Clients increasingly expect service that is tailored to their specific industry—and help in learning from more advanced sectors or those that pose potential threats. You need to collaborate with other sector experts to build an integrated, value-added offering.
Developing insights within and across sectors allows your team to build a coherent offering that is differentiated from competitors’. Ideally you help clients “see around corners” by combining knowledge to identify trends, risks and opportunities. In many firms, however, professionals’ skills and incentives have been built around legacy organizational structures like products and geography. These silos can result in a fragmented client engagement model with multiple professionals calling on the client and failing to optimize the solutions—or the profitability.
Our research across professional firms, financial services institutions, technology and other companies highlights both the upside and the challenges of moving toward a sector-focused market approach. Our analysis delves into firms’ organizational models, client perceptions and the behaviors required from leaders. We offer pragmatic suggestions for the strategic, organizational, and operational facets of delivering an integrated, sector-based approach.