Virtual market: the virtual market comprises the intangibles which today have a key influence on business, such as public policies and regulations, societal paradigm changes, the growing role of non-governmental organisations, the increasing complexities of policy-making at national, European or global level.  Companies can derive tangible benefits by applying the expertise they have built up to successfully operate on their commercial market to their ‘virtual market’. Politics is just another market.

Traditional lobbying: Many companies define lobbying as ‘the process of trying to influence policymakers in favour of the company’s interest’.  They resort to campaigning their views, without listening to political and societal demands. This kind of lobbying is reactive, untimely and sometimes even irresponsible from a societal or ecological perspective. It has proven to be ineffective and destroys value in the long term.

Innovative lobbying: Innovative lobbying anticipates regulation by entering into a permanent social dialogue with society and the forces that form it: non-governmental organisations, public authorities, media, interest groups, think thanks, etc. It builds on the company’s expertise in Research & development, strategy, product development and marketing to become an influential and active player in the regulatory process and to ensure a long-term equilibrium between the company and the society it operates in.

Management of innovative lobbying: Companies should not simply seek to delegate these efforts to outsiders or to a few staff members, often isolated from the main commercial activities, but should learn to integrate them in their normal business activities. This requires adaptation of their organisation and decision-making processes and, certainly in the beginning, coaching for those who have to operate in these different political and societal environments.

Competitive advantage through innovative lobbying: The ultimate goal of innovative lobbying is to create long-term value for shareholders. A company that has built up the expertise and techniques to enter into a permanent dialogue with its environment and be constructively and permanently involved in regulatory activity deriving from societal change, will develop a more robust strategy and will develop more effective products and services.