Working within the B2B Consulting Sector
Liven were recently asked to advise a leading London based B2B Consulting firm how they could improve their digital presence. As part of our consultation we started by exploring the state of the UK Consulting Industry and making a number of key recommendations. Following this we then created a number of concept visuals for how a leading London consultancy firm could improve their website.
The State of the UK Consulting Industry 2011
The UK Consulting Industry is diverse and ranges from ‘pure’ management consultancies to IT consultancies and engineering consulting firms, and also includes accounting and corporate advisory firms, outsourcing firms and HR consulting firms. Today the UK Consulting Industry generates an annual income of around £8bn and the UK market is expected to grow by between 5-6% over the next year.
Consulting firms have not been immune to the turmoil in the financial markets and economic slowdown. Growth slowed and during 2009 there was some contraction. Part of the reason for this was the lock down by the public sector on consulting spend. However it is expected that this lock down by the public sector is expected to ease over the course of the year as the reality of trying to deliver on public sector transformation programmes and cost saving initiatives necessitates the engagement of teams of outside experts.
Private sector demand for consulting is showing signs of improving, a statement which is underlined by the increases in profitability across a wide range of sectors. Areas expected to perform strongly include the: Financial Services, Energy & Utilities, Manufacturing, Telecoms, Media and Entertainment.
With the continuing downward pressure on consultant fee rates, combined with revenue growth during 2011 being achieved not by higher fee rates but by higher volumes, many consultancy firms are reevaluating their staff retention and recruitment programmes. Consulting firms are introducing retention bonuses and special awards to tie in key staff whilst looking to recruit experienced industry experts with an existing track record with less emphasis placed on hiring fresh graduates. This we believe is part of a long-term trend as clients of consulting firms increasingly looking to engage teams of experts rather than teams of generalists.
In conclusion, liven would therefore recommend that Consulting Firms:
1. Works harder at communicating the value of what you actually do, using social networking sites to stimulate positive opinion.
2. Consider how best to retain your key staff and look to recruit new staff with a proven track record within specific industries.
3. Clearly communicate your experience and expertise within your key sectors of operation.
Liven Creative is a design and marketing company based in Surrey. Liven provides, branding, digital, print and media related services. If you are a Consultancy firm looking for professional design and marketing services then you might be interested in receiving Liven promotional pack. Alternatively, if you already know what you want and would like a quote, please either click here or call us on 01483 331250 (Woking, Surrey) or email hello@livencreative.com
