How do smarter firms & their fee earners win more business?

21st October 2011 A workshop facilitated by Bernard Savage, Managing Director

Technical expertise is not enough

You must juggle responsibilities

Technical delivery Selling (Marketing & Business Development)

Team responsibilities

What will we cover today?Today’s objectives

To give you the confidence, focus & actionyou need to take to turn relationships into business

Tenandahalf story

1986 - 1990 1990 - 2000 2000 - 2002

2002 - 2004 2005 -

How to Sell Professional

Services

Module 1

“how you think about business development will to a large extent determine the outcome” Bernard Savage

What attributes do you need to sell professional services? What attributes do you need to sell ?

Positive attitude

Do you “engineer serendipity”?

Are you enthusiastic & passionate in your conversations?

People buy from people

FocusHow clearly can you describe your targets?

What does success look like for you?

How is your activity connected to your marketing plan?

Are you fishing in the right ponds?

Excellent communication

Are you actively listening to your clients?

Do you really understand what the market wants?

How much time do you spend listening to your clients?

Drive

Enthusiasm and energy is infectious

Follow a systemWhat system are you using to attract new business?

How many conversations you need to generate potential opportunities?

It’s a numbers game!

Cold Prospects (identified as having potentially great potential)

Warm Leads

Opportunities

Proposals & Quotes

New Customers

Goal orientated

What gets measured gets done

Keep it simple, easy to maintain, & transparent

Take action

So what?How you are wired – how you feel about selling – will determine your success

Do you really want to adopt a winning mindset ?

Make a commitment and talk to yourself!

Remove scepticism and cynicism

Think positively and talk to yourself

Be disciplined and banish all hindering thoughts

Adopt new habits

Use CATs to boost confidence

“Come on you can do it!”

“I’m determined to get this done”

“Keep smiling”

“I’ve done this before – I can do it again!”

“Stay confident”

“Think of the benefits when

you finish”

Positive Capability Affirming Thoughts (CATs)

“I will make that phone call

NOW”

“I am going to enjoy this

event”

Winners all apply psychology to build on their technical excellence

Focus on making small steps

What does marketing activity this month look like?

How many conversations do you need to have this week?

Who do you need to contact today?

Break down your plans into bite sized goals

BIG GOAL: Run Marathon (26.2 miles) One year from today

Key Milestone 23 miles 11 months

Key Milestone 19 miles 9 months

Key Milestone 13 miles 7 months

Key Milestone 9 miles 5 months

Key Milestone 4 miles 3 months

Understanding how professional service buyers think & behave

People buy on emotion first, logic second

Your clients will assume that you are technically competent. Technical competence will not be the critical reason that someone instructs you

Professional likeability is critical

Show empathy & put yourself in your clients’ shoes

Have you visited your clients premises recently?

Do you buy your clients products & services (or competitors)?

…and Don’t Sell!

Be visible and let people buy from you

‘Stop Selling & Drink Coffee!’

Questions for you to answer

How are you going to build an emotional connection with your clients and prospects?

How are you going to stay visible with your personal key contacts?

How to influence, build profile & stay

visible

Module 2

“successful marketing is about intelligent elbow grease – do the right things & do them often. You must stay visible to make it easy” Bernard Savage

b

Fees secured or expected based on existing client repeat business & brand

Fees unsecured

£ budget/ revenue target‘Coffee’SpeakingPressNetworking‘Saw this & thought of you’Referral strategyE marketingOn line

Your Sales Pipeline

Lead

Gen

erati

on

Prospects

Pitches

‘Coffee’ Conversations

£

Lead Generation model

Be strategic in marketing activity

……….or is this more typical?

“we always have a golf

day”

“we need to refresh our

website because the

executive think it looks dull”

“its time to print a new brochure”

“a new corporate id will make us look more modern”

“xxxx always

sponsor events”

“the magazine said that they have a special

offer if we advertise in

the Dec issue”

There are no silver bullets to close sales

To influence your target ‘touch them’ 6-8 times across 12-18month period

Use a variety of different methods to attract your prospect

Seminar invitation

Telephone Email Face to FaceCommunication format

Video conference

Marketing

activities

Newsletter Hospitality Networking event

Send an article

of interest

Provide a referral or introduction

Hand written Thank You

noteCase Studies

Support charity

Speak at Team Meeting

Provide FREE training Podcast

On line, eg extranet

or blog

PR

Write article for prospect publication

Testimonials

Stay very close to your friends (clients & potential referrers of work)

Investing in client development (the right ones) is ten times more productive from a marketing perspective than chasing prospects

Client retention is more profitable

Increase in client retention of 5% leads to an increase in profitability of 14%, yet an increase in new business of 5% only delivers an increase in profit of 5%Source: Bain & Co consultancy

Immerse yourself in clients world

Read trade press; attend conferences; visit clients location; understand key issues; talk their language….what else?

Face to Face Phone

E-mailMail

Increase focused client contact

On line

Press

SMART objectives for Key Clients

Specific

Measurable

Achievable

Realistic

Timelines

Okay Bernard, so what exactly do I need to do?

1. Don’t sell, drink coffee

Demonstrate empathy to build trust – simply ask questions & listen attentively

Success is creating a dialogue, not a sale

 What the prospect does What do you do?Tell me more about…..What is the company’s strategy?What kinds of projects are you personally handling now? How the prospect does that How do you do it?Tell me more about…..How is the company reacting to [the current economic downturn]?How do you differentiate versus your competition? When and where the prospect does what he does When and where do you do it? Tell me more about…..What are your plans for….?Where do you hope this….leads you?

  Why the prospect does it that way Why do you do it that way?What are the advantages for you of doing it that way?Why did you decide to call us today?Who is involved in making the final decision to….? Who the prospect is currently working with Who are you doing it with?What do they do well?What areas do you feel could be improved?What is the reputation of xxxx in the market place? Whether and how you can help the prospect do what he does better How can we help you do it better?How are you going to choose who you’ll be working with?Have you ever worked with another company like ours before?What kinds of relationships are you hoping to develop in the future?

Questions to ask at ‘coffee’ meetings

2. Speak at trade events

You will build profile & thought leadership credentials

Change from ‘interruptive’ to ‘permission’ communication

You have a captive audience to communicate with

Its more cost effective than just attending events

3. Follow up within 72 hours of networking events

Sell the ‘coffee’ not your credentials

Friendly & informal tone of voice

Email is easier than phone

Don’t limit follow up to just those people you met

Just email and say“Hi John,

Good to meet you at xxxx yesterday. Hope your head is not as sore as mine this morning!

I am in yyyyyyy 21st Nov and would love the opportunity to learn more about ..... Have you got 30 minutes for a coffee?

If this doesn’t work, perhaps you can suggest alternatives in Dec – perhaps we can meet on a future visit to yyyyy – planning another visit 4-6 weeks later?

Kind regards

Peter

4. Get articles published – both print & on line

What trade press do your clients & targets read?

Participate in LinkedIn groups

How?

Identify what your targets read & cultivate relationships with journalists of publications

Find out publication forward featuresWrite interesting articles that fit tone of voice

of publication – make it easy to get placed

Embrace on line media

Segment groups you want to influence & research where & how they communicate

What problems do you see on forums?

5. ‘Saw this and thought of you’ hand written note

Send articles of interest, eg best practice

Provide market intelligence

Your aim is to stay front of mind & show you care

6. Ask for referrals & testimonials

You are mitigating risk for potential buyers

Embarrassment AwkwardnessNot the

British way

Fear of rejectionNever

think of itDoesn’t seem professional

If they knew someone, they’d probably mention it anyway

Perhaps we don’t ask because………

Please mention my name & here’s what you need

to know V

alue

of r

efer

ral

Different types of referral

Valu

e of

refe

rral

Different types of referral

I’ll call, email or write for you

Valu

e of

refe

rral

Different types of referral

I’ll set up a meeting & make the introductions

You might say

“We want to grow our business and I’d appreciate your advice on who you think I should be talking to”

“Would you feel comfortable recommending us?”

“Who do you know who might also appreciate the services we have provided you?”

7. Case studies & testimonials

Show that you understand the prospect’s position

Paint pictures of profiles of clients you have helped (Context, Action, Result)

You can protect anonymity

Focus on building trust

Rapport Share intelligence Provide introductions Deliver on promises Be consistent

How you can win new business: Your 7 winning sales strategies

1. Don’t sell, drink coffee (focus on building relationships, not fees)

2. Speak at trade events3. Follow up (quickly)networking activity4. Get articles published (on & off line)5. ‘Saw this & thought of you’ 6. Referral strategy7. Case studies & testimonials

What action are you going to take?

Plan the work; & Work the plan

Make a commitment to do something; do a little & often

Measure activity

Bernard T: 0777 189 7772 E: bernard@tenandahalf.co.uk

Douglas T: 0778 654 0191E: douglas@tenandahalf.co.uk

Office T: 0115 9247106E: info@tenandahalf.co.ukW: www.tenandahalf.co.uk