1. Delaware Valley Law Firm Marketing Group Sally Schmidt, Schmidt Marketing, Inc. November 28, 2006

2. Selling vs. Marketing  Identifying targets  Researching targets  Developing the sales strategy  Drafting boilerplate proposals or pitches  Drafting customized proposals or pitches  Going on business development calls

3. Marketing vs. Sales  Two schools of thought…

4. Marketing: Strategic Umbrella

5. Marketing and Sales: Separate but Intertwined Functions MarketingSales

6. Positioning vs. Business Development  Positioning: Making the “short list”  Business development/Sales: Relationships

7. Client Development Process  Awareness  Perception of Expertise  Relationship  Retention  Expansion

8. The Disconnect  Seminar  Newsletter  Client event  Web site  Materials  Public relations  Advertising Business in the door

9. The Seminar: Marketing vs. Sales  Develop concept  Issue invitations  Make logistic arrangements  Create materials  Prepare presentations and PowerPoint slides  Prepare evaluation form  Determine the target audience  Engage them—pre- survey  Engage them at the meeting  Survey their reactions/needs  Follow up in a meaningful way

10. Seminar Follow Up—Business Development Style  Passive/ineffective: “Thank you for coming” letter  Active/effective: Host follow-up roundtables Offer to give an on-site workshop Send follow-up information on the seminar topic Send a related form, worksheet or article

11. Moving from “Mass” to “One-on- One” Seminar Roundtable One-on-one

12. The Missing Link: Think SMALL  Seminar  Newsletter  Client event  Web site  Organizational membership  Roundtable  Targeted advisory  Client-specific workshop  Listserver  Board or committee

13. What Law Firms Are Doing in Business Development

14. Staffing  Directors of Business Development  Sales personnel  Business Development Managers— linked to revenue-producing units  Sales support functions

15. BD/Sales Support Functions  Research and analysis/Competitive intelligence  Proposal writing  Database/CRM  Pitch assistance  Coaching  Training

16. Improving Lawyers’ Skills  Coaching: One-on-one coaching assistance  Mentors: Partner assignments  Training: Associates Partners  Peer groups

17. Internal Organization  Creating teams: Client teams Target or SWAT teams  Tweaking the compensation system  Establishing intranet pages for business development

18. Increasing Your Value to the Firm through Business Development  In the recent LMA compensation survey, those who listed “business development” as their primary function made, on average, $7,500 more than “generalists”

19. Assist in Preparing Proposals/ Presentations  Contact the prospective client  Conduct research on the organization  Talk through the strategy or pitch  Put together drafts, gather up materials or review written materials (e.g., edit, reformat)  Conduct a rehearsal/Videotape  Follow up with the client  Debrief the lawyers

20. Counsel the Professionals  Learn how business is developed for that practice  Talk through opportunities  Ask good questions  Present ideas or initiatives  Counsel on follow up

21. Support the Lawyers’ Business Development Skills  Set up training programs: Preparing proposals Making presentations or pitches Contacts and networking Identifying needs/Listening skills  Set up marketing mentor programs  Establish dynamic programs to get people involved—involve, don’t educate

22. Identify and Follow Up with Prospects  Identify good prospects: Clients—for cross selling New business opportunities  Establish good follow-up programs: Seminar attendees Get togethers with referral sources Web site inquiries

23. Sample: Gap Analysis CorporateLitigationTaxEmploymentReal EstateIntellectual Property Estate Plan Client A$570,000$860,000$60,000$50,000$37,000$120,000$25,000 Client B$1,200,000$50,000 Client C$170,000$30,000$25,000$35,000 Client D$300,000$100,000$30,000$18,000$60,000$10,000

24. Contact Clients  Post mortems on projects: How did we do? What did we learn? What else can we do to help?  Client surveys  Focus groups  Client panels  Client teams

25. In short…  More emphasis on: Strategy Client contact/Business development Follow up  Less emphasis on: Tactics Communications Reacting

26. Focusing on Business Development: 15 Ideas  Make recommendations about who attends suites, golf outings, etc.  Request and analyze the list of top clients each year  Review new client reports  Learn your “product”: Attend practice or industry group meetings, take your “clients” to lunch

27. Focusing on Business Development: 15 Ideas  Provide intelligence: markets, clients, opportunities, competitors (e.g., information feeds)  Track ROI and business development contacts and successes (e.g., proposals)  Put people together—be the conduit  Survey your clients (the lawyers)

28. Focusing on Business Development: 15 Ideas  Customize proposals—no more boilerplate  Synthesize information for the lawyers  Learn how to make effective presentations  Network with marketing directors of other companies/clients

29. Focusing on Business Development: 15 Ideas  Engage the firm’s targets—surveys, blogs, offers, listservers, etc. (Permission Marketing)  Be active personally (e.g., civic, professional associations, network)  Learn the economics of the practice

30. Conclusion: Tips for Personal Success

31.  Help one partner develop one client  Be enthusiastic—it goes a long way toward success  Be realistic  Start with those who are interested  Start small—one target team  Start with low-hanging fruit Tips for Personal Success

32.  Be relentless with your follow up: Lists of follow-up tasks Lists of to do’s E-mail reminders Running lists of contacts or targets Tips for Personal Success

33. Questions/Discussion