1. Emerging Trends in Business Development of Professional Services
Ghulam Mustafa Qazi, FCMA
Vice President ICMA Pakistan
Managing Partner, TQMC, Financial and Management Consultants

2. 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
Today’s Business Scenario

3. 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
Target Markets have shifted

4. 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.
Services Defined

5. 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.
Business Services

6. Core Marketing Concepts

7. Branding

8. Services Brands

10. 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
Use of Smart Phones

11. Tangibility Spectrum             Intangible Dominant
Salt 
Soft Drinks 
Detergents 
Automobiles 
Cosmetics 
Fast-food
Outlets 
Intangible
Dominant 
Tangible
Dominant 
Fast-food
Outlets 
Advertising
Agencies 
Airlines 
Investment
Management 
Consulting
Teaching

12. 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
Some Characteristics of Services

13. 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
Challenges for Services Business

14. 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
Services- Key Challenges

15. SME Sector generally does not understand the significance of service need
Large enterprises prefer international/ large service providers
Marketing is difficult
Key Challenges

16. Key Challenges Keeping up with new technologies
Retaining key human capital when required
Availability of human capital
Pricing
Gaps in assessment of deliverables
Key Challenges

17. 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
Managing Challenges

18. Factors Influencing Customer Satisfaction
Relationship with Client
Quality of Service
Achievement of Client’s objectives
Price-Value perception
Factors Influencing Customer Satisfaction

19. 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)
Achieve Customer Satisfaction

20. 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
Innovation

21. Why Innovation? To look different/ better
To serve customers’ needs more efficiently
To be market leader
Why Innovation?

22. Be Innovative Keep up with latest development/ research
Offer something different from your competitors
Present innovatively
Be Innovative

23. Marketing & Promotion

24. Interactive Marketing
Services Marketing Triangle
Company
(Management)
Internal Marketing
External Marketing
“enabling the
promise”
“setting the
promise”
Employees
Customers
Interactive Marketing
“delivering the promise”

25. The Services Triangle and Technology
Company
Technology
Customers
Providers

26. Expanded Marketing Mix of Services- The 7 Ps
Product
Price
Place
Promotion
People
Process
Physical Evidence
Expanded Marketing Mix of Services- The 7 Ps

27. Expanded Marketing Mix for Services

28. Expanded Marketing Mix for Services

29. Gaps in Service Quality
Expected Service
CUSTOMER
Customer
Gap
Perceived
Service
Service Delivery
External Communications to Customers
COMPANY
GAP 4
GAP 1
GAP 3
Customer-Driven Service Designs and Standards
GAP 2
Company Perceptions of Consumer Expectations

30. Gaps in Service Quality
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

31. Customer’s Zone of Tolerance
Varies from Customer to Customer and Type of Service
Desired Service
Zone of
Tolerance
Adequate Service
Customer’s Zone of Tolerance

32. Factors Influencing Customer Satisfaction
Relationship with Client
Quality of Service
Achievement of Client’s objectives
Price-Value perception
Factors Influencing Customer Satisfaction

33. Outcomes of Client Satisfaction
Retention of client
Positive word-of-mouth communications and Referrals
Increased revenues

34. Presence on Web Having a dynamic website Online Selling SEO Emails
Blogging
Forums
Etc..
Presence on Web

35. 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 …
Some New Ways to Marketing

37. 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.
Marketing Online

38. Email Marketing Quick contact Professional Design Effective Message
signatures
E-marketing outsourcing
Avoid Spamming
Newsletters
Blogs and Articles
Marketing

40. Visiting Cards Visiting Cards eVisitng Cards--- Your introduction
Traditional cards
Mention your website, , facebook, linked, skype links
eVisitng Cards--- Your introduction
Profile
Products and services
Contact details
Visiting Cards

41. Online Selling Web portal Selling Globally Online payments
Home Delivery
Online Selling

42. Other Strategies Events, contests Referral Schemes
Online meetings and Video Conferencing
Offer something free
Other Strategies

43. Online Consulting/ Outsourcing

44. Blogging
Articles Writing
Online response to queries
Write Online

45. International Affiliations always Pays

46. Take Care of Your Team Employees are your Assets Motivate them
Reward them
Teach Them
Take Care of Your Team

47. 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
Other Tips

48. Always be sincere to yourself and your clients. Give them best advice

49. And FINALLY YOU are the Most Important Person Reward yourself
Focus on Your Family
Avoid Tensions
Be HAPPY
BECAUSE
YOU are the Most Important Person
And FINALLY

50. Thank You