Boutique consulting firms make most of their revenue from a single service.
But that core service gets only a tiny share of their messaging.
You know why?
Because they fear losing out.
“What if somebody is looking for our other offers?”
“What if we miss an opportunity?”
So they list 10 services on their websites.
Their content talks about 10 different value points related to different services.
They hedge.
But this ‘just in case’ messaging kills sales.
Warren Buffett has a quote I like:
“Diversification makes little sense if you know what you are doing. Why would you invest in your seventh-best idea?”
I agree.
Why would you diversify your messaging to talk about your fifth-best service that brings in 3% of your revenue?
The more services you add, the less effective your message gets.
Plus, different services require different messaging.
Let’s say a firm offers both cybersecurity and IT automation services.
Cybersecurity is about risk management.
You have to talk about client problems related to risk and why they should take it seriously.
But automation is about efficiency.
It’s a different concept.
You have to talk about client problems related to how inefficiency costs them time and money.
Mixing both in your messaging dilutes the value.
Prospects get confused about where to put your firm in their minds:
Is it about cost saving?
Or is it about reducing risk?
So it becomes impossible to be known for a single thing.
Now, this doesn’t mean that you should only have one service.
If you prefer, offer more services to your existing clients.
They already know you.
You have a direct relationship.
Yes, it would complicate your operations and reduce your margins.
But that’s an operational decision.
For marketing, prioritize the core.
Have a focused message.
That way, every step of your funnel starts converting better.
Marketing spend goes behind what generates the most return.
Use these questions to find what to focus on:
- Which service brings in the most revenue with high margins?
- Is there any service that acts as an entry point to that core service? E.g., An audit (entry) > ongoing monitoring (core). Are they related to the same client problems and outcomes?
- What are the services you offer ‘just in case’ but don’t bring in any significant revenue from new clients? What are the client problems, outcomes, and ideology points related to those services you can remove from your messaging?
So the next time you’re tempted to add one more service, think twice.
The fear of losing out on revenue is an illusion.
The real revenue loss comes if you dilute your value.
You lose clarity.
You lose your difference.
Focus your messaging on your core service.
That’s the only way to stand out in this cluttered market.
That’s the only way to own a space.
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