The Big Question
Questions I get from consultants. And my answers.
Question #14: I received this question from a reader (thanks!):
'Luk, 2020 was a tough year. Do you see any future trends emerging from the challenging 2020 year, important for us to take into account in our work as consultants?'
2020 was a rough year indeed. For many consultants, it turned the way they do business upside-down. No more client meetings. No more conferences. No more stability.
The way I like to think of these struggles is that 2020 has made us, as consultants, stronger. We are going to come out of this better equipped to handle our marketing, business development, and client relationships.
2020 has accelerated many trends that were on the way anyways. It has made the weaknesses in our existing business growth strategies all the more obvious and made it impossible to ignore them. So here’s my TOP 4 of what I believe you, the consultants, should prepare for in 2021.
1) Prospects AND existing clients will increasingly look for outcome- and pain-resolution-focused consultants. They will want to see tangible results in much shorter periods of time. As an expert consultant, you will need to be able to explain very clearly (and in 30”) what specific problem you are able to solve for your client. You should also prepare to explain your driver(s) of transformation – how exactly are you equipped to take them from Point A (their current pain-ridden state) to Point B (the “promised land”). It takes focus, specialization and authority to stand-out in an overcrowded, highly competitive consulting market!
2) Digital marketing in consulting will run the show. Your prospects, even more so than before, will expect you to reach out to them through digital channels, to provide them with insightful content, to educate them, to deliver superior experience virtually. During this year, I’ve seen a lot of consultants jumping on this and getting better at it. So, the challenge for the lagging consultant becomes bigger and bigger. Remember what I keep repeating: your (digitally savvy) competitor is only one click away (and client loyalty is at an all-time low).
3) Consultants/consultancies will compete on content. Clients will be significantly more picky about who they work with. They will look for results, stability, reliability, and authenticity. They will spend even more time doing their own online research on potential partners – consultants and consultancies – so content marketing will become the battle field. It will be about differentiating yourself from your competitors, and the only way to do that is by creating content that’s 1) authentic, 2) educational, 3) insightful, 4) tells a unique story, 5) consistent.
4) Data-driven marketing will be a must in consulting. You can no longer afford to scream into the void or, rather, the noise of your network. You will have to get much more targeted and strategic in your approach. In order to maximize the ROI of your efforts – and believe me, 2021 will require you to put in a lot of effort into marketing and sales – you will have to learn how to collect and evaluate data on your audience. Who is visiting your website, your blog? Why? What do they do next? How can you further improve the value you offer? How can you more efficiently convert users into leads? All of this can only be done through the use of data. It’s no longer a “competitive advantage.” It’s a must to survive and grow.
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