A survey of 1600 companies, with turnovers between £1 and £50 million across manufacturing, retailing and service industries, produced by accountants Levy Gee in June 1994 has some fairly disconcerting findings.
The survey, entitled 'The role of professional advisers and the changing requirements of business', found that almost 50% of businesses believed that they were not getting value for money from the service provided by their solicitors.Despite the proliferation of marketing and advice, articles, conferences, in-house marketers, external consultants and a rain forest of reports, brochures, initiatives and good intentions from firms of all sizes, it is clear that a majority of law firms have not grasped the 'marketing culture' in terms of delivery of their service to their clients.We are not talking here about technical 'performance', in fact, as you would expect, solicitors and accountants scored highly here compared to other professions.
Our session will deal not with the business we do but the much more important issue of how we do business.In the light of these market perceptions we will be showing our audience how to win and retain new business with the help of a real 'client'.
How to maintain that client, expand and extend the relationship and obtain more work, whilst providing levels of value that meet the client's expectations.We will be asking our audience to become the marketing committee of an imaginary law firm which has targeted our 'client'.
They will be advising us, as the marketing professionals, how they would obtain, maintain and retain the client within a particular time frame.
Our 'client' will be on hand to comment and criticise on the initiatives developed by the firm.Continued pressure on fee levels, increasing competition amongst law firms and other providers of legal services, together with a greater sophistication and expectation amongst clients has led to surplus supply over demand in many markets served by the legal profession.To improve profitability, firms must comprehend the critical importance of anticipatory communication, understanding the service needs and particular business or personal circumstances of our clients are a natural part of the relationship between the solicitor and client.
These are not activities to be fitted in during a quiet moment.
Firms that fail to seize and effectively act upon this crucial message will find the quiet moments for them are getting longer and longer.Paul Jaffa.-- Perceptions.
Paternalistic assumptions: small companies somehow to be looked down upon; think of them as specialist; think of them as maturing/growing with you; difference between SMEs and SMMEs; small companies may provide goods for blue chip companies.Professional assumptions: that solicitor s are better qualified and better 'class' than business people in 'trade'; business people often very well qualified and experienced, just as much as solicitors; and come from all backgrounds-- Myth of money.
It suits government and other agencies to perpetuate the myth that business is now lean, fit and healthy, this is not true.
How healthy is a skeleton?Money in industry is still extremely tight.
Projects are delayed for years through lack of cash.
Many SMMEs are selling their products for less than ten years ago in order to survive.
If they get more orders they have cash flow difficulties.Why should they pay through the nose for 'expert' help which is often of poor standard and with little result, often being demanded for higher rates per day than they pay themselves.
Why should they pay exorbitant fees so you can sit in a luxury office while they have to do without? Ritzy, expensive offices often repel rather than impress.
It comes under the category of 'bullshit' which will be seen for what it is straight away.
They have all been taken for a ride by banks, solicitors, accountants or consultants at some time in their professional lives and are very cynical and wary.-- Marketing tips.
They value good working relationships as a camaraderie exists amongst them and they will often rate very highly the recommendation of a respected associate.Don't waste their time.
Time is money and, thank you, they do not have time for business lunches.
Flowers, wine or a small desk calendar might be more effective (and cheaper) marketing ploys.Fax flyers often get through to an individual when the same item by post would be filed in the round floor level receptacle.Early morning is often a better time for an arranged visit rather than later in the day when pressure mounts.
(Many engineering companies still start at 7.30 or 8am.)Think in terms of networking.
Can clients benefit from getting to know each other through you? Could you ask a client to host a short seminar by yourself? If it meant you bringing other clients to him or her with the possibility of further business for them all (and you of course).Chambers of commerce, Federation of Small Businesses, WIBA, WIMA, IOD, are all happy hunting grounds for raising your background profile and getting your name known, not for the direct hard sell.The solicitor who will get my business again is the one who gave his services free when he knew that the bank was playing bully boy tactics with me and attempting to take every penny I had.
He also wrote a two-line letter to say how pleased he was to hear that I had started up again.
He was the only 'expert' who did not use the problems created by the recession to rip me off.
Mr Holland this is a public thank you.
Your profession should be proud of you.The solicitor who will not be getting my business again is the one who itemised reading a letter from me as a charge and was so slow that she allowed a villain to get off the hook.All business transactions rely on an element of trust.
It takes a long while to build up but can be destroyed overnight by lies, deception or greed.
Your reputation for personal integrity is priceless.When a small company appoints you if things do not work out it may mean just another lost client to you.
For them it may mean a loss of their business and livelihood.Brenda Sharp.
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