This article is an important read for any/all leaders of pro services firms:
The data marks an absolute game changer on how this sector will grow. The authors' studies statistically demonstrate that reliance on existing clients and organic growth will result in severe negative growth.
From the article:
"A survey we conducted of roughly 100 C-level executives revealed that as recently as five years ago, 76% of buyers preferred to buy again from partners or firms they had used in the past. Today, that figure is down to 53%—and over the next five years, it is expected to drop to 37%."
The study lands on one BD profile - the Activator - whose traits lead to sustainable growth. The key actions of Activators are:
1. Leveraging events and social platforms
2. Educating on critical trends and issues
3. Proactively engaging on new opportunities
4. Collaborating with internal and external SME partners
90% of Activators reserve time for BD every week!
Amazing wake up call. Enjoy.
