By Simon Knowles.
The Business Case
With approximately 25-30% of outsourcing contracts being influenced or run by independent advisors, outsourcing providers cannot afford to ignore this important channel to market. With a proliferation of advisors engaged in services like business-case development, RFP formulation, provider selection through to an increased involvement in post contract optimisation and restructuring decisions, market leading providers are putting in place systematic and integrated advisor relations programmes that result in a new and enhanced channel to market, timely business intelligence, increased pipelines and improved win rates.
The Proof is in the Pudding
With sales and marketing teams under increasing pressure to demonstrate results, implementing an effective advisor relations programme is good for measuring the return on investment. For example working with one client over the past 5 months we have identified 10 major outsourcing transactions, introduced them to over 35 advisors and raised the organisation’s awareness to over 200 influencers across Europe. In addition, we have reworked documentation to enhance differentiation, coached internal sales teams and set up a measurement and tracking process to help them quantify the ROI of the programme. “Over the past 5 months the Essential Edge, from a standing start, has delivered a significant set of relationships and generated a pipeline of credible opportunities for us by implementing an effective advisor programme across Europe. They have given us an ‘outside-in’ perspective of what we need to do to reposition, differentiate ourselves and engage effectively with the market place. I recommend the Essential Edge without hesitation as we have in the last 5 months developed a partnership.” European Marketing Director, Global Outsourcing Provider.
Critical Success Factors
So what are the critical success factors for implementing a successful programme?
- Senior Executive sponsorship & commitment
- Sales + marketing + delivery involvement, integration and alignment
- Closed-loop reporting to measure Return on Investment (ROI) and Return on Relationship (ROR)
- A senior Advisor Relations leader, with a strong network of relationships and capability to interact at the executive level
If you would like to learn more about the Essential Edge’s tried-and-tested approach to implementing or enhancing an advisor relations programme, then please email email@example.com.