Elevation Insights – April 2025

Business Development (BD) is often misunderstood. In many organisations, it’s reduced to lead generation, sales targets, or a separate “function” distinct from the core work of consulting. But in today’s complex, competitive environment, BD has evolved. It’s no longer just a numbers game – it’s a strategic capability, essential to sustainable growth.

In consulting, where value is created through insight and trusted relationships, BD begins long before any proposal is submitted. It starts with clarity – about who you serve, what you offer, and where you create real commercial value. It’s about listening carefully, diagnosing intelligently, and positioning your capabilities in a way that solves the right problems for the right clients.

Recent research reinforces this shift in thinking. According to Hinge Marketing’s 2024 High Growth Study, consulting firms experiencing the fastest growth are not necessarily those spending more on marketing. Instead, they are sharply focused – using tools like LinkedIn to build credibility and relationships, and investing in high-quality business development materials that communicate a consistent, compelling value proposition. This reflects a broader trend: it’s not about how much noise you make, but how clearly and confidently you speak to your target market.

In fact, Consulting Success’s 2024 study, based on insights from over 50,000 consultants, found that the most effective BD strategies emphasise direct outreach, thoughtful networking, and marketing investment that is tightly aligned to commercial priorities. This kind of strategic alignment – between marketing, sales, and delivery – separates firms that grow by design from those that grow by chance.

The picture is further complicated by changing buyer behaviour. As highlighted by Sales Focus Advisory, 96% of prospects conduct research before engaging with a sales representative, and 71% prefer self-guided exploration over direct interaction. Additionally, the average sales win rate has declined to 21%, and the typical deal now involves five decision-makers. Traditional tactics, like webinars, are delivering diminishing returns, and firms are being pushed to better integrate their sales and marketing efforts. For consultants, this means moving beyond one-size-fits-all outreach and towards tailored engagement that reflects each client’s context, challenges, and ambitions.

As BCG’s latest insights suggest, digital personalisation is reshaping how firms connect with clients. Consulting organisations that personalise outreach, content, and client experiences are seeing better traction – not because they’re louder, but because they’re more relevant.

Yet perhaps the biggest shift in BD is cultural. In too many businesses, BD is still seen as something separate – a task for a few, rather than a mindset for all. But the most successful consulting firms embed business development into everything they do. It’s led by key individuals and supported by everyone. From delivery teams identifying new opportunities in existing accounts, to marketing shaping narratives that resonate with target sectors, BD becomes most powerful when it’s collective.

Just like with Business Intelligence, it all starts with the right questions. Who are we really trying to help? What problems are we best placed to solve? Where do we deliver the greatest impact?

At Elevation Learning, we view Business Development as a mindset that permeates every aspect of consulting. In our recent Elevation Learning Spotlight, Principal Consultant Clint Evans shared his unique approach to BD, emphasising the importance of creativity and authentic connection. Drawing from his background in creative writing and scriptwriting, Clint approaches stakeholder engagement by identifying character archetypes, allowing him to tailor solutions that resonate deeply with clients’ unique challenges.

This creative lens enables consultants to move beyond transactional interactions, fostering meaningful relationships that drive long-term success. Clint’s perspective underscores the value of integrating personal passions and experiences into professional practice, encouraging consultants to leverage their unique strengths to differentiate themselves in the market.

Our Business Development & Selling programmes are designed to cultivate this mindset, moving beyond traditional tools and techniques. We focus on developing consultants’ abilities to build genuine connections, understand client needs deeply, and craft compelling narratives that drive action – empowering them to approach BD with confidence and creativity. Great BD doesn’t feel like selling. It feels like understanding. And that’s what clients are really looking for!