Ghulam Mustafa Qazi, FCMA Vice President ICMA
Description: Ghulam Mustafa Qazi, FCMA Vice President ICMA Pakistan Managing Partner, TQMC, Financial and Management Consultants Emerging Trends in Business Development of Professional Services Todays Business Scenario World has turned into Global
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slide1. Ghulam Mustafa Qazi, FCMA
Vice President ICMA Pakistan
Managing Partner, TQMC, Financial and Management Consultants Emerging Trends in Business Development of Professional Services<br>
slide2. Today’s Business Scenario World has turned into Global Village
Technology has changed everything
Traditional methods of doing business have changed
Communication is fast
Internet has become a need of everyone<br>
slide3. Target Markets have shifted Only 20 years ago, a business owner used to promote his/ her products in his/ her city or country.
Touching global market was difficult
But now he/ she can approach customers across the globe while sitting in office anywhere… Customer is one click away<br>
slide4. Services Defined Intangible products such as accounting, banking, cleaning, consultancy, education, insurance, expertise, medical treatment, or transportation.
Sometimes services are difficult to identify because they are closely associated with a good; such as the combination of a diagnosis with the administration of a medicine.<br>
slide5. Business Services Business service is a general term that describes work that supports a business but does not produce a tangible commodity.
Examples include information technology, insurance, accounting and consulting.<br>
slide6. Core Marketing Concepts<br>
slide7. Branding<br>
slide8. Services Brands<br>
slide10. Use of Smart Phones 53% of Americans are now owning smartphones
The amount of time people spend on a mobile device is growing at 14 times the rate of desktop usage.
Mobile is becoming a more prominent channel for commercial transactions<br>
slide11. Tangible
Dominant Intangible
Dominant Salt Soft Drinks Detergents Automobiles Cosmetics Advertising
Agencies Airlines Investment
Management Consulting Teaching Fast-food
Outlets Fast-food
Outlets Tangibility Spectrum<br>
slide12. Some Characteristics of Services No transfer of possession or ownership takes place when services are sold
Intangible -Cannot be stored or transported
Heterogeneous – Cannot be replicated
Are instantly perishable
Come into existence at the time they are bought and consumed.
Pricing of Services is a difficult subject
Quality is subjective and their perception varies by recipient
Service delivery is different from products delivery
Mass production of services is difficult
Unlike products, services cannot be returned or resold<br>
slide13. Challenges for Services Business Defining and improving QUALITY
Communicating and testing new services
Communicating and maintaining a consistent image
Motivating and sustaining employee commitment
Coordinating marketing, operations and human resource efforts
Setting prices
Standardization versus personalization<br>
slide14. Services- Key Challenges Service Management: Delivering the expectations
Difficulty in relating services to financial benefits
Customer Satisfaction
Quality: Maintenance, proving quality
Customer retention
Investment in research<br>
slide15. Key Challenges SME Sector generally does not understand the significance of service need
Large enterprises prefer international/ large service providers
Marketing is difficult<br>
slide16. Key Challenges Keeping up with new technologies
Retaining key human capital when required
Availability of human capital
Pricing
Gaps in assessment of deliverables<br>
slide17. Managing Challenges Understand the expectations/ deliverables
Discuss before you proceed
Get the deliverables and needs signed by client (Terms of reference, Requirement Specifications, Contract)
Assess the skills available
Carefully select Project Team
Commit only what you can deliver<br>
slide18. Factors Influencing Customer Satisfaction Relationship with Client
Quality of Service
Achievement of Client’s objectives
Price-Value perception<br>
slide19. Achieve Customer Satisfaction Discuss and explain what has been delivered
Explain the associated benefits- long-term as well as short-term
Associate the financial benefits (cost saving, client retention etc.)
Respond to questions
Follow-up
Send relevant information (newsletter)<br>
slide20. Innovation “fresh thinking that creates value” Richard Lyons
“new products, business processes and organic changes that create wealth or social welfare”.. OECD
change that creates a new dimension of performance.. Peter Drucker
Innovation is converting ideas to numbers<br>
slide21. Why Innovation? To look different/ better
To serve customers’ needs more efficiently
To be market leader<br>
slide22. Be Innovative Keep up with latest development/ research
Offer something different from your competitors
Present innovatively<br>
slide23. Marketing & Promotion<br>
slide24. Internal Marketing Interactive Marketing External Marketing Company
(Management) Customers Employees “enabling the
promise” “delivering the promise” “setting the
promise” Services Marketing Triangle<br>
slide25. Company Customers Providers Technology The Services Triangle and Technology<br>
slide26. Expanded Marketing Mix of Services- The 7 Ps Product
Price
Place
Promotion
People
Process
Physical Evidence<br>
slide27. Expanded Marketing Mix for Services<br>
slide28. Expanded Marketing Mix for Services<br>
slide29. Gaps in Service Quality Perceived
Service Expected Service CUSTOMER COMPANY Customer
Gap GAP 1 GAP 2 GAP 3 External Communications to Customers GAP 4 Service Delivery Customer-Driven Service Designs and Standards Company Perceptions of Consumer Expectations<br>
slide30. Customer Gap:
difference between expectations and perceptions
Provider Gap 1:
not knowing what customers expect
Provider Gap 2:
not having the right service designs and standards
Provider Gap 3:
not delivering to service standards
Provider Gap 4:
not matching performance to promises Gaps in Service Quality<br>
slide31. Customer’s Zone of Tolerance Adequate Service Desired Service Zone of
Tolerance Varies from Customer to Customer and Type of Service<br>
slide32. Factors Influencing Customer Satisfaction Relationship with Client
Quality of Service
Achievement of Client’s objectives
Price-Value perception<br>
slide33. Outcomes of Client Satisfaction Retention of client
Positive word-of-mouth communications and Referrals
Increased revenues<br>
slide34. Presence on Web Having a dynamic website
Online Selling
SEO
Emails
Blogging
Forums
Etc..<br>
slide35. Some New Ways to Marketing Social Media Marketing
Linkedin .. Company page, ads
facebook, ..Pages, Groups, Ads
Youtube… Product/ Services videos
Skype .. Online calling, meetings
ebay .. Online selling
Twitter.. Promotions
OLX
Regularly Update …<br>
slide37. Marketing Online Register on Business Directories
Search Engine Registration
List Your Products with Shopping Comparison Bots and Auction Sites
Online paid marketing
Pay per click
Google Ad words etc.<br>
slide38. Email Marketing Quick contact
Professional Design
Effective Message
Email signatures
E-marketing outsourcing
Avoid Spamming
Newsletters
Blogs and Articles<br>
slide40. Visiting Cards Visiting Cards
Traditional cards
Mention your website, email, facebook, linked, skype links
eVisitng Cards--- Your introduction
Profile
Products and services
Contact details<br>
slide41. Online Selling Web portal
Selling Globally
Online payments
Home Delivery<br>
slide42. Other Strategies Events, contests
Referral Schemes
Online meetings and Video Conferencing
Offer something free<br>
slide43. Online Consulting/ Outsourcing<br>
slide44. Write Online Blogging
Articles Writing
Online response to queries<br>
slide45. International Affiliations always Pays<br>
slide46. Take Care of Your Team Employees are your Assets
Motivate them
Reward them
Teach Them<br>
slide47. Other Tips Develop personal relationship with clients… make client your FRIEND
Discuss about business and related issues he is facing
Visit them frequently… have a cup of tea or coffee with him
Invite clients to your office
Know and share new developments and resulting requirements of clients<br>
slide48. Be Sincere Always be sincere to yourself and your clients. Give them best advice<br>
slide49. And FINALLY Reward yourself
Focus on Your Family
Avoid Tensions
Be HAPPY
BECAUSE
YOU are the Most Important Person<br>
slide50. Thank You<br>
Vice President ICMA Pakistan
Managing Partner, TQMC, Financial and Management Consultants Emerging Trends in Business Development of Professional Services<br>
slide2. Today’s Business Scenario World has turned into Global Village
Technology has changed everything
Traditional methods of doing business have changed
Communication is fast
Internet has become a need of everyone<br>
slide3. Target Markets have shifted Only 20 years ago, a business owner used to promote his/ her products in his/ her city or country.
Touching global market was difficult
But now he/ she can approach customers across the globe while sitting in office anywhere… Customer is one click away<br>
slide4. Services Defined Intangible products such as accounting, banking, cleaning, consultancy, education, insurance, expertise, medical treatment, or transportation.
Sometimes services are difficult to identify because they are closely associated with a good; such as the combination of a diagnosis with the administration of a medicine.<br>
slide5. Business Services Business service is a general term that describes work that supports a business but does not produce a tangible commodity.
Examples include information technology, insurance, accounting and consulting.<br>
slide6. Core Marketing Concepts<br>
slide7. Branding<br>
slide8. Services Brands<br>
slide10. Use of Smart Phones 53% of Americans are now owning smartphones
The amount of time people spend on a mobile device is growing at 14 times the rate of desktop usage.
Mobile is becoming a more prominent channel for commercial transactions<br>
slide11. Tangible
Dominant Intangible
Dominant Salt Soft Drinks Detergents Automobiles Cosmetics Advertising
Agencies Airlines Investment
Management Consulting Teaching Fast-food
Outlets Fast-food
Outlets Tangibility Spectrum<br>
slide12. Some Characteristics of Services No transfer of possession or ownership takes place when services are sold
Intangible -Cannot be stored or transported
Heterogeneous – Cannot be replicated
Are instantly perishable
Come into existence at the time they are bought and consumed.
Pricing of Services is a difficult subject
Quality is subjective and their perception varies by recipient
Service delivery is different from products delivery
Mass production of services is difficult
Unlike products, services cannot be returned or resold<br>
slide13. Challenges for Services Business Defining and improving QUALITY
Communicating and testing new services
Communicating and maintaining a consistent image
Motivating and sustaining employee commitment
Coordinating marketing, operations and human resource efforts
Setting prices
Standardization versus personalization<br>
slide14. Services- Key Challenges Service Management: Delivering the expectations
Difficulty in relating services to financial benefits
Customer Satisfaction
Quality: Maintenance, proving quality
Customer retention
Investment in research<br>
slide15. Key Challenges SME Sector generally does not understand the significance of service need
Large enterprises prefer international/ large service providers
Marketing is difficult<br>
slide16. Key Challenges Keeping up with new technologies
Retaining key human capital when required
Availability of human capital
Pricing
Gaps in assessment of deliverables<br>
slide17. Managing Challenges Understand the expectations/ deliverables
Discuss before you proceed
Get the deliverables and needs signed by client (Terms of reference, Requirement Specifications, Contract)
Assess the skills available
Carefully select Project Team
Commit only what you can deliver<br>
slide18. Factors Influencing Customer Satisfaction Relationship with Client
Quality of Service
Achievement of Client’s objectives
Price-Value perception<br>
slide19. Achieve Customer Satisfaction Discuss and explain what has been delivered
Explain the associated benefits- long-term as well as short-term
Associate the financial benefits (cost saving, client retention etc.)
Respond to questions
Follow-up
Send relevant information (newsletter)<br>
slide20. Innovation “fresh thinking that creates value” Richard Lyons
“new products, business processes and organic changes that create wealth or social welfare”.. OECD
change that creates a new dimension of performance.. Peter Drucker
Innovation is converting ideas to numbers<br>
slide21. Why Innovation? To look different/ better
To serve customers’ needs more efficiently
To be market leader<br>
slide22. Be Innovative Keep up with latest development/ research
Offer something different from your competitors
Present innovatively<br>
slide23. Marketing & Promotion<br>
slide24. Internal Marketing Interactive Marketing External Marketing Company
(Management) Customers Employees “enabling the
promise” “delivering the promise” “setting the
promise” Services Marketing Triangle<br>
slide25. Company Customers Providers Technology The Services Triangle and Technology<br>
slide26. Expanded Marketing Mix of Services- The 7 Ps Product
Price
Place
Promotion
People
Process
Physical Evidence<br>
slide27. Expanded Marketing Mix for Services<br>
slide28. Expanded Marketing Mix for Services<br>
slide29. Gaps in Service Quality Perceived
Service Expected Service CUSTOMER COMPANY Customer
Gap GAP 1 GAP 2 GAP 3 External Communications to Customers GAP 4 Service Delivery Customer-Driven Service Designs and Standards Company Perceptions of Consumer Expectations<br>
slide30. Customer Gap:
difference between expectations and perceptions
Provider Gap 1:
not knowing what customers expect
Provider Gap 2:
not having the right service designs and standards
Provider Gap 3:
not delivering to service standards
Provider Gap 4:
not matching performance to promises Gaps in Service Quality<br>
slide31. Customer’s Zone of Tolerance Adequate Service Desired Service Zone of
Tolerance Varies from Customer to Customer and Type of Service<br>
slide32. Factors Influencing Customer Satisfaction Relationship with Client
Quality of Service
Achievement of Client’s objectives
Price-Value perception<br>
slide33. Outcomes of Client Satisfaction Retention of client
Positive word-of-mouth communications and Referrals
Increased revenues<br>
slide34. Presence on Web Having a dynamic website
Online Selling
SEO
Emails
Blogging
Forums
Etc..<br>
slide35. Some New Ways to Marketing Social Media Marketing
Linkedin .. Company page, ads
facebook, ..Pages, Groups, Ads
Youtube… Product/ Services videos
Skype .. Online calling, meetings
ebay .. Online selling
Twitter.. Promotions
OLX
Regularly Update …<br>
slide37. Marketing Online Register on Business Directories
Search Engine Registration
List Your Products with Shopping Comparison Bots and Auction Sites
Online paid marketing
Pay per click
Google Ad words etc.<br>
slide38. Email Marketing Quick contact
Professional Design
Effective Message
Email signatures
E-marketing outsourcing
Avoid Spamming
Newsletters
Blogs and Articles<br>
slide40. Visiting Cards Visiting Cards
Traditional cards
Mention your website, email, facebook, linked, skype links
eVisitng Cards--- Your introduction
Profile
Products and services
Contact details<br>
slide41. Online Selling Web portal
Selling Globally
Online payments
Home Delivery<br>
slide42. Other Strategies Events, contests
Referral Schemes
Online meetings and Video Conferencing
Offer something free<br>
slide43. Online Consulting/ Outsourcing<br>
slide44. Write Online Blogging
Articles Writing
Online response to queries<br>
slide45. International Affiliations always Pays<br>
slide46. Take Care of Your Team Employees are your Assets
Motivate them
Reward them
Teach Them<br>
slide47. Other Tips Develop personal relationship with clients… make client your FRIEND
Discuss about business and related issues he is facing
Visit them frequently… have a cup of tea or coffee with him
Invite clients to your office
Know and share new developments and resulting requirements of clients<br>
slide48. Be Sincere Always be sincere to yourself and your clients. Give them best advice<br>
slide49. And FINALLY Reward yourself
Focus on Your Family
Avoid Tensions
Be HAPPY
BECAUSE
YOU are the Most Important Person<br>
slide50. Thank You<br>