Digital Transformation in Professional Services
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The document discusses how professional services firms can better serve their clients' digital needs. It notes that clients now expect personalized, convenient digital experiences. However, many professional services firms still take a one-size-fits-all approach online. The document provides suggestions for how firms can tailor their digital offerings to specific audiences and client challenges through techniques like personalized page layouts, segmented content types, and focusing on usability across different devices. Firms are encouraged to understand client needs and align their digital strategies and content to meeting audience and business goals.
![Understanding client needs is what sets you apart
The ideal relationship is the lawyer who is closest to being a
member of the in-house legal team, someone who understand
our values, culture, style and our business.
You tend to find with the major [engineering] consultants that
they’re all pretty close to each other. What matters is their
understanding of client needs.
– NISUS Consulting](https://image.slidesharecdn.com/servingprofessionalsneeds-150708085657-lva1-app6891-160602101625/85/Digital-Transformation-in-Professional-Services-14-320.jpg)
Digital Transformation in Professional Services
- 1. Moving from professional services to serving professionals’ needs
- 2. So why focus on digital?
- 3. “One third of UK business leaders are concerned about a significant new competitor from the technology sector” PwC Annual Global CEO Survey
- 5. Empowering customers to have it their way (In return for their data)
- 6. New models in lookalike sectors… Q2 2015: eToro raising an additional $12million The total investment volume raised among the investors amounted to $39 million. Funding circle fund £623,610,260 worth of loans so far
- 7. Are forcing incumbents to evolve or be superseded “Nutmeg targets 100k users by Q2 2015” The group raised £19m from investors including Schroders “Investec to launch a rival to Nutmeg” Wealth manager is setting up a discretionary investment platform later this year. Wednesday 06 May 2015 “Barclays plans D2C offering for 2015” Monday 07 July 2014 “Hargreaves to launch D2C discretionary service to plug advice gap” Wednesday 03 September 2014
- 8. Revolution is coming to your cyberspace very soon! Timing (years) 0 5 10 15 20 25 30 35 40 45 50 0 1 2 3 4 5 Impact(%changeinbusiness) Realestate Professional services Finance ICT and media retail trade Arts and recreation Government services Utilities Recruitment and cleaning Transport and post Health Education Agriculture Mining Manufacturing Construction Wholesale trade Accommodation and food services Short fuse, Big Bang Short fuse, Small Bang Long fuse, Small Bang Long fuse, Big Bang 32% of the economy 33% of the economy 18% of the economy17% of the economy
- 9. So why focus on the digital customer?
- 10. We all expect digitally enabled personal service… • Our expectations are higher – if we don’t have a good experience, we’ll move to a competitor. $83bn Is lost each year in poor customer experiences (IBM)
- 11. HMWIs spend this many hours online per week, on 4 devices 48hrs Your clients are even more sophisticated and demanding Ref: LinkedIn
- 12. By 2015, “digital natives” will hold the majority of buying power in the economy, and by 2025, they will dominate the UK. – PWC
- 13. Your target audiences want Authenticity and simplicity • More retail focus to content • Features and benefits • Peer to peer advice • Educational tools • Experts as personalities Hyper-convenience • Digital self-service • Multiple media types • Responsive and adaptive • Specific touch points for specific tasks Accessible expertise and the inside track • Audience specific portals • Thought leadership hubs • Advice centres • Access to experts More relevance • Needs-based navigation • Personalisation • Content syndication
- 14. Understanding client needs is what sets you apart The ideal relationship is the lawyer who is closest to being a member of the in-house legal team, someone who understand our values, culture, style and our business. You tend to find with the major [engineering] consultants that they’re all pretty close to each other. What matters is their understanding of client needs. – NISUS Consulting
- 15. So what’s stopping this experience being the norm?
- 16. But what you offer is complicated!
- 17. Take of the logo and they could all be the same
- 18. Take of the logo and they could all be the same
- 19. Some move towards client challenges
- 20. But the experience is generally hard work Suggested next steps after reading the page Highlight the service leader contact details and information Contextual crosslink between services and industries Related content at the bottom of the page to increase engagement and provide guidance in finding relevant information
- 21. 1. Not responsive 2. Sites, apps and social destinations aren’t organised by the challenges your customers are facing 3. USPs are not clear 4. Useful sections and thought leadership hidden 5. Inflexible template structures 6. Confused navigation, repeated items 7. Outdated, passive and informational content that isn’t nuanced for different audiences 8. Poor tagging and linking of related content Top issues
- 22. So where to begin?
- 24. Page layouts that work across different layouts
- 26. Variety of content types Video Infographics
- 27. Think beyond your peers • Clear information hierarchy • External as well as internal-focused organisation • Categories that drive users to self select • Dedicated experiences for each journey • Good tagging of deep-lying content to key themes • Strong visual identity for each service and challenge • Flexible page layouts • Focus on contextual content tone and messaging
- 28. Self identification – BT
- 29. Life stage navigation – HSBC Business websitePersonal website
- 30. Need based and mobile first – Adobe
- 31. Data visualisation - Nutmeg
- 32. Talking to different users… differently Royal Mail: Corporate audienceRoyal Mail: Personal audience • Primary CTA addresses core personal user need • Clear path to top personal user tasks • Quick links • Primary CTA focuses on offline interaction • Tools are business-focused • Explanatory/persuasive text – sales pitch
- 33. Talking to different users… differently • Educational tone • Sober imagery, headings in question format • Video for clear, reassuring explanation British Heart Foundation : FundraisersBritish Heart Foundation: Users with health worries • Conversational, jocular tone • Fun imagery • ‘Order a fundraising pack’ CTA (off page)
- 34. Closing thoughts
- 35. Need based strategies in the digital world are a 3 way street Market and industry trends Audience needs, expectations, pain points Business needs A successful strategy aligns these competing needs
- 36. So ask yourself Do you have a digital strategy and objectives? Have you defined the audience goals you are trying to meet to deliver these objectives? Does it align with your organisation’s business objectives? Do you really know how your suspects, prospects and clients use digital in their relationship with you? Does each new initiative look to meet at least one audience and business need? Have you optimised the solution for the device it will be consumed on? Is your content tailored for the target audience and device it will be used on? Will you know if you’ve been successful?