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Harvest More New Business From Your Top Clients

Written by Allan Colman on . Posted in Allan Colman, Asking for Business, Business Development, Client Retention, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Marketing, Marketing Partners, Online Marketing.

Guest Blog from Valerie Goodman

Harvest the Cream of the Crop

Wouldn’t it be nice if you could have 80% of your entire new business income derive from 20% of your top clients — the “Cream of The Crop” clients?

When you dedicate yourself to harvesting more from your Cream of the Crop” clients you will:
1. Enjoy your work more and earn more while doing it.
2. Be busy every day working with clients whom you enjoy, clients you trust and who trust you in return.
3. Have clients who will refer more business to you.

Here’s how to identify your Cream of The Crop clients and ask for referrals:
 Select 15, 25 or 45 of your top clients, whatever number is appropriate.
These are the ones that you would like to clone if you could, so your firm would be full of clients like them.
 The next time any one of these clients sees you step up the quality of your service. Make the meeting so unexpectedly amazing and positive they’ll be extremely appreciative of your attention, remember you, and be more professionally dedicated to you. This experience begins in the reception room.
 At the start of each meeting ask him or her about significant events that have happened. To make sure you have fuel for this conversation, make it a habit to write down something new about each client after EVERY visit or every time you speak with him. Make the effort to build rapport. Without this, you will not be able to develop any referral systems.
 When you are ready to ask for a referral, send a letter to each client on your “Cream of The Crop” list or TELL THEM PERSONALLY he or she is your ideal client and you would like more clients just like them. You might be surprised how many clients aren’t really aware that you’re accepting new clients.
In a recent Closers Group Client Retention Survey one of the questions was “What percentage of your attorneys ask their clients for referrals?”

75% of the marketing professionals said “NONE.”
10 % of the attorneys said none.
What does this tell you about a huge lost opportunity?

Harvesting more from your Cream of the Crop clients doesn’t happen overnight. They won’t become your greatest fans if you are hit and miss with your efforts. You will need to keep up the momentum, the energy and your follow-through 100% of the time. Do this and a bumper crop may be happening in your not-so-distant future!

 

4 Secrets to Accelerating Growth

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Marketing, Marketing for Law Firms, Practice Group Leaders, Strategic Planning. 1 Comment on 4 Secrets to Accelerating Growth

In order to practice the 4 secrets to accelerating growth, using our one-page-strategic-plan becomes key. As practice areas, offices and cross-specialties groups build this approach into their firm culture, they will open and then close multiple new business development opportunities. And business acceleration becomes a highly recognized and respected key to your firm.

By turning your business growth strategies into action, you have learned to avoid fatal mistakes and garnered more management support. You will build and sustain new revenue by using the 4 secrets;

* Increase the number of clients you serve;
* Get those clients to purchase more services each time they retain you;
* Encourage your clients to purchase more often from you;
* Increase your fees.

Now get to it before the competition does.

Have You Been Told to Grow Your Practice? – Origination Credit

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Content Marketing, Conversion Rate Optimization, Law Firm Marketing, Marketing for Law Firms, Online Marketing.

As competition for legal services increases, non-equity partners are being challenged to “grow your practice.” In more and more firms, marketing and business development efforts are being intensified and carefully measured for new revenue origination.

Those who succeed have not only applied law firm marketing coaching and advisory support, but now understand how to achieve:

  • Sustainable revenue growth
  • Providing superior client value
  • Out-maneuver the competition
  • More success in less time
  • Define and use their “identity capital”

These 5 and other components of accelerating new revenue and fee origination are designed to help grow your practice by transforming your ability to market and closing multiple new opportunities.

 

Have You Been Told to Grow Your Practice?

For a complimentary consultation on growing your practice and accelerating your new business, please contact us for a free consultation.

Ridin’ The Storm Out — #5 in Accelerating New Business Development

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Marketing, Leadership, Marketing Partners.

In our last post we began a discussion of Bruce Tuckman’s 4 phase path for teamwork – “forming, storming, norming and performing” and how it applies to accelerating new business development. When “storming”, people start to push against the law firm marketing and business development programs that are identified in the “forming” stage. This is often the stage where many teams fail and firm management may give up. Storming frequently begins where there is conflict between team members’ natural working styles. But if these working styles cause unforeseen problems, the individuals may become frustrated and loose the proximity to the “accelerator zone.”

Other storming situations may occur if team members challenge your authority or jockey for position as their roles are clarified. Some may question the goals and resist taking on tasks.

Next column will cover “norming” and how this stage impacts law firm marketing and business development.

90% of Marketing is “Half” Mental

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Leadership, Leadership, Managing Partners, Marketing for Law Firms, Marketing Partners, Practice Group Leaders.

Yogi Berra’s famous quote, in it’s modified use, addresses the most important aspect of marketing and accelerating new business development. Ultimately it is the attorneys and paralegals that will drive law firm business development into the “accelerator zone.” For management, understanding how to support and drive their people by using our “one page strategic plan” becomes the road to success. Psychologist Bruce Tuckman observed a 4 phase path that teams need to follow on their way to high performance and accelerating new business — “forming, storming, norming and performing.”

Today’s column deals with the “forming” stage, where team members are positive and polite. Some are anxious as they do not fully understand what work they will be doing. As the leader, you play a dominant role at this stage, because roles and responsibilities are not clear. Be aware that this stage can last for some time, as people begin working together and make an effort to get to know their colleagues. The so-called attorney “silo” operational set is still all to present and prevents early acknowledgement of entering the “accelerator zone.”

Next column will cover “storming.”

Don’t Make Flying Pigs From Law Firm Rainmakers

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Marketing, Marketing Partners, Strategic Planning.

It is stunning how many lawyers treat all leads alike, and market to the wrong prospects. Another major leadership mistake is asking law firm rainmakers to get out and prospect, which is analogous to “teaching pigs how to fly.” It would be far better to determine where each attorney needs the most business development help.

36ixty asks:
* Are they comfortable building rapport with new prospects?
* Do they know how to qualify the buyer/user?
* Will they build real value for clients?
* Can they create the desire to buy?
* How do they overcome objections?
* Do they close?

Use these questions and marketing training tools to bring along the next generation of law firm rainmakers.

Are Hamsters Running Your New Business Strategic Planning ?

Written by Allan Colman on . Posted in Allan Colman, Business Development, Business Strategy, Client Retention, Content Marketing, Conversion Rate Optimization, Marketing for Law Firms.

New business strategic planning is the process by which an organization’s leaders define and implement the plan needed to achieve the firm’s fundamental purpose — successfully solving problems and preventing them in the future. The output is a set of high level objectives [we identify them as “critical improvement areas” per 36ixty] and initiatives/specific actions to achieve these objectives.

In other words, turn strategy into action. And since most strategic plans sit on a shelf, gathering dust, we propose starting out with a ONE PAGE STRATEGIC PLAN – yes, one page. State the purpose, identify the anticipated profit, set the priorities, measure the performance and track the progress. Insure that firm members all understand what is happening, anticipate how their roles are critical to success, and build it into your firm’s/company’s culture.

Why Focus on Your Client's Bottom Line?

Written by Allan Colman on . Posted in Allan Colman, Business Development, Business Strategy, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Marketing, Leadership, Marketing for Law Firms.

Accelerate Your Business Now – Chpt.3

Note that these 12 Practices from 36ixty [brand, leadership, strategy, communication, team, core message, marketing, sales, customer experience, revenue and systems]Closers Group: Is Your Firm in the "Accelerator Zone"? break down into 3 manageable groups; how people work; how processes work; and systems to integrate and manage them all. We call them “impact areas” where clients focus on bottom line results. And in order to define these, we start with having senior firm management answer these questions as a group.

• What do I need to do more of?
• What do I need to do less of?
• What do I need to start doing?
• What do I need to stop doing?

The right questions are designed to focus on what is really important to the business and internal aspects necessary for success. The answers become the foundation that might lead to refinement, transformation in effectiveness and profits. They are the keys to growing new business. What then follows is the strategic planning process in our next column.

Are There Really “Magic Pills” for New Business Development?

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Content Marketing, Conversion Rate Optimization, Law Firm Marketing, Marketing Partners, Online Marketing.

ACCELERATE NEW BUSINESS DEVELOPMENT NOW
Chapter 2

Are there really “magic pills” for new business development?

Following our last post, on what happens to your new business development efforts when you are not in the “accelerator zone,” one wonders why isn’t everyone in business living in an “accelerator zone”? We find in our work that a primary reason is that most people don’t know what ingredients are necessary for leaders to new business development success. 36ixty Inc. cites 12 Essential Practices that lead to new business growth. They are branding, leadership, strategy, communication, team, value creation, core story, marketing, sales, customer experience, revenue and systems to manage all of these.

These 12 are not an end-all, cure-all or a series of magic pills. What they are equates to actual implementation of a business plan. They are especially applicable to firms and companies which are too often managed by consensus or collegiality. Practicing these 12 will lead to more clarity, focus and execution in new business development.

Our next chapter will address Business Development “Impact Areas”.

12 Essential Practices for New Business Development

Written by Allan Colman on . Posted in Allan Colman, Business Development, Content Marketing, Conversion Rate Optimization, Email Marketing, Law Firm Marketing, Leadership.

 

Why isn’t everyone in business living in an ACCELERATOR ZONE for new business development?

We find in our work that a primary reason is that most people don’t know what ingredients are necessary for marketing and new business development. 36ixty Corp. has identified 12 essential practices that lead business leaders to new business success. They are:

  • Branding
  • Leadership
  • Strategy
  • Communication
  • Team
  • Value creation
  • Core story
  • Marketing
  • Sales
  • Customer experience
  • Revenue, and
  • Systems to manage all of these.

 

These 12 are not and end-all, cure-all or a series of magic pills. What they are equates to a BUSINESS ACTION MODEL, leading to marketing and sales leadership success. They are especially applicable to firms or companies managed by consensus or collegiality. Practicing them lead to more clarity, focus and execution in business development.

More in the next post.