Know Thy Client
Tag: business development tactics
There’s No Such Thing as a Cold Call
There’s no such thing as a cold call in law firm marketing. In fact, you never have to make a so-called cold call. The resistance some professionals have to business development isn’t unlike the distaste for wintery weather conditions – and a lot of it stems from a distaste for making these cold calls. The term implies a lak of control over the turns of the conversation, hint at feeling stuck – as though there are no other options for attracting new clients. They may even fill one with a sense of dread over the fear of icy responses from the individuals they have called.
We use a group of simple tactics to identify previously unknown prospects so that a much “warmer” approach can be taken.
Law Firm Marketing – Increase New Business Now
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[/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][rs_space height=”16px”]How can you increase new business and identify new suspects rapidly?Go where they go; Know who they know; Read what they read!!!
This marketing cliche should be the mantra for every firm leader.
Focus on ensuring marketing and closing skills begin with the first contact and involve following up, building the relationship, understanding the prospect’s business,
brainstorming, and offering ideas before asking for the business.
Make sure your marketing teams practice these skills to close more business by starting to meet more suspects and prospects.
Three tactics to utilize include;
1. Is the firm’s leadership focusing on developing the right strategies and cultivating teamwork to grow new business?
2. What are these strategies and teamwork- building approaches?
3. Who are the companies and agencies you should be targeting now?
At the Closers Group, we help law firms close more new business rapidly using a variety of business development tactics just like these.[rs_space height=”16px”]
Marketing for Marketers Series
Only 3 Sources of New Business
Rainmaking Does Not Start Outside
27% Have Been Terminated by In House Counsel
It Is Not Enough to Win[rs_space height=”16px”]
Law Firm Marketing – It Is Not Enough to Win
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[/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][rs_space height=”16px”]It is not enough to win.In order to get future work it is critical to continue building the relationship. Start by offering to share trial tactics with your client’s in house law department, co-author an article within her industry publications, or invite the teams to a celebratory dinner after the win, settling a strike, or successfully completing the new merger.
Do you get the message here – it is not enough to win.
Look for ways to help your clients. Your clients expect you to be ahead of the curve.
Consider using these 3 approaches:
- What internal selling tools can you help your individual clients develop?
- At an upcoming conference can you sit your clients next to people with whom they can build a new beneficial relationship?
- Identify your colleagues who can provide another practice value to your clients.
At the Closers Group, we help law firms close more new business rapidly using a variety of BUSINESS GENERATING TACTICS, just like these.
[rs_space height=”16px”]
Marketing for Marketers Series
Only 3 Sources of New Business
Rainmaking Does Not Start Outside
27% Have Been Terminated by In House Counsel
It Is Not Enough to Win[rs_space height=”16px”]
Law Firm Marketing – 27% Have Been Terminated by In House Counsel
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Schedule Your Free Consultation
If you would like to schedule a time to speak with Closers Group, please complete the information below.
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[/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][rs_space height=”16px”]In our recent survey with in-house counsel and law firm attorneys in both the U.S. and Canada, in-House Counsel have terminated 27% of their long term relationships due to poor communication or the absence of communication! This stunning result was actually not a surprise to us.It’s no wonder business executives and legal departments are shaking things up.
If you haven’t already done so, transform your business culture, erase artificial boundaries between sales (yes “sales”) and service. Understand the bottom -line benefit of speaking directly and honestly to client needs. Build internal succession plans for each client. Attend their industry conferences and read their journals.
But most importantly, insure that clients receive top legal skills assistance and then show them where it has helped.
If you are wondering where to start, these 3 questions will help:
- Who is assigned to track each industry to which your firm provides legal assistance?
- Study who and how often they have retained other firms?
- Are your attorneys encouraged to cross market with other practice groups to offer more service?
At the Closers Group, we help law firms close more new business rapidly using a variety of BUSINESS GENERATING TACTICS, just like these.[rs_space height=”16px”]
Marketing for Marketers Series
Only 3 Sources of New Business
Rainmaking Does Not Start Outside
27% Have Been Terminated by In House Counsel
[rs_space height=”16px”]
Law Firm Marketing – Rainmaking Does Not Start Outside
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Schedule Your Free Consultation
If you would like to schedule a time to speak with Closers Group, please complete the information below.
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[/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][rs_space height=”16px”]Did you know that rainmaking does not start outside? It begins under your own roof.Take advantage of your firm’s business development training and other professional development themes, such as client retention and client management.
Join business development groups in the firm that are actively reviewing attorney marketing successes and failures in formal postmortem meetings. Create your own action program, not a “plan” that will sit on a shelf. Evaluate different ways to build client relationships, select one and work on it. Always have questions ready to ask. Determine what tactics legal assistants, librarians and your marketing staff can do to help with your business development efforts.
Start with these 3 important questions:
- Have you begun scheduling update calls with your clients?
- Do you know what your competitors are offering?
- What value do you and the firm really bring?
At the Closers Group, we help law firms close more new business rapidly using a variety of BUSINESS GENERATING TACTICS, just like these.
[rs_space height=”16px”]
Marketing for Marketers Series
Only 3 Sources of New Business
Rainmaking Does Not Start Outside
27% Have Been Terminated by In House Counsel
[rs_space height=”16px”]
Law Firm Marketing – Only 3 Sources of New Business
[vc_raw_html]JTNDZGl2JTIwc3R5bGUlM0QlMjJ0ZXh0LWFsaWduJTNBY2VudGVyJTIyJTNFJTNDaWZyYW1lJTIwd2lkdGglM0QlMjI4NTMlMjIlMjBoZWlnaHQlM0QlMjI0ODAlMjIlMjBzcmMlM0QlMjJodHRwcyUzQSUyRiUyRnd3dy55b3V0dWJlLmNvbSUyRmVtYmVkJTJGU2FKcmpIM1lEYzglM0ZyZWwlM0QwJTI2bW9kZXN0YnJhbmRpbmclM0QxJTI2YXV0b2hpZGUlM0QxJTI2c2hvd2luZm8lM0QwJTI2Y29udHJvbHMlM0QwJTIyJTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3dmdWxsc2NyZWVuJTNFJTNDJTJGaWZyYW1lJTNFJTNDJTJGZGl2JTNF[/vc_raw_html][vc_row fluid=”yes”][vc_row_inner][vc_column_inner]
Schedule Your Free Consultation
If you would like to schedule a time to speak with Closers Group, please complete the information below.
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[/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][rs_space height=”16px”]When it comes to growth in law firms, there are really only 3 sources of new business. They are:- Clients
- Referrals
- Prospects
A law firm should derive at least 50% of its new business every year coming from clients and referrals. This new business indicates a client’s recognition of high quality work and on-going awareness of relationship building.
It also results in more work from recent and past clients and demonstrates their willingness to refer business and contacts. While many firms focus on generating new clients, we urge our clients to strive for the 50% factor that most tend to overlook: past clients.
If you’re unsure of how to start, consider 3 important questions:
1. Who do I need to reconnect with?
2. How many client retention meetings can I set this month? And with whom?
3. What upcoming events can I attend and invite clients to join?
At the Closers Group, we help law firms close more new business rapidly using a variety of business development tactics just like these.[rs_space height=”16px”]
Marketing for Marketers Series
Only 3 Sources of New Business
Rainmaking Does Not Start Outside
27% Have Been Terminated by In House Counsel
[rs_space height=”16px”]
What Did Not Work in Business Development II
Continuing from our previous post on “What Did Not Work in Business Development”, we hear more comments from in-house counsel about business development tactics where many fail:
7. Go to a prospect/client presentation and not getting names of all attendees;
8. Choosing the wrong medium to communicate i.e. email vs. phone;
9. Surprising client with late breaking information;
10. Lack of business etiquette – during a meeting using iPhone or Blackberry, taking calls, or being the “potted plant”, not engaging in the meeting.
11. Sending out cold call materials;
12. Not being prepared for meeting;
13. Not following up with clients at sponsored events.
Business Development Tactics
In case you missed the previous post, you can find it here.
Knowing how their business / organization works is critical before pursuing them for new business. You and your colleagues should ask and answer the following questions before you begin to pursue current, recent, or prospective clients.
Who is the decision-maker?
What other firms/companies are they using now?
When was the last time they hired a new firm or purchased a new product?
Do they prefer to communicate by phone or email?
What have you done recently to build a relationship with them?
Have you asked ahead of time who else will be attending the meeting?
Do you offer periodic review meetings regarding budgets, billing, timelines for the engagement process, and report format?
Do you know their pain?
How will financial decisions be made?