1. SIX STEPS TO INCREASE RESULTS 2/21/07

2. BIGGEST DIFFERENCES  Lawyers vs. other professions –Time  Legal marketers vs. other professions –Time –For some, too many bosses

3. IMPLICATION  We all know how to increase new business  The hard part: Given limited time Lawyers and marketers must prioritize relentlessly

4. YOU MUST FOCUS LIMITED TIME What should I do today to increase new business?

5. SIX STEPS TO HELP PRIORITIZE 1.Prove value of current clients. 2.Explain power of active listening. 3.Define advances. 4.Help apply personal strengths. 5.Form a biz dev group. 6.Build the right relationships.

6. 1. CURRENT CLIENTS 1. Prove value of current clients.

7. QUESTION Do you handle 100% of your clients’ legal work?

8. DO YOU HANDLE 100%? If YES: Strengthen relationships to protect your revenue. If NO: Strengthen relationships to increase wallet share.

9. 1. CURRENT CLIENTS 2/3 of revenue increases come from current clients*  Your chances of new business are –1 in 2 with existing clients –1 in 3 with past clients –1 in 8 with new prospects** * Source: ALM Research 6/06 **Source: Rainmaker’s Toolkit

10. THE QUESTION Rate satisfaction of your top clients (1-10)?

11. YOUR RATING  If 8 or lower: DANGER –60% to 80% of clients who leave say they were satisfied  If 9 or 10: Are you sure? –Many over-estimate client satisfaction –“Customers find it difficult to respond negatively” Source: Harvard Business Review, 11/95

12. 2006 INSIDE COUNSEL SURVEY

14. 1. CURRENT CLIENTS, cont Bulletproofing crown jewel clients  Listening  Understanding and meeting needs  Caring, and showing you care  Being responsive and handling problems  Cool offering (sexy) Source: Gerry Riskin, 1/06

15. CLIENT TEAMS  Client teams must coordinate communication  But not too much  Client satisfaction reduced by –Limited lines of communication –Constraints and protocols

16. 1. CURRENT CLIENTS Selling to current clients is easy  Critical in the short term  Based on exceptional service Selling to new clients is the hardest work you can do in a suit  25% or more of sales pros fail  Top performers often sell 10x as much as average performers

17. 90 SECOND EXERCISE What should I do today to increase new business? 1. Prove the value of focusing first on current clients HANDOUT www.legalbizdev.com/webinar

18. 2. LISTEN 2. Explain power of active listening.

19. QUESTION Do you listen at least 50% of every sales meeting?

20. 2. LISTEN  In selling, experts say you should listen 50% to 80% of the time  Listening is “the single most important principle in interpersonal relations”  You must master the art of the “easily answered question”

21. IMPROVE LISTENING - BASIC Improve listening with “easily answered questions”  Tell me more…  Give me an example…  What bothers you most…  How does this affect you…  How do you handle…  Do I have it right…

22. IMPROVE LISTENING - ADVANCED  12 year study of 35,000 sales calls  Used by majority of Fortune 500  Techniques to ask questions S ituation P roblem I mplication N eed Payoff

23. 90 SECOND EXERCISE What should I do today to increase new business? 2. Explain the power of active listening HANDOUT www.legalbizdev.com/webinar

24. 3. ADVANCES 3. Define advances.

25. 3. ADVANCES  An advance is an action that moves the sale forward. –Example: Agree to meet with another partner next Monday –Not an example: “Let’s meet again soon”  Always ask: What’s our next step?

26. 90 SECOND EXERCISE What should I do today to increase new business? 3. Define advances HANDOUT www.legalbizdev.com/webinar

27. 4. PERSONAL STRENGTHS 4. Help apply personal strengths

28. 4. PERSONAL STRENGTHS For 40 years, Gallup studied  25,000 sales managers  250,000 sales people  1,000,000 customers Conclusion: The best sales people  Understand their strengths  Find the right fit

29. 4. PERSONAL STRENGTHS Sales managers spend  Too much time with low performers –bring in little new business  Too little time with high performers –small change can bring in substantial business

30. 90 SECOND EXERCISE What should I do today to increase new business? 4. Help each lawyer to apply personal strengths HANDOUT www.legalbizdev.com/webinar

31. 5. FORM A GROUP 5. Form a biz dev group.

32. 5. FORM A GROUP  Form a BizDev group –Provide social support –Build accountability –Create a friendly competition  Find a coach –Professional advice maximizes impact –Assures BizDev will be a priority

33. 90 SECOND EXERCISE What should I do today to increase new business? 5. Form a business development support group HANDOUT www.legalbizdev.com/webinar

34. 6. RELATIONSHIPS 6. Build the right relationship

35. FOCUS ON THE RIGHT PEOPLE Sales people QUALIFY prospects  Will they buy?  Will they buy now?  Will they buy from me? Spending time with the wrong people is worse than spending no time at all.

36. BUDGET TIME New relationships take time

37. HOW TO BUILD RELATIONSHIPS  Agree.  Don't criticize or complain.  Give sincere appreciation.  Become genuinely interested.  Smile.  Be a good listener.  Talk about the other person's interests.

38. 90 SECOND EXERCISE What should I do today to increase new business? 6. Focus lawyers on building the right relationships HANDOUT www.legalbizdev.com/webinar

39. THE PAST: LEGAL MARKETING 1980sNOW Rainmakers alone Budgets.5% Few CMOs Everyone involved Budgets 1% - 4% Many CMOs Client service teams Sales training Source: Paul Clifford, LMA NE

40. FUTURE: MORE FOCUS ON SALES MARKETING Creates demand 0.6% revenue SALES Meets demand 0.5% revenue BrochuresNewsletters Web page More meetings Better follow-up Get advances Source: Law Firm Inc, June 2005

41. MARKETING VS. SALES “Ending the war between sales and marketing” – July 2006  Cultural differences  Economic interests To prevent that war from breaking out in law firms, we need:  Common goals  Common metrics

42. IT ALL COMES BACK TO What should WE do today to increase new business?

43. FOR MORE INFORMATION www.legalbizdev.com Email: jhassett@legalbizdev.com