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Guide to Marketing and Business Development

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  Marketing and business development Practice support Guide to  Marketing and business development guide | Version 1.0 | 23/06/2011 – page 2Queensland Law Society This guide aims to : ã explain marketing and business development and how they can assist legal practices ã provide an overview of key marketing activities, and ã outline how selling techniques and approaches can assist lawyers. Acknowledgements Parts of this guide are taken or adapted from the Law Management Section (LMS) Business Development Toolkit  produced by the Law Society of England and Wales. These parts were earlier authored by the primary author of the QLS guide, and are reproduced here with permission. Enquiries/comments to: Giles Watson Manager, Practice Support, Queensland Law Society p 07 3842 5853 g.watson@qls.com.au  Marketing and business development guide | Version 1.0 | 23/06/2011 – page 3Queensland Law Society Table of Contents Introduction 1. Introduction to marketing and business development ......................................................42. Planning and budgeting ........................................................................................................93. Smaller practices .................................................................................................................15 Creating new opportunities 4. Creating new opportunities .................................................................................................195. Referrals .................................................................................................................................216. Networking ............................................................................................................................267. Branding, reputation and positioning .................................................................................308. The promotional mix .............................................................................................................35 Converting opportunities 9. Sales and sales management .............................................................................................4010. Competitive tendering .........................................................................................................5011. Pricing and fees ....................................................................................................................57 Managing client relationships 12. Client relationship management ........................................................................................6513. Client service ........................................................................................................................69 Appendices: Forms and templates Appendix one: Indicative marketing plan template ..............................................................75Appendix two: Key client tracking template ..........................................................................79Appendix three: New opportunities tracking template .........................................................80Appendix four: Monthly activity chart ......................................................................................81 Appendix ve: Client engagement form and new client tracking template ............................................................................................82Appendix six: Client satisfaction survey ..................................................................................83  Marketing and business development guide | Version 1.0 | 23/06/2011 – page 4Queensland Law Society 1. Introduction to marketing and business development Marketing in professional service rms Marketing and business development are key to running a successful legal practice. Law rm management, and particularly law rm marketing, is increasingly more ambitious, competitive and aggressive. Practices that do not meet new challenges, such as increased competition among law rms and growing sophistication from buyers of legal services, will nd themselves struggling to maintain revenues from areas of work that previously provided a regular stream of income. The role of marketing and business development in professional service rms has, however, been questioned. Much of the debate has centred on myths about marketing, with many confusing marketing with inappropriate forms of selling or advertising, questioning the cost and return on investment of marketing activities.Some professionals still seem to have a negative view of marketing. This may be due to a desire to distance themselves from commercialism. This attitude appears to have come from a fear that marketing will devalue their business and have a negative impact on client perceptions of their business and themselves as a professional.Increasingly, however solicitors are undertaking marketing activities whether they recognise it or not. Lawyers, like many other professionals, have come to realise that they cannot be complacent and hope that work will just come through the door. Rather, they need to be strategic about obtaining and retaining clients if they are to maintain and grow their business in an increasingly competitive environment.There are still relatively few professionals who proactively seek to develop their marketing or business development skills. Furthermore, many professionals view time spent marketing, rather than on fee-earning work, as wasted time. Challenges in the current environment The scope of law rm marketing has revolutionised over the past 20 years. The drivers for this include: ã changes to professional rules on marketing and promotion ã increased competition among law rms and from other professional and commercial service providers ã increasingly demanding and sophisticated buyers of legal services – both domestic and commercial ã the growth of major national law rmsã the arrival of professional services marketing specialists as either consultants or retained in house in law rmsã the development of a professional services marketing industry in the form of books, magazines, events, specialist recruiters and forums leading to a wealth of accumulated knowledge and advice ã the growth of new technologies, and ã regulatory changes. ◄ Back to contents

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