Should Your Consulting Firm Be Specialized?

n the past, specializing could be risky for consulting firms. Consider the limits a pre-Internet consultant would be placing on their potential clients. The firm would’ve been hard to find, making it difficult to serve their client base.
But now, with global reach, finding clients has less to do with geography and more to do with fitting clients’ needs.
Because specialization helps your consulting firm match specific needs, it also makes it easier to target your marketing efforts. By narrowing the audience you’re trying to reach, your advertising and marketing can address issues specific to a given industry, professional role, or region.
When your target demographic searches for solutions, they will be much more likely to find you – and general consulting firms will appear less equipped to solve their problems.
There are definite benefits to specialization. How do you decide your firm’s focus?

 

First, determine the kind of specialization you’d best be suited for. There are five categories:

1. Industry specialization.

Consider the prior experience within your firm. In what industries do your consultants have the most knowledge and insights into? Choosing a growing industry that your firm is well suited to serve can be a powerful boost to your business.
It’s best to select a stable, growing industry—and it’s crucial to keep up with trends and technology in your chosen field, so that you avoid the pitfalls of obsolescence.

2. Service type specialization.

Many services transcend industry, such as strategic planning or social media consulting. By leveraging expertise in a specific service, you can build deep credibility in your area. This is particularly true when focusing on a new or complex service that few businesses have mastered.

Read more at http://www.business2community.com/marketing/should-your-consulting-firm-be-specialized-01238211