Six highlights from CLT’s Business Development for Lawyers training coursePosted on: October 22, 2014
Yesterday, I led another training session for CLT on Business Development for Lawyers in London.
The session takes delegates on the journey from analysing their markets and services, setting goals, selecting appropriate strategies and creating integrated marketing, communications, sales and relationship management campaigns.
As usual, the nature of the delegates’ firms and practice areas were diverse – some promoted consumer and others commercial legal services, some were in multi-site offices whereas others were in single offices, some were extremely sophisticated in their marketing and some were more traditional although most admitted that their knowledge and use of digital marketing and social media was limited.
As always, I asked them what they found most valuable during the day and this was their response:
1. Listen to the market and clients – There was acknowledgement that too much attention was paid to internal issues (what do we want to sell?) and that there was a need to listen more to the market and to specific client perceptions, needs and feedback (what do they want to buy and how?). The need to deploy active listening skills in the sales process was also discussed later in the day.
2. Use a structured process and plan – Delegates felt more confident having a process (Where are we now? What are the key issues? Where do we want to be? How will we get there?) to follow to support their thinking and the development of plans. They also found it helpful to break down their planned activity into stages that follow the sales cycle:
- Market analysis – segmentation and targeting
- Service development and pricing
- Competitive positioning and differentiation
- Profile raising
- Lead generation
- Selling, conversion and new business development
- Existing client management
- Referrer development
3. Get granular with goal setting – One exercise involved taking overall fee (and profit) targets and breaking them down into revenue from existing referrers/clients and from new clients – and from different channels. We also broke the targets down into the various combinations of volume and value of cases to make it easier to select the appropriate strategies. This was extended to examine the sales pipeline so that we knew how many enquiries, meetings, quotes/estimates and conversions were needed to achieve these targets. There was also some lively discussion about the need to set targets for non-chargeable time – or, as we put it, time that generates income and profit for the future rather than today.
4. Make brave strategic choices – Most agreed that it would enhance their business development effectiveness once they had established a clear direction and made the necessary choices (based on analysis) to focus efforts. They found it helpful to think about strategies for existing and new clients, the use of different channels to market and the development of plans to develop new services and new markets. There were some great ideas generated about how to adopt a more innovative approach to identifying client segments and packaging up new services.
5. Involve the team – Everyone could see the value in involving other team members in the strategic analysis and planning to encourage participation and increase motivation to act. They liked the idea of building campaigns that integrated activities such as research, analysis, targeting, digital marketing, content development, seminars, events, networking and meetings so that lawyers could choose activities that played to their strengths and preferences. And those that weren’t up to technology solutions agreed to use old-tech (e.g. wall charts) to write and monitor planned and focused activities.
6. Remember the “social” in social media – Whilst almost everyone had LinkedIn profiles and Twitter accounts, few were using them for much beyond “broadcasting” news from their firms and teams. We explored ways in which social media could accelerate “word of mouth” recommendations and how risks could be managed. We spent some time looking at how we could be more interactive by liking and sharing other people’s content, engaging in dialogue with new contacts when they connected and in efficiently maintaining contact with a wide range of clients and referrers. Several delegates promised to download the apps onto their smart phones so that they could use “dead” time to scan their feeds to keep them up to date (and acting on) with developments in markets and at their major clients and referrers.
Further details: http://www.clt.co.uk/course/Business-Development-for-Lawyers/
- Referrer management: How can I increase the strength of my relationship with referrers and intermediaries?
- How do I use Twitter?
- How do I market a family law practice?
- How do I improve my rankings in the legal directories?
- Is social media relevant for lawyers, accountants and surveyors?
- What do I do with only a limited marketing budget?
- What is thought leadership and why is it so important?
- Why should lawyers accountants surveyors and other professionals devote time to blogging?
- How are lawyers accountants and surveyors using social media in a more advanced way?
- CRM success statistics from Freshfields
- Case study (Law firm marketing) - Mishcon de Reya
- Law firms still missing a trick with apps?
- Book Review: Valuable content marketing by Sonja Jefferson and Sharon Tanton
- Legal Marketing Case study - Withy King's research/media relations campaign
- Selling Skills for the Professions
- Lawyers and the Professions
- Conference review: CLT’s “Managing and marketing a profitable private client practice” 2013
- Legal marketing case study: Focused newsletters at the heart of client relationship and events programmes at Aaron & Partners
- Book Review – “Google+ for business – How Google’s Social Network Changes Everything” by Chris Brogan
- Improve marketing campaign management for professional service firms
- Law firm financial benchmarking - report for small and medium sized solicitor practices from NatWest
- Book review: Rainmakers and Trailblazers – A practical step-by-step guide to effective business development for lawyers showing how their support teams can help
- Legal marketing case study: Irwin Mitchell combines DR advertising, online promotion and brand building
- How can a lawyer become more effective at business development?
- How do I integrate social media into my business development?
- Legal Marketing Case Study: "Hot on family law" at Rayden Solicitors
- Half year review of law firm strategy and finance
- Two book reviews – For “Rainmakers and Trailblazers: Business Development for Lawyers”
- Integrating the sales pipeline and client relationship management
- Book review - Rainmakers and Trailblazers: A step by step guide to Business development for lawyers
- Cross selling – the dream versus the reality
- Book review - Rainmakers and Trailblazers (Business development for lawyers) by DWF
- Book review - Rainmakers (Business Development for lawyers) by Geoffrey Lander
- Clown fish? Book review of "Rainmakers and Trailblazers: Business Development for Lawyers" by Charles Christian
- Marketing Technology – To automate or not to automate legal pitch and tender documents? (Enable’s PitchPerfect system)
- Business development for professional service firms – Summary of MBL seminar
- Book review: Effective client management in professional services – How to build effective client relationships by Jack Berkovi
- Seven insights into client care and service excellence
- The power of three in personal introductions (BrandMe)
- Introducing client portfolio management with dinosaurs – Be more T Rex (Video)
- How do I improve my web site performance in search engines (SEO)?
- 7 tips to being a great conference chair
- Update on digital marketing and social media in the professions (May 2015)
- Digital marketing and social media in the legal sector update – Law Society and The Lawyer
- Book review – Insight selling by Mike Schultz and John E Doerr
- Referrer management – what do you do when you can’t reciprocate work referrals?
- Legal market research – Perceptions and needs of consumers and small businesses
- What makes a good marketing campaign?
- Linking pipeline and portfolio management to avoid strategic drift
- Ten tips on cross-selling – Boosting internal networks
- Lawyers find campaign management most valuable tool
- 16 ways to remember names when networking
- 10 top tips for targeting – bring focus to your sales efforts
- Not so much “Pimp My Ride” but “Niche My Market” (Law firm niche marketing)
- 3 themes from marketing planning – Stepping stones, persuasion and momentum
- Book review: How to be great at the stuff you hate: The straight talking guide to persuading, networking and selling By Nick Davies
- Legal marketing case study: Improving referrals through reward systems at Keystone Law
- Legal marketing case studies – Strategy and relationship management at Bird & Bird, DLA Piper, Mills & Reeve and Obelisk
- Legal market research – Mobile apps in law firms 2017
- Client Relationship Management (CRM) for local government lawyers
- Professional selling tips
- Improving referrer management in the professions – research into referrer relationships
- Be more T Rex - Client management with dinosaurs
- Personality assessment as part of the coaching and development process
- Where do I start? Business Development for Lawyers (MBL Private Client Training July 2015)
- Business development for lawyers – Pipelines, relationship management and international marketing (October 2017)
- 10 steps to create a business development campaign
- From Jesse J to Einstein - ROI in professional service firm marketing and business development
- Speaking and Lecturing
- Rainmakers and Trailblazers – Business development for lawyers
Category: Kim's Blog, Lawyers, Marketing, Social Media, Strategy
Tagged: Analysis, Business Development, Campaign Management, Campaigns, events, Goal setting, Lawyers, Marketing, Objectives, Social Media, Strategic planning, Strategy, Team, Training