ICON would like to say a big thank you to John van der Luit-Drummond, the Legal 500 Asia Pacific Editor, for taking time this week to tell our Singapore chapter how law firms can maximise their coverage in his highly influential guide. Here Annabel Bowen, BD Manager with Pinsent Masons MPillay and ICON Singapore Committee member, asks John for his key points. You can also find his detailed advice in writing, which includes his contacts if you have any more queries. Continue reading...
January is traditionally a month for making New Year's resolutions, so it seems fitting that ICON Singapore kicked off its 'Lunchtime Learning' sessions for 2018 with a talk on practical ways for marketers to jump start their career development in the months ahead.
The CEO of HR consulting firm 4D Performance, Dr Indigo Triplett, gave a candid presentation to ICON on the difficulties of "moving from the middle to the top" in the workplace. Continue reading...
The ICON community pulled off another great event, with more than 200 members and friends coming together for the annual Australia & New Zealand conference at the Sheraton on the Park hotel in Sydney on 18–20 October. The theme was i+U+WE Connect.
This article captures key takeaways and offers links for further reading. Continue reading...
"The future belongs to those who can form lasting relationships, not technocrats." That was the provocative opening line from psychologist and neurobiologist Dr Bob Murray to a thought-provoking day at ICON's inaugural full-day Melbourne Forum on 15 June 2017.
Organised by ICON's Victorian committee and hosted by Herbert Smith Freehills, the conference attracted about 60 members, featured more than 10 speakers and traversed themes ranging from digital disruption and storytelling to innovation, crisis communications, design thinking and professional motivation.
But why did we all really take a day out of our busy schedules to attend the forum? Was it the facts, figures and lessons on best practice? The chance to meet up with peers? The superb freshly cooked doughnuts at Herbert Smith Freehills or the even better drinks at Mon Bijou in Melbourne’s iconic Flinders Lane?
We'd all like to think it was the education, of course. And the day did deliver many insights. Continue reading...
You’ve heard about the impending new brand and new name for APSMA. And you’ve read about the strategic imperatives for doing it. Well, the suspense is over. All of the member feedback, the focus group workshops, the stakeholder consultations, the strategy discussions and the creative process have all led us to today. On behalf of the APSMA Board, I am delighted to present to you - ICON - your network for B2B Professionals.
This post follows beaton’s joint webinar with APSMA on 22 November 2016. During this webinar, Paul Hugh-Jones (Partner, beaton) and George Beaton (Executive Chairman, beaton) discussed trends in client buying behaviour, best practice in client centricity and why becoming more client centric will improve your firm’s financial performance. Continue reading...
Collaboration is infamously difficult to foster in professional services firms. People are doggedly competitive and want to reap the full financial reward of their own intellectual and origination efforts. Unfortunately, this works against the ambitions of the firms they are a part of. Today, individual expertise is effectively a commodity that clients can easily replace if they find another firm offering it at a better price. Getting people to collaborate, on the other hand, means firms can offer multi-disciplinary teams that are able to tackle a client’s most complex problems. And that joint expertise is both more valuable to the client and much more difficult to replicate or seek out in a rival firm.
But how do you get a group of individuals who have been trained since the beginning of their career to compete (and win) to share work and build collaborative teams? Read here.
Cultural tendencies have a profound impact on the interaction of individuals and groups from different societies. Cultural Intelligence (CQ) refers to the ability to recognize these unique characteristics as a means of evaluating and improving effectiveness in inter-cultural situations.
The world has moved from IQ to EQ to CQ, but how does CQ differ from IQ and EQ? Read it here.
Please click here to access summary of the APSMA Asia Annual Conference: Navigate - 2016 APSMA Asia Annual Conference Takeaways
Sue-Ella Prodonovich recently ran a valuable session for APSMA's New Zealand Chapter covering BD ideas and philosophies to help fee-earners to build a book of business. It got me thinking, have we got our BD approach all wrong? Read Kirsten Hogdson's full feedback here.
Law firms need to start looking for smarter ways to engage with their clients. These days, people are bombarded by marketing emails. Despite this, effective email marketing that delivers tailored and interesting content remains one of the best ways of engaging and retaining clients. A recent report shows 70% of consumers expect email to be in use 10 years from now and 72.1% of 25-34 years olds are bullish about it. Read here the Tikit guide for law firms and legal practitioners.
One of the big trends we have seen across the professions over recent years has been for firms changing their 'go to market strategy' from an internal product focus (expertise/ service line/ practice group) to a client centric view of the world (industry sector/ market).
And the benefit is clear, as the 2016 beatonbenchmarksTM research shows that firms with the strongest industry reputations are winning more work, because this is a key driver of choice across law, accounting, engineering and management consulting professions.
In this article, former APSMA Board Member and beaton Partner Paul Hugh-Jones looks at why industry experience and reputation wins work and what this means for developing and executing your firm’s industry strategy.
Simon Holliday, a 10-year L&D veteran for firms including Herbert Smith Freehills and Norton Rose Fulbright, was guest speaker at our “Sink or swim - building personal resilience at work and beyond” lunch seminar in Hong Kong on 12th May 2016.
Simon has designed and delivered courses for a demanding community of lawyers, accountants, bankers, insurers and marketing specialists and this experience, together with his personal experience of swimming the English Channel and the Pearl River Delta from Hong Kong to Macau, renders Simon an authority on the subject of resilience.
Defined as "moving forward in the face of difficulty", Simon explored the facets of resilience. His key takeaways and message are defined in his presentation, and you can also watch this short video of his epic journey across the Pearl River Delta here: https://www.youtube.com/watch?v=uzbZ6zHnq58
Legal services may seem an unlikely candidate for digital disruption, but the industry is not immune from disruption generated by cloud, data analytics and e-commerce technologies. In this traditional industry, digital is enabling previously unthinkable practices such as offshoring and 'dial a lawyer' style models, where specialists are joining in‐house teams on secondment for short‐term contracts. Read more about how should law firms respond to digital disruption in this article from Campbell Jackson, National Professional Services Leader, EY written for APSMA members.
Inbound marketing and marketing automation are two of the latest buzzwords in the marketing community and for good reason. Done effectively, and used together, they can help you get on the radars of more of your ideal prospects and ensure you stay there until they are ready to buy your services and keep your existing clients engaged via segmented client-only content. Continue reading APSMA Board Member Kirsten Hodgson's guide...
Five years ago, I can still remember the meeting well. I’d been asked to represent a firm in its negotiations with a client to settle a new pricing deal. The meeting started off pleasantly enough with the senior Partner from the firm and the General Counsel waxing lyrical about the value of relationships and the importance of trust. Acolytes on both sides of the table nodded enthusiastically as if to reinforce the merits of each statement their leaders made.
In this article, sales expert and Monte Rosa Director Wayne Stewart compares past and present procurement strategies and how the current pricing evolution affects you.
Client listening is the “new black” in sales as tight markets force the re-evaluation of approaches. When it comes to listening, most of us need to learn how to stop talking. Dale Bryce is the immediate past President of APSMA and the Director, Customer Strategy and Market Development at consulting engineering firm Entura. In his time he has helped a number of professional services firms win more of the work they want to win. In doing so, he has introduced client listening programs, and been amazed what clients will tell you if the context is right. Read his full story here.
Did you know that in Mainland China, doing business is as much about the friendship and personal relationship you establish as it is about the business relationship? The Chinese coin the term for this "Guanxi", and it is a fundamental dynamic in what is described as "personalized networks of influence". Guanxi is founded on "implicit mutual obligations, reciprocity and trust", requiring salespeople to be personal, patient, tenacious and connected.
In his first thought leadership article as President, Alex Grell takes this opportunity to share insights from our members across the Region. Continue reading...
Take the time to consider your firm’s mobile strategy a little broader than just a conversation about “responsiveness.” In working with law firms both nationally and internationally, I can announce that the profession and the industry at large has now conceded that they need to be online. No, really! Click here to read the full article from Dan Toombs.
If we are in the professional services industry, what are we in business to do? It seems like such a simple question. If we happen to be a partner in a law firm, we are in the business of law. If we are an auditor in an accountancy firm we are, of course, you might say, in the business of providing audits. If we are a doctor, we are in the business of medicine. And so on. It all seems so obvious. Click here to read the full article of Dr. Bob Murray, PhD.
How to position your firm for the next big thing Major initiatives such as city-wide infrastructure projects and regulatory reforms can be a big source of high-value work for professionals. But how can you ensure your firm has a seat at the table well before you read the headlines? Grant Butler from Editor Group explains. Click here to download the full article by Grant Butler.
Linking Business Development to Compensation In recent years, as client fee pressure has increased and client loyalty has decreased, law firms are investing significant time and money in business development programs. Some partners receive training to dust off selling skills that were largely unnecessary during a time of plenty. Other partners receive training, then individualised coaching, then more training, then more coaching, in an often-futile attempt to turn everyone into a capable rainmaker. Click here to read the full article.
Video is consistently ranked as one of the most powerful forms of marketing communication, with 8 out of 10 B2B marketers planning to increase their use of video content in the coming year. However, cost and know-how are regularly cited as the biggest barriers to using video more widely – despite the tools and technology becoming more accessible and less expensive. Click here to download the full article.
This piece is designed to help you assist the professionals you work with to harness the power of LinkedIn to grow their practices. In order to benefit from the platform professionals need to recognise that it's about more than simply setting up a profile – it's about using this tool purposefully and integrating it with your existing BD and marketing initiatives, to achieve superior results.
One of the greatest challenges professional services marketers will face during coming years is how they respond to the consolidation of the market. However, it is this shifting industry dynamic that could ironically bring with it the greatest opportunities for those marketers working outside the global elite. Click here to read the full article.
In today's constantly evolving market landscape, one thing remains constant: the need for professional service firms to have a practical framework for account management to position them for future success. Click here to read the full article.
Why firms need a lifestyle change, not a crash diet! Some firms will soar in these challenging times, some will just get by and some may well disappear. Those that fly will be the ones that lead, and don’t just manage their way through this dynamic period. Firms with real leaders actively embrace the strategic changes that are needed and take the rest of the firm along with them for the ride. Click here to read the full article.