Vision 2020 - Irene Redman September 2013
Name: Irene Redman
Current role: Head of Business Development and Marketing at the CIOT and ATT
Previous experience: Twelve years in professional services business development (including ICAEW and Norton Rose) and previously an investment banker and a background in emerging markets.
1. The pearl: What is the most valuable bit of wisdom you have gained during your career?
Focus on opportunities! There will always be problems, but opportunities don’t come by every day. And the article, “Managing your Boss” by John J. Gabarro and John P. Kotter.
2. What do you consider the biggest frustration, working within Professional Service Firms?
Economics forcing a focus on short-term gains at the expense of longer-term relationships and profile.
3. What is the biggest change in professional marketing in the last 5 years?
The increasing means to measure return on business development investment coupled with the need for firms to provide a link between cost and value to the client.
4. What are your priorities for the next 12 months?
Relationships, relationships, relationships. Developing and strengthening relationships with decision makers and influencers at current and prospective clients.
5. Any red herrings – marketing ideas and initiatives that are not going to deliver on the hype?
That branding and advertising will attract and retain clients. In the end it is the professional expertise and experience provided by partners and the practice areas that are able to differentiate themselves, position themselves, and do a few things really well. Oh, and social media.
6. Any organisations you admire - and why?
Freshfields (Elizabeth Chambers) and Mishcon de Reya (Elliot Moss) for the work they are doing in focusing their firms, on differentiation, positioning and doing a few things really well. This is in stark contrast to the “try to please the partner and practice area that screams the loudest”.
7. Market achievement that you are most proud of (individual or firm level)?
Producing results at each firm I’ve worked for! And since I’ve been at the CIOT I have doubled the numbers for the international product and increased income by over 200%.
8. Where do you think firms in your sector will be investing most in 2020?
Taxation professionals and their clients will need to deal with the growing complexity of cross-border taxation legislation issues, and the need for increasing Government revenue generation balanced with ensuring businesses grow domestically and internationally.
9. What is going to be the most exciting industry sector in the next 5 years?
Information – as in communication medium, the trading of knowledge-intensive products, and ownership of the generation, distribution and storage of information.
10. What global region do you think will fly?
Everyone says Asia, I have a soft spot for Africa, but South America is really beginning to sneak up on the agenda.
11. What will happen to marketing and BD salaries?
As revenue structure and fee charging structures evolve, salaries and bonuses will become more aligned with results.
12. And finally …when I am not at work I like to …
Travel, watch my kids play rugby, sail, garden and sit around a nice meal with friends.