Business Development Strategy archive

By Lilla Smee

5 steps to a successful marketing strategy

August 24, 2016 | Posted in: Business Development Strategy | Tags:

The most profitable professional services firms understand that a successful marketing strategy is part of everything they do; it’s a coordinated process, not just a series of campaigns. Just like politicians who stay on message, the most successful firms have focus: from cultivating referral relationships to tweeting, each activity is aligned to the overall goals […]

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Perceived advantage in professional services

July 27, 2016 | Posted in: Business Development Strategy

Maybe you’re one of those fortunate professionals who has such a stand out service to offer that it’s clearly technically superior, demonstrably better, and so reported by objective analysts and high-profile “industry authorities”.  You and your firm have no trouble attracting, winning, growing and retaining right-fit clients. More likely, the professional services you offer – […]

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By Lilla Smee

Pricing lessons from a Big Six pricing specialist

June 29, 2016 | Posted in: Business Development Strategy | Tags:

With the ever-increasing debate around hourly billing and alternatives, and savvier and more demanding clients, professional services firms – and in particular, law firms – need to get smarter about how to manage pricing if they are to remain profitable. It seems inevitable in some areas of law (insurance, property) that it’s simply a race […]

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By Alistair Marshall

How to get more work from existing clients

June 1, 2016 | Posted in: Business Development Strategy

When trying to develop new business in professional services, always go to your existing clients first. Why? Because they already have a relationship with you and they believe in your service. Many firms mistakenly overlook existing clients when they try to source new work. The return on investment from targeting your existing clients who know […]

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By Alice Vuong

Generate new business with positive WOM

May 18, 2016 | Posted in: Business Development Strategy | Tags:

Having advocates for your firm, services, and people is extremely powerful. Positive Word-of-Mouth (WOM) is a highly effective and low cost way to generate new business for your professional services firm. Our Winning Work in a Digital World research results indicated that word-of-mouth or personal relationships were the second-highest source of new business enquiries for […]

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By Lilla Smee

Is your firm website working for you?

May 4, 2016 | Posted in: Business Development Strategy | Tags: ,

Last year, our research into digital marketing and business development indicated that only 13% of Australasian law firms have websites that are highly effective at generating new business enquiries. At its best, this is what your professional services firm website should be doing. Form or substance? If you think your professional services firm website needs […]

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Why second place can be better than first

April 20, 2016 | Posted in: Business Development Strategy | Tags:

Back in 1962, car hire company Avis was struggling. They had only 11% market share, and hadn’t turned a profit in 13 years. Under the direction of new CEO Robert Townsend, the company launched their famous campaign theme of being number two in the market, with the slogan “We try harder”, drawing positive attention to […]

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The emerging (and powerful) buyer in B2B

March 9, 2016 | Posted in: Business Development Strategy

Millennials – the largest generation since the Baby Boomers – are quickly becoming the key target of B2B marketers. Much has been written about Millennials in B2C as the most educated, tech-savvy, connected, thrifty, and socially and environmentally conscious. However, little has focussed on B2B – this is about to change, and needs to. We’re […]

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Marketing and business development toolkit for 2016

February 10, 2016 | Posted in: Business Development Strategy | Tags:

What activities and approaches should be in your professional services firm’s marketing and business development toolkit for 2016? We’ve created a handy infographic comparing old and new tools. Old ways are not necessarily the wrong way, but there are newer – and often more effective – activities that are worth considering, and which might just prove the […]

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Standing out from the crowd

It’s tough to stand out from your competition and keep great clients plus attract new ones.  And it doesn’t help when professionals so often put their marketing communication efforts  –  and dollars  –  into making themselves part of the crowd rather than standing out. Does your firm stand out? Our recently released benchmarking research found […]

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Feature article

Closed or invitation only tenders, bids and proposals

Closed or invitation only tenders, bids and proposals

Firstly, what are closed or invitation only tenders, bids and proposals? In addition to the generally well-understood terms ‘tender’, ‘bid’ and ‘proposal’, there are ‘open’ and ‘closed’ processes, and then variations within each that can apply to professional services procurement. Open or public tenders, bids and proposals An open tender is just that, open to […]