“A client-centric approach will never go out of style”
Gail Jaffa sat down with PwC’s Alex Liddle - and this year’s PSMG annual London summit chairman - to discuss some of the highlights of a day that spanned the impact of new technologies to the evolving role of sales; the importance of psychological insights in business development to budget pressures, and the war on talent to advice on how to manage future careers.
“A client-centric approach will never go out of style”
Gail Jaffa sat down with PwC’s Alex Liddle - and this year’s PSMG annual London summit chairman - to discuss some of the highlights of a day that spanned the impact of new technologies to the evolving role of sales; the importance of psychological insights in business development to budget pressures, and the war on talent to advice on how to manage future careers.
Gail Jaffa (GJ): Thank you first of all Alex for being such an exceptional conference chairman. We’ve been bowled over by the feedback. I know you’d not attended before, never mind, speak or MC the day. How did you find it?
Alex Liddle (AL): I thought it was an excellent event bringing together some of the brightest minds in sales, marketing and business development within the professional services sector. The diversity of perspectives, depth of discussions and willingness to share were inspiring. The energy in the room was fantastic and as chairman, I loved seeing faces in the audience I knew could answer a particular question better than me!
GJ: Let's dive into the highlights. What were some key takeaways for you?
AL: One of the main ones was, perhaps unsurprisingly, the increasing importance of digital transformation. Many sessions focused on how firms can leverage technology to enhance their sales, marketing and business development efforts. From AI-driven analytics to personalised client experiences, the emphasis was on using digital tools as a now non-negotiable way to stay competitive and relevant.
GJ: Digital transformation is indeed a hot topic. Can you share a specific example or a case study that stood out to you?
AL: Absolutely. I was delighted by the way Sam Stamp at LINAR explained how AI could be used, saying, “we are not there yet, but we are going to be!”. He really demonstrated the importance of good prompting as the key to unlocking successful use of GenAI as well as understanding its limitations. Being able to do this properly will help streamline client interactions and identify new business opportunities.
GJ: How about the challenges? What are the main hurdles firms face in embracing digital transformation
AL: The primary challenge is cultural. Many professional services firms are steeped in tradition, and adopting new technologies can be met with resistance. Additionally, there is the issue of data security and compliance, especially when dealing with sensitive client information. Firms need to ensure they have robust cybersecurity measures in place as well as understanding the tools they are using. If you use OpenAI for example your information will be available for it to learn from and use by others. Some tools can use GenAI but can be closed so that it doesn't store the data. Additionally people are aware and afraid of hallucinations, this is something that is getting better due to the guardrails companies are using to limit this, but it is still something to consider.
“The big thing for me will always be sales revenue and pipeline. This is the easiest way sales professionals can justify the return on investment within the department.”
GJ: Shifting gears, client relationships were another major theme of the day. What insights were shared regarding client engagement and retention?
AL: The big thing for me will always be sales revenue and pipeline. This is the easiest way to justify the return on investment. Instead of a one-size-fits-all strategy, firms are now focusing - as indeed they should - on personalised client experiences. This involves understanding the unique needs and preferences of each client and tailoring services accordingly. The use of data analytics to gain deeper client insights was heavily emphasised.
GJ: Were there any innovative strategies for client engagement you found particularly insightful?
AL: Firms are creating valuable and relevant content that addresses the specific pain points and interests of their clients. This not only positions the firm as a thought leader but also builds trust and loyalty amongst clients. Interactive content, such as webinars and virtual roundtables, will remain an effective way to engage clients in a more dynamic manner.
GJ: Speaking of evolution, how do you see the role of sales, marketing and business development professionals changing in the next few years?
AL: The role is becoming increasingly strategic. It’s no longer just executing campaigns; sales, marketing and BD people are now integral to shaping overall business strategy. Their insights into market trends and client behaviour are crucial for making informed decisions. Additionally, they are the ones in the best position to bring the entire firm to the client, not limited by practice area, becoming the voice of the client and helping generate new opportunities and revenue. It was great to see so many people put their hands up when I asked who worked in “sales”?
GJ: How important is it to collaborate with other departments across a firm?
AL: It’s essential. We cannot operate in silos. We need to work closely together but also with other departments, such as, IT, finance, operations, and especially client service teams, to ensure a cohesive approach. Effective collaboration leads to a better understanding and more synchronised efforts in delivering value.
GJ: What about discussions around measuring effectiveness?
AL: Key Performance Indicators (KPIs) are evolving beyond traditional metrics like number of downloads or people at an event. Firms are looking at metrics such as client satisfaction, engagement levels, and the quality of client relationships. The use of advanced analytics to track and measure these metrics was emphasised to gain actionable insights. From a sales perspective it is still important to look into how many times you’re seeing a client and what your sales pipeline looks like.
GJ: Lastly, what advice would you give to people looking to stay ahead in an environment I like to think of ‘exciting’ rather than ‘challenging’?
AL: Stay curious and keep learning. The landscape is constantly changing, so it's crucial to stay updated with the latest trends and technologies. Networking is also key—attending conferences, participating in industry forums, and building relationships with peers can provide valuable insights and opportunities. Finally – and it really should be taken as read - always keep the client at the centre of your strategies. A client-centric approach will never go out of style.