Business Development Strategy archive

Traditional advertising: a wasteland for professional services business development

October 14, 2015 | Posted in: Business Development Strategy

I hoped our 2015 research into Australasian law firms marketing and BD activities would show that advertising in traditional media (print, billboard, radio, TV) was finally dead. But our data shows that plenty of firms are still persisting with advertising, despite knowing it doesn’t work. Preliminary research findings reveal that advertising in traditional media is […]

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By Alice Vuong

Measuring client satisfaction – a win-win-win situation

Preliminary results from our research study with ALPMA, Winning work in a digital world, indicate that 64% of Australasian law firms do not have formal processes in place to measure client satisfaction. This means more than half of firms surveyed spend time, money and effort to win work and clients, but fail to follow-up in […]

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Is digital lead generation right for your professional services firm?

September 16, 2015 | Posted in: Business Development Strategy | Tags:

Digital lead generation – or using digital channels to generate interest in your services and guide potential clients into your sales pipeline – is a highly popular approach to business development, for some very good reasons. As I discussed in an earlier post, we’re now past the tipping point for all things digital. With the […]

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We’re taking everyone to Fiji!

July 22, 2015 | Posted in: Business Development Strategy | Tags:

How one professional services firm changed their culture and had their most profitable year yet. Recently, JMA visited a regional professional services firm success story, Hunter Financial Planning Group, and spoke with CEO and Director, Brian Kennaugh. In five short years Brian, business partner Phil Smith, and the HFP team have reshaped what was a typical, […]

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Scoping work simply

July 8, 2015 | Posted in: Business Development Strategy | Tags:

Scoping and estimating professional services can be hard work. It’s an important skill for professionals to cultivate, as clients are increasingly demanding alternatives to the billable hour.  And alternative pricing options are tricky to work through and develop if you don’t have a good understanding of your real costs to begin with. We see many firms, when asked […]

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Digital marketing: are you still stuck in a material world?

March 11, 2015 | Posted in: Business Development Strategy | Tags: ,

In 1984, Madonna sang about living in a material world, but some thirty years later we’re well and truly living in a digital world. When it comes to marketing, you may still be clinging to that material world. If your firm has neglected or underinvested in digital marketing, 2015 is the year to get real. […]

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By Guest Blogger

Can a full service law firm survive in a digital age?

Our guest blogger is Jim Thompson, digital marketing expert and Director of One Rabbit. Imagine that you are a full service law firm offering the standard gamut of services to a broad spectrum of market segments and industries. You are made up of a number of partners and people who are experts in their particular fields. You […]

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7 marketing and business development musts for law firm prosperity in 2015

Our recent Taking the Pulse research with ALPMA found that firms with “well-developed” or “sophisticated” marketing and business development (BD) functions were generally more successful and had a better financial outlook (51% reported fee revenues of $10M + a year, and 43% expected more than 10% revenue growth) than firms with less sophisticated, or “under-developed” […]

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By Alistair Marshall

Guarantee your firm a bigger, better and brighter 2015

December 3, 2014 | Posted in: Business Development Strategy

2015 will only be better if you take action to make it better. I can hear the excuses already: “I’m too busy”, “I need more time”, “I need more money”, “I’ll just wait until the market improves”, “I’ll wait until I get lucky”, and so on. People are always waiting for the perfect time to […]

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Just another undifferentiated fish in the sea: What you don’t want your firm to be!

November 19, 2014 | Posted in: Business Development Strategy | Tags: ,

In our recent research study into the state of business development and marketing in Australasian law firms, we invited respondents to describe the biggest marketing or business development challenge faced by their firm. Many respondents identified the struggle to positively differentiate from competitors as their biggest challenge. Several respondents elaborated: “we are undifferentiated generalists in […]

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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 […]