To download the post-conference report, please click here.
Shifting the focus: do we have our BD approach all wrong?
Sue-Ella Prodonovich recently ran a valuable session for APSMA’s Auckland 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?
Why firms with the leading industry reputations win
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 beatonbenchmarks™ 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.
This article looks at why industry experience and reputation wins work and what this means for developing and executing your firm’s industry strategy.
Paul Hugh-Jones is an APSMA board member and a partner at beaton Research + Consulting. He was previously CMO as Mallesons and Ashurst.
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 ‘16.
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. Please click here to read more, 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
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:
Kirsten specialises in helping firms to grow their practices via inbound marketing and by harnessing the power of LinkedIn. She’s spent the past 16 years working in and with professional services firms in the UK, New Zealand and Australia.
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.
Fifteen minutes in and the General Counsel looked to the senior Partner stating “Enough with the pleasantries, shall we let them get down to business?” And suddenly in a whirl of swivel chairs and suit jackets everyone left for lunch leaving a tired-looking procurement manager and myself to find some sort of agreement.
Sales – Step 1: Shut Up and Listen: Dale Bryce
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.
February 2016When in Rome…. a sales and marketing trip (with tips!) around the APSMA chapters of Asia!: Alex Grell
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 our increasingly globally connected world it is critical we understand what drives buying decisions in markets outside our own. As an Asia-Pacific marketing and business development organisation, APSMA is in a unique to position to work with organisations from a multitude of different cultures. In my first thought leadership article as President, I wanted to take this opportunity to share insights with you from our members across the Region and connect you to the markets in which your clients operate.
Time to think "mobile": Dan Toombs
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 on the link to read the full article.
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 on the link to read the full article.
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 on the link to download the full article.
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 individualized coaching, then more training, then more coaching, in an often-futile attempt to turn everyone into a capable rainmak.
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 on the link 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.
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 on the PDF to download and 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 on the PDF to download and read the full article.