JEGI CLARITY held its third Executive Leadership Dinner of 2023 on October 19th at the Pierre in New York starting at 6PM with cocktails. These events are structured as roundtable discussions and provide a stimulating evening of great conversation and networking.
This dinner was titled “An Insider’s View of the Rapidly Changing Research & Insights Landscape.” The roundtable discussion was led by Steve Schlesinger, Executive Chairman of Sago, who shared his perspectives on the evolving research and insights industry. The dinner brought together approximately 35 senior executives from a mix of large global corporations and emerging companies. Below is an overview of the discussion from attendee Jillian Gibbs, Founder & CEO of APR.
Steve posed many thought-provoking questions to the group, kicking off with “Given the dynamics in the world right now, geopolitically, socioeconomically and overall client behavior, what should companies be doing today to be successful?” In response, the consensus leaned towards prioritizing customer success and relationship management. The key takeaways included a commitment to excelling in one’s core competencies, fostering close proximity with clients and focusing efforts on overdelivering to solidify existing partnerships. Staying in tune with the evolving needs of clients was highlighted as essential, ensuring that support remains tailored and effective. Leveraging satisfied clients as influential voices to generate new business leads was also encouraged. Finally, the proactive offering of multi-year contracts at a discount emerged as a strategy to cement these crucial relationships, securing a path to long-term success.
The group discussed opportunities, challenges, and trends in the research and insights industry. One significant trend mentioned is the shift of tech companies using consulting as a lead generation strategy to drive their subscription models, which is the opposite of how it was done in prior years. This change underscores the growing importance of consulting services in the tech sector. Additionally, clients are increasingly outsourcing roles such as data and business analysts, a shift that businesses in this space should leverage to expand their services and expertise. Furthermore, it’s crucial to help clients achieve more with less, offering efficiency and cost-effectiveness without compromising the quality of work. This approach will enhance client satisfaction and retention.
Observing the changes from the previous year, there’s a clear trend in clients shifting from annual plans to quarterly plans, reflecting the need for agility in these rapidly changing times. Additionally, AI has become a pivotal tool for data, and it’s essential for businesses to consider how they can incorporate AI into their operations to enhance productivity and services. Lastly, the idea that “flat is the new growth” means that companies that can maintain a stable revenue while improving their EBITDA performance are considered successful in the current environment.
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