Marketing for
Consultants: Strategies,
Budget, ROI and More:
Survey Results
BY Michael Zipursky - 36 Comments
The responses came ooding in. My spreadsheet lled, I put on my glasses and
got down to making sense of all the data.
After crunching the numbers here are the survey results. Id love to hear what
you think about them in the comments below.
Wed like to share these results with as many consultants as possible, so feel
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 1/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
Wed like to share these results with as many consultants as possible, so feel
free to use the social media buttons to the left to share this on Twitter,
Facebook, LinkedIn and Google+.
As you can see, its quite clear that consultants that took the survey tend to
favor working on generating referrals and developing their network. These two
marketing methods are known to be e ective for any service professional so this
doesnt come as a surprise.
Here are the same results as above but in a bar chart format.
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 2/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
This is what youve been waiting for, right? After going through hundreds of
responses below youll nd the marketing strategies and tactics that are making
consultants, the ones that took this survey, the most money.
From these results we can see that referrals and networking generating the
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 3/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
From these results we can see that referrals and networking generating the
highest ROI for consultants. Behind those were presentations and seminars at
9% and cold calling at 8%. Many people have said cold calling is dead. These
results clearly show that while it may not be the most comfortable marketing
method or the most e cient, it does generate consulting revenue.
Here we looked at how much money consultants spend each year marketing
their business. The numbers are all over the place on this one.
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 4/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
The data suggests that the average consultants spend on an annual basis is
$7,462 USD marketing their business. The highest amount was $200,000 and
the second highest was $120,000. This was an anonymous survey so I dont
know who these people are. But I would love to do an interview with them (so if
youre reading get in touch).
The lowest anyone spent was $0. And yes, there were several people claiming to
spend nothing on marketing. This either means youre totally new to marketing
and have not yet recognized the importance of marketing to build your
consulting business. Or, youre so well established that you dont need to
promote your business at all and the phones are constantly ringing (or your
inbox is full, and Im not talking about spam).
I found this data to be too vague. So I dug into the numbers to create a chart that
would be more valuable for you (at least I hope it is).
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 5/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
The above chart clearly shows how much money consultants are spending on
marketing their businesses. About 20% of consultants are spending more than
$6000 annually. More than 25% spend $2000-$5000 each year. And about 45%
of consultants spend less than $1500 a year.
What do you make of this data? This is the rst time weve conducted a survey
like this but I think, based on the response we received, I might want to run this
again.
Look forward to your comments, thoughts and questions below and feel free
to share this with your colleagues and other consultants.
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 6/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
SortbyOldest
Recommend 6 Share
Jointhediscussion
JoshuaYoder5yearsago
Thesearegreatresultstothesurvey.It'sprettypowerfultoseewhateveryoneelseis
spendingonmarktingandwherethey'replacingtheirefforts.
It'salsoaverycompellingargumentforthepowerofnetworkingandreferrals.
JoshuaYoder
2 Reply Share
Joshuagladyoufounditvaluable.
Reply Share
JoeHughes5yearsago
Thankyouforsharingtheresults.IguessI'mnotsurprisedbuildingrelationships,
referrals,andpartnershipsisthewaytogo.Thosearethetoolsthathaveworkedbest
formetoo.I'msurprisedtohearthatpeoplearesayingthatcoldcallingisdead!Cold
Callingisverymuchalive,withonecaveat.Youcan'tjustcoldcallandpitchyour
servicesanymore.Noonehastimeforthat.Youhavetocallwithsomethingvaluable
foryourprospect.Saysomethinglike,"I'veshoppedatyourstore/eatenatyour
restaurant/beenacustomerofyoursbeforeandI'vebeenthinkingaboutthewayyou
doX.IhaveafewrecommendationsonhowyoucanimproveX.TheyareA,B,and
C.Let'smeettochataboutitalittlebit."Whenprospectsseethatyou'vedonesome
homeworkandlegwork,theyrespondcompletelydifferently.
4 Reply Share
Joegreatpointoncoldcalling.Thatdefinitelyisamoreeffectiveapproach.
Alwaysplacethefocusonvaluefortheclient/prospect.
Reply Share
KarinWills5yearsago
Idon'tknowwhattothinkasitwouldbehelpfultoknowwhatrevenueornewclients
etc.weregainedasaresultofthedollarsspent.Also,itwouldhelptoknowwhichof
themanyoptionsusedhavethebestresults.
Thankyouforsharingtheinformationtodate.
Reply Share
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 7/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
You'rewelcomeKarin!
Reply Share
BrandiStarr5yearsago
Ijusthadaconversationwithsomeoneaboutthemosteffectivetools,sheisnota
consultantandbloggingforherishugeandnetworkingislukewarm.Forme
(marketingconsultant)itistheoppositenetworkingismybreadandbutterandmy
bloggeneratesverylittlebusiness.
Greatstudy,Ialsothinkthatthosewhoclaimtospend$0arelikelyrelyingonsocial
mediaorignoringsomeofthecoststhatdon't"seem"likemarketingexpenses.
Reply Share
Brandimanypeoplestillviewmarketingasanexpensewhentheyneedto
consideritaninvestment.
Reply Share
RichardLanguage5yearsago
Thisisagreat,helpfulsurvey.Thanksforaskingthequestionsandcrunchingthe
numbers!
Ihaveafewfollowupquestions.Wecanseehowmuchtimepeoplespendon
differentmarketingstrategies.Howmuchmoneyaretheyspendingoneachmethod?
Sincemostpeoplearespendingtimeonnetworkingandreferrals,andtheaverage
amountpeoplearespendingonmarketingisabout$7500,whataretheyspending
moneyon?Whatarethemosteffectivewaystospendmoneyforbuildingnetworks
andreferrals?
Reply Share
Richardgreatquestions.Ican'tprovideanswersbasedonthedata.We
madethesurveysimpleforapurpose,togetlotsofresponses.Butafter
seeinghowpopularthiswaswe'llconsiderrunninganothersurveyinmuch
greaterdetail.Regardingyourlastquestion,youcaninvestingoingtohi
qualityeventsandconferenceswhereyourclients/prospectswillbe,aswell
assetupareferralsystemwhereyouawardcustomerswithgiftsandother
itemstheywillappreciateandfindvaluableitcostsmoneytodothisbutit
helpsbuildaWOWexperienceandcreatesloyalty.
Reply Share
Miguel5yearsago
Howmanypeopleresponded?DidImissthis?
1 Reply Share
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 8/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
Harbims>Miguel5yearsago
Ureadmymind,Ijustaskedthesamequestion.
Reply Share
Miguelcloseto1000
Reply Share
Info5yearsago
Greatwork,youguyssimplyrock.Justonesuggestion,canyouguysalsogather
resultsorfindingsregardingthereturnonthemarketingefforts?
Reply Share
Notfromthelimiteddatawecollectedthistime.Butwemayextendthisintoa
followupsurvey.
Reply Share
Harbims5yearsago
Thanksforsharingtheresults,canweknowhowmanyconsultantparticipatedinthis
survey.
Thanks
Reply Share
Harbimsrepliedtothisabove.
Reply Share
Dpoulos5yearsago
Interestingresults,mypracticeisgrowingandI'mdeadaverageonthespendandthe
activitydivision,anditstrikesmeascorrectthatwespendthemosttimeonthethings
thatmakeusthemostmoneyevenratscanmanagetopushthebuttonthatbrings
thefood!Inoticethatalotofmy"marketing"expensesarerelatedtofueling
networkingactivities,settingupandpromotingpresentations,andsettingup
circumstanceswherethesetypesofactivitiescanoccurprofessionalmemberships,
eventregistrationfees,directorylistingsetc.
Reply Share
WamyTheMayorKufakwandi5yearsago
thisisgreatdataandveryvaluablesinceitshowsfornewconsultantslikemyselfthat
thereisaneedtospendtimeonmarketingyourbusiness
Reply Share
MoizVaswadawala5yearsago
Wasthissurveylimitedtoaparticulargeography,ifyeswhichgeodidthiscover.
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 9/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
Wasthissurveylimitedtoaparticulargeography,ifyeswhichgeodidthiscover.
Woulddealsurveyoutcomeapplytodeveloping/emergingmarkets.
Reply Share
Moizthesurveywasnotlimitedtogeography.Consultantsfromaroundthe
worldtookpartinthis.
Reply Share
PrasannaHiwase5yearsago
DearMichael,
CanyouthowsomelightonIndianMarketregardingtheManagementConsulting
Business?
IwouldliketoknowthetrendsinIndianMarket.
Reply Share
Seabelo455yearsago
Thankyouforsuchvaluableinfomation....asanewconsultantInowknowwhereto
mostlyfocusregardingmymarking.
Reply Share
You'rewelcome,gladyoufoundithelpful:)
Reply Share
April5yearsago
HiMichael,
Thankyouforputtingthissurveytogether.Iamnotsurprisedbytheresults.
Itconfirmsthatfacetofacemeetingsandpersonalcontact,connectingwithpeopleis
themosteffectivewaytogetnewbusiness.Oncepeopletalkwithyouandtrustyou
cantrulybringvaluetothemandtheirbusinesstheywillhireyou.
Reply Share
WendellN.5yearsago
Totrytogetalookathoweffectivetheamountoftimespentonthesemarketing
effortsis,IcrunchedthenumbersofMr.Zipursky'ssurveyresultstoproduceone
moreindicator.Thisbarometerisobtainedbysimplydividingthepercentofmoney
madebythepercentoftimespenttogeneratethoseincomeamountsresultingina
quotientinwhichthehigherthevaluethemoreproductivethatactivitywasin
generatingmonetarypayoff.
Inabusinesswithasmanyvariablesasconsultingitishardtotakeanyofthese
factorsbythemselvesasincomeisalmostalwaystheresultofmultiplefactors.
Howeverifyouarespendingahighpercentageofyourtimeonsomeofthelower
performingendeavors,youmaywishtoreprioritizethesemarketingstrategies.
Althoughpublicityworkandwritingarticlesandreportswerenoshowsonthemoney
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 10/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
Althoughpublicityworkandwritingarticlesandreportswerenoshowsonthemoney
producinglisttheyprobablywereacontributingfactorcombinedwithothersor,atthe
least,maketheEsteemorSelfactualizationlevelsofMaslow'spyramidandarea
learningexperience.
%MoneyMade%TimeSpentProductivityQuotient
Referrals38192.00
seemore
Reply Share
Wendellthanksforcrunchingsomeadditionalnumbers.You'recorrectthat
therearemanyfactorsandthisinitialsurveydoesn'treallyprovideenough
datatogiveafullpicture,butgladtoseethatmanyreadersfounditvaluable.
Reply Share
Evan5yearsago
Thankyoufortheinfo.IthelpedmestrengthenmybeliefsinthedirectionI'mtaking
aregoodforgeneratingbusiness.And,thankyouforthetimetodothisandnotmake
itateaser.
Allthebest,
Reply Share
Evanappreciatethekindwords.
Reply Share
Islam5yearsago
Niceone
butihaveaprobleminreadingthecharts
Iamcolorblind:)
anyway,Thanksfortheefforts
Allthebest,
Reply Share
You'rewelcomeIslam.
Reply Share
KasraSorouri5yearsago
thankyouMichael
Itwasappreciativejob.
Reply Share
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 11/12
6/9/2017 AmountConsultantsSpendonMarketing,MostEffectiveMarketingforConsultants|ConsultingSuccess
AarniHeiskanen5yearsago
Michael,thanksforthesurvey.Thisissuehasn'tbeenstudiedtoooften!
Reply Share
Keith5yearsago
Greatdata!Iknowtheaveragespendwasaround$7500,butlookingatthegraphit
seemslikethemedianspendmaybehalfthat.Doyouhavethemedianspendfrom
thesurvey?(sinceaverageisheavilyinfluencedbyoutliers)
Reply Share
Deema4yearsago
veryhelpful,thankyouforcompiling!canyougiveexampleson"Networking"spend?
Reply Share
ALSOONCONSULTINGSUCCESS.COM
ThePowerofBeingDecisive:Why 4PrinciplestoGrowYourConsulting
GoingForItAlwaysMakesSense Business
6commentsayearago 4comments3monthsago
AvatarLeeWerrellGoodpieceandvery AvatarMichaelZipurskyCarlFriesensaw
accurate.ManyyearsagoIwas yourcommentnow.Itreallydependson
introducedtoanexplanation thetypeof
5TipstoGetPublishedInIndustry DeterminedtoGrowYourConsulting
Publications Business?
2comments9monthsago 2commentsayearago
AvatarMichaelZipurskyYou'rewelcome AvatarMichaelZipurskyGreatquestion
Simonandgreataddition! Nicole.1)Takeaction.Evenifithurts.
Evenifyou'rescared.
http://www.consultingsuccess.com/marketingforconsultantsstrategiesbudgetroiandmoresurveyresults 12/12