embracing business development to help secure more business from current and prospective clients...

Embracing Business Development to Help Secure More Business from Current and Prospective ClientsAdam Severson

Director of Business Development & Marketing

Faegre & Benson LLP

• Business Development & Marketing Continuum

• Day-to-day implementation• Alignment with firm strategy• Building your personal network

Discussion Topics

Client Focused Approach

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

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

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

Day-to-day implementation

• 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

• 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

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

… … … … …… … … … …… … … … …

Partner with your IR TeamClient Industry Public/

PrivateHQ # of Employees Revenue Lit.

TrendsM&A Trends

ABC Company

Mr. & Mrs. Smith

Day-to-day implementation

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

Day-to-day implementation

Day-to-day implementation

• Establish metrics for your work– Events– Alerts– RFPs– Web stats– New matter descriptions– Budget savings

Alignment with firm strategy

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

Building your personal network

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

Questions?

Adam SeversonDirector of Business Development & MarketingFaegre & Benson LLP