Conference

Business Development and Data Analytics for the professional services marketer

Data analytics is a topic that should be at the top of every M&BD leader’s mind and agenda but making the most of the intelligence on hand is easier said than done.

Big Data has revolutionised nearly every industry and has given its’ business leaders unprecedented access to the most in-depth information including that of its clients. Such data can only improve business development efforts provided we know how to gather it appropriately and put it into action in a meaningful way.

Big data is more than just a trend, it can be truly innovative and when used correctly it can help us develop strategies, practices and products which will lead to?a growth in business.

If we gather more valuable in-depth insights, we will be in a much better position to make informed decisions on how to support existing clients and the targeting of new business. It will also help our efforts to support efficiencies within our own firms.

Organisations that treat data as exclusive property and do not share it across the board are missing out on a huge opportunity to generate revenue, create efficiencies and develop products.

Capturing the potential of data analytics, therefore, requires the solid building blocks of any good strategic transformation. It has to start with the clearest of plans, it should be seen as critical to the success of the business and become a core business plan.?

Driving the use of analytics should also be seen as a critical business objective, adopted at the highest level, and rolled out across the whole organisation. It should not sit solely with an analytics team.

Our purpose, therefore, should be to transform the data into insights that can support, prompt and drive actions, which will lead to better decision-making in the businesses that we support.

If we unlock more value from our own data whilst taking advantage of the enormous volume of externally sourced data that is readily available, the rewards will follow.

But good data is more important than big data so are you capturing and sharing the data that matters and using it to answer the questions that make a difference?

“The future is still so much bigger than the past. Data is a precious thing and will last longer than the systems themselves”.  

Tim Berners-Lee

The Environmental, Social and Governance Movement

An Opportunity AND an obligation

What does it mean for professional services providers?

And what does it mean for Marketing and Business Development Professionals?

Environmental, social and governance (ESG) issues should be top concerns of all corporate management and boards.

There was a time when a public stance on ESG issues was a public relations tactic. However, in today's rapidly changing business climate, attention to ESG issues is becoming critical to long-term competitive success.

In this new environment all company performance is being assessed through an ESG lens and professional services firms are not immune to this.

Evidence shows that properly integrated ESG policies widen a firm’s competitive reach compared to other industry players. Those who take steps to improve labour conditions, enhance the diversity of their teams, invest in their communities, and adopt sustainable environmental practices and policies will strengthen their brand and their client offering.

Organisations that recognize the importance of adapting to changing socio-economic and environmental conditions are better able to identify strategic opportunities and meet competitive challenges.

We must, therefore, reconnect company success with societal progress. Shared value is not social responsibility or even sustainability. It is a new way to achieve economic success. It is not on the outer edge of what we do but rather at the centre.

Those who are truly committed to executing ESG policies, practices and programmes ensure ESG is a senior management priority of the CEO and general counsel, and increasingly tie compensation to ESG metrics.

They voluntarily report ESG goals, and progress towards meeting them, to all stakeholders via the annual CEO letter, annual reports, internal corporate communications, and/or annual sustainability reports.

Increasingly they are demanding their suppliers and vendors – including their professional advisors, act in the same way.

“Corporate social responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it… because it is good for our business”

Niall Fitzgerald, former CEO, Unilever