E-Paper: How should small/micro consultancies market their services? An exemplary case for a German medical micro consultancy
Abstract: In the past small/micro consultancies have neglected marketing due to many reasons, such as limited resources or success with one major client. This is why an in-depth analysis on this topic of interest was performed. Special areas of interest were, what services should be focused on, how to market them successfully and feasibly and what clients perceive as most important for the final selection of a consultancy. IPP a German micro consultancy was used as the focal point of the study, to answer these research questions.
Along with the secondary data obtained from the literature review, primary data was obtained by analysing marketing tools, consultancies and their clients in the German medical industry. A client survey with 49 participants from European medical companies, which covered a wide spectrum of clients, was conducted. Relevant statistical analyses were carried out to identify the significance of the results. Additional questionnaires with IPP employees and interviews with experts were conducted to supplement the data.
Results show that consultancies should focus on several service sectors, as well as offering industry content and trainings to their clients. They should also use several marketing tools and not solely rely on referral marketing. A list of tools was identified that can be implemented with a limited marketing budget. Examples are speaking/presenting and networking at events, content marketing and online marketing. These tools were found to help successfully find clients and build trust.
Consultancies should also develop as many relationships as possible with different clients and build on their knowledge in their field of business, as this will develop their reputation. These points should be focused on, instead of trying to offer too many services. If this is achieved, consultancies will improve their success in the final selection process carried out by clients.
It is important that consultancies are prepared to invest the necessary time and make marketing a whole company obsession. To achieve this, the starting point should involve consultancies assessing their situation and developing a marketing plan. This will help them identify all the necessary aspects to successfully market their services in a systematic format.
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