Consulting is more than just giving Advice. And a consulting firm is a business composed of industry-specific experts who offer professional advice, guidance, and actionable solutions to businesses experiencing issues they can’t deal with in-house. Every company is bound to have problems; consulting firms are contracted to solve them, Opines Hirav Shah, who is himself a Celebrated Business Strategist & a Consultant.
Executives generally reach out to consulting firms to send industry-specific experts, known as consultants, to observe and analyze a company’s operations. Consultants offer guidance and actionable solutions to problems the organization may be having. Consulting firms tend to have specific focuses, and companies pay them to lend their expertise on problems that can’t be handled internally.
In other words, the consulting firms provide consulting services to aid organizations improve their performance and efficiency. These companies analyze businesses and create solutions while also helping businesses meet their goals.
On That Note, The Top 10 Consulting Firms in the Market are: McKinsey & Company, Boston Consulting Group, Bain & Company, Deloitte Consulting LLP, Oliver Wyman, Booz Allen Hamilton, EY-Parthenon, PwC Advisory Services, A.T. Kearney &GE Healthcare Partners.
Once your consulting company is established, it’s time to start marketing your services to potential clients. After all, if your consulting service has no clients, then you have no business. But you must remember that selling your consulting services isn’t the same as selling a car or a house — your job is harder because you’re marketing your services to people who may not even be aware they need those services.
Here’s a look at the effective marketing methods as suggested by Hirav Shah, to get the word out about your business:
Direct mail is a powerful way to drum up new business because it’s targeted to exactly the audience you want to reach. You create or rent a targeted prospect list, then send your prospective clients a sales letter, brochure, flier or “lumpy envelope” with a gift enclosed, all describing the consulting services you offer.
Here are some tips for creating attention-getting direct mail
a.Personalize your sales message. Use a mail merge program and address each envelope to the recipient by name. In the same way, your sales letter inside the envelope should be directed to that recipient by name.
b.Put a compelling message on the outside of the envelope. “Free,” “Limited time offer,” and “Act now” are all powerful attention-getters that can induce the recipient to open the envelope.
c. Stress the benefits of your offer, and give all the pertinent details in your sales letter. Then make it easy to respond or request information. Give your phone number, e-mail address and website URL–and include a postage-paid postcard or envelope, too, so it’s impossible not to get back to you if the interest is there.
Another way to reach out to prospective clients is through cold calling, which is the process of contacting prospects who weren’t expecting a sales call from you and trying to sell them on your services. Most people absolutely abhor cold calling, but when you’re starting a new business, it’s a good idea to try a mix of techniques to land new business, which means you should give it a shot.
There are some ground rules for successful cold calling. First, be prepared to be rejected. To get at least one prospect to say yes, you may have to make between 20 and 30 contacts with people who have the authority to hire you. Next, try phoning between the hours of 6 and 8:30 a.m. — it can be a great time to catch someone when they might be more receptive to your sales pitch. Second, practice your pitch, both out loud and in front of a supportive business colleague or friend. Ask for feedback on the effectiveness and sincerity of your delivery, and make adjustments as necessary.
Because traditional advertising can be expensive, it’s important to spend your advertising funds wisely. Depending on the type of services you offer, it may be necessary to advertise in specialized trade journals or magazines. In addition to placing ads in the full print run of a publication, you also should consider advertising in any specialty sections that might include a “Consultants Directory” or “Directory of Consulting Services.”
Newsletters can be an effective tool when it comes to rounding up clients for your consulting business. Through newsletters, you can present news of interest to potential clients and remind former clients that you’re still alive and kicking–and available if they need help again.A typical newsletter published by a consultant will include News of importance to the industry. You can collect information from a variety of sources, including magazines, newspapers, professional journals, websites, etc.
This often-overlooked method of finding new clients is an easy marketing activity. All you have to do is wait until you’ve finished your consulting assignment, confirm that your client is completely satisfied, then ask for a referral. Rather than putting your client on the spot, send a note or a short letter thanking them for their business and asking for the names of any colleagues, friends or business associates who might be good prospects for your services.
Business owners should consider hiring consultants when they need help or perspective, on their chosen path for a catalyst for change in their companies, Opines Hirav Shah.
Proactively defining your niche, setting your rates, and expanding your network will set your consultancy up for success, Asserts Hirav Shah, pertaining to consulting companies.
Hirav Shah’s business insights and assessments and advises have always been practical, visionary & immensely helpful.That is the reason, many struggling businesses with Shah’s help are finally riding on their path to success & fortune. Or rather we can say, those businesses are getting transformed indeed.
In addition, Shah’s Astro-Analysis has made many businesses take on challenges with confidence & certainty which is extraordinary, considering today’s unprecedented times…
If you are going through a difficult period, and if you want to know when things will turn around for you & become more productive & positive, you know “Where To Ask”.