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Legal Marketing Association Midwest Chapter Annual Conference Chicago, IL September 9, 2011. 11 Ways To Improve Business Development. William J. Flannery, J.D. The WJF Institute. 11 Ways To Improve Business Development. Segment your market into four sectors: Key clients

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11 ways to improve business development

Legal Marketing Association

Midwest Chapter Annual Conference

Chicago, IL

September 9, 2011

11 Ways To ImproveBusiness Development

William J. Flannery, J.D.

The WJF Institute


11 ways to improve business development1
11 Ways To Improve Business Development

  • Segment your market into four sectors:

    • Key clients

    • All the rest of the clients

    • New clients

    • Others



11 ways to improve business development2
11 Ways To Improve Business Development Business Development Efforts

  • Key clients of the firm need to have client-focused teams that have standard metrics for performance.


Client relationship manager team status report
Client Relationship Manager Team Status Report Business Development Efforts

Brief Description of the Goals of The Plan

- Original Goals

- Updated Goals

Revenue For The Team

- Past

- Projected

- Current Revenue Rate (YTD)

- Realization

Practice Group Utilization

- Original Usage

- Current Expansion

- Projected


Client relationship manager team status report contd
Client Relationship Manager Team Status Report - Contd. Business Development Efforts

Client’s Level of Satisfaction With The Firm

- Past

- Current

- Continuous Improvement Plan

Competitive Activity

Resources Needed

Team Status

Next Milestone / Meeting


11 ways to improve business development3
11 Ways To Improve Business Development Business Development Efforts

  • The client-focused team members need to have effective business development skills, especially face-to-face business development skills.


11 ways to improve business development4
11 Ways To Improve Business Development Business Development Efforts

  • The firm needs to have a firm-wide business development process in place to grow market share within key clients.


Your firm s client and business development process
Your Firm’s Client and Business Development Process Business Development Efforts

Plan

Plan, Organize in Teams,

Research, Goals, CSIP

Styles, Pace

Priorities

Process Information

Perceptions

Client Focused Service Improvement Plans

Communicate Solutions

And Benefits In Presentations,

Proposals and Meetings

Rapport and Trust Building

Build Relationships

Transfer Trust

Interview

Design

Solutions

Process Questions

Decision

Retain Client New Business New Client

Rule: The Successful Firms Will Need To Adopt and Adapt A Firm-Wide Client Development and

Relationship Management Process.


11 ways to improve business development5
11 Ways To Improve Business Development Business Development Efforts

  • Marketing and business development needs to be fully integrated.


11 ways to improve business development

How Buyers Buy Business Development EffortsLaw Firm’s Actions

  • Marketing

  • Business Development

Awareness

Interest

Desire

Hire

Rule: Your Mission In Marketing and Business Development Is To Change The Buyer’s Behavior.


11 ways to improve business development6
11 Ways To Improve Business Development Business Development Efforts

  • Each client-focused team will need to have a firm-wide standardized planning process for driving to greater and more profitable market share.


11 ways to improve business development

Goals


11 ways to improve business development7
11 Ways To Improve Business Development Business Development Efforts

  • The client-focused team members will need to have a high level of inter-partner trust and collaborative team skills.


11 ways to improve business development8
11 Ways To Improve Business Development Business Development Efforts

8. The firm will need clear data on opportunity by client, current market share by client, practice area, and geography, etc…


Flannery flannery l l p annual revenue history in 000
FLANNERY & FLANNERY, L.L.P. Business Development EffortsAnnual Revenue History in $000


11 ways to improve business development

Flannery LLP Business Development EffortsKey Client Revenue Analysis$000


11 ways to improve business development9
11 Ways To Improve Business Development Business Development Efforts

  • There will need to be a long term formal change process in place to become more client-focused using client-focused teams. Bust silos and change the culture.


11 ways to improve business development

Where To Focus Firm Efforts Business Development EffortsSteps To Success

  • Building strong relationships, face-to-face

  • Discovering and developing client needs

  • Enhancing business and financial skills

  • Using the WJF Institute CD&RM Process

  • Firm-wide business development approach

  • Trained client-focused teams

  • Technology support for teams

  • Accountability and measurement systems

  • Client interviewing and team management

  • Leading and selecting client teams

  • Increasing profitable market share

  • Specific plans for each opportunity

  • Client, industry and geographic focus

  • Driving client loyalty

  • Increasing the use of more practice areas

  • Client team status reporting systems

  • Evaluate team performance and leadership

  • Evaluate client profitability

  • Change recognition and compensation

  • Financial plans and controls

Individual Skills

CD&RM Workshop

Team Skills

Lead & Manage Business Dev.

Using Key Client Teams

Client-Focused Plan

Development

CSIP Day

Law Firm

Management Overview

Team Status Report


11 ways to improve business development10
11 Ways To Improve Business Development Business Development Efforts

  • The marketing/business development professionals will need a new set of skills to get lawyers to do business development.

  • The firm’s leadership needs to have a formal inspection process and metrics for business development to compare performance.


11 ways to improve business development

Thank You! Business Development Efforts

Please send us your comments:William J. Flannery, J.D.The WJF Institute11044 Research BoulevardBuilding A, Suite 110Austin, TX 78759

512-338-1758Fax 512-219-1200flannery@wjfinstitute.comwww.wjfinstitute.com