7Summits In the News
Paul Stillmank Featured as Go-To Digital Transformation Expert by Salesforce
As the COVID-19 pandemic continues to impact how business gets done, companies throughout our industry must find ways new ways to engage clients and keep revenue growth strong. Reflecting on some of these changes, Salesforce recently authored a blog titled “3 Trends Impacting Revenue Growth at Professional Services Firms” in which they position 7Summits CEO Paul Stillmank as the go-to commentator on digital transformations.
The blog starts by acknowledging 7Summits’ success at being ahead of the curve with our virtual business development, and how our company has quickly adapted to the new ways of selling that are now necessary. Salesforce continues the article by reviewing in-depth each of the three industry trends taking place, featuring insights and examples from Paul throughout.
Here are each of the three trends, with excerpts of Paul’s commentary on the importance of adapting to each of them.
Paul Stillmank on Professional Services Revenue Growth Trends
“Trend #1: The majority of professional services leaders prioritize digital transformation
…’Companies are pouring more gas on digital transformation, because they know they can then separate themselves from their competitors during this turbulent time and take market share,’ Stillmank said.
One of his clients was preparing a supply chain optimization program, but decided to shift its capital to other digital transformation efforts because ‘they needed to get their partner and customer networks optimized first,’ Stillmank added. Moving these key audiences to a digital experience helped sustain business momentum while they worked remotely during the pandemic.
Trend #2: Professional services firms find new ways to connect with clients
…7Summits uses virtual sit-downs with large clients and partners to position themselves in that advisor role. Pre-pandemic, they conducted these quarterly business reviews in person, but now they do them over video. They meet with client executives to find out what challenges the business faces, and then bring in an expert who can help in that area.
‘One of our core values is working socially, so extending our day-to-day virtual nature to these deeper reviews just made sense,’ Stillmank said. ‘We’re finding that this is a great way to introduce executive management to digital collaboration, which is quite frankly generating a lot of business opportunities for us.’
Stillmank’s company also helped an insurance company pivot to virtual meetings with prospective clients. In the past, the insurance company would send an agent to sit down with each employee to discuss their insurance needs. Now, they do that online.
‘We’re building a Salesforce community for our client that optimizes their prospects’ intake processes ahead of time, leaving more time to connect and sell,’ Stillmank added.
Trend #3: Managing relationships will be key to recovery and growth
…7Summits plans on exceeding 40% growth this year. One way they approach that growth is through client surveys to understand how they can serve clients even better. ‘We’re asking customers what else that they would like,’ Stillmank said.
Stillmank feels some virtual interactions can be even richer and more engaging than in-person ones. ‘What’s really amazing is when you’re remote like this, they actually stay engaged a little bit longer [than at a conference],’ Stillmank added. ‘Having somebody grab a dinner or pop by the booth can be pretty effective. But when we get a customer to sign up for an agenda and spend some time in a briefing, it actually ends up being a deeper and richer conversation that it was with those more serendipitous catch-ups.’”
The full article can be found on Salesforce’s website, featuring even more insights from Paul Stillmank about these three trends for professional services, and some key statistics illustrating the thoughts and behaviors of industry leaders.