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www.wilkinsonread.co.uk 19 info@wilkinsonread.co.uk

increasing share of their time to business development. It is no longer sufficient to be excellent

lawyers – fee earners also need to be rainmakers for the firm.

However, Simon White also believes that firms must go back a stage further and reassess their client

base, articulating clearly the market they are targeting. “Clarity is crucial. Firms should profile their

clients. Which clients generate what percentage of revenue? What proportion of the firm’s business

comes from new clients, and what proportion from targeted clients? Who exactly are we targeting?”

Once the firm’s management is clear about its target market, branding and marketing can follow and

will deliver a consistent message. Winning clients in professional service markets is less down to

advertising, and more down to the interactions the firm has with prospective clients.

At Wilkinson Read & Partners, we recommend that firms employ a strategy based on the following

five sustainable sources of work:

• Repeat work from existing clients

• Introductions

• ‘Keep in Touch’ campaign

• Strategic Alliances

• Collateral

There will still be strong demand from clients who are willing to pay a premium for excellent advice

and personal service. Such clients should be viewed as lifetime assets, rather than transactions.

Satisfied clients will keep coming back to the firm and should be happy to recommend the firm’s

services. The important thing is to know on what basis the firm is competing – price or service – and

to deliver accordingly.

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