The first rule of selling data services – you do not talk about data services

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If you want to attract more clients to your data consulting firm, it pays to focus on your ideal client's perceived wants instead of what they?actually?need.

When you get your clients wants vs needs reversed (by pitching your commodity data services), you reduce your sales pipeline to a trickle and waste valuable time with prospects that never convert.

The nurture myth

Many years before launching myDataBrand, I worked with a large consulting firm with a proposition around data migration/data quality, particularly within the telecoms space.

We would rock up and try to sell data quality.

But no one cared.

When this happens, the conventional wisdom is to 'nurture' the audience through educational marketing, webinars and guides – until that moment when they 'get it' and become 'problem aware'.

The thinking is, once they become problem aware, you then nurture them some more until they become solution aware.

You then nurture until they become selection aware (i.e. actively searching for a solution partner).

But clearly, all this nurturing takes the one thing your data consultancy can't afford.

Time.

When I was helping to sell data governance software, the lead times for companies actively considering a data governance tool could be anywhere from 6-18 months.

(And that's for a company that is problem aware, solution aware, and well on their way to selection aware!)

So, if you're a DG advisory firm trying to pitch into a target account that is screwing up their data initiatives (because they lack the DG juice you offer) - you would need to:

• Educate them on what DG is and why it matters
• Convince them you're the best option
• Build a case for sponsors to get funding
• etc...

Once again, that takes?time.

(Sidenote: This is why in the myDataBrand Accelerator Program, we help data firms double-down on the mid and bottom of the sales funnel with their content strategy, where the prospects are solution/selection aware and the need is greatest.

This is in contrast to a lot of perceived wisdom which is to first educate those at the top of the funnel – trust me, that's not a smart idea.

We get our data consultancies to feed the starving crowd first so your deals move faster).

Case story: The data quality fight club

In my telecoms example, we solved this 'How the hell do we sell DQ?' problem by?not selling data quality.

Instead, we sold:

• 'Systems rationalisation?to a 21st Century Network' (i.e. migration, which had a massive DQ/Data Discovery element)
• Stranded Asset Recovery?- a billion dollar problem in telco, which is driven by reconciliation gaps between operational systems (i.e. a huge DQ problem).
• TruckRoll OpEx Reduction?- Identifying wastage in the value chain that would cause lost engineering hours due to crappy data. This results in more extended engineering visits and frequent returns to base to collect equipment and parts that the maintenance or provisioning systems should have included in the original work order.

In every instance, the client?WANTED?the outcome (i.e. the telco operational gains), but we secretly knew they?NEEDED?data quality as a huge part of each solution.

Do you see the difference?

This is why it's critical to understand the distinction between?wants and needs?within your ideal client profiles.

What's the impact of selling commodity (data) services?

If all you've got is a data narrative...

?i.e. "we build data stuff; how many data bodies do you need?"?

...you dramatically increase the odds of being shunted over to conversations with IT or the internal data function.?

Note: You may say to yourself things like 'we really want to attract business leaders and stay away from data/IT teams' –?but if your service offerings scream 'we're a bunch of data professionals' – there's no surprises where you'll most often end up being pushed.

In this situation, there are several consulting 'marriage' outcomes:

Outcome #1: They've already got a consulting 'spouse', and they're happy:

"Thanks, but no thanks – we already have an incumbent data solutions partner, and they keep us satisfied with all our varied data demands".

Outcome #2: They fancy a fling with a new partner, but you're a failure in the money department:

"We like you, seriously we do, but you're 50% more expensive than the other <INSERT systems integrator beauty parade> vendor we typically deal with.?

Can you change??

I?really?need you to change to make your proposal work for me".

Outcome #3: They're excited by your magnetic attraction. You're back in the game:

"You know something, you have some unique qualities those other guys don't have.?

You make me feel special. You understand me.

I'm getting that funny feeling – you might be the one.?

But let's take it steady first, perhaps start with a short data analytics pilot or PoC because I've been hurt by firms like you before.

But first, can you sign this prenup?"

---

The perils of the generic dating circuit

I've learned from painful experience that when you sell generic data services to generic audiences, you'll be spending a lot of time chasing potential partners that string you along but don't commit.

If you're only pitching the 'we do data stuff really well' narrative, your chances of marriage begin to drop sharply compared to those firms with a finely-whittled, spear-like proposition that sells on the outcome, not the data.

Unless, of course, you settle for any client with a pulse.

In which case, there's a possibility you'll wake up each day thinking –?how the hell did we end up in this car crash of a (commercial) relationship?

How do you make the switch from data-centric to business-centric offers?

I take 2-3 calls a day from data consultancy founders who are not attracting the clients they deserve because they're pitching data services to business leaders who just don't care.

And in the majority of cases, it's because they've positioned their primary offer around what the consultancy does

e.g. We're a New York based firm of data experts that do cool stuff with data analytics for lots of different sectors.

This is in contrast to what the client actually gets...

e.g. We help you dramatically reduce call-centre complaint volume and deliver industry-leading customer satisfaction ratings.

Customer service directors don't give a crapola about Power BI, machine learning, data quality improvement, profiling and data lineage management.

Yes, it's the stuff they?need, but it's not a perceived?want.

Why? Because data just isn't?their?language.

Business folks are in the 'business bubble' talking KPIs, performance targets, LTV, CAPEX, OPEX, ROAS, RAR – while so many data experts are over in the 'data bubble' talking about TOGAF, DMBOK 2.0 and the 6 Dimensions of Data Quality.

However, if you tell them you custom-build

"...an automated billing 'defect detector' that reduces complaints by 50%, combined with a call-centre capacity optimiser that reduces call waiting times by 35%..."

–?now you've got their attention.

You're delivering the exact same data quality tool platform, with Power BI and Azure stack for the analytics, but the outcome is 100% pure business juice.

Selling Value Propositions, instead of 'bums-on-seats'

Each month, I work with a small group of expert data consultancies in the myDataBrand Accelerator Program.?

Our first step is to stress-test your service portfolio to identify which 'horse to back' when it comes to your primary offer.

The typical consultancy can build a million-dollar pipeline with one primary offer; it's a question of finding the most attractive proposition, then increasing lead volume and delivery capacity over time.

We do this using low-cost content marketing first (that I help them create and execute), then we can explore other options once the offer converts.

If your consultancy isn't scaling, it's likely because you're selling commodity data services at commodity pricing.?

You're effectively in the arbitrage business.?

e.g. your consultants cost ￡500 per day, but you charge them out at ￡750, for example.

So if you want to scale the business, you need more consultants – which is one of the biggest headaches most consultancy founders face.?

Experienced data consultants are hard to find, take years to train and churn frequently.?

Don't believe me? Here's a chat with Mark Dexter last week

Mark is the CEO of KDR Talent Solutions Group .

His firms help build data, tech and analytics teams for software vendors, consultancies and end users across the UK, Europe and USA – it's safe to say he has the pulse of the industry better than most.

What's more, salary expectations are increasing because those professionals you need to scale a commodity data services business are suddenly in great demand.

(Ironically, you'll also be competing for talent with the same clients you're trying to sell into – awkward).

And because even more data firms are getting into the game, your margins are constantly squeezed in one direction – towards zero.

But it gets worse.

Scaling these consulting units requires additional office space, HR, legal support, compliance, indemnities – the costs soon stack up.

And that 'fun and funky' data startup you dreamed of looks more and more like a wistful fantasy.

Let's consider an alternative model...

Instead of selling bodies, look at your most successful projects and build a proposition around the?outcome you deliver for:

• Solving a specific?problem
• That inflicts a specific?business sector
• Which resonates deeply with a specific?buyer champion

When I do this with clients, the entire blueprint for doubling revenues looks a little like this...

1. Sharpen up the messaging and packaging of your solution
2. Build a simple lead generation pathway that scales
3. Drive leads into a conversation using expert content
4. Increase the value (and fees) of your commercial offer (because it's targeted and outcome focused)
5. Deliver an incredible experience and the outcome expected
6. READ THIS: Provide additional upsell options to increase LTV – it's the 'would you like fries with that' upsell - eg. ("...so now you've got our AI-driven regional sales forecasting dashboard – would you like us to monitor data quality remotely so you never make a mistake presenting figures in your monthly steering committee?")

When you deliver clear outcomes, conversion rates dramatically increase because the client understands in a nutshell what they can expect to receive and how it will impact them personally.

They'll justify for the good of the business, but deep down, your super-targeted offer is going to increase their status and make them look a rock-star.

(Because you cut out all that data babble that leaves them confused).

If you're confident in your team's ability, you can even build revenue-sharing models that increase returns and give your clients that warm fuzzy feeling 'you're the one' and finally going to deliver.

Consider this...

To achieve a million-dollar revenue on just one targeted offer requires you to convert two clients per month at an average order value of $42K, and that's before you've bolted on any solution ladders for further value-added services that increase client lifetime value (LTV) even higher.

Side note: If your market can't bear those fees, find a different market. I once sold a six-figure data quality assessment (under a business-focused name). That's well over a 100K just for data profiling, we didn't even build a system.

Bonus tip: The demand for digital innovation is rocketing. If you can find ways to inject better value than your competitors (other than slashing costs) you'll stand out and command a premium. For example, clients crave faster delivery – that's one area you can focus on.

However, most firms reject this specialised approach because they want to create a wider net and remain open to anything that comes along.

Additionally, some founders complain about specialisation because they secretly enjoy doing the DG/DQ/ETL/EAI/BPM/TOGAF/DMBOK stuff – so creating a finely-tuned proposition feels like an existential threat.

In reality, most of the non-specialised work you take on will come via referrals or repeat clients that never study your website or latest content anyway. They worked with you years ago and are oblivious to your marketing collateral.

Having a clearly defined ideal client profile and 'magnetic offer' that resonates with their?exact?pain is the fast-track to revenue growth?without?building a big team of (increasinngly expensive) consultants.

You can finally break out of the 'bums on seats' time trap and start selling to the business based on outcomes, not bodies.

All because you shifted to wants, not needs.

Summary

Your clients pay for the destination, not the flight.

As of writing, my LinkedIn profile has the following text:

"Enabling expert data consultancy founders to execute content-driven growth systems that double revenue, free up their time and beat the competition"

See how it's so much more compelling than:

"Content marketing expert and 30-year data nerd"

Content marketing and data are elements of what I know and do, but after working closely with countless data consultancy founders, I know they want to:

• Increase their wealth
• Spend more time with their families
• Stop losing out to the competition (don't get them started on 'Big-5' firms)

–?so I expressed that outcome directly in my profile tagline.

Give your clients what they want in your marketing, sales pages, webinars, articles, podcasts and promotions.

Then focus on delivering what you know they need only once you've earned their attention.

Ready to accelerate your growth?

So now you understand the difference between wants and needs you can think about the potential options for shifting your business model into a higher income formula.

The missing link is that you need increased lead volume and sales conversations to make this happen.

No leads, no sales.?

So, you can either spend months and months figuring this out on your own, or get some help and get the foundation launched and working in under 4 weeks, backed up with a program to help your entire team master the process.

(Even those busy consultants who hate writing blogs).

If you want to explore working with me to build a three-step system that:

1. Packages your positioning and primary offer into a business-focused offering
2. Creates an inbound (content) marketing pipeline of prospects?
3. Delivers a simple (non-sleazy) pull-selling system (that works)

Then book a discovery call to learn more about the myDataBrand Accelerator Program.

The myDataBrand Accelerator is a 'done-with-you' solution that has helped many of our clients double primary offer revenue within six-twelve months and consistently attracts 4-5 qualified sales calls per week.

Book a free discovery call to learn more about the system we implement and how it creates the results your current approach may be struggling to deliver.