The Challenge
When collecting industry knowledge across a range of sectors, searching for new business opportunities, firms need a reliable method that selects and highlights specific trends within these sectors that is tailored to them. A leading global law firm faced difficulty with prioritizing top business opportunities within the Asia Pacific region. The client needed insight into industry-specific trends, issues and business drivers within broad sectors including healthcare; energy, mining and infrastructure; financial institutions; technology media and telecoms; consumer goods and retail; industrials, manufacturing and transportation. When tackling this challenge, Evalueserve’s goal was to give the client insight and focus into these broad sectors, while identifying opportunity areas that would be most beneficial to the client’s goals.
Our Solution
The Evalueserve team wanted to establish a strong sense of focus for the client, while also providing options for the wide scope that they wanted to pursue when targeting the Asia Pacific Region. We were able to do this in distinct phases:
Phase 1 – Streamlining the Scope
Creating options from a range of 11 broad sectors for the client was important. The Evalueserve team bifurcated the broad sectors into focused subsectors, giving direction to the client’s decision-making process.
Phase 2 – Using Paid Data Bases
After finding direction for the client to pursue and focus on, the Evalueserve team was able to elaborate on these different options for the client. By using multiple paid data bases, key market trends across industries were able to be identified.
Phase 3 – Identifying Opportunity Areas
Bringing insight into the trends that were identified was followed by categorizing them into various groups such as business; technology; and legal services. Each of these groups was followed by demographics and insight into key opportunity areas for the client.
Emphasis was placed on generating insight from the client’s perspective, a law firm providing legal and business advice to corporate clients, in order to identify opportunity areas specific to them.
Business Impact
The identification of opportunities enabled the client to gain insight into future business, technology and legal decisions within the Asia Pacific region. Since the insight was collected within a very short time frame, the client was able to utilize it for almost immediate use, shaping the way that they were approaching these broad sectors.
Quick data collection turnaround
Significantly saves time and resources, increasing overall efficiency
Adapt to key markets
Understand and adapt to target market’s specific needs
Enabled to pursue opportunity areas
Educated decision-making when pursuing new business opportunities