PA Consulting Group’s global business leader survey demonstrated that a combination of factors across industries – including economic crisis, increased regulatory pressures, information growth and changing customer-service expectations – has resulted in a uniquely challenging trading environment.
For many commercial organisations, their response has been to cut costs. However, our experience shows that the companies that focus on growing the top line achieved greater profit and competitive position. And as a result, these companies not only endured the troubled climate, but came out stronger than they went in.
To substantially improve autonomous top-line growth, organisations need to first establish the optimum organisational conditions that will produce commercial excellence. Effective commercial organisations achieve this by:
Transforming data into intelligence – analysing internal and external customer data to improve efficiency and effectiveness. Using data analytics, commercial organisations can improve their customers’ experience and thereby increase business performance. Rather than just using internal data successfull organisations use social media intelligence as well.
Thinking ‘people’ as well as technology – developing a culture that gives people the freedom to do things in new ways. For a company to effectively adopt a new initiative, for example, leadership needs to show adequate enthusiasm in order to motivate staff
Organising themselves differently – implementing a structure to enable the sharing of intelligence throughout the business and across functions and geographies
Actively engaging with clients – understanding that customers will show loyalty to the providers that can differentiate themselves from competitors; knowing who customers are and what experiences are important to them.
To see how well your organisation is currently performing against these conditions, request a commercial excellence scan.
PA works with global organisations to understand their customers’ behaviour through an approach that draws both on insightful data analytics and on developing the business cultures that can support commercial excellence. Ultimately this results in the delivery of better service provision and increased revenues and margins. Our work has included creating a new target operating model for a global asset management company, to implement a new business model and giving a leading insurance provider insight into customer behaviour through predictive modelling. We also helped a leisure travel group increase sales, repeat booking and customer advocacy by analysing its data across multiple business units and geographies.
To find out how PA can help you exploit smart approaches to achieve competitive advantage, please contact us now.