Getting results: how well does your firm sell itself?

There’s an old song, originally made famous back in the 1930s by Ella Fitzgerald, which goes: ‘It ain’t what you do, it’s the way that you do it – that’s what gets results.’

As with many other classic lyrics, these words have a timeless quality: in this case they have a particular relevance to the way in which law firms implement successful sales strategies. Regardless of whether the focus is on generating new clients, retaining and developing existing clients or – more commonly – both, too often firms fail to convert excellent goals and objectives into practical and attainable sales plans.

And the reasons are not hard to find. A common failing is that law firms concentrate on what they want to do, rather than how they will achieve it. The result, unsurprisingly, is a lot of business development effort delivering results that fall way short of expectations. Opportunities are missed along the way and that business which is secured is often less profitable than it could and should be.

As the commercial environment has become tougher and the buying process more professional, so providers of goods and services in every sector have had to respond.

Traditionally, the approach of lawyers to business development has been essentially reactive, in other words that of an order-taker or relying more on being the client’s ‘friend’. While the ability to be both of these is important, in today’s more competitive environment – and in the face of a more informed, organised and promiscuous customer base – success requires a more skilled and consultative sales approach.

But while, in one sense, this requires a fundamental change in mindset across the practice as a whole, there are a number of simple steps at key points of the business development process which can make a dramatic difference to success rates in securing desired profitable business.

A systematic and robust (though not complex) methodology is necessary to target those client organisations which will be the most profitable. One commonly used in professional services looks at two key factors to score prospective clients. In establishing ‘strategic fit’, questions to be asked include: do our strengths correlate with their requirements? Are they operating in growth markets? Would the client’s reputation enhance ours? What is their market position? Similarly, suitable questions to determine desirability include: what is their legal spend? Can we cross-sell? What is the risk of bad debt? What competition do we have to overcome?

Such an analysis will soon distinguish clients who should be spotlighted as a top priority from those from whom you should steer well clear.

Next, it is crucial to identify who within the organisation can influence the decision to buy and then target them.

Within today’s increasingly complex buying structures, there will typically be up to three groups who may impact on the purchasing decision: the so-called economic buyer (increasingly the procurement department), the end-user of the service, and the adviser/introducer (a key influencer). Each of these will have distinct interests, needs and objectives: as a result, the lawyer’s strategy must be to identify and address each of these audiences.

All available research points to the fact that individuals who ask questions are demonstrably more successful in selling high-value services than those who don’t. Quite simply, successful sellers ask between three and five more questions than less successful sellers.

Why is this? Questions work because they help identify clients’ needs, which in turn means that subsequent conversations can focus on what is most relevant to the client in achieving a successful sales outcome. At the same time, tactically it can deflect attention away from price and, in creating the springboard for a longer-term relationship, it can demonstrate an empathy and interest in the client’s business.

Selection criteria play a critical role in influencing the client’s buying decision. So be proactive in finding out what these are in every case, as understanding and then influencing clients’ selection criteria provides the most obvious opportunity to differentiate your firm from its main competitors. And if you can influence these criteria this will further strengthen your competitive advantage.

Do not assume from past history that you know what these are. Technical capability, for example, is now a given. Similarly, in the purchase of high-value services, fees rarely figure at the top of the list in influencing the buyer’s decision. Much more important today in comparing and evaluating law firms are such factors as sector expertise, responsiveness, access to information and location.

A written proposal will almost certainly be required at some point. This should concentrate on showing that you understand the issues the client faces, to provide a solution which effectively meets their needs. Just as technical expertise was yesterday’s differentiator, so the historic feature-dumping style which still opens – and dominates – so many proposals is a real switch-off for clients.

Presentations should be interesting, relevant, easy to follow and easy to understand. If acronyms help you focus on what needs to be done, try the SIEVE list to help you adopt verbal techniques that can improve the persuasive power of your presentations:

S – structure your presentation to make it easier to follow, including signposting and summarising;

I – integrate, by making sure your presentation focuses on the client’s needs to make it relevant;

E – use examples and illustrations to make it easier to understand;

V – vary the pitch, pace and volume to engage with your audience;

E – add emphasis through language and vocal variation to enhance the impact of your presentation.

And remember, visual aids will add impact and increase recall – in presentations, a picture really is worth a thousand words.

The decision to instruct a lawyer may take some time, we all know that. So be proactive and find reasons to stay in regular contact – with information on legislative or market changes perhaps – and so remain ‘front of mind’ at the point when a decision is taken. The trick here is to stay persistent without becoming a nuisance.

In summary, implementing a successful sales strategy demands a sustained and systematic approach underlined by sound processes. This needs to be driven centrally – and not piecemeal by different departments – if your firm is to benefit fully from its business development efforts.

Kate Fleming is a director of HuthwaiteFleming, a legal-focused sales and business development consultancy