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Being more strategic – Case studies and insights (Ireland May 2023)

Red Star Kim

Competitor analysis is discussed further here Pitching, differentiation and competitor analysis (kimtasso.com) It was interesting to read about the success of a “ one firm” strategy Capturing the value of ‘one firm’ | McKinsey (May 2023) where research across 2,000 companies shows that it pays to operate as “one firm.”

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Context and curiosity drive commerciality and pricing

Red Star Kim

This week’s PM Forum training workshop “Commerciality: Finance, Pricing, Innovation and Research” was attended by delegates from law, accountancy and insolvency firms. Delegates then chose to focus on finance, economics and pricing. Finance fundamentals Financial awareness is another capability required by M&BD.

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Sales Targeting Toolbox for Professional Services Firms

Red Star Kim

This puts segmentation and targeting at the top of the strategy agenda A Marketing Week survey in 2023 revealed that marketing strategy is the most undervalued skill by businesses. For example, for accountants this might include Quoted Companies Alliance, UK Finance or Federation of Small Businesses.

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Manage and grow your private client practice – Recruitment, Performance, Segmentation and ROI (February 2023)

Red Star Kim

There were comments about the importance of the Employee Value Proposition (EVP) which is similar to the firm’s overall brand but with a focus on what value there is for potential employees. People want to join a winning team and to visualise their progression.

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Book review – Managing Brands

Red Star Kim

I attended an excellent seminar on the legal aspects of brands in early 2023 by Azrights intellectual property lawyers. In professional services there is only Accenture at 31 (which has grown 15%).

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Be more strategic – A metaphor: Analyse, join and align the dots

Red Star Kim

Then we consider data about our internal environment – our finances, our people, our services, our marketing and business development, our systems, our culture etc. We obtain data about our external environment – using a PESTLE analysis , competitor analysis and understanding trends in our markets, sectors and clients.