A firm can shoot ahead of the competition by successful innovation or re-inventing a whole industry. However, the most common path to success is not raw innovation, but skillfully riding a wave of change. It is unrealistic to anticipate every variation in client needs, technology or regulation, but a small improvement or innovation in a number of areas can result in significant growth in revenues and profitability.
Marketers work hard to ensure that their firm is the first choice for clients and prospects. When asked about their direct contribution to the client experience, respondents to the PM Forum’s 2013 Benchmark rated themselves highly for initiatives aimed at projecting a positive impression of the firm, but less positively for activities such as account planning, client satisfaction systems and linking frontline reward to contribution.
The latter group of activities represents a big opportunity to innovate, with new ways being explored to observe and analyse client behaviour, and pre-qualify leads to squeeze more value from a firm’s footprint. Benchmark respondents saw this as requiring a special focus on: improving their capabilities in technology and analytics; innovation in the way that they perform their role; and enhanced collaboration across the firm, with clients and with other external stakeholders.
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Why members attended
Forged through collaboration across the Forum’s regional committees, this conference resonated with marketers at firms of all sizes across the professions. The aim was to provide delegates with targeted knowledge, insights and practical skills that could be implemented as soon as they get back to the office, while renewing friendships and making new contacts.
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