Case Study

Case Study: Marketing a Consultancy

Background

This well-established consultancy has been operating for over 30 years and although it had a good reputation among its client base, its revenue was falling.

One of its main services had become very competitive and hard to market, and another was suffering from diminishing margins. A third area was extremely difficult for a relatively small firm to compete in.

When Godliman Consulting were first employed it was clear that there were short and medium term actions required. First the business needed new revenue quickly but just as importantly a marketing plan was required to create a sustainable market positioning and point of difference.

Short Term Business Development

The firm’s database was out of date so we gathered all the main contacts from the partners and rang each one, setting appointments. This not only meant the partners were meeting clients but we managed to identify some immediate new business.

From conducting a role play in the office it also became apparent that the partners’ sales skills were good but needed enhancing. The meetings booked would bear little fruit unless the partners’ skills were honed. This was achieved through a two day session where we role played the firm’s USPs and strengths and practiced different scenarios.

Next Steps

We then ran two strategy workshops for the partners and consultants where we examined the range of services, mapped the competitive positioning and spoke to their clients and contacts on their views of of the consultancy’s  services and more importantly their needs (clients were mainly CEOs and HR Directors).

It became clear that the business needed to refocus its strategy on services that were more relevant to its market. We changed all marketing materials (including a new website), agreed a new business plan and built a CRM system. We also identified several new partnership opportunities with UK business schools and overseas consultancies.

We also identified one hundred businesses to focus all our marketing activities upon, which include data gathering, direct mail, a lunch programme, PR, a LinkedIn contact strategy and cold calling.

Results

In the first year we worked with this client revenue was up 50% with a significant amount of revenue coming directly from marketing activities (most of it as a result of direct contact with prospects). Also as a result of direct contact one of the world's largest retail banks has appointed the firm as one of its main advisors.

In the next year we also focused on brand building and gained significant PR coverage in the trade press. A seminar programme has served to convert further new business and enables new relationships to be enhanced. 

The new positioning has also brought clarity and focus to all client communications resulting in a clear identity and strategy for the firm. Continued sales and relationship management training has also helped secure further new clients and develop more business from existing new clients.

With continued help from Godliman Consulting, the consultancy enjoyed a record year of profits and turnover. Revenue increased by a further 60% and despite challenging market conditions, revenue grew again, largely due to relationship management, emarketing and business development activities including a new client speaker programme and webinar programme which has led to may new client introductions.

The consultancy was recently bought by a FTSE 250 PLC and continues to build its brand and reputation, and use Godliman Consulting’s services.