Don't Stop Believin': The journey we went on to become strategic partners

Tom Hoy
Promise, UK
Daniel Hall
Sony Music, UK

Introduction

Whatever the industry – from law to advertising – nearly every professional service company in town has the stated ambition of becoming 'strategic partners' to their clients. The logic is clear. Embedded within the concept of strategy is the promise of more interesting, impactful work (usually with higher margins!) Embedded within the concept of partners is the promise of a rich on-going relationship that will fill the intellectual and financial coffers for years to come.

From a client perspective there are also many advantages to building strategic partnerships with professional service companies. Establishing a strategic partnership creates a much more efficient way of working, increasing the capacity, flexibility and capability of the client within their organisation; freeing up time and attention for other tasks and generally increasing their effectiveness. At its most impactful the professional service company becomes a seamless part of the client organisation, combining the benefits of external expertise and independence with the internal knowledge and relationships of a client-side department. Almost invariably, a true strategic partnership provides great value for money for the client.