Uncategorized

Book Payment

Thank you for recent book order.

 

Please make payment below using our online booking system. Your books will be dispatched within 24 hours of receiving payment.

{simplecaddy code=NorthAPayment}


Should you wish to pay by cheque or invoice, please email [email protected] with this request. For all further enquiries please call +44 (0)1932 260062.

Campaigns


High Focus, High Impact Campaigns – extract from Growing Your Client Base, Chapter 4


Why would a prospective client who is being well served by her existing advisers wish to complicate her life by talking with us? The answer hasn’t changed. It is because that in every previous interface with our firm she has gained some form of value. So how can we generate lots of value quickly? 


The answer is through campaigns, or as they are more accurately called, high focus, high value, high impact campaigns. We will call them campaigns for short. The essence of these types of campaign is as follows. 

  • These campaigns should be targeted toward specifically identified senior management people within the Defined Prospects that have been identified. 

  • It is not unusual to target two or more people within a Defined Prospect as often there is no precise information as to who would be the most appropriate recipients of our campaign. On many occasions the campaign may well be of interest to a number of people. 

  • The campaign should begin with a written communication to the targeted individuals. It should explain clearly what the firm is trying to do (i.e. convince them that your firm is an organisation that would be of value to them to begin dialogue with) and how you intend to raise their interest. 

  • The campaign should have at least four elements. 

  • The prime consideration for any material that is sent to the targeted individuals should be, “Will this potentially be of genuine value to him / her?” Don’t include brochures and overtly promotional material. 

  • Each intervention should follow no longer than two weeks after the previous one. 

  • Consider including in the campaign:

– Copies of articles written by our people and published in trade journals
– Books written by our people
– Papers produced by our people
– Copies of articles (from external authoritative sources) that would probably be of interest to the targeted individuals
– Outputs from previous proprietary research
– Market reports
– Interesting and relevant case studies
– An invitation to participate in a benchmarking study 

  • Ensure that some relevant communication accompanies every piece of marketing material sent to targeted individuals. Ensure that each of these communications is specifically tailored to the person concerned. Ensure that each and every accompanying letter is personally hand signed. 

  • When the final part of the campaign has been executed, write a letter to the individuals concerned. Express that you hope that the information you have sent over the past few weeks has been of interest and of value and has given the recipient some idea of ‘where we are coming from’. 

  • State specifically that you will be calling the recipient on a nominated day (within one week) with a view to seeing if it would be appropriate and timely to arrange a face-to-face meeting. 

  • Make the call! Don’t waste the effort that has gone in up to this point. 

In our own firm we use a mix of long and short term marketing activities to attract Defined Prospects into dialogue. Last year we looked at our top 15 fee-producing clients and discovered that eight of them had originally entered into discussions with us primarily as a result of campaigns directed toward senior decision makers. However, we are also aware that the proprietary benchmarking research that we carry out, the articles that we write, the workshops that we run and the word of mouth referrals and recommendations that we foster all provide a supporting environment for these highly targeted campaigns. 


To provide some feel for what a campaign could look like we have taken an example of one that we have found to be quite successful. By successful we mean that we will obtain a business meeting with someone that we have targeted in more than 50% of the Defined Prospects included in the campaign. 


03/05 Initial letter accompanied by book – Creating New Clients 10/05 Letter with article on Cross-selling 17/05 Letter with article on Running Effective Seminars 24/05 Letter accompanied by book – Managing Key Clients 31/05 Follow up telephone calls 


Someone once said to us, “That seems intense to the point of stalking!”; That is not our experience. Occasionally we have a secretary call us and tell us that her boss is not the right person to direct this information to. That’s about as negative as it gets. We get many more calls from recipients who, before the campaign is completed, ask to meet with us. 


The key is delivering value and the biggest hurdle we have found when firms in need of short-term new business wins seek to implement a campaign approach is that there can be a dearth of material that is likely to provide value. There is then a huge temptation to slip in some overtly ‘push’ promotional material. Perhaps a brochure or a service flyer. The high focus, high value, high impact campaign has then become devalued to just another mailshot. 


Also it should be borne in mind that this is not a silver bullet. Not every Defined Prospect that is campaigned to will want to meet with our firm at that point in time. At PACE we are delighted with a two in three conversion rate of campaigns to meetings. Also this meeting provides us with just the very first step into the P3 section of The PACE Pipeline – the Projecting phase. There could be a long way to go but the campaign has succeeded in getting the people that we want to talk with, to want to talk with us. 

Page Not Found


The page you requested has either expired or cannot be found. Please use the toolbar at the top to find what you are looking for. Alternatively you can choose from the following popular sections:

 

Articles

View our comprehensive range of articles, written by PACE consultants, or choose from our latest thinking below.


Featured | Holding onto your Key Client Relationships

July 2009 | There are clear signs of a more positive economic environment ahead. We all know of course that there is a time lag before things get better. Your key clients will remain under pressure for some time to reduce expenditure and ensure they are getting the very best value from their lawyers. More >>

Best Practice | Making a Breakthrough

It’s strange how seemingly unrelated events can get you thinking. The two events below got me thinking about business performance in the current economic crisis particularly when it seems advice about what strategies and tactics to adopt in the ‘downturn’ has turned into an industry in itself. More >>
  

News

View the latest news from PACE and the professional services industry.

Events

View PACE events, with details of how to book and locations.

What do PACE do?

Find out what PACE do, including details of our areas of specialism and expertise.

PACE Products

View and purchase from a range of PACE produced products, developed specifically for professional services organisations.
 

If you are unable to find the specific content you require, please contact us here.

Social Media Hub

PACE are proud to embrace the latest technology in reaching out and communicating with the marketplace and our partners. This page is the hub of our social media gathering place where you can gather the latest information from one the UK’s leading business development consultancy firms. Not only for social media experts, this page is a great way to get started with us as we continue to explore the various media tools that are making waves online. To those that are already fans, we thank you and we hope this hub links everything in a dashboard setting for you. We look forward to exciting times ahead on all our social media channels and trust you can find value to learn and discover!

Join us on LinkedInLinkedIn

  • Join the PACE Business Development Forum
  • We’re highly visable on LinkedIn through our company profiles, but we also manage our very own group – the PACE Business Development Forum. The group’s objective is to promote collaboration and networking for the professionals working in or with business development activity. We welcome directors, partners, associates, advisors, event attendees, speakers and sponsors to join where you can quickly engage with like-mined professionals in your marketplace as well as post questions around you or your firms business development.

Follow us on TwitterTwitter

  • Follow us on Twitter
  • The official voice of The PACE Partners LLP and PACE Partners International in Twitterland, check out this page often for the latest news as it happens and interesting content on and regarding your marketplace when it happens.

Join us on FacebookFacebook

  • Join us on Facebook
  • Enjoy and engage in the latest news and information from PACE and our marketplace through our official Facebook profile page.

Watch and follow us on YouTubeYouTube

Referrals

How to ask for referrals from existing clients. Excerpt from: Growing Your Client Base, Paul Denvir and Kevin Walker, 2006 


A few years ago I was doing a lot of business development training work for a long-standing banking client. The managers that I was working with had, as one of their key tasks, to develop new business from new customers. Their customer base was in the mid corporate market and each manager typically managed around 40 to 50 relationships. According to independent research this bank’s mid corporate customers were the most satisfied in the UK. This was not a one-off aberration. Quarter by quarter this bank’s customers rated their relationship with their bank – and their bank manager – higher than any other bank’s customers did.


However the managers struggled with the task of new business acquisition and most hated the prospect of being asked to ‘cold call’. On one of the workshops I asked the participating group three questions. Question one was, “How many relationships do you manage? Please write the number down on a sheet of paper”. Question two was, “Of the number of relationships that you manage, how many customers have you got who are somewhere between being satisfied and highly delighted with the service that you provide? Will you please right the number down below your first number”.


Question three was. “Of the second number that you just wrote down, how many of these customers have you proactively asked for a referral or recommendation in the last year? Will you also write that number down?”


A pattern quickly emerged. The first two numbers were very similar – and the independent market research substantiated these estimates. However, the third number was usually zero.


Often clients do not realise that professionals, as part of their role, are responsible for new business development. It simply never occurs to them that a referral to a colleague or some other business associate would be extremely welcomed by their advisor. Why? Because the advisor has never raised the issue with the client.


Professionals regularly tell us, “I wouldn’t know what to say or how to say it. I don’t want to put my client under any obligation or pressure”.


“Let’s try this then,” we respond. “You are meeting with one of your clients. You have a good relationship with her and you have just completed a project that has gone extremely well. This is the review meeting and the client has just told you how delighted she is with the outcome of the work. At that point you say to her something along the lines of, ‘I’m pleased that you’re pleased and we look forward to working with you in the future. Also if you think that there are other people in your organisation – or indeed any other business associates – that we should be talking to about our capabilities then I would welcome the introduction’.” Given the context, how painful did that feel?


In asking for a referral two things are important. Firstly there is timing. The subject should be raised when the relationship is on a high. Why would any client recommend the mediocre to a colleague or other business associate? Secondly we have to be comfortable with our choice of words. We are never comfortable with any skill that we have not practised and most professionals have never practised asking for a referral. In our workshops we take professionals back to the scenario of the delighted client and tell them to write down what it is that they would say – word for word, in their own words, words that they will be personally comfortable with. We then get them to practise amongst themselves. It is amazing the improvement that can be seen and the confidence that can be gained through three or four articulations during a few minutes practice.


Having sown the seed the client should be left to decide her own response. Some may just nod, acknowledging that they have heard, but no more. Some will actually respond along the lines of, “I know that the people in our Manchester office are not entirely pleased with the advisors they have been using recently. I’ll give them a call and ………”


We should never put pressure on our existing clients or make them feel uncomfortable. Raising the subject of referrals in a thoughtful, practised way at the right time should not result in embarrassment on either side. In practice we find that once clients realise that business development is an important role for the professionals with whom they work, some will act as a continual source of introductions for those professionals whose abilities and relationships they value highly.


How do referrals work as a marketing tool in the light of the two keys to marketing effectiveness? The answer is that whilst the person to whom the professional has been referred is unlikely to receive any immediate direct value, what they do receive is tremendous insight into what it is like to work with the professional concerned. The referee has months or perhaps years of real life experience that she can share with the person to whom she is making the recommendation.

 


What next?
 

Contact us
Ask PACE a question
Register to receive email alerts

Referrals

How to ask for referrals from existing clients. Excerpt from: Growing Your Client Base, Paul Denvir and Kevin Walker, 2006

A few years ago I was doing a lot of business development training work for a long-standing banking client. The managers that I was working with had, as one of their key tasks, to develop new business from new customers. Their customer base was in the mid corporate market and each manager typically managed around 40 to 50 relationships. According to independent research this bank’s mid corporate customers were the most satisfied in the UK. This was not a one-off aberration. Quarter by quarter this bank’s customers rated their relationship with their bank – and their bank manager – higher than any other bank’s customers did.

However the managers struggled with the task of new business acquisition and most hated the prospect of being asked to ‘cold call’. On one of the workshops I asked the participating group three questions. Question one was, “How many relationships do you manage? Please write the number down on a sheet of paper”. Question two was, “Of the number of relationships that you manage, how many customers have you got who are somewhere between being satisfied and highly delighted with the service that you provide? Will you please right the number down below your first number”.

Question three was. “Of the second number that you just wrote down, how many of these customers have you proactively asked for a referral or recommendation in the last year? Will you also write that number down?”

A pattern quickly emerged. The first two numbers were very similar – and the independent market research substantiated these estimates. However, the third number was usually zero.

Often clients do not realise that professionals, as part of their role, are responsible for new business development. It simply never occurs to them that a referral to a colleague or some other business associate would be extremely welcomed by their advisor. Why? Because the advisor has never raised the issue with the client.

Professionals regularly tell us, “I wouldn’t know what to say or how to say it. I don’t want to put my client under any obligation or pressure”.

“Let’s try this then,” we respond. “You are meeting with one of your clients. You have a good relationship with her and you have just completed a project that has gone extremely well. This is the review meeting and the client has just told you how delighted she is with the outcome of the work. At that point you say to her something along the lines of, ‘I’m pleased that you’re pleased and we look forward to working with you in the future. Also if you think that there are other people in your organisation – or indeed any other business associates – that we should be talking to about our capabilities then I would welcome the introduction’.” Given the context, how painful did that feel?

In asking for a referral two things are important. Firstly there is timing. The subject should be raised when the relationship is on a high. Why would any client recommend the mediocre to a colleague or other business associate? Secondly we have to be comfortable with our choice of words. We are never comfortable with any skill that we have not practised and most professionals have never practised asking for a referral. In our workshops we take professionals back to the scenario of the delighted client and tell them to write down what it is that they would say – word for word, in their own words, words that they will be personally comfortable with. We then get them to practise amongst themselves. It is amazing the improvement that can be seen and the confidence that can be gained through three or four articulations during a few minutes practice.

Having sown the seed the client should be left to decide her own response. Some may just nod, acknowledging that they have heard, but no more. Some will actually respond along the lines of, “I know that the people in our Manchester office are not entirely pleased with the advisors they have been using recently. I’ll give them a call and ………”

We should never put pressure on our existing clients or make them feel uncomfortable. Raising the subject of referrals in a thoughtful, practised way at the right time should not result in embarrassment on either side. In practice we find that once clients realise that business development is an important role for the professionals with whom they work, some will act as a continual source of introductions for those professionals whose abilities and relationships they value highly.

How do referrals work as a marketing tool in the light of the two keys to marketing effectiveness? The answer is that whilst the person to whom the professional has been referred is unlikely to receive any immediate direct value, what they do receive is tremendous insight into what it is like to work with the professional concerned. The referee has months or perhaps years of real life experience that she can share with the person to whom she is making the recommendation.

Click here to view Growing Your Client Base book.

Accessibility

The PACE Partners website has been designed to be as easy to use as possible for all users. For best results, we recommend users view the website using Internet Explorer, Firefox or Safari. Users with a visual impairment can change the text size by adjusting the settings in their browser. Internet Explorer users can access this facility through the View > Text Size menu. Other browsers support this feature by pressing Ctrl and the + or – keys. Please refer to your browser Help if this is not the case.


Publication & Article Formats

Publications on this site appear in a variety of formats. Users will need Adobe Acrobat Reader to view pdf files. Visually impaired users may also find it useful to refer to Adobe for further information on pdf accessibility.

Click here if you need to download Adobe Reader (pdf reader).

Video

All video content within this website is provided in .flv format using Adobe Flash technology. If you cannot view the videos, download the latest version of Flash here.

 

If all or any part of the website appears to be functioning abnormally, please detail the problem to the webmaster at [email protected]

 

 


Terms & Conditions

Website Service


This website is offered by The PACE Partners LLP and PACE Partners International Limited.


Legal


The PACE Partners LLP is a limited liability partnership registered in England and Wales with registered number OC330353. The registered VAT I.D. number is 608918613.

All references on this website to “The PACE Partners”, “PACE Partners”, “PACE” or “the firm” should be read as referring to The PACE Partners LLP and/or PACE Partners International Limited or their affiliated firms or businesses.

A list of the members (and of the non-members who are designated as partners) of The PACE Partners LLP and their qualifications is available for inspection at its registered office, PACE House, Churchfield Road, Walton-on-Thames, Surrey KT12 2TZ, United Kingdom. Any reference to a partner means a member, or a consultant or employee with equivalent standing and qualifications, of The PACE Partners LLP or any of its affiliated firms or entities.


PACE Partners International Limited is a private limited company registered in England and Wales with registered number 6579882. The registered VAT I.D. number is 931635626.

 

Trademarks


The trademarks displayed on this website are registered and unregistered trademarks of The PACE Partners LLP and/or PACE Partners International Limited. Nothing contained on the website should be construed as granting, by implication, estoppel or otherwise, any license or right to use any trademark displayed on the website, or any license or right to use any other trademark owned by any other third party. In the event that you misuse any trademark in violation of these terms and conditions. The PACE Partners LLP and PACE Partners International Limited will aggressively enforce their intellectual property rights to the fullest extent of the law, including the seeking of criminal prosecution.


Cookies and Website Links


This website uses cookies. Cookies are saved by our website for functionality reasons only and we would not hold any sensitive information about you before your prior consent.

The website may contain links to sites owned or operated by parties other than The PACE Partners LLP and PACE Partners International Limited. Such links are provided for your convenience only. The PACE Partners LLP and PACE Partners International Limited do not control, and is not responsible for, the content or privacy policies on, or the security of, such sites. Without limiting the foregoing, The PACE Partners LLP and PACE Partners International Limited specifically disclaim any responsibility if such sites:

· infringe any third party’s intellectual property rights
· are inaccurate, incomplete or misleading
· are not merchantable or fit for a particular purpose
· do not provide adequate security
· contain viruses or other items of a destructive nature; or
· are libellous or defamatory.


The PACE Partners LLP and PACE Partners International Limited do not endorse the content, or any products or services available, on such sites. If you establish a link to such sites, you do so at your own risk and without the permission of The PACE Partners LLP or PACE Partners International Limited.