Is your business development suffering?

November 6, 2015

4541For law firms struggling with growing new business, there is a learning curve marketing leaders (both attorneys and professionals) need to lead.  It is not magic at all.  Rather, experience shows that a group of common problems lead to a lack of new business  growth.  Your answers to the following dilemmas will guide you to more revenue, more clients and more open doors.

  • Are the number of new engagements per client dropping?
  • How many long-term clients are no longer using your firm?
  • Is there an absence of cross-marketing?
  • Do you have “under – utilized assets” such as internal marketing, sharing of published articles and speeches with all attorneys?
  • Have you identified the missing hidden opportunities i.e. building marketing alliances?
  • What under – valued relationships exist, such as a strong referral base?
  • Are successful performing assets being redeployed?
  • Who is keeping current with the speed of market changes and technology?
  • Is there a contact and follow-up system format being used by all?
  • Does the firm have a brand, core strategy and message being used by all attorneys and professionals, including administrative staff and paralegals?
  • Are pitch performances inconsistent?  Are they being practiced and evaluated?
  • When is the last time proposal content was updated and refined?
  • Is the business development performance by practice groups or offices erratic?
  • How consistent are client management training and communication approaches?
  • Do you have a management “go-no-go” system, along with pre-pitch practice and post-mortem reviews of pitches, proposals, etc.
  • What is the cost of new client acquisition?
  • Are your attorneys, with the help of marketing professionals, multiplying or repurposing the use of presentations, articles, PowerPoints, social media ?
  • And do you really know what your competitors are doing?

As these critical questions indicate, the role of law firm marketing professionals and marketing partners needs to change.  Finding answers to these common problems where they exist in your firms, will lead you to more revenue, more clients and more open doors.