Marketing for Consultants Survey 2015: Results Are In

We asked over 20,000 consultants how they are marketing their services and growing their business. The responses came flooding in. Below you’ll find an infographic with the results from the survey as well as a breakdown with some key insights.

MarketingforConsultantsSurvey2015

– On average consultants spend almost 40% of their time networking. Followed by 12% of their time speaking and giving presentations.

– The majority of consultants income comes from networking (30%) followed by referrals (28%).

– 80% of consultants spend less than $5000 each year marketing their business.

– 31% of consultants make less than $30,000 a year from consulting. About 23% make more than that but less than $100,000. 31% or so make between $100,000 and $500,000. About 4% make over $500,000

– Consultants making over $100,000 a year noted that Writing articles and creating reports generated significant revenue for them. Even more than speaking and presentations which many of these consultants said they spent time on.

– A higher percentage of consultants making over $100,000 a year are women compared to consultants making less than $100k each year. There was also a higher percentage of men that took part in this survey.

– Consultants making over $100,000 a year spend more on their marketing than consultants who earn less.

– The survey was taken by consultants of all different levels of experience. Over 20% of consultants have more than 10 years of experience as consultants.

– The #1 reason people became consultants was to “By my own boss” at 40% of respondents. Followed by “Flexible schedule” coming in at 22%.

– Over 50% of consultants work with 6 clients or less per year. 36% work with between 7 and 20 clients each year.

– Project fee is the most common way consultants are paid at 40%. Unfortunately over 21% of consultants are still using an hourly fee and just 3.4% know how to use an ROI based fee model.

– About 45% of consultants report that their average client project is valued at $5000 or less. 19.7% of consultants have projects valued at $10,000 to $25,000. Only 5% of consultants have client projects valued at $100,000 or more.

– Over 76% of consultants are solo independent consultants. About 20% of consultants have less than 5 employees.

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  • Errol

    Thanks for the info Mike!

  • Beth Rees

    Very interesting data. As an expert, what does this data tell you (in general) about the consulting landscape? I’m pretty new the world of consulting, but not my industry, and it’s a challenge. I recently discovered Consulting Success and plan to dive into Consulting Success System 2.0 soon. Thank you for sharing great information!

    • Welcome Beth! Higher-earning consultants definitely focus more on establishing their authority and expert status. I also see a lot of opportunity for people to improve their fee structures and offerings so they can earn more per project.

  • Erin Longmoon

    Thank you Mike!!! Some of this is quite surprising. I would be interested in seeing an infographic of the types of consultants answering the survey. Meaning, what are the areas of focus?

  • Great infographic Michael! Thanks for compiling that!

  • Great info. Very helpful as I move from coaching into consulting. Thanks for taking the time to put this together!

  • josephbushnell

    Excellent Michael, very interesting info

  • Sean Martyn

    Micheal , are income’s quoted gross or nett ?

  • Thank you Mike! Will like to see some more cross analysis of some responses e.g number of years as a consultant VS Marketing that made your business most etc. Is it possible to get the raw data?

    • Mary – thanks for your interest. This data is now old, we’ll be doing another survey like this soon. Stay tuned.

      • Mike – Earnestly waiting for the study. Meanwhile, my message was sent immediately I got the study report which was over 4 month ago (2015). Since I couldn’t get reply earlier, I guess its outdated. Thanks

        • Mary – this post was published over 12 months ago. We do our best to come back and reply to all comments on all articles and posts. But the more recent ones get our attention first. Thanks for being a part of the community and let us know how we can help you on your journey.

  • Vadim Batkin

    Does it mean, that refferals and networking are the most powerful tools for the lead generation?

    • Vadim – these are the areas where people spend a lot of time, and as a result see more ‘results’ there. Referrals are always the best, but if you focus on another strategy or tactic that works better for your situation you may see better results. Depends on your situation, the market and focus you have, etc.