Creating a sales culture: law firm business development and sales
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LMA Los Angeles, February 2011
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Creating a sales culture: law firm business development and sales
- 1. Creating a sales culture: a discussion of law firm business development and sales Hans Haglund Mike Krenn Adam Stock David Freeman
- 2. BACKGROUND
- 5. Agenda Bootstrapping the process Direct sales Client teams, reviews & feedback Tracking success Other thoughts
- 6. BOOTSTRAPPING THE PROCESS What are the challenges? How do I get started? Who are our clients? What are our capabilities?
- 7. CHALLENGES Marketing vs. business development Compensation models Limited resources
- 8. Who are our clients? Client information
- 9. Who are our clients? Business Trends Competitive Intelligence
- 10. What services do we provide? Services we provide
- 11. What services do we provide?
- 12. What services do we provide?
- 13. What services do we provide?
- 14. What services do we provide?
- 15. DIRECT SALES What is the state of the industry? How do I get started? How do I pick targets? What tools do I use? What are the challenges?
- 16. Getting into the marketplace Private Equity Landscape: Trends and Developments to Follow in 2010 European Restructurings - Distressed Debt and M&A Opportunities An Executive Roundtable Featuring Leading Experts in Finance and Law Registered Direct and At-the- Market Equity Offerings: Trends for Raising Capital in 2010
- 17. CLIENT TEAMS, REVIEWS & FEEDBACK What is the state of the industry? How do I get started? How do I pick targets? What tools do I use? What are the challenges?
- 18. Top 200 clients account for 60-85% of revenue 0 200 Typical distribution of revenues for top 200
- 19. Client reviews v. Client teams Client Review Client Team • 1-2 times/year • 4-10 times/year • A review and • Pursuit process inspection process • Interdisciplinary • May turn into a team client team • High growth • About bringing full potential resources of the • Many contact points firm to the client • Pursuit oriented • Service oriented
- 21. There is no substitute for asking your clients Every client has different specific needs: Responsiveness Billing detail and formats Budgets and summaries Bench strength Business referrals Education Etc. Find out what the needs are and address them
- 22. TRACKING SUCCESS
- 25. OTHER THOUGHTS