We have identified Grapes of Wrath complaints about marketers from in-house counsel,” We were outnumbered and out-talked.” Pick which ever grape fits your business development style:
* Sending too many people to a meeting;
* Offering to handle what we already have;
* Not being prepared for the meeting;
* Lack of business etiquette, i.e. taking calls
* At a meeting, talking among yourselves, not the client/prospect.
Remember what Jeff Bezos of Amazon says, “Your brand is what stays in the room after you leave the room!”
If ever there were a Zen excuse for not marketing, it is” I’m afraid of the process.” Oh, come on. Follow Arthur Ashe’s advice – “Start where you are. Use what you have. Do what you can.”
Of all the excuses for not marketing, “I know no one who knows anyone” is the most absurd. As Mark Twain observed, “The secret of getting ahead is getting started.”
We want to sweeten our offer for helping us with our 2017 Law Firm Outlook Survey. We’re conducting a brief survey to learn morfe about the key issues facing law firms in 2017. Anyone who responds can participate in a drawing for their choice of an OMAHA STEAKS package or GOODE TEXAS PECAN PIE – both sweetened and tasty rewards for helping us.
We;ll collect responses and share the results with our law firm community. Responses are anonymous and confidential – entry in the drawing is optional.
We greatly value your time and input. Take the survey https://www.surveymonkey.com/r/5CCRFGP
We are conducting our 2017 Law Firm Outlook Survey. It is a brief survey to learn more about the key issues facing law firms as we head into the new year. We’ll collect responses and share the results with our law firm community.
Responses are anonymous and confidential.
We greatly value your time. To take the survey, https://www.surveymonkey.com/r/5CCFRGP
Do you know the 9 pieces of a Business Development Puzzle? With each post, you will see one more critical tactic we emphasize for long term revenue growth and sustainability. For anyone who guesses 5 of the 9 pieces prior to December 1st, we will make a donation in your name to the Children’s Cancer Research Fund.
Building future leaders should be the mission of every law firm and professionals services firm. Professional development programs including client management, client retention, marketing, cross-marketing, etc. should be present in every firm. A recent ALM Intelligence survey pointed out the reason. In surveying partner-level laterals (within the previous 3 years), 48% said one of their primary motivations to moving to another firm was the availability of professional development training. Yes, 48%.
A hint for the next business development puzzle piece – Where does marketing theory fit in?
In the last post, we began the discussion of Client Retention by asking what should you ask your clients? This is an important part of building client relationships and new business development. Perhaps, focus those questions more on:
* What do they really like about your firm?
* Why do they, or don’t they send referrals to you?
* What else would they like you to offer or provide to make their relationship with your firm
stronger or more productive?
And remember to ask all of your staff members who might deal with your clients in billing, leaving messages, following up for you, etc. They might have some interesting and different questions for you:
* Why do they think clients hire you?
* What do they think clients want in addition from you?
And then ask your suppliers and vendors that help to keep your offices running:
* Why do they think clients hire you?
* What do they think you can do to improve the client experience?
* What ideas have they seen other firms and companies do that work well?
And then, synthesize all the answers and identify the one idea that truly sets you apart.
In Disciplined Entrepreneurship, Bill Aulet begins his 6 themes with Who Is Your Ideal Customer, focusing on business development. Topics covered include:
Market Segmentation
Selecting a Beachhead Market
End User Profile
Total Addressable Market for the Beachhead Market
Persona for Beachhead Market
Want to Learn More about YOUR Ideal Clients or Customers?
The Closers Group offers a complimentary collection of speed-review questions that are essential to Getting To Know Your Client and determining how to undertake new business development.
In the Closers Group experience, lack of attention to client retention is a primary reason clients fire you. When it comes to attorney marketing and business development, the first step is to value and properly serve the clients you’ve worked so hard to get in the first place. It is one of the simplest ways to accelerate business, wouldn’t you agree?
Jay Abraham, in “Getting Everything You Can From Everything You’ve Got”, cites these primary reasons why clients have become dissatisfied and have left relationships.
Lack of Contact — leading to your client forgetting about the relationship
Their Situation Changes — and no longer need what they hired you for, or were unaware of your
other practice areas
Decisions — were made without authorization
Costs — were incurred without authorization
Non-Responsive — to requests for changes or reviews in billing
Failure — to respond to requests for help with additional practice areas
We’ll identify an additional group of reasons clients fire you in the next article.
To really under understand what successful business development is, one must understand what it is not. Here are our top five myths about business development.
Myth #1:
Business Development and Law Firm Marketing are Interchangeable Terms
Law firm marketing is about being found, not chosen. How you get found is through publicity. This includes media outreach, networking, and distribution of collateral materials, conducting and attending workshops. Law firm marketing is the activity that targets the eyes, ears and interests of your potential client.
With ammo in hand, where do you aim? This phase is called “business development”. Perhaps a more appropriate term for business development is “business generation,” which requires (dare I write it) sales training and closing skills. And, exactly what we do here at The Closer’s Group.
Myth #2
Attorneys should step into the business development process only after the marketing department develops a strategy.
Let’s face it; your marketing department isn’t going to magically wave a wand and “poof!” new clients appear in front of you. Ultimately the onus is upon the attorney to bring in (and keep) the business. The role of law firm marketing should support those goals with collaterals media and public relations activities and identifying seminars and workshops that help facilitate network development (Remember “law firm marketing” you just read above…).
Once you have the information and sales training, plan a strategy to pursue the business and hone in on your closing skills.
Myth #3:
When it Comes to Attorney Marketing, “One Size Fits All”
NEWS FLASH…. One size never fits all. Marketing should be tailored according to personality, needs of the firm and those of the client. One tactic that works for one attorney won’t necessarily work for another. One fatal marketing mistake is to use the same tactic over and over without looking closely at each prospect. Tailored business development, sales training and closing skills will land you clients with a much higher closing rate.
Myth #4:
Clients Want Sellers to Do Most of The Talking
Keep your resume to yourself and let the potential client do the talking. Adopt the old IBM 60/40 sales training rule — keep them talking 60% of the time and spend the remaining 40% asking good questions based upon your research. Pay attention to your client’s verbal cues, and refine your pitch accordingly.
Myth #5:
Once You’ve Won The Business, Further Marketing to The Client Isn’t Necessary
A big complaint that I often hear from clients is the lack of communication and the feeling of being “kept out of the loop” in important decisions. Your firm’s client retention depends on identifying their needs regularly.
Client needs are a moving target. The time you spend listening and attending to complaints could be the difference between keeping a client and accelerating new business, to losing them to another, more attentive firm.
Do you know the 9 pieces of a Business Development Puzzle? With each post, you will see one more critical tactic we emphasize for long term revenue growth and sustainability. For anyone who guesses 5 of the 9 pieces prior to December 1st, we will make a donation in your name to the Children’s Cancer Research Fund.