A “worrying gap” has been discovered between the low adoption of digital marketing by management consultancy firms and the digital-first approaches now demanded by their clients.
As reported by Consultancy UK and part of the UK-based ‘State of Digital Marketing in Professional Services 2018’ report, a reliance on traditional word of mouth referrals is lingering among professional services firms, compounded by a complacency to adopt spend big on new and innovative marketing channels.
That’s despite 75 percent of those companies surveyed realising the need to go digital in their marketing. The result is that many of these companies – which tout expertise in digital transformation strategies – are not landing in front of their target audience in an evermore competitive and crowded digital marketplace.
Conducted by Propero Partners and based on responses from firms of various sizes and operating years, the survey found that only 13 percent of companies invested more than £20k per annum in marketing. Most shockingly, though, was that 53 percent don’t invest any budget at all, while 15% are giving digital marketing the swerve full stop. As noted by Consultancy.UK, these firms offer services based on innovation, effective change and progression, with an emphasis on adaptability and agility.
By lagging behind in digital marketing, not only are they missing out on potential leads, but their perception among clients could suffer if they’re not seen to be practicing what they preach.