Consulting firms (management, IT, financial, etc.) are adjusting to a market where clients expect both deep expertise and tangible results amid economic uncertainty. Business models in consulting have seen some diversification – many firms are developing software tools or analytics platforms as part of their offerings, creating hybrid service-product models.
External challenges include clients’ tighter budgets and demand for clear ROI; firms often face shorter, more focused engagements as companies seek quick wins. The competitive landscape is shifting as well: large firms are encroaching on each other’s domains and acquiring niche players, while boutique consultancies leverage specialization and agility to compete.
Technology is influencing delivery (virtual collaboration tools, AI for data analysis) and also creating new consulting services (e.g., advising on digital transformation or AI implementation). In marketing, consulting has traditionally relied on reputation and networks, but now a strong digital thought leadership presence is essential. Firms publish insightful reports and articles, and host webinars or podcasts, to demonstrate expertise and stay top-of-mind for potential clients. SEO helps ensure this content is found by those researching business challenges (e.g., a company searching for “supply chain strategy consulting” finds a whitepaper you wrote). LinkedIn is a critical platform for amplifying content and building relationships. Some consulting firms also use targeted ABM tactics – identifying key potential clients and tailoring marketing (like custom research pieces or exclusive events) to engage them. Overall, consulting firms are learning to market themselves in a more systematic way, emphasizing proven results and unique methodologies while maintaining the credibility expected in professional services.