Home – Research is Playing a Larger Role for Consultants – Are You Ready?

Research is Playing a Larger Role for Consultants – Are You Ready?

Posted on 08-24-2018 by Korinne Bressler

Today’s consultants are pressed to be more than an advisor from a distance. They are being asked to play an integral role in the critical business decisions of today’s leading companies. You need to do more than share information – you need to turn that information into insights that are steeped in research, strategy and a global point of view.

Are you prepared to step up and partner with leadership to drive real change? There are challenges to becoming an integrated, integral part of the core team. Here, we outline a few and offer a tip sheet for overcoming them. Once you understand what you need to remove from your path, you can easily adapt our tricks for transforming into the consultant every client counts on.

Increasing Access to Information

With information immediately accessible, today’s consultants have smarter, more informed clients than ever before. This can be a blessing and curse. It pushes you to perform and stretch professional skills, but it also tasks consultants with the need to be prepared to respond to what clients know (or think they know) and what they want to do with this knowledge.

This means you have to be more informed, more current, and more thoughtful than ever before. Are you confident that you’re up to date on the trends, patterns, context and details of what and who impacts your clients? This is where technology can play a key role. Are you using solutions that accelerate this knowledge, making you more efficient and knowledgeable?

Securing New Business

According to recent studies, one of the top ten issues plaguing global consultancy firms today is attracting and retaining new business. A recent study by Hinge Marketing stated that “this concern tops the list at 79%, and it is a key point: while new business is the overriding priority of every industry we studied, it tops the list by a slightly higher percentage for management consulting firms.”

 How do you attract and retain business? How are you differentiating yourself from competitive firms? According to a 2018 study conducted by Hinge Marketing on high-growth professional services firms, among the many challenges facing their businesses is commoditization of services, among other factors. And, the number one answer in combating these challenges? “Do more research on the needs of our target clients,” coming in at more than 56 percent. Are you leveraging research as a tool for understanding who you’re targeting, what they need and how to best help them grow?

Effectively Using Technology

To do more than share information, you need tools to aggregate, analyze and organize the content you’re using. Do you have these in place? Are you receiving near real-time updates on the companies, issues and topics that matter? Do you have alerts in place so that you and your teams are efficiently informed? Do you leverage mobile functionality so that you’re up to date no matter where you are? If you answered no to any of these questions, assessing your technology strategy is necessary.

Now that we’ve identified just a few of the challenges you’re probably facing as a consultant, be sure to download our tip sheet. It will help you move past them toward real results.

Check out these solutions and resources developed specifically for consultants:

1. Research for Consultants

2. Consulting Buyer's Guide

3. Consulting Tips and Tricks Sheet

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