When clients are choosing a firm to work with, expertise is always high on their wish list. Indeed, 96% of them say they use external support specifically to access deep, specialist expertise. But expertise comes in a number of guises: knowledge of a client’s business, of particular subject matter, or of the sector itself, and while all three play an important role, our data shows that it’s sector expertise that clients say is most valuable to them.

And in our conversations with clients, we hear the same thing too. Business leaders tell us that they’ll need to be convinced a firm has the required subject matter expertise before they’ll invite them in to pitch for a project. However, once there, they’re much more likely to buy from them if they also demonstrate sector expertise.

Getting your foot in the door

But, taking a step back for a moment, what are those subjects in which demonstrating expertise will get you in front of a client in the first place? There are no prizes for guessing that technology features highly, with technology implementation at position number one—as we’ve pointed out in several recent updates, clients tell us that this year is about getting stuff done, hence the implementation angle. And also up there on the technology front, not far behind in third and forth place, are exploiting AI and technology strategy.

Perhaps slightly more surprising, at a time when clients remain under pressure to perform financially, is the second-most sought-after area: ESG. It seems that regulatory deadlines are encouraging businesses to reach out for support, to ensure they can comply and so avoid sanctions and reputational damage.

So why are clients reaching out for external support in these areas, rather than using their own internal resources? It’s for the simple reason that these skills are some of those that they find hardest to recruit. Cybersecurity, emerging technologies, and ESG expertise are all in short supply.

Clients are also struggling to attract the right talent in another way. They tell us that it’s especially difficult to recruit people with the right expertise paired with great management skills. They need people who are technically strong but can also empower their teams to deliver results. (Another nod to getting stuff done in 2024, and another reason that consultants are set to pick up work).

Where are firms going wrong?

A final word of caution about expertise: firms must deliver on their promises. One of the most frequent complaints we hear is that firms wheel out their best people to sell work but then those individuals are rarely seen again. If clients are buying services to access expertise then they want to see it deployed. Worryingly, 84% of clients say they frequently ask for a firm to change the people on a project because they don’t have the required expertise, and, even more alarming, 40% say they request a change on nearly all projects. This inevitably leaves a poor lasting impression, with 80% of clients saying it is disruptive and 39% that it actually puts their project at risk.

In the end, while it may be your familiar face and subject-matter expertise that gets you in the door, it’s sector expertise that will differentiate you from your competitors and seal the deal. And if you want to be asked back again, then you’d better make sure that expertise is evident throughout the engagement.

Emma Carroll, Head of Content, Source.

If you would like to explore more of the data we have on what clients want from firms and the part that expertise plays, then please get in touch.