Research and Benchmarks
Let's face it, most professional service firms create strategy roadmaps by treading the same well-worn paths again and again.
At best, a strategic approach based on anecdotal evidence means navigating using an incomplete map. At worst, the direction taken can be vulnerable to the politics of the firm and the whims of individual partners. And even if the direction is right, if there's any doubt about its validity, getting the convoy rolling can be challenging.
To create a successful strategic roadmap that everyone will use, professional service firms need validated insights: from market position and transactional performance, to highly sensitive internal questions such as how individual partners are performing.
The frustration for many people in professional service firms is that they are usually aware of this situation, but know that the cost of getting quantitative, rigorously researched information across all the necessary areas is prohibitive.
Beaton Consulting's Research and benchmarks practice conducts quantitative and qualitative market research, from industry benchmarks to customised research studies, using our in-house capabilities and expertise to deliver insights in a streamlined and cost-effective manner.
Professional Insights
Beaton Consulting's 'Professional Insights' was formally launched at an Asia-Pacific Professional Services Marketing Association (APSMA) conference. It is an integrated suite of web-enabled research solutions customised to professional service firms and designed to improve profits and balance within firms.
- Beacon™ – the largest quantitative research study amongst buyers of professional services in Australia yielding insights on buyer behaviour, brand perceptions and inter- and intra-firm benchmarks.
- Partner360 – a multi-source 360-degree feedback system for partners and senior practitioners, providing input on a range of behaviours that are critical to the firm's success.
- Talent monitor – a study that collects responses from partners and staff to measure and benchmark staff loyalty, commitment and satisfaction, as well as determine what drives these crucial measures.
- Australian Water Insights – Beaton Consulting has recently completed five months of research into the Australian water industry.
Professional Insights represents a unique way for individual firms to access firm-specific, action-oriented evidence that stands up to critical evaluation.
Customised research
Our customised research services incorporate leading methodologies, research design and statistical techniques in response to specific business and marketing needs. Our focus is on the provision of strategic recommendations guided by research outcomes, analysis and client involvement.
Customised research services include:
- Client satisfaction and attitudinal studies
- Market segmentation design and analysis
- Client segmentation design and analysis
- Client relationship reviews
- Prospective client assessments
- Firm expansion assessments
- Brand health and positioning studies
- Brand audits – comparing the internal and market views
- Assessment and development of new products/services
- Market demand testing
- Pricing studies
In-house research technologies
Some of the techniques we used in client projects include:
- Full web-based survey design and hosting (including email invitation, pop-up and website link access)
- Choice based and adaptive conjoint studies (for product/offer design and optimisation and pricing sensitivity)
- Statistical analysis including factor, cluster and discriminant analysis, forecasting methods, multiple regression and other multivariate techniques
- Questionnaire item / instrument design and evaluation (scale development based on classic item response theory)
For more information about the R&B practice area, contact Fiona Tregoning, on +613 9829 0000.
Beacon™ is a trade mark of Beaton Consulting.