PRACTICAL TECHNIQUES FOR TARGETING NEW CLIENTS
Duration: 1 day
"How to make sure you invest time and money in the right prospects and get a return"
Business development is an increasingly important part of a fee earner's role and for partners it can be a significant aspect of their work. But they still need to earn the fees. Balancing time spent getting the work with time spent doing the work is a constant source of conflict for many individuals in professional firms. Unfortunately there is no 'quick fix'. New clients are not won using the mass marketing techniques that work for other products and services. Clients are gained one by one based on the relationship between the client and the lawyer.
The key to success in business development is being in the right place at the right time with a proposition that meets the client's needs. This requires a sustained and systematic effort, which is well illustrated by recent research in the professional sector.
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73% buyers say "no" up to 5 times
92% sellers give up before the 5th "no" and look for other prospects
8% buyers who are persistent win 73% of the sales
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Time is a precious resource in professional firms and cannot be wasted in business development activities that will provide, at best, limited return and, at worst, no return at all.
Common pitfalls of business development in a professional firm include:
- Fee earner time is spent on speaking to people who have neither the influence or the power to buy legal services.
- Individuals concentrate on organisations that are of limited value to the firm and so neglect those organisations, which are of importance.
- Pressure on fee earning results in fee earner activity being adhoc and opportunities are often missed because they weren't 'front of mind' with the client when they were buying.
- Insufficient time is devoted to planning and preparation and opportunities are missed through lack of information about the client's needs.
This course concentrates on practical techniques to enable fee earners to get a greater return on the time they invest in business development. It will:
- Ensure valuable and limited fee earner time is spent where the return will be most valuable.
- Ensure New Client Development is managed in a systematic and sustained way in order to fully exploit all the opportunities.
- Enable you to make contact with the organisations with which you want to do business.
· Enable you to plan and implement the most effective activities for developing relationships with key contacts.
Objectives
By the end of the course delegates will understand and know how to apply the techniques for successful new client development.
Content
- Introductions
- Targeting new clients
- Building effective client relationships
- Developing a persuasive argument
- Making the first contact
- Keeping in touch and raising fee earner's profile
This course teaches a combination of strategic concepts and planning processes that delegates can use to help them develop new client business. The overriding objective is to provide practical suggestions to enable individual fee earners to be effective.
To achieve this, the programme is structured as a workshop and as delegates are introduced to each of the concepts and techniques, they will apply them to their own prospective new clients.
Who should attend
Marketing professionals and partners and fee earners involved in Business Development
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To
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