- Whether you’re an experienced practitioner or a lawyer starting out, how do you define your target market?
- As a starting point, Alistair recommends an audit on revenue and profit, work type, clients, sectors, geography, client issues. Passion and enjoyment should also be a factor as well as a drive to immerse yourself into your clients world, understand their business, industry, regulatory requirements, etc.
- The 3 pillars to promote yourself as an expert in your area:
- Speaking – including good speaker etiquette and a robust CTA/follow up plan
- Networking (online and offline)
- Don’t be shy about putting your questions on the table with a client/prospect, literally. Alistair discusses the importance of being prepared when heading into a warm meeting:
- Do your homework and have questions prepared to guide/prompt the conversation.
- What’s the objective of the meeting?
- What’s your expectation?
- What’s your value-add? What are you offering that is unique, for example, research, insight, information, etc?
- Don’t give a history lesson about you/the firm.
- Let the client do most of the talking – this is a discovery meeting.
- How to build a BD routine into your week:
- 2 hours minimum
- Block out time on a Tuesday, Wednesday or Thursday
- Focus on and create strategy around:
- 5 existing clients
- 5 prospect clients that fit your ‘perfect’ client model
- 5 referrers
- Alistair’s top 3 poor uses of marketing & BD budget that have very poor ROI and engagement, especially for attracting new/prospective clients:
- Brand advertising
- Hospitality events (private rooms at football, cricket, etc)
Connect with Alistair
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