What Is the Role of Brand in Management Consulting? Research Highlights from Industry Study

The BIG Question
What is the role of branding in management
consulting?
See more study results at: BIGMgmtConsulting.com

An organization’s brand is
reflected in its distinct values
system, unique personality, and a
clear vision of what it stands for.
Brand is embedded in the culture,
and shapes and guides how the
organization presents itself (both
internally and externally) and
carries out its mission.

A shifting landscape, starting from the top.

Overarching questions we set out to answer.
 How is brand being used as a business asset?
 How can branding and marketing help firms achieve business goals?
 How does brand compare with partner reputation as a business
builder?
 Is the role/importance of brand related to firm size?
 What are the most effective channels for connecting with key internal
and external audiences?

Methodology
Online surveys sent to AMCF membership and database.

Who Responded: Functional Roles
Q/ Which of the following best describes the area of specialization of your position? (n=76)
18%
25%
5%
8%
3%
26%
7%
8%
Service line
Corporate strategy/head of practice
HR
Industry vertical
IT
Marketing
Operations/Finance
Other

Who Responded: Geography
Q/ Which of the following best describes your firm's geographic focus? (n=76)
13%
12%
29%
45%
1%
Regional
National (US) with little to no global reach
Primarily national (US) with some global reach
Global
Non-US with US office(s)

Who Responded: Organizational Structure
Q/ What is the ownership structure of your firm? (n=76)
37%
43%
20%
Partnership
Privately held
Public

Who Responded: Titles
Q/ Which of the following titles best identifies the level of your position within the firm? (n=76)
20%
36%
9%
15%
12%
9%
Executive Management
Partner/Owner
Vice President
Director
Manager
Other, please specify

Who Responded: Size
Q/ Approximately how many full-time employees are there at your firm? (n=76)
BIG & BIGGER
STRADDLERS
GAINING SCALE
BOUTIQUE
30%
31%
20%
19%
Less than 50
50-1000
1001-5000
Over 5000

The 6 BIG Findings
The Six BIG Findings

/How Do You Define Your Brand?
1

You offered a plethora of words to describe your firms.
Collaborative, client-focused, Growing, complex, insightful,
Ambitious, innovative, good listener, hungry, integrity,
high-end, decision-oriented, collaborative, active, ethical,
dynamic, intelligent, progressive, nimble, collaborative,
intelligent, results-oriented, innovative, adaptable, silo’d, high
quality, continual learning, quality, service-oriented, winning,
collaborative, honest, data driven, fast paced, forward
thinking, integrity, dedicated, collaborative, evolving, striving,
integrity, passion, flexible, customer-centric, premium, expert

Some themes emerged from the responses.
Ambitious, innovative, good listener, hungry, integrity, high-
end, decision-oriented, collaborative, active, ethical,

You view yourselves as client-focused.

You get results.

Values were often mentioned.

No surprises … until we segmented responses by firm
size.

While large and small firms coalesced around a handful
of attributes …
quality, continual learning, quality, service-oriented,
thinking, integrity, winning, dedicated, collaborative, evolving,
striving, integrity, passion, flexible, premium, customer-
centric, expert

… the mid-sized firms offered a very different list of
attributes.
Collaborative, client-focused, growing, complex, insightful,
ambitious, innovative, good listener, hungry, integrity,
quality, continual learning, quality, service-oriented,
thinking, integrity, winning, dedicated, collaborative, evolving,
striving, integrity, passion, flexible, premium, customer-
centric, expert

We asked respondents which management consulting
brands they admire and why.

The words used to describe brands you admire suggest
stability, vision and focus.
Strength of resources, global, focus, specialization, thought
leader, corporate IQ, hardworking, the best, legacy, gold
standard, pedigree, trend-setter, innovative, treat its people
well, great place to work, ability to attract talent, a clear
employer brand, well defined, tell their story well, brand
consistency, ability to articulate who they are, well defined
offering, pervasive, visibility

Large and small firms align with admired brands …
Large and Small Firms
Quality
Intelligent
High-end
Expert
Winning
Premium
Admired Brands
High quality
Corporate IQ
Gold standard
Thought leader
Pedigree

…but mid-size firms feel differently.
Mid-size Firms
Evolving
Complex
Hungry
Active
Fast-paced
Growing
Adaptable
Continual Learning
Striving
Ambitious
Flexible
Admired Brands
Well defined
Ability to articulate who they are
Tell their story well
Brand consistency
Well defined offering

Mid-size firms appear to see their
brands – and their firms – in flux.
While conveying a sense of change
and flexibility can be positive, results
suggest a lack of clarity and
confidence.

/What Are the Key Drivers of
the Management Consulting
Brand?2

Thought leadership is seen as a key driver by firms of
all sizes.
BOUTIQUE
Less than 50 (n=24)
GAINING SCALE
50–1,000 (n=23)
STRADDLERS
1,001–5,000 (n=15)
BIG & BIGGER
More than 5,000 (n=14)
Strong leadership Distinct heritage Thought leadership Distinct heritage
Thought leadership Client portfolio Distinct heritage Client portfolio
Unique culture Thought leadership Unique culture Distinct position in the market
Client portfolio Strong leadership Distinct position in the market Thought leadership
Distinct position in the market Unique culture Proprietary methodology Strong leadership
‘Star' consultants Distinct position in the market Client portfolio Unique culture
Proprietary methodology Proprietary methodology ‘Star' consultants Proprietary methodology
Distinct heritage Corporate website Strong leadership ‘Star' consultants
Corporate website ‘Star' consultants Corporate website Corporate website
How strongly would you agree that the following elements shape your firm’s brand?

Heritage grows in importance with firm size ...
BOUTIQUE
Less than 50 (n=24)
GAINING SCALE
50–1,000 (n=23)
STRADDLERS
1,001–5,000 (n=15)
BIG & BIGGER

...as does distinct position in the market.
BOUTIQUE
Less than 50 (n=24)
GAINING SCALE
50–1,000 (n=23)
STRADDLERS
1,001–5,000 (n=15)
BIG & BIGGER
Unique culture Thought leadership Unique culture
Distinct position in the
market
Client portfolio Strong leadership
market
Thought leadership
market
Unique culture Proprietary methodology Strong leadership
‘Star' consultants
market
Client portfolio Unique culture
How strongly would you agree that the following elements shape your firm's brand?

But strong leadership, as a brand driver, declines as
firms grow in size.
BOUTIQUE
Less than 50 (n=24)
GAINING SCALE
50–1,000 (n=23)
STRADDLERS
1,001–5,000 (n=15)
BIG & BIGGER
How strongly would you agree that the following elements shape your firm's brand?

As firms grow, the importance of
leadership in driving brand
diminishes. The key is identifying
what should take its place.

/In Consulting,
Do “Partners” = “Brand?”3

At smaller firms, founding partners are still actively involved.
Are your founding partners still present and actively involved in your company?
N=43
YES / 80%
NO / 20%
YES / 88%
NO / 12%
BOUTIQUE
Less than 50
GAINING SCALE
50–1,000

As firms grow, partner reputation evolves from a driver
of new business to a driver of relationships.
How important of a role do you think the reputation of a firm’s partners play in the following
areas: (n=78)

Not surprisingly, small firms fear a partner’s departure the
most.
If the founding partners were to leave your firm, how much business do you estimate your firm
would lose?
45%
88%
55%
12%
Less than 50
50-1000
N=43
Less than 50% More than 50%

As firms grow, the importance of the firm’s reputation begins
to trump the reputation of its leadership.
Would you say that the public perception of your firm is driven more by the reputation of the
leadership or the reputation of the company itself?
0
10
20
30
40
50
60
70
80
Driven more by reputation company Driven more by reputation of leadership
BOUTIQUE
Less than 50
GAINING SCALE
50–1,000
STRADDLERS
1,001–5,000
BIG & BIGGER
More than 5,000

Smaller firms are more dependent on
the reputation of their founding
partners. Given the risks,
establishing a strong point of
difference more broadly is a vital
step toward sustainable growth.

/Do Mid-Size Firms Have an
Identity Problem?4

Firms of all sizes are generally lukewarm about their brands.
In your opinion how strong of a brand do you think your firm has?
0%
0%
3%
1%
4%
8%
16%
24%
21%
11%
13%
Extremely Weak
1
2
3
4
5
6
7
8
9
Extremely Strong
Weak
Moderate
Strong

The mid-tier is particularly unenthusiastic.
How strong a brand do you think your firm has? N=78
38%
22%
53%
14%
46%
57%
33%
36%
17%
22%
13%
50%
Less than 50
50 to 1000
1001 to 5000
Over 5000
Strong Brand
Moderate
Weak Brand

The middle’s lack of enthusiasm runs the gamut.
How strongly do you agree with the following statements about your firm’s brand?
5
5.5
6
6.5
7
7.5
8
8.5
Represents a unique
ID and point of
differentiation
Embodies a distinct
value system
Defines a clear
vision of what we
stand for
Is strongly
embedded within our
culture
Is clearly
communicated
through our
marketing
Is consistently
carried out through
the products /
services we offer
Is easily understood
by those outside of
our organizaiton
BOUTIQUE
Less than 50
GAINING SCALE
50–1,000
STRADDLERS
1,001–5,000
BIG & BIGGER
More than 5,000

Mid-sized firms experience greater disagreement around
brand drivers.
How strongly would you agree that the following elements shape your firm's brand? (ranked)
BOUTIQUE
Less than 50 (n=24)
GAINING SCALE
50–1,000 (n=23)
STRADDLERS
1,001–5,000 (n=15)
BIG & BIGGER
Strong leadership 1.53 Distinct heritage 1.62 Thought leadership 2.13 Distinct heritage 1.88
Thought leadership 1.82 Client portfolio 2.13 Distinct heritage 2.57 Client portfolio 1.31
Unique culture 2.08 Thought leadership 2.25 Unique culture 2.61
market
1.63
Client portfolio 1.53 Strong leadership 2.20
market
2.67 Thought leadership 2.51
market
2.25 Unique culture 2.44 Proprietary methodology 2.70 Strong leadership 2.17
‘Star' consultants 2.19
market
2.05 Client portfolio 2.69 Unique culture 1.98
Proprietary methodology 2.86 Proprietary methodology 2.62 ‘Star' consultants 2.69 Proprietary methodology 2.05
Distinct heritage 2.52 Corporate website 2.01 Strong leadership 2.83 ‘Star' consultants 2.79
Corporate website 2.37 ‘Star' consultants 2.47 Corporate website 2.69 Corporate website 2.37
Strong agreement (low standard deviation) Weak agreement (high standard deviation)

Mid-size firms have an identity issue.
Perhaps it’s because they’ve grown
as a collection of practice areas, or
through acquisitions. They aren’t
small enough to be boutiques or
large enough to be global, full-
service leaders.

/What Is the Perceived
Importance of Marketing in
Management Consulting?5

Brand behavior – rather than formal marketing – is seen as
most effective.
How effectively does your firm express its brand: (Top 2 box)
23.00%
20.50%
40.00%
Internally
Externally - through marketing
Externally - through product/service delivery

Mid-tier feel their brand is expressed the least effectively,
especially through marketing.
How effectively does your firm express its brand?
7.28
6.76
8.04
6.66
7.08
7.7
6.2
5.73
6.6
7.78
6.14
7.9
Internal
External - through marketing
External - through product / service delivery
BOUTIQUE
Less than 50
GAINING SCALE
50–1,000
STRADDLERS
1,001–5,000
BIG & BIGGER
More than 5,000

Marketing professionals are less positive about the impact of
brand than others in the firm!
How important of a role do you think the brand of your company plays in the following areas:
6
6.5
7
7.5
8
8.5
9
Attracting new business Engaging clients Building long-term
relationships
Attracting talent
Non-marketing executives Marketing executives

Marketing respondents focused on attributes that are more
outwardly focused.
Marketing
Collaborative
Client-focused
Results-oriented
Corporate Strategy
Trustworthy
Thoughtful
Professional
What three adjectives would you use to describe your firm?

Marketing believes in the power of thought leadership;
corporate strategy in the power of leadership.
Marketing (n=21) Corporate Strategy (n=20)
Thought leadership Strong leadership
Distinct heritage Distinct position in the market
Client portfolio Client portfolio
Unique culture Unique culture
Distinct position in the market Distinct heritage
Strong leadership Thought leadership
Corporate website Proprietary methodology
Proprietary methodology “Star” consultants
“Star” consultants Corporate website

The power of brand is understood
beyond the marketing department.
This is an opportunity to step up and
own the role – and importance – of
you firm’s brand.

/How Are Firms Deploying
Their Brands?6

Most marketing respondents put their budgets at 2-5% of
firm revenues.
How much of its overall budget does your firm allocate to marketing?
23.08%
57.69%
15.38%
4.00%
Less than 2%
2% - 5%
5% - 10%
10% - 15%
N=26 (marketers)

Tradeshows and PR account for almost half.
What percentage of your marketing budget is allocated to the following areas?
27.04
17.04
16.54
8.65
7.19
6.31
2.35
24.88
Tradeshows and corp events
PR
Sponsorships
SEM
Social media
Online advertising
Offline advertising
Other

Websites rule, inside and out. But what about mobile media?
How effective are the following channels in deploying your brand?
6.81
6.62
6.52
6.19
5.62
5.14
5.1
4.81
3.38
Your firm's website
Internal events
Email
Intranet/employee portal
social media
Virtual events
environmental branding
Print collateral
Mobile media
Internal
7.1
6.95
6.29
6.14
6.1
5.9
5.86
5.71
5.62
5.43
4.05
3.48
3.43
1.95
Your firm's website
Email
Digital publications
Branded events
Social media
Print collateral
SEO
Tradeshows/events
Print publications
Virtual events
Direct mail
PPC
Mobile media
Radio
External

Tradeshows are the biggest budget item – but they’re not
seen as most effective in deploying the brand.
7.1
6.95
6.29
6.14
6.1
5.9
5.86
5.71
5.62
5.43
4.05
3.48
3.43
1.95
Your firm's website
Email
Digital publications
Branded events
Social media
Print collateral
SEO
Tradeshows/events
Print publications
Virtual events
Direct mail
PPC
Mobile media
Radio
External
27.04
17.04
16.54
8.65
7.19
6.31
2.35
Tradeshows and corp events
PR
Sponsorships
SEM
Social media
Online advertising
Offline advertising
Marketing budget allocation

In a digital world, a firm’s websites is
the hub of its digital brand
experience. But tradeshows and
events are still the #1 budget item.
Does in-person engagement still
deliver the highest return?

Mid-sized firms need to define themselves.
 A constant squeeze:
 Mid-size firms have more resources, breadth and capabilities than small firms, yet less focus
and specialization …
 but they lack the presence and scale the large firms.
 Caught between small firms – typically built around a focused strength
– and large firms – guided by heritage, mid-size firms see themselves
– and their brands – in a constant state of evolution.
Implication:
Branding around a strong, unified culture may be the mid-size firm’s
best opportunity to create differentiation from larger firms.

Your brand walks out the door every day.
 As a group, you feel you communicate your brand more effectively
through behavior than through formal marketing efforts or internal
engagement.
 This represents an opportunity to capture and codify the essence of
your brand as it is expressed by your people and the services they
deliver.
Implications:
 Rethink proposals, pitch books and thought leadership – do they
reflect the brand that your people are living?
 Demonstrate “behavior” in marketing by focusing on how your
brand is embodied in your people and services: let the market “hear”
your people, see them at work, engage with their perspectives.

Find out what drives your brand.
Where are you on the partner-firm spectrum?
 Do the reputations of your partners drive your brand? Or is it the
reputation of the firm itself?
 Where do you want to be on the spectrum? Will a partner-driven
brand scale with your firm’s growth?
 How can you build thought capital into a brand without tying the
brand too closely to any individual or group?
Implication:
Look to internal and external research to determine the core drivers
or your brand.

See more study results at:
BIGMgmtConsulting.com

What Is the Role of Brand in Management Consulting? Research Highlights from Industry Study

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