Embracing Business Development to Help Secure More Business from Current and Prospective Clients...
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Transcript of Embracing Business Development to Help Secure More Business from Current and Prospective Clients...
![Page 1: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/1.jpg)
Embracing Business Development to Help Secure More Business from Current and Prospective ClientsAdam Severson
Director of Business Development & Marketing
Faegre & Benson LLP
![Page 2: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/2.jpg)
• Business Development & Marketing Continuum
• Day-to-day implementation• Alignment with firm strategy• Building your personal network
Discussion Topics
![Page 3: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/3.jpg)
Client Focused Approach
![Page 4: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/4.jpg)
Awareness and Reputation
IdentityAdvertising
Public relationsSponsorships
Website
Who We Are (or Want to be Seen As)
AWAREN
ESS MARKE
TIN
G
Business Development & Marketing Continuum
![Page 5: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/5.jpg)
AWAREN
ESS
MARKE
TIN
G
Awareness and Reputation
IdentityAdvertising
Public relationsSponsorships
Website
Who We Are (or Want to be Seen As)
Marketing
Speaking engagementsBylines and expert sourcing
Newsletters and alerts Targeted relationship events
Practice or industry participation
Specific and market focused
PREFER
ENC
E
BIZ
DEV
Business Development & Marketing Continuum
![Page 6: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/6.jpg)
AWAREN
ESS MARKE
TIN
G
Awareness and Reputation
IdentityAdvertising
Public relationsSponsorships
Website
Who We Are (or Want to be Seen As)
Marketing
Speaking engagementsBylines and expert sourcing
Newsletters and alerts Targeted relationship events
Practice or industry participation
Specific and market focused
BD
Client teams/plans “Pitches” & Proposals
Competitive IntellSelling
Account and Opportunity Pursuit
PREFER
ENC
E
BIZ
DEV
Business Development & Marketing ContinuumPoints of Contact
1,000
100
10
![Page 7: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/7.jpg)
Day-to-day implementation
![Page 8: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/8.jpg)
• Create a list of clients and prospects to target in the coming year– Include current clients within your practice, similar
practices and the firm generally– Identify specific prospects with whom there is
strong likelihood of success – Consider factors that drive their buying decisions
Develop a target list
![Page 9: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/9.jpg)
• Identify:− Top 25 clients of your practice− Top 25 clients of adjacent/similar practice− Top 100 firm clients (with their respective
practices and relationship lawyers) • External research
Develop a target list
![Page 10: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/10.jpg)
Develop a target listClient Lead
LawyerColleague Goals/
NextStepsNotes
ABC Company
JK BW, VJ • Growpatent work • Unclear on decision makers•Need more information
Mr. & Mrs. Smitn
DK RK • Get to know broader team• Schedule networking event with their patent team
• Indicated they’re slowing down their applications dramatically
Smith Medical
BW AE, SR • Get new litigation
… … … … …… … … … …… … … … …
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Partner with your IR TeamClient Industry Public/
PrivateHQ # of Employees Revenue Lit.
TrendsM&A Trends
ABC Company
Mr. & Mrs. Smith
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Day-to-day implementation
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Day-to-day implementation
• Clients receive too many client alerts– Recommend added context or substance to firm
communications• Make sure you provide context or value when
communicating with your lawyers– Provide a helpful hint or bit of analysis when
forward research or sending an RSVP list
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Day-to-day implementation
![Page 15: Embracing Business Development to Help Secure More Business from Current and Prospective Clients Adam Severson Director of Business Development & Marketing.](https://reader034.fdocuments.us/reader034/viewer/2022042822/56649e5f5503460f94b59080/html5/thumbnails/15.jpg)
Day-to-day implementation
• Establish metrics for your work– Events– Alerts– RFPs– Web stats– New matter descriptions– Budget savings
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Alignment with firm strategy
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Alignment with firm strategy
• Ask questions of your lawyers to understand a project more completely and to get the big picture
• Talk with your leadership to understand firm goals and strategic vision
• Ask how you can help support those goals
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Building your personal network
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Building your personal network
• Meet people at various levels• Ask questions to learn from them
– Don’t be afraid to ask for help• Face-to-face is better than other methods• Follow up
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Questions?
Adam SeversonDirector of Business Development & MarketingFaegre & Benson LLP