The Financial Times is launching a new consulting service Titled FT Strategies. The Chief Data Officer, Tom Betts, indicated that the new venture will be a consulting business, which uses consumer data. Betts also indicated that the consulting services could be ideal for any industry facing disruption, or industries involved in direct-to-consumer products.
The Financial Times tested its consulting business and has already built up several clients, including Bonnier, The Business of Fashion and more.
The launch of FT Strategies indicates that the Financial Times is diversifying its business. Previously, the organization would rely on subscriptions, and it recently reached 1 million readers. However, the new consulting branch will allow the company to have more revenue streams, which can help protect the organization from a potential decline in subscriptions.
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Why This Trend Is Growing
- Consumer Data Consulting
- The use of consumer data for consulting services presents an opportunity for disruptive innovation in various industries.
- Industry Disruption Consulting
- Consulting services that specialize in industries facing disruption can offer innovative solutions and strategies.
- Direct-to-consumer Consulting
- Consulting services that cater to industries involved in direct-to-consumer products can help businesses navigate the changing consumer landscape.
Industries Being Reshaped
- Media Publishing
- The media publishing industry can benefit from consumer data consulting services to enhance their revenue streams and address evolving trends.
- Fashion Industry
- Consulting services targeting the fashion industry can provide innovative solutions to navigate disruptions and capitalize on direct-to-consumer trends.
- Business Consulting
- A consulting service specializing in industries facing disruption can assist businesses in developing strategies to stay competitive and embrace new opportunities.
