In this episode of Unleashed, Will Bachman interviews David A. Fields on how to work with industry associations and other types of groups to build businesses and create value. He touches on the concept of trade associations, and how we should view the trade association as a source of prospects. It's important to consider other types of associations that have a large group of prospects in their tribe, such as software platforms, data providers, headhunters, and journalists. Data providers often need the help of consulting firms to ensure their data remains relevant and useful. For example, data providers can provide information on social media trends, transportation logistics, and more. In conclusion, trade associations can be a valuable tool for firms to connect with prospects and build their business. They can also serve as visibility partners, helping firms reach out to potential clients.
David talks about connecting with visibility partners and what you can do to raise your profile through that relationship. For small firms with no specific focus, it is important to find the right group by focusing your business on a few industries and engage with associations or other providers to find potential partners. This approach makes it easier for the firm to find prospects and be more valuable to them.
David shares examples of clients who have successfully worked with data providers as visibility partners. One example is a consulting firm in Virginia that has grown from about $1 million to $15 million through targeted visibility building with data providers. The firm has done research work with the data provider to demonstrate the importance of creating value for both partners and their clients.
Connecting to a Visibility Partner
To get started with a visibility partner, David suggests reaching out, offering to meet, building relationships, and staying right-side up. For example, a consulting firm might have worked with multiple clients using data from a data provider and had a history of complaints about the data. By introducing the firm to their contacts to help the data provider improve their service, they can help address the client's concerns and also improve their visibility.
David discusses how to increase visibility by getting on a podcast. Will suggests reaching out to the host of a podcast and posting a summary on LinkedIn to tag the host. This approach is often overlooked by hosts, but it can be a great way to reach potential clients. David stresses that this is a long-term relationship building strategy, and not a quick fix.
Furthermore, he encourages people to get involved in small podcasts, new podcasts, and podcasts with only 12 listeners, as they are more likely to have a smaller audience. This can lead to better targeted discussions and better results.
David talks about the pros and cons of tapping into alumni associations for businesses. For example, Procter and Gamble's alumni network is a strong example of how alumni networks can help businesses grow.
Working an Industry Conference
For industry conferences, it is important to determine who’s going to be there, who you want to meet ahead of time, and set targets for attendees. Additionally, commit to attending the conference for three years, as it allows you to build relationships with potential clients. Will suggests using LinkedIn to create a list of attendees and send connection requests to potential attendees. This will help you connect with potential clients and build relationships with them.
When it comes to messaging a potential contact to secure a meeting, Will and David discuss possible approaches. David also mentions various methods of connecting with industry recruiters and securing visibility through content development.
David mentions his next practice accelerator, which is sold out but will be held in 2024. In summary, David emphasizes the importance of visibility partners and the need to consider the tribes they overlap with when promoting a firm. By focusing on these strategies, consulting firms can increase their visibility and attract more potential clients.
Timestamps:
03:23 Leveraging industry associations and other groups for business growth
05:27 Partnering with visibility partners for consulting firms
12:22 Partnering with data providers for visibility
19:59 Networking strategies for professionals
26:18 Networking strategies for a conference
30:57 Consulting firm visibility partners
Links:
David’s website: https://www.davidafields.com/
David’s Books: https://www.davidafields.com/books/
David’s Blog: https://www.davidafields.com/blog/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
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