognise this for themselves – and the better the work they do, the more likely this arrogance is likely to creep in.

In other words, a big part of value perception is just having consultants articulate clearly why the work they are doing is a good thing. This is something that must occur no matter how great and brilliant the firm—including yours. You can view the original article here: http://consultant-news.com/article_display.aspx?ID=17216

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