A lawyer’s career hinges on their ability to win work. Douglas McPherson suggests five alternative options for those that don’t like formal networking
When business development is mentioned lawyers generally think that this means networking, and when lawyers think ‘networking’, they immediately think of formal networking events. The trouble is that most people (me included) don’t like formal networking events.
Unfortunately for those that don’t like and won’t do formal networking, a lawyer’s career does hinge on their ability to win work. This means you can’t just ignore business development; you need to find alternative ways to ensure you are making a positive and productive contribution to winning work for your firm.
In a bid to get you thinking about what those alternatives could be, here are five activities you could do instead of networking:
When it comes to winning new work law firms (generally speaking) think new client acquisition first, generating professional referrals second, and farming your current clientbase third.
I have no idea why. Surely it’s easier to win more work from the people who have already chosen you, bought from you and are used to working with you?
One of the first suggestions I usually make to clients is to flip that list and put current clients front and centre in their marketing plans.
First, identify your top clients. Pareto’s 80:20 rule (80 per cent of your fees are generated by 20 per cent of your clients) is usually a pretty accurate yardstick. Make a list of those top clients and develop a structured plan that’ll remind you when to see them and what to talk about when you do. Find out what they really consider to be added value and deliver that added value.
Always try and introduce them to colleagues in other practice areas as well as to potentially useful contacts within your wider personal network.
The immediate benefit is you’ll win more work from them (for yourself and for your colleagues). The secondary benefit is because you’re front of mind and are recognised as actively managing your relationships, your clients will generate more opportunities by introducing and referring you to their wider personal networks.
It’s a well-worn marketing cliché but content really is king.
To be credible (and to generate a more productive SEO presence) you need to produce a continual flow of articles, news and commentary on the area/s you specialise in. And, if they are to catch the eye and deliver value to your readers these pieces need to have the following characteristics.
Think about the average networking event. There may be 100 people there, but you’re likely to only speak to five or so. And of those, maybe only three are interesting. Imagine if you were the speaker… You would get immediate and direct access to all 100.
I completely understand if public speaking isn’t your first choice when it comes to business development, but if you are someone who enjoys talking to an audience about what you know best – your daily work – then giving a presentation is one of the most productive BD tools there is.
The key things to remember when it comes to presentations are to never bamboozle your audience with technical brilliance or force them into ocular submission with an unending series of text-heavy slides. Again, make sure your content is relevant, practical and valuable. Always speak in plain English and give clear direction your audience can take away and use immediately.
Networking is never as much of a chore if you are doing something you like with people you like. Instead of turning up at the same old local networking events, the Chamber or the IoD set up your own group of likeminded individuals who share a common interest.
We’ve seen a raft of different events including:
The reason doing something you actually enjoy works so well is that you will actually go rather than finding a last-minute reason not to. It is also tends to be more productive because the common interests you share will allow you to develop closer-knit relationships than you will at more general events, and the closer the relationship, the more likely it is to generate referrals and introductions.
If the idea of networking, writing or presenting really does leave you in a cold sweat you could focus on research. This may not be an obvious marketing or business development option, but research is an essential function: where should your firm’s networkers network, writers write and speakers speak? After all, what we are talking about here making a tangible contribution to business development, not necessarily leading from the front.
You can also monitor industry and local news feeds and distribute useful links to use on social media and suggest angles to use for future articles and e-shots.
Having someone on the team willing to take up the spade and do some digging not only frees up more time for your front line marketers to get on with it, it also provides better results by uncovering less obvious events / publications / groups that are less likely to be flooded by your competitors.