PSMG launches major study on business development

The Professional Services Marketing Group (PSMG) last night (4 April) ratified a decision to launch a major research study on measuring the effectiveness of business development.
According to co-chair Chris Hinze, the board was in "universal agreement" on designing a study among professional services firms to measure the return on investment in business development.
Mark King, co-chair and marketing director at Lewis Silkin, described the problem of measuring the effectiveness of business development, as "one of the most important issues" facing professional services marketing today. "There are large sums of money involved and it is a competitive market," he added. "Partners want to know that if you do this, you get that."
He added that the research project was in the early stages but that the PSMG was commited to beginning work on developing the questionnaire and exploring how it could be carried out.