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Marketing for Consultants Survey: The Profitable Tactic You Likely Aren’t Using

The good folks over at Consulting Success have recently finished conducting their annual marketing for consultants survey. The results are quite interesting.

One thing that Michael Zipursky (head honcho over at Consulting Success) points out is the difference in marketing spend as compared to 2013. Consultants are spending less on marketing. But income levels have stayed pretty steady. So that means they are more profitable.

This is really in line with industry trends (as consulting is a booming market and is growing rapidly). Companies are seeking to hire consultants more than ever before.

The one thing I would really like to point out is the discrepancy between how much time people spend on marketing activities, and the activities that return the most income. For most activities, the effort put into specific marketing tactics corresponds with that marketing tactic having the highest return.

However, referrals are an outlier. Only 17% of the consultants surveyed actively pursued referrals. At the same time, referrals were reported as the marketing channel that made the most money for over a third of respondents.

It makes sense that referrals would be so profitable. After all, wouldn’t you be more likely to hire a consultant if someone you know and trust recommended them to you? This is the same reason that review sites like Yelp are so huge. And this is the same reason that companies who use social media correctly (which is very few of them) see such great returns.

So why don’t consultants (and businesses in general) push for more referrals?

Well, for most business owners, it would seem that a referral is a passive activity. The client either refers someone…or they don’t. So businesses take a backseat and just hope that it happens (or just don’t think about it all).

But the truth is, there are systems you can put in place that will make referrals more active. You can actually take steps to increase the amount of referrals your business gets.

Steve Gordon is a master of referrals. And luckily (for all of us), he has just released a new Kindle book that will show you how to boost your business from referrals.

It’s called Unstoppable Referrals. I just picked up my copy, and you can get yours here

Now check out the results of the marketing for consultants survey in the infographic below. What other insights can you pull out of this?

 

Marketing For Consultants

 

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