Only if you’re prepared to play the long game.
Leads:
As a niche consultancy that specialises in high-value consultancy with a long sales cycle that requires multiple contact points with the client, the chances of pay-per-click advertising generating leads that develop into new business will be rare. Hence you will need to budget for a long period of displaying your ads before any return is likely.
Establishing Credibility:
Your potential clients are going to be researching consultancy companies who may be able to help them with their issues and, while pay-per-click advertising guarantees to put your name in front of them, their issues are not likely to require a “quick fix” (which is what pay-per-click is most effective at delivering). Consequently, most potential clients will be looking for additional supporting information that establishes your credibility as a supplier of consultancy services. This credibility is better established through your excellent case studies as well as by publishing articles in journals and on online information websites. Always get your website mentioned in everything you publish – a credible website is essential to completing the marketing collateral for your company and establishing credibility. Your website then acts as a sales influencer either as a second-line tool after you may have had a meeting with a potential client, or as an influencer in concert with an article they have read.
Brand Awareness:
On the flip side, paying for advertising is a good way of increasing brand recognition which itself creates an indirect influence on buying habits, so a pay-per-click campaign may be good for your brand development in the long-run but I wouldn’t expect to look for direct sales as a result.