LinkedIn Management Consulting Buyer Survey 2024
Stand out from the crowd
How management consulting marketers can influence buyers at every stage of the decision journey
Businesses are navigating major shifts in the market, and the role of management consultancies is more critical than ever. However, with firms' offerings becoming increasingly similar, standing out is a challenge.
LinkedIn’s 2024 Management Consulting Buyer Survey delves into how businesses procure consulting services. Surveying buyers across Europe, US, and Australia in March 2014, the report uncovers valuable insights on effective marketing strategies.
The survey reveals opportunities to enhance brand presence, tap into the rising demand for consulting services, and differentiate in a competitive landscape.
Find how to stand out from the crowd.
The world of today’s buyer
Today’s management consulting buyers know that rapid evolution is vital. Megatrends including AI and sustainability are challenging businesses in every sector, which is why these businesses are looking to management consultants for strategic and operational support.
What’s driving the use of management consultancies?
#1 Improved operational efficiency
#2 Driving digital transformation
#3 Adoption of AI
#4 Cybersecurity
#5 Developing data and analytics capabilities
Trend 1:
Build a brand reputation before buyers are “in market”
Brand reputation has always mattered. But with most buyers now picking a provider prior to final evaluation, it’s crucial for marketers to build their brand long before the buying cycle begins. That means using thought leadership and being visible across all channels to increase trust.
58% pick a winner for their contract prior to evaluation
86% say trust is as or more important than innovation
Trend 2:
Ensure a strong association with your specialization
For buyers, industry specialization is now more important than price and brand heritage. Marketers must ensure their specializations are front and center, using thought leadership and case studies to demonstrate credibility and expertise.
41% of firms choose a consultancy based on specialization
1 in 2 said no firm stood out for AI or advanced modelling
Trend 3:
Distinguish your brand with creative content and execution
Most buyers cannot tell firms apart without research, and they find their advertising falls short on creativity and memorability. Marketers can look to brands outside the industry for inspiration on how to make ads more emotive and fire buyers’ imaginations.
83% of buyers can’t tell firms apart without some research
73% say management consulting ads aren’t always memorable
Trend 4:
Engage the whole buying group
Marketers often obsess over capturing a C-Suite audience, but these days IT, Finance, Strategy and Operations are key influencers too. As buying groups get bigger and processes take longer, marketers should understand the whole buying group and ensure content speaks to their diverse needs.
60% say their buying group has grown in three years
67% say IT is a key purchasing influencer
Trend 5:
Address buyers’ needs at every stage of their journey
Buyers’ needs are constantly changing. They use information they have learned from social media at all points in the sales funnel; from researching topics to sharing information with decision-makers. Marketers should anticipate this mix of outlooks and objectives and address them each step of the way.
59% want comms when actively looking for a solution
84% use LinkedIn every week for information on management consultancies
Trend 6:
Make it easy for buyers to understand your offering
While buyers often choose winning suppliers early in the process, they also like to research plenty of options. Marketers should be familiar with the information sources buyers use and then diversify their approach to match.
80% of buyers say the number of sources they use to research consultancies has grown
4 most used sources are analyst reports, websites, articles and case studies