Insurers' journeys to build a mastery in the IoT usage
Marketing Tactics For Prospecting And Winning Clients
1. Marketing tactics for prospecting and winning clients
Table of Contents
MANAGEMENT SUMMARY.....................................................................................................I
1.INTRODUCTION....................................................................................................................1
1.1. Research Problem and Objective ..................................................................................................1
1.2. Course of Investigation .................................................................................................................2
2.
3. Marketing tactics for prospecting and winning clients
Management Summary
• Haig Barrett, Inc. is a professional services firm that provides Fortune 1000 and
Government managers and executives with management support, skills and knowledge
to increase the value of their organization. Haig Barrett, Inc. has been founded in 2000
based in Los Angeles by Mr. Haig Armaghanian. This Boutique Management
Consulting firm has grown rapidly over the past few years extending its business to
various industries in the United States. Currently the company is experiencing a
significant growth over 3 million $USD for a total of 25 employees and partners.
• Haig Barrett, Inc. prospects and converts leads into contracts by essentially building
strong relationships through Haig Armaghanian (CEO) with existing clients or through
networking. In addition Haig Barrett Associates once they have been introduced to the
client’s internal network spot and land new opportunities. Consequently, the company
does not make extensive use of marketing tactics that are known in the consulting
industry to get more business. Therefore HB feels that there is a need “To review
marketing models specific to the consulting industry in order to implement the
most appropriate marketing tactics within Haig Barrett, Inc and as a result attract
more business”.
• In this report, I will conduct a brief overview of the US consulting market and introduce
Haig Barrett in its environment. Then I will justify my objectives by actions I have
undertaken throughout my training period. I will then demonstrate why I have chosen
this theme for my report and will illustrate my research with various sources on different
marketing techniques used in professional services firms for prospecting and selling.
I will introduce my action plan, justify the different components and explain how I
evaluated the performance of the different elements. I will conclude with my
recommendations for future marketing efforts at Haig Barrett.
4.
5. Marketing tactics for prospecting and winning clients
1. Introduction
1.1. Research Problem and Objective
“Marketing a consulting service […] is a type of Marketing among the most
difficult. Because in most situations, one is selling a relatively expensive
product, which is intangible and often difficult to describe, to an individual who
has frequently a relatively undefined need. Moreover, all of this is
accomplished without any guarantee of success for the buyer as a result of the
purchase”.
This statement of Mr.Greenbaum, President of Group Plus, Inc. reflects the complexity of
prospecting and winning clients in a highly competitive Management consulting market.
In fact, in the United States a large number of consultants are solo practitioners or small
businesses which do not dispose of many resources to spend billions of dollars on
marketing initiatives.
Most of the time, when starting a consulting business the primary focus is to promote the
practice and develop simultaneously marketing materials such as a corporate identity, a
website and a brochure. Once those elements have been developed and distributed the
marketing job is over and boutique consulting firms’ efforts are focused on getting
consulting projects done but having a continuous marketing strategy constantly revised
and updated is not a priority.
As you will see in this report Effective planning and flawless execution are two key
components of a successful Marketing strategy. In fact, to attract clients consultants must
have a well planned strategy. A comprehensive marketing plan is mandatory to thrive in a
competitive market. Once the Marketing strategy is formulated consultants must
implement effectively and continuously their plan in order to attract new clients and
increase sales.
Keeping in mind this theoretical framework, the analysis conducted in this report
especially focuses on researching what are the most effective marketing tools that can be
applied to a small size management consulting business with limited resources and how
those resources need to be managed to be as effective as possible. The goal of this study
is furthermore to contrast literature findings concerning this topic with the Haig Barrett
6. Marketing tactics for prospecting and winning clients
practice. For this purpose research has been conducted on best marketing practices prior
to be selected and implemented at Haig Barrett Inc.
Overall this report aims at examining how my training program has helped to provide
value in terms of Marketing to a boutique management consulting practice and how this
value can be quantified. Furthermore, an updated marketing plan has been developed to
guide future marketing actions.
1.2. Course of Investigation
Chapter 2.1 presents an overview of the Management Consulting Industry. This category
of professional services is clearly defined with an overview of the historic development
of the consulting industry but also a focus on today’s market. The different types of
consultancy firms will be described as well as different areas of consulting. The Chapter
concludes with the singularities of a boutique professional services firm
Chapter 2.2 focuses on the marketing function in a professional services firm. First the
concept of a marketing plan is developed as a start of the whole marketing effort. The
findings on best marketing tools for a consulting practice are then enumerated. Finally
Alignment between marketing and business development is discussed.
Chapter 3 introduces Haig Barrett, Inc. and its environment. A brief overview of the
business and its management will be developed as well as HB’s products and services.
A Situational analysis will be executed to underline the company’s innovative business
strategy in terms of positioning.
Chapter 4 focuses on modern marketing tactics for prospecting and winning clients to be
applied to the Haig Barrett consultancy. A discovery phase spans the existing marketing
material. A marketing roadmap will be developed in conjunction with customized
marketing tools for Haig Barrett.
7. Marketing tactics for prospecting and winning clients
Chapter 5 incorporates the practice analysis performed at Haig Barrett. The findings of
this report will be measured and recommendations on future marketing actions will be
suggested.
8. Marketing tactics for prospecting and winning clients
Table of Contents
MANAGEMENT SUMMARY.....................................................................................................I
1.INTRODUCTION....................................................................................................................1
1.1. Research Problem and Objective ..................................................................................................1
1.2. Course of Investigation .................................................................................................................2