I know many mid-size regional firms (10-25 partners, $8 - $15 million in revenue) who are facing this issue - how will they payout retiring partners who have large books of business in a way that fosters good client service (from the second tier partner group) but also encourages new clients to be brought in...how will this work?
Firms who figure it out will do so by rethinking the roles and responsibilities of all professionals at the firm. They will have to leverage their work product/processes, re-think their compensation structure and consider targeting new clients in a way that gets them the biggest bang for their buck - i.e. niche-focused marketing to attract ideal clients that have proven the most lucrative for them in recent years.
Thursday, July 25, 2013
Tuesday, July 9, 2013
How can a proposal deliver the kind of value that makes the prospect want to become a client - NOW?
I would offer that embellishing the specifics around this by
offering a way that a proposal can deliver compelling value that make the
reader want to buy now…. A short list of bullet points that explain how the firm
(the one proposing) offered similar value to other clients similar to the
prospective client –
t What was done,
for what kind of (general description) client and the value or result that was
achieved
t Three or more bullets
should raise an eyebrow of confidence
t Commitment to a niche or specific type
of ideal client to “prospect” to helps
Perhaps another topic of discussion here: How important is niche-marketing in your plan
to improve your closing rates for new business?
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