Management Consulting (again):

MarketingKelsie Flanigan, Xinlin Li, Ryan Riccordella & Connor Spencer

Executive Overview

So what’s the difference?

M.S. Commerce students should consider careers as marketing consultants.Hypothesis

Agenda 1. Aspirations

2. Assets

3. Market Realities

4. Risk/Mitigation

5. Next Steps

6. Conclusion

Aspirations Where you might like to go in the future.

Source: The Startup of YOU

Marketing consultants receive competitive compensation…

Source: Payscale.com; Time.com/Money

C/O 2014 Median Income

$45,478Entry-Level Marketing Consultant Median

Income $50,197

Welcome to your new office…

“Marketing at its core is about telling a story…”

-Caroline Kim Oh, Former Brand Strategy Consultant at Prophet

Exit Opportunities: You’ve got options…

In addition to these career paths, 23% of marketing consultants go on to become self-employed.

Graphic: Payscale.comSource: Vault.com

If you get excited about…

VarietyUsing storytelling to communicate quantitative insights

Working with and assisting other people

…you may find a career in marketing consulting rewarding

Source: Vault.com; Caroline Kim Oh

AssetsWe’ve got the goods.

Marketing requires both analytical and creative thinking.

Consulting requires you to be able to collect data, extract insights, frame the insights to solve a problem, create a story and the presence and communication skills to influence/persuade.

Marketing Consulting requires the combination of these skills, often in environments with imperfect information, political tension and a significant amount of ambiguity.

-Brad White, Prophet

Communication

Approach

Execution

• Interpersonal Skills• Listening • Flexibility

• Creativity• Curiosity• Knowledge

• Problem Solving• Analytical Skills• Research

…a very particular set of skills…

Engineering Linear

Marketing

Complex/Nonlinear

Marketing Consulting

Analytical approach Holistic perspective

This makes marketing consulting, in many ways, more of a challenge.

-Brad White

Market Realities Opportunity awaits.

Throwing it back to 2013…“Over the next 12 months, 82 percent of the U.S. clients surveyed …say they won’t cut the amount they spend on outside help. And nearly half, 42 percent, plan to bring in even more consultants…

….The U.S. market for management consulting grew 8.5 percent last year, to $39.3 billion. The fastest-growing areas: marketing and sales (25.6 percent), operational improvement (11.3 percent), and technology (10.1 percent).”

Source: BloomburgBusiness

11%Source: CNNMoney; Bureau of Labor Statistics

32% 11%Source: CNNMoney; Bureau of Labor Statistics

32% > 11%Source: CNNMoney; Bureau of Labor Statistics

Risks & Mitigation Don’t worry…be happy.

Markets are always changing!

Social Media Trends

Digital Development

Customer Research

Long-term View

Plan A, B, Z

The Five Keys to Risk Mitigation…

Source: Leslie Parker

Advancement is not always linear.

Some clients demand more flexibility than you’re comfortable with.

YES, WE CAN.

Next Steps What now?

Preparation

• Network! Network! Network!

• Brush up on those case interview skills (yay.)

• Get your story down

• Do your research

• Take advantage on McIntire’s resources

Recruiting Vault’s Top Consulting Firms Boutique

McKinsey Prophet

Bain & Co. MarketBridge

BCG FullSurge

Deloitte Kelton Global

PWC Simon-Kucher & Partners

Source: Vault

Recruiting Vault’s Top Consulting Firms Boutique

McKinsey Prophet

Bain & Co. MarketBridge

BCG FullSurge

Deloitte Kelton Global

PWC Simon-Kucher & Partners

Source: Vault

ConclusionTying it all together.

Fin. Questions?

Image Credits United/American: https://www.flickr.com/photos/52810288@N05/8547401068Airplane: http://www.dl.mehrad-co.com/src/Gallery/PritablePhoto/Photo/Airplane/Airplane-09-www.mehrad-co.com(L). jpgStorytelling: http://dzftds8z9s83c.cloudfront.net/wordpress_images/images/production/2854/show/start-a-presentation-071114.jpg?1405083428Desert Sign: http://modernwanderlust.s3.amazonaws.com/posts/Valley%20of%20Fire/20120829%20squiggles.jpgCareer Ladder: http://i.huffpost.com/gen/1580297/thumbs/o-CORPORATE-LADDER-facebook.jpgGymnast: http://cache1.asset-cache.net/gc/107157645-gymnast-bending-backwards-on-trophy gettyimages.jpg?v=1&c=IWSAsset&k=2&d=6OIEWfcRNRiidRdBqX89LeXag4cS2z6WqtmWQLXe5i4%3d