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Small businesses are more likely to work in unique market niches, and as such, are more likely to require more specific consulting support. Rather than needing standard marketing consultancy, a small business may require help with advertising in their own niche; or, rather than tapping a blueprint finance change approach, they may benefit from a more tailored offering. And there is an increasing number of consultancy firms that are aligning to such demands.
But it is not only small businesses gaps that are pushing the growth of niche consultancy – larger organisations have a role to play as well. Many enterprise-level organisations are choosing to take a more specific approach to their consultancy, and working with specialist consultants on a broader range of activities.
For example, businesses could be looking to improve and work on their customer service, and establish a better customer experience. Bringing in consultants with specific experience in enhancing the way that organisations treat their customers can be one of the most effective ways to do this, and may not be easily achieved with a more generalist consultancy firm.
Additionally, while in the past an organisation might have worked with a general digital consultancy, the increasing sophistication of the marketplace means that it is necessary to work with specialists in specific fields. The digital transformation landscape is huge, and requires a wide variety of areas of expertise, such as creative skills, design thinking, deep technology capabilities, and digital project management to combine for a successful proposition. Breaking activities down into specific niche areas is an increasingly common tactic used by clients as part of their quality control endeavors.
Niche consultancies are therefore rising at a high rate globally and can be more effective as they may be able to get to the bottom of a problem that has its roots in the industry itself – something that larger and less specific consultants could miss. Secondly, partners of smaller consultancies tend to operate more agilely, providing clients with a quicker and more direct line of reporting. Third, smaller consulting firms can, on the back of their customer intimacy, be more flexible in their pricing and risk-sharing models.
Article adapted from consulting.us
