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Business Unusual — Do You Really Have a Brand?

Written by Allan Colman on . Posted in Brand, Business Strategy, Marketing Partners.

To determine if your firm will have “business unusual”, ask your colleagues if you really have a “brand.”  There are 12 components to accelerating revenue growth and the first is your firm’s brand.  Learn if it has any traction at all by asking each professional the following questions:

  1. What industries/groups use your services now?
  2. Which do you enjoy working with?
  3. What % of your new business are from referrals and repeat clients?
  4. Do you still use an old bio?
  5. What are the only services you can offer to clients?
  6. How would you describe your current stage of revenue growth?
  7. If you were to ask, what would clients say about the value you bring to the table?
  8. External perceptions of the firm?  of you?
  9. Describe your firm’s culture

If you have true brand identity, you and the firm will have longevity!

Do You Know the Next Piece of the Business Development Puzzle?

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Marketing Partners.

As business development consultants, in our business development round tables we are often asked “what is the next step?” or do you know the next piece of the business development puzzle. In previous posts, the first two pieces were: 1: build future leaders; 2. teach advanced tactics and process strategy, not theory.

The third piece of the business development puzzle is “Do not resolve for your professionals to make an impact; expect them to make an impact now!” For those who say “I don’t know how to begin”, send them to our Business Development Opportunities Check List in OWN THE ZONE, on Amazon, B&N, etc. It is designed for even the marketing and business development novice to begin a specific weekly/monthly actions program.

Three primary segments are Marketing and Business Development, People, and Internal Marketing. Elementary marketing can begin with the simple marketing bromide,

* Go Where They Go
* Read What They Read
* Know Who They Know.

As for “people”, have your non-marketers considered going to their alumni association meetings, become active in children’s groups such as soccer, or attend the industry associations where their practice focus resides?

And the third segment of our Business Development Opportunities Check List is “internal marketing,” typically the most overlooked marketing asset in every firm and company. How easy are these 3 elements? When can you start the “reluctant ones” on this path for new revenue generation? Go to the “Books” section of our website and begin the journey.

4 Steps to Master Closing New Business

Written by Allan Colman on . Posted in Law Firm Marketing, Marketing Partners, Strategic Planning.

When focusing on how to master closing new business, this post emphasizes work by Rick Justus at 36ixty.com and Bill Aulet’s “Disciplined Entrepreneurship” (Amazon, et.al.). These link directly with making a profit from your service.

Aulet identifies 4 steps to master closing new business:
* Design a business model;
* Set the pricing framework;
* Calculate the lifetime value of a client;
* Calculate the cost of client acquisition.

All too often, we see clients spending too little time in designing a business model. But in the interest of closing new business, building a pipeline future business requires: how and where to establish rapport; qualifying the buyer by finding their need; building your value to meet those needs; creating a desire for your firm and your service; identifying answers to overcoming objections; and methods and tactics to close new business. These 6 elements are known as the DEAL MAKER from Rick Justus’ 36ixty.

In our next column, we will offer action details for setting the pricing framework, calculating the lifetime value of clients and calculating the cost of client acquisition.

Where Do I Find Prospects?

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

One of the most common questions clients ask is where do I find prospects?

Simple Rules to Find Prospects

There are 3 simple rules to follow when attempting to find prospects, critical to undertaking marketing and new business development:

  • GO where they go
  • KNOW who they know
  • READ what they read

Play the Numbers

Business development is a numbers game. The more you go, meet their colleagues and read what they are reading (from Wall Street Journal to National Enquirer), the more relationships you are building for the long run. You will find prospects, more as you continue, along your way.

Just do it!
– Nike

Why Clients Fire You – Client Retention? Part II

Written by Allan Colman on . Posted in Allan Colman, Attorney Marketing, Business Development, Client Retention, Content Marketing, Conversion Rate Optimization, Email Marketing, Marketing Partners.

This is the concluding column on 10 reasons why clients fire you. Client retention is among the top priorities for building future business and receiving referrals. Last week we indicated that:

  • Lack of Contact
  • Their situation changes
  • Decisions made without authorization
  • Non-responsive
  • Failure to help

In thinking about clients that have left your firm, can you attribute any of these 5 reasons as a possible cause?

  • Apparent disregard for client’s budgets
  • Boring pitches in seeking new work or referrals
  • Not replacing a relationship partner with bad chemistry
  • Groundhog Day Syndrome – repeating the same work over and over
  • Capacity-bound partners with little or no time, continually passing work on to Associates

When it comes to attorney marketing and law firm business development think about the clients you have worked so hard to get.

Dancing With The Stars and Client Retention

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

Which of the four personality types are you trying to tango with?

For those focused on accelerating new business and client retention, Dancing With the Stars, “Which of the four personality types are you trying to tango with” offers an important lesson: the hard work you put in during rehearsal is every bit as important as your time spent dancing in front of the camera.

There is nothing more important than your ability to talk, listen, look at, express, laugh, be serious, and connect with your client. Each client, depending upon his or her personality type, will respond to you according to how they process information. Just like a couple who moves across the dance floor as one, the words and how they are delivered by you during a meeting or encounter will make a difference in your business development outcome.

In general, most clients will fall under four personality types. Think about a few of them now. Can you categorize any of them into one of the following personality types? If so, here are some tips on how to communicate more effectively:

1. The Socializers

The socializer is the easiest group to communicate with. They’re fun, talkative, and gregarious. They’re OK if you’re busy or late. They’ll put you in a good mood. They are open-minded. They will accept unanticipated changes. They have lots of friends and want you as one also. For case presentation or to present a new idea to them, just be earnest and friendly and tell them what they need.

2. The Drivers

The drivers can be intimidating, but they are the second easiest group to accept your recommendations.
They’re all about business, being on time, being productive, and getting it right the first time. They don’t care if you’re their friend. They want you to be competent and professional. Every spare minute is important to them. Multi-taskers, they could be texting while you are getting settled into the meeting! Be confident and present. Don’t give them options. Your conversations should be: “This is what we need to do….and why….”

3. The Realtors

This group is more challenging. They are warm, gentle and considerate clients. They do not make quick decisions. They need to talk about your recommendations, think it over. They need time. Don’t be sensitive or upset that you don’t get the quick “yes”. You’ll wonder, perhaps, what you did wrong if they don’t say “yes” right away. These aren’t first-day-decision clients. If you have a “realtor” as a client be sure that you focus on:

  • Discussing how many times you’ve been successful with the specific matter you’re talking about
  • Presenting examples
  • Being clear and thorough during your presentation

“Realtors” just need more time to think. Hang in there.

4. The Thinkers

Just like the name implies, the Thinkers like to think it over. They are courteous, respectful, and inquisitive. They want you to be professional and informed. They don’t like changes. They might ask you for a detailed accounting of their matter and why. Making a presentation to a “thinker” is like presenting to a colleague. Know your stuff! Be detailed and to the point.

 

Dancing with the Stars and Client Retention

Remember, when it comes to attorney marketing, your clients (and potential ones) are both the audience and the judges. The more you prepare the better your performance will be.

 

 

Grow Your New Business in 5 Minutes a Day!

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

Guest editorial from Valerie Goodman

Grow your new business development in just five minutes a day.

MOST FIRMS who approach us looking for business development and sales training want fast results. Many of them are surprised when we say that a firm’s bottom line can grow by dedicating five minutes a day to a simple plan. This is especially true for smaller firms whose principals may not have someone dedicated solely to relationship-building and business development.

On the flip side, adding this uncomplicated five-minute- a-day strategy can lead to unexpected rainmaking. Even if people believe in you, and even if they believe you’d be a great hire, business partner, vendor, or whatever, people need to be reconnected with and reminded that you’re there.

If you spend five minutes a day for a year that is at least 250 business development “touches”. And if you are in a firm of 30, and each attorney does 250, that’s 7,500 touches per year. Wow!

THE ACTIONS themselves will take longer, but by dedicating just five minutes per day to generating new business, you will be mapping out a course marked by true efficiency and will be on the road to accelerating business growth.

Contact Closers Group to learn your plan for the week.

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!

 

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.