In the strategy sessions we have run so far this year, covering organisations involved in such diverse areas as law, accounting, recruitment and engineering, I have stressed the importance of really understanding the client issues that you can help solve. It is very empowering to be able to verbalise and write down how you can help people and organisations overcome their difficulties. If you cannot do this, it becomes very difficult to sell what you do.
It should be remembered that clients do not buy professional services, they buy the RESULT of what they do.
You must be able to demonstrate to clients, prospects and referrers alike, how engaging you will impact their lives for the better.
It is therefore hugely valuable to physically write down a list of problems that a potential client may have, that you can assist them with.
To give you an example, here is a list of 20 potential issues that professional firms might have that PSBD can help with. Do some self diagnosis. How many are you suffering from.
A few partners/fee earners generate the majority of the new business.
2. We have little point of difference and so struggle to stand out in the marketplace as we struggle to verbalise how we are better than similar competing firms.
3. We rely heavily on ‘word of mouth’ to grow revenues and have less than 10 ways to generate new business leads. To make matters worse, staff very rarely ask for referrals as they don’t know how or when to do it.
4. Cross selling is a goal of the practice, but it doesn’t seem to happen.
5. Fee earners consider themselves technical experts rather than marketers or worse, salespeople.
6. We attend and host networking events but achieve very little.
7. We don’t maximise the potential of the latest technologies available such as blogs, podcasts, online video, social media etc
8. The firm does a lot of marketing via seminars, brochures, sports tickets, sponsorships, PR and advertising but can’t track any specific client to the initiatives.
9. The website produces few leads and little new business.
10. We find it difficult to get in front of potential new clients and struggle to turn leads into fee paying work.
11. Many staff are willing to market but don’t know what to do.
12. We have a written marketing plan but struggle to put it into action.
13. The business does not premeditatedly identify industries where it has experience or expertise, with the aim of pursuing specific clients in those industries.
14. We find it difficult to prove our expertise and show our track record in our field so we don’t win as much of the ‘quality’ work available as we should.
15. No formal referral strategy in place with joint venture partners.
16. We are competing in an increasingly price competitive market where we are discounting regularly to win work. Our margins are therefore not as good as we would like.
17. Business development does not come up in appraisal meetings as it is not part of our culture.
18. There are no incentives or bonus for generating new business.
19. Few partners/fee earners have individual business plans in writing.
20. Not running at full capacity due to less frequent or reduced client spend. We do not have much income from proactively reaching out to potential new clients.
Now you get the idea, sit down with your key stakeholders and compile your own list. If you have multiple departments and service offerings you will need to make a different list for each group. If you are struggling to work this out for yourselves, pick up the phone to a client or two and ask them!
Once you have your list, I suggest you start writing it down in places where people can easily access it. Start with your website, brochures, online bio and LinkedIn profile.
If you are having difficulties with more than half of the 20 problems on the example list, then pick up the phone to us and we can explore how we might help you.
Over to you.