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Self-service sales
Creating a culture of self-service where lawyers have access to all the information, collateral and secretarial support will encourage selling and enable it to happen at all levels in your firm. By giving lawyers direct access to the building blocks of any successful sales communication (boilerplate text, a database of deals, case studies, 3rd party endorsements, rankings, templates and CVs) they can create what they need quickly and be more reactive when opportunities arise, as well as learn quickly what works.
Get in touch if you would like to hear about the self-service approaches that have worked in several leading law firms. |
Get in touch!
Record Associates undertakes interim support and project consulting to law firms on:
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sales campaigns
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bid improvement
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pricing
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market segmentation
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client listening
Contact us on:
+44 (0)7811 811 269 or
or visit our website at:
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| Greetings!
Arguably leadership and business development teams have never had such a clear opportunity to evolve the sales culture within law firms. With "sales" now becoming a term which firms are starting to get comfortable with, how can the fundamental step of improved market definition be used to drive effective sales effort and get a firm acting with common goals?
Successful businesses, most of whom are not blessed with the high margins generated in law firms, have a clear view of the markets they serve, the products that those markets need and their price proposition. |
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Define the markets you serve
The multi-product nature of law firms is such that they serve a huge variety of different markets. Defining (and then prioritising) what these markets are is a chance to align different groups of lawyers on a common and measurable goal, as well as develop a clear commercial and pricing proposition.
Improved market definition will also assist management teams define the firm wide strategy, when recruiting lateral hires and consider mergers.
The definition of your markets should include factors which clients measure your performance by. This movement away from internally focused measures to those that are critical to the client's business will help everyone, from partner to PA, to contribute to service delivery and marketing efforts more effectively. The maxim "What matters to clients gets done" could never be more accurate. Get in touch if you would like to know how you can do this. |
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Client focused measures
A recent Record Associates project compared the prices quoted in 276 corporate transactions with what was finally billed. Over 75% of these transactions exceeded the quote by an average of 21%. Although the measures you select to gauge how satisfied clients are with your services will vary from market to market (and indeed across different work types), focusing your legal teams on the areas that really matter to clients will quickly build client loyalty and referred business.
Increasingly sophisticated legal buyers, whether in-house legal, finance or commercial, have measures in place to determine the success of a particular project so try to align how you deliver your service to their measures. And if you don't know what they are, then ask them during the pitch or scoping phase. Record Associates can help you define measures such as meeting budget projections, turnaround times, up-skilling in-house teams or contribution to client's commercial thinking. |
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Free Pricing seminar
If you would like a free one hour seminar on how your BD team can work more effectively with legal teams to help them define the price they should charge for their services, get in touch.
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