I joined the PM Forum webinar on next-gen M&BD strategies this week, and one theme came through very clearly: in tougher market conditions, professional services firms are becoming much more disciplined about where they invest time, budget and effort.

A lot of the discussion centered on moving away from activity that looks good on paper, and towards activity that can show a clearer line to revenue growth.

Here are my 5 standout takeaways from the session:

1. First, there’s a much stronger focus on existing clients. Cross-selling came up repeatedly, but in a more structured way than the term sometimes suggests. Less opportunistic “have you tried this too?” and more deliberate client development, built around better listening, better account planning, and a clearer view of where the real opportunities sit.
    
2. Second, thought leadership is still important, but only when it is properly connected to a wider commercial goal. The speakers talked about doing fewer pieces, with more purpose behind them that are aligned to client issues, integrated into campaigns, and supported by follow-up that actually moves conversations forward. That feels like a meaningful shift from publishing for visibility alone.
    
3. Third, data is becoming much more central to BD and marketing decisions. Not just reporting on what happened, but using client listening, win-loss analysis, pricing insight, pipeline data and profitability measures to decide what to do more of, and what to stop doing. There was a refreshing amount of honesty around the need to cut low-yield activity, even when it has traditionally been part of the mix.
    
4. AI was another major thread. Although, interestingly, the conversation was quite practical. Not AI for the sake of it, but AI as a tool to help teams move faster, repurpose content, support research, improve workflows and free up time for more valuable work. The general view seemed to be that the opportunity is real, but human judgement, relationships and commercial understanding still matter most.
    
5. And finally, there was a lot of emphasis on skills. Commercial literacy, listening, better sales conversations, stronger follow-up, and giving marketers and BD teams the confidence to play a more active role in client relationships. That feels especially relevant now, as firms look for growth in a market where reputation alone is no longer enough.

What came through most clearly is how legal marketing and BD are becoming more focused, more measurable, and much more closely tied to revenue outcomes.

Many of the examples shared were specific to law firms, but most of these themes will resonate with the wider professional services sector too.