New use of mathematical modelling “predicts” company success
31 January 2002
A new consultancy that is using computer modelling to “predict” if customers, employees and other stakeholders will stay loyal, is launched tonight at the Institute of Contemporary Arts in London.
fe3 consulting works with companies to increase their ‘corporate magnetism’ – the capacity to attract and retain all those that matter most to business success. Corporate magnetism is directed through the organisation’s brand, focusing not only on what it says, but what it does.
The company, which already has its first client, is founded by ex Hill and Knowlton communications consultant Karen Drury, management consultant Gary Saunders, and ex Countrywide Porter Novelli brand expert Emma Wootton.
fe3 consulting helps clients pinpoint the most motivating ‘brand promise’ that they can make, and guides companies through the changes needed to deliver the promise inside and out. The use of predictive modelling techniques is designed to show how each of the changes will deliver results.
“fe3 consulting is based on our belief that clients should not have to hope that a consulting project will add value,” said Gary Saunders. “We want to improve the business success of our clients by guiding integrated, authentic and consistent delivery of the brand promise based on statistically robust data.”
New use of mathematical modelling “predicts” company success/2
fe3 consulting’s approach uses research to build mathematical models that identify the areas of the business that will have the most influence on the overall health of the company, or its corporate magnetism. It is making strategic links with experts in computational mathematical analyses who work both in academia and in business. One of these experts is Professor David Lowe, head of the Information Engineering Group at Aston University.
Professor Lowe said: “The application of mathematical approaches to data mining invariably outperforms people’s subjective bias. It has been used in many areas, from the analysis of patient databases for cancer prognosis to the modelling of house price or financial market movements. The proposed approach leads to more robust information for decision makers.”
Karen Drury added: “Many companies aren’t authentic in their communication – what they promise is not what they deliver, and in many cases, that’s what causes customers and employees to leave the brand. What we hope to do is identify where they fall short of their promise and help them close the gaps.”
fe3 consulting’s first client, Teaching Personnel, a teacher supply agency, likes what it has seen so far. Chairman Fiona Eldridge said:
“Working with Gary, Karen and Emma is an unusual experience in the exciting, innovative sense of the word. Unlike the experience with many consultants the process may be tough, may be painful, but it is also fun. They function as an integral part of the team while maintaining sufficient external perspective.
New use of mathematical modelling “predicts” company success/3
“Since embarking on the process the whole company has taken on a different feel and staff feel involved in a way they have never before experienced,” she added.
Notes to editors:
Corporate Magnetism is directed through the organisation’s brand. It considers the authenticity of what companies say they do and what they actually deliver. It’s not just about marketing – it’s about ALL of the organisation and what it says about itself through the brand.
A variety of things could be obstructing the delivery of a brand promise:
fe3 consulting’s process synthesises several strands of recent research in marketing and human resource management and adds fe3 consulting’s own research and experience of what works in more than 100 clients.
Definition
fe3 consulting validates the brand to ensure it’s saying what companies would want it to say. fe3 consulting also considers those people who have already left the company – ex employees, ex-customers, suppliers who have moved elsewhere. From this fe3 consulting can identify the elements of the brand that most fail to keep a company’s promises, and which most have an impact on the decisions of people to stay – or leave. This is Corporate Magnetism
Organisational alignment
fe3 consulting works with the company to consider what reduces and increases the effect of its Corporate Magnetism. A key part of changing anything is for people to believe they can influence the changes – so fe3 consulting trains company staff to work inside the organisation to change things THEMSELVES.
Communication alignment
This third step may happen concurrently with organisational alignment, or slightly later, and looks at the way the company communicates, both internally and externally. It may look at internal communication, corporate brand and marketing strategy, to see if they are in line with the brand promise.
New use of mathematical modelling “predicts” company success/4
fe3 consulting is:
Karen Drury – communications consultant
Karen has a varied career history. For the past 12 years, she has worked in PR and internal communications in top five PR companies, and a small management consultancy. Previous clients include Vauxhall, Shell, BT, EDS, The Teacher Training Agency, Deutsche Bank Global Equities, Johnson & Johnson and The Telegraph Group.
Emma Wootton – branding and planning consultant
Emma has over a decade’s experience of planning and managing brand-led communications and developing brand positioning. Clients include FT Group, Shell Chemicals, the spirits category, BA Concorde, Johnnie Walker Blue. She also has extensive experience in bringing brands to life through external communications programmes e.g. PricewaterhouseCoopers, BT, ICO, McDonald’s, The FT, many drinks brands and for trade associations e.g. The European Solvents Industry Group, The European Energy from Waste Association and the packaging industry.
Gary Saunders – change management consultant
Gary has been a consultant for about 15 years. He has specialised in developing approaches to help clients improve the management of the people aspects of change since 1990, working with more than 60 leading clients in most sectors of the European economy. The range of approaches he uses includes developing and aligning people with vision and values, leadership and team development, performance management and measuring the impact of change interventions on employee and customer satisfaction.
Ends
For further information:
Karen Drury - 020 8292 8196/07967 194511
kdrury@blueyonder.co.uk
gary@corporatemagnetism.com
emma@corporatemagnetism.com