At Resonance we want impact to define the wiring of our systems and the stories we tell, as much as the finance we raise or the clients we serve.
At Resonance, we want to measure the impact of everything we touch. Yes, the impact on people delivered by social enterprises with the backing of investors is why we’re here, but if we want to make that scalable and permanent, we know we need to pay attention to the impact of the process too. We want to encourage more investors to invest for social impact and we want social enterprises to win investment, but only if they both agree that the deal is the right match of impact, pricing and terms. We want to understand impact at every stage of our business, so we’ve taken a slice through the process from end-to-end and begun to measure what we feel evidences how Resonance has contributed to make the world a better place.
It’s imperfect, and we’re restless about improving it, but that’s in our DNA: We’re only doing social investment at all because we’re not happy with the way things are. If we want things to be different, we need to know what difference we are making.
In 2015-16, we made two significant changes to become a better ally for our clients’ social impact:
- We united our communications, IT and impact people as one team. This resulted in our first dedicated Head of Impact role at the heart of the team. We are intentionally shifting our focus from impact measurement to impact management. Impact is still everyone’s responsibility as it always has been but, as we grow, the choreography is becoming more and more important;
- We created the Resonance Impact Observatory. This is a consultancy service which gives life to looking at impact. It helps social enterprises to make impact measurement the new normal: as much a part of management information as financial data. Instead of a hoop to jump for investors, the Impact Observatory is helping our clients wire-up their data on impact so they can make better decisions and trace the line-of-sight between investment and impact.