Aside from the transparency problem we discussed yesterday…
Another (and I think more significant) contributor to the difficulties consulting firms experience with lead generation is what we’re calling The Revenue Roller Coaster Problem.
It goes something like this:
- Principals are responsible for generating business.
- In order to do so, they typically have to invest a large portion (say 50%) of their week towards drumming up new opportunities when needed.
- Once the new work is landed though, the lead generation pain is alleviated and it’s all hands on deck to deliver for the client.
- Marketing takes a back seat… until the engagement comes to a close that is.
- Then it’s rinse and repeat. Back to the scramble.
Now, there’s a tight balance to strike between capacity and demand within any services business.
But what’s unique here is that the lead consultant is generally also the lead business developer.
That means that the principal’s available biz dev time is inversely proportional to the amount of business taken on by the firm.
And unless the firm has at least some of its client acquisition activities de-coupled from the availability of the principal, this inescapable ebb and flow that makes it virtually impossible to maintain a consistent marketing effort.
Hence the false starts, short-lived content publication attempts, and other well-meaning but ultimately doomed-to-failure lead gen initiatives.
Don’t worry though, we cover how small firms (like yours) have escaped this problem in The Consulting Lead Gen Study.
Coming soon to an inbox near you 🙂