The results are in…
We asked over 15,000 consultants how they market their consulting services as we do each year.
We’ve compiled the results and created an infographic that shows you what type of marketing consultants are finding most effective and what is the most ineffective.
See the full infographic with survey results below:
- Networking and referrals continue to be the most popular ways of marketing consulting services. It’s interesting to note however that while 35% of people said that referrals was responsible for generating the most money for them, only 17% of people actively engage in going after referrals. Big opportunity here for those of you who learn how to use proven referral strategies.
- In many cases the number of people applying a specific type of marketing (say Speaking) results in that type of marketing being the biggest revenue producer for them. As I’ve long said, it doesn’t matter what type of marketing you do – all channels may produce great results or poor results – what matters is that you get behind the RIGHT type of marketing that will resonate and get the attention of your ideal clients.
- Consultants spend on marketing between 2013 and 2014 has dropped significantly in the $3000-$6000 range. From 25% last year to only 7% this year. The lower brackets have roughly the same distribution as the previous year while the higher brackets of spend have decreased in percentage.
- Annual income has remained almost unchanged. Which if we compare to the marketing spend means that consultants are profiting more in 2014 so far compared to 2013.
- 2014 saw a 3% increase (compared with last year) in consultants choosing this profession because of the flexible schedule they get to enjoy.
- For some odd and unfortunate reason more consultants using an hourly fee increased 2% over last year. 48% of consultants use project based fees compared to 51% in 2013.
- The distribution of project size was mostly unchanged compared to last year. The most common project size is $5000 to $15000. Project size of $30000 to $60000 and $60000 to $100000 saw a 1% and 2% increase respectively.
- 77% of respondents to this survey were men. Since roughly 50% of our customers and clients are women this unproportionate number likely just shows that for some reason men wanted to respond to this survey while most women didn’t.
- 29% of respondents are 41-50 years of age, while 51-60 and 60+ make up 28% and 18% respectively.