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Embracing Business Development to Help Secure More Business from Current and Prospective ClientsAdam Severson
Director of Business Development & Marketing
Faegre & Benson LLP
• Business Development & Marketing Continuum
• Day-to-day implementation• Alignment with firm strategy• Building your personal network
Discussion Topics
Client Focused Approach
Awareness and Reputation
IdentityAdvertising
Public relationsSponsorships
Website
Who We Are (or Want to be Seen As)
AWAREN
ESS MARKE
TIN
G
Business Development & Marketing Continuum
AWAREN
ESS
MARKE
TIN
G
Awareness and Reputation
IdentityAdvertising
Public relationsSponsorships
Website
Who We Are (or Want to be Seen As)
Marketing
Speaking engagementsBylines and expert sourcing
Newsletters and alerts Targeted relationship events
Practice or industry participation
Specific and market focused
PREFER
ENC
E
BIZ
DEV
Business Development & Marketing Continuum
AWAREN
ESS MARKE
TIN
G
Awareness and Reputation
IdentityAdvertising
Public relationsSponsorships
Website
Who We Are (or Want to be Seen As)
Marketing
Speaking engagementsBylines and expert sourcing
Newsletters and alerts Targeted relationship events
Practice or industry participation
Specific and market focused
BD
Client teams/plans “Pitches” & Proposals
Competitive IntellSelling
Account and Opportunity Pursuit
PREFER
ENC
E
BIZ
DEV
Business Development & Marketing ContinuumPoints of Contact
1,000
100
10
Day-to-day implementation
• Create a list of clients and prospects to target in the coming year– Include current clients within your practice, similar
practices and the firm generally– Identify specific prospects with whom there is
strong likelihood of success – Consider factors that drive their buying decisions
Develop a target list
• Identify:− Top 25 clients of your practice− Top 25 clients of adjacent/similar practice− Top 100 firm clients (with their respective
practices and relationship lawyers) • External research
Develop a target list
Develop a target listClient Lead
LawyerColleague Goals/
NextStepsNotes
ABC Company
JK BW, VJ • Growpatent work • Unclear on decision makers•Need more information
Mr. & Mrs. Smitn
DK RK • Get to know broader team• Schedule networking event with their patent team
• Indicated they’re slowing down their applications dramatically
Smith Medical
BW AE, SR • Get new litigation
… … … … …… … … … …… … … … …
Partner with your IR TeamClient Industry Public/
PrivateHQ # of Employees Revenue Lit.
TrendsM&A Trends
ABC Company
Mr. & Mrs. Smith
Day-to-day implementation
Day-to-day implementation
• Clients receive too many client alerts– Recommend added context or substance to firm
communications• Make sure you provide context or value when
communicating with your lawyers– Provide a helpful hint or bit of analysis when
forward research or sending an RSVP list
Day-to-day implementation
Day-to-day implementation
• Establish metrics for your work– Events– Alerts– RFPs– Web stats– New matter descriptions– Budget savings
Alignment with firm strategy
Alignment with firm strategy
• Ask questions of your lawyers to understand a project more completely and to get the big picture
• Talk with your leadership to understand firm goals and strategic vision
• Ask how you can help support those goals
Building your personal network
Building your personal network
• Meet people at various levels• Ask questions to learn from them
– Don’t be afraid to ask for help• Face-to-face is better than other methods• Follow up
Questions?
Adam SeversonDirector of Business Development & MarketingFaegre & Benson LLP