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Robert SawhneyManaging Director SRC Associates Ltd
14th June 2010
1www.srchk.com
The Power of Context
• Experiment at Princeton University in the US• Good Samaritans (seminarians of The Princeton
Theological Seminary) were asked to deliver a short talk on the bible at a nearby venue
• The Samaritans split into two groups: one told they were late, the other told they were a few minutes early
• Variable: ‘victim’ outside building• 68% of the early group stopped to help, only 10%
of the late group?• (Source: The Tipping Point by Malcolm Gladwell)
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What is Marketing? – it ain’t this!
• Many studies of the legal profession show that the emphasis has moved away from law firm marketing and to where it should be: business development.
• Marketing is "nice to have," and includes competitive intelligence, CRM, branding, newsletters and e-newsletters, advertising, public relations, brochures, directories and sponsorships. But today, what law firms "have to have" is sales: lawyers and professionals who can open new matters, bring in new files and attract new business (source: Larry Bodine, US based consultant)
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Me arguing with someone!
• http://www.thenewlawyer.com.au/article/firm-marketing-inspires-email-vitriol/493687.aspx#comments
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Marketing and market orientation: the relationship with BD and fee earners
Culture :
‘a business is market oriented when its culture is systematically and entirely committed to the continuous creation of superior customer value’
‘market orientation is the organization wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments, and organization wide responsiveness to it’
Behaviours:
Intelligence generation
Intelligence dissemination
Firm wide responsiveness to intelligence
Manifestations:
Marketing associated initiatives – services, branding, CRM, pricing, STP, differentiation, promotion…
BD - one to one activities of sales with targeted prospects, informed conversations…
Fee Earners – client orientation and understanding of needs, , talking from a perspective of knowledge, job satisfaction and firm commitment…
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The Problem in PSFs
• Marketing and marketers lack perceived value due to professionals limited understanding of what marketing is and supposed to do
• Marketers who lack influence • Low trust of marketers and the information they
produce• Marketing and BD lumped together• Focus on tactical marketing and BD activities without
sufficient knowledge and market driven structure in place
• Vicious cycle of declining impact of marketing and BD with growing disdain of professionals
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The Value Proposition: How marketing and BD add value and contribute to success in Asia Pacific professional services firms
(source: Roundtable Consulting, APSMA 2009)
• A significant gap – only 31% of respondents strongly agreed that marketing and business development are a valued part of their organisation
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Firstly, the view of clients
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The Integration Imperative
• Fee earners product
• Know who and know where and know what
Intellectual capital
• Appropriate value
• Value perceptions
Clients
• Financial
• Non financial
Firm performance
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Go anywhere they like, do anything they like, expect
anything they like, and over promise to clients
MarketingBD
A Law Firm View
• Barlow Lyde & Gilbert has laid off three of its five business development personnel as part of an ongoing internal restructuring in the UK
• Chief executive officer David Jabbari said: "I am not a fan of traditional marketing departments in law firms. I accept the need for expert support and high-level research in some areas, but there is much that should be owned and managed directly by fee earners. Business development is a fundamental responsibility of fee earners that should not be delegated.“
• The three employees' functions have been taken over by 10 professional support lawyers
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The Model of Change
Mind Set
• Marketing is everyone’s job
• Articulate the new meaning of marketing, marketing processes, and BD
Build Structure
• Identify and develop the collaborative relationships and skills that will be needed in this new culture and how working processes are best structured
Practice What You Preach
• The new ‘rules’ must be lived and breathed by everyone involved
• Senior partners must be on board and committed
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Build Structure – what to build? (adapted from
Lowe, S (2009) The Integration Imperative, Professional Services Books, Concord)
1. The right processes
2. The right skills
3. The right support
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The Right Processes
Business strategy and
strategic marketing
Processes
Build a market driven culture based on knowledge
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•Identify strategic clients•Acquire and retain
strategic clients•Build revenues with
these groups in line with client value and firm
strategy
The Right Skills
Business strategy and
strategic marketing
Processes
Skills
Build a market driven culture
based on knowledge
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For Fee Earners•Thought leader and
industry expertise•Trusted partner for
clients based on understanding client
value and new dialogues
For M + BD Staff•Lead continuous
integration of efforts through exhibited
benefit, metrics, and KPIs
•Become voice of influence and
recognised expert
The Right Support
Processes
Skills
Support
Build a market driven culture
based on knowledge
Business strategy and
strategic marketing
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HR – recruitment, retention,
evaluation, KPIs, training
Finance – pricing, profitability, budgeting
IT – technology and CRM systems, SEO,
data mining etcM+BD – train fee
earners, implementation of
marketing strategies and
tactics, research, voice of client
Case Study – Perkins+Will (global architectural and design firm)
• Services deployed through various practices (architectural, interiors, urban design) and industries (health care, science and tech)
• Development of internal silos, lack of big picture delivery for clients• Goal – integrate all expertise = holistic design• CEO – ‘build a culture of innovation and deliver client value through
interdisciplinary teams working in an integrated model’• Set up sub group from various practices and functions – dual
internal and external focus• Researched 10 firms in different industries which were known for
their integrated strategy and operations• Realised they needed ‘T’ people and thinking, different dialogue
with client• Delivering interdisciplinary design as embedded value • Board of directors approved initiative and the process began with a
significant internal education programme
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We Know This – it’s the knowing doing gap!
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(Source: The Value Proposition: How marketing
and BD add value and contribute to success in Asia Pacific professional services
firms Roundtable Consulting, APSMA, 2009)
Thank You!• If you want copies of the any of the reports or research cited
here, please don’t hesitate to contact me:
• [email protected], www.srchk.com
• Blog: www.marketingasia.typepad.com
• Twitter: http://twitter.com/robertsawhney
• My latest book: Available from Lexis Nexis in Hong Kong and other Asian offices or www.amazon.com
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