February 6, 2019
reflects on the Propero Partners report titled ‘State of Digital Marketing in Professional Services 2018’ (). Senior decision makers from different professional services were surveyed. There were consulting companies of varying sizes and differing years of operation, including management consulting companies. Referrals and word of mouth are traditional ways for cons...ulting agencies to grow. Of the respondents, 53% don’t invest in paid marketing methods, and 15% don’t use any digital marketing at all. Just 13% of the companies invest more than £20,000 per year in marketing. Unpaid social media (with 53% of respondents) and email marketing (51%) are two of the most used marketing methods for management consulting companies. An average consulting agency receives between one and five leads each month (53% of firms receive 1–5 inquiries, and 48% of firms receive 1–5 referrals). Twenty-seven percent of companies convert more than 45% of the referrals they get, but just 17% of them convert more than 45% of inquiries. This could mean that consulting agencies are still placing more emphasis on winning referrals, rather than treating them both equally. The problem of differentiation of a company from others is always important, but in a rapidly growing digital world, consulting agencies stay behind the progress, continuing to rely on old methods of in-house marketing or living without it. To be modern in the digital era, companies need to improve their competence in engaging clients with modern tools. If they lack for marketing experience, they will ask for help from marketing agencies and concentrate their own efforts on their main business.