Marketing is what earns the consultants their bread and butter. However, very few know how to excel in it. In this Consulting Success article, Michael Zipursky talks about the marketing tactics that top consultants apply.
The Game Plan of Consultants
Zipursky has talked to 33,000 consultants for the 2018 Marketing Strategies for Consultants Study. The survey demographics was majorly based on male consultants (72.1%) in North America (55.7%) that were aged over 30 years.
They answered the following questions:
- The time they spent on marketing
- The methods that bring them the most revenue
- Their annual marketing budget
- The number of clients they work with annually
Popular Tactics: Networking and events, presentations, LinkedIn connections, email marketing are popular marketing methods. They also use blogging, phone calls, direct mail and print advertising, joint ventures, online advertising, etc. However, the most popular method is referrals (22.7%).
Tactics That Work: 43.7% of respondents vote for referrals. Networking and events, presentations, phone calls, LinkedIn connections, and email marketing fetch them money. Online advertising, joint ventures, direct mail and print advertising, blogging, etc. bring up the rest.
Marketing Expenditure: While 50% of consultants spend less than $1,000 each year, 1.4% spend above $100K.
Annual Income: 22.4% of consultants have an annual income between $80 to $150K. A few are making over $3M.
Being Their Own Boss: 32.5% wanted to make the most of their talent while 25.7% wanted to run their own business. Others started their business because they wanted flexible working hours, lost their jobs, or found this as a better way of earning money.
Client Accounts per Year: 31.7% of consultants work with 3 to 6 clients a year. Only 4.1% cater to over 40 clients annually.
Employees or Contractors: While 67.2% are running their businesses alone, 0.8% have hired over 25 employees.
To view the original article, visit the following link: https://www.consultingsuccess.com/marketing-strategies-for-consultants-study-2018