Marketing and business development strategies with the ... · Marketing and business development...

Marketing and business development

strategies with the most impact

Larry Cattle

Marketing and business development consultant

Law Society Consulting

Agenda

• Standing out in a crowded market

• Using the right communication channels

• The power of coffee

• The importance of strategy

Agenda

• Standing out in a crowded market

– as a firm

– as a practice

• Using the right communication channels

• The power of coffee

• The importance of strategy

Standing out in a crowded market

“Pecha Kucha” slide presentation

Standing out in a crowded market

Huge market – £25bn, 2% GDP

2%

18%

80%

Total law firms = 11,000+

25+ Partners

4-24 Partners

1-3 Partners

High Street

Title of slide 32 pt Trebuchet •

24pt T

rebuchet

Quality?

Price?

Location?

Accessibility?

Approachability?

Friendliness?

Reputation?

Recommendation?

Agenda

• Standing out in a crowded market

– as a firm

– as a practice

• Using the right communication channels

• The power of coffee

• The importance of strategy

Observations for property law firms

and property lawyers

Observations for property law firms

and property lawyers

The market

• Mature market

• Few new laws

• The smallest can now compete with the largest

• Commoditisation creeping across all areas

• Client loyalty has weakened

How to stand out?

Observations for property law firms

and property lawyers

How to stand out?

• More perceived value from your offering

• Offer relevant specialisms

• Proactively help clients’ challenges outside the law

• Flexible pricing

• More commercial approach

Agenda

• Standing out in a crowded market

• Using the right communication channels

• The power of coffee

• The importance of strategy

Using the right communication

channels

Exercise

Agenda

• Standing out in a crowded market

• Using the right communication channels

• The power of coffee

• The importance of strategy

Managing Partners and Senior Partners in countless law firms:

“If only we could get our people to do more business

development”

Engaging in more business

development

A few extra cups

of coffee…

Project Connect™

Objectives

• To generate as many extra coffee meetings as possible

• To involve all fee earners in the firm, from Partners to

Graduates

All because we want more business development

activity than usual

If we get some instructions that’s a bonus!

The task

• All fee earners submit 5 – 10 targets

• Targets determined by agreed criteria

• Each fee earners sets off to try to get as many coffees

as possible

Summary – Client 3

(Property business)

Fee earners participating:

Target contacts:

Target contacts activated:

146

1355

724

Measuring with the coffee filter

How have we done so far?

929

205

(22%)

67

(7%)

201

(22%)

281

(30%)

71

(8%)

57

(6%)

47

(5%)

Summary

Fee earners participating: 146

Target contacts: 1355

Target contacts activated: 724

Total fees: £XX,000

How do we compare?

Not

started

No

reply

Reply Coffee 1 Coffee

2 and

+’s

Good

lead/

pitch/

referral

Instruction

Firm 3

22% 7% 22% 30% 8% 6% 5%

Firm 1

42% 13% 11% 11% 7% 12% 4%

Firm 2

23% 26% 17% 18% 9% 3% 4%

The Law Society Excellence Awards

Excellence in Marketing and Business Development

This award went to the most innovative, creative and

inspiring business development campaign executed by a

law firm or in-house legal department.

Project Connect™

Project Connect™

Could it work in your firm?

Observations for property law firms

and property lawyers

Project Connect™ and coffee meetings

• Importance of face to face

• Client conversations

• Listening time

• Client relationships

• What matters most to clients

• Suited to high levels of activity

Agenda

• Standing out in a crowded market

• Using the right communication channels

• The power of coffee

• The importance of strategy

Using a strategic planning approach

•Where are we now…where do we want to get to?

•Clarity of journey

•What gets measured…..

•Motivating for all involved

So, remember….

• Find your differentiator

• Shout your message out loudly and consistently

• Have more conversations with clients

• Stay strategic

And above all….

• Drink more coffee!