by Robin Dicks | Jul 5, 2017 | Robin's Blog
A recent analysis conducted by Lexis Nexis and Cambridge University’s Judge Business School made for somewhat disturbing reading. The results suggest that even across the biggest clients of firms, key contacts believe their relationship partners and firms serving them have only a superficial knowledge of their business. The report notes that “All clients were uniformly of the opinion that not only do the law firms not provide relationship services, in many cases they do not seem to see the need.” This is causing some clients to look elsewhere for advice. Given this is a substantive risk to firm revenue, the authors recommend that firms stop focusing predominantly on a transactional approach to key clients and instead instil “a sense of partnership where the client feels valued and protected.” Do you know how clients view their relationship with your...
by Robin Dicks | Aug 22, 2014 | Uncategorized
For most professional services firms, successful growth remains driven by how well aligned marketing, business development and the activities of fee earners are – and, of course, how well they are executed. But it’s not a perfect world: what is there is a gap in the key activities you cover, or people duplicate effort, or the person responsible for the activity doesn’t have the skills (or desire) to do it? Effectiveness declines. Accountability, ability and appetite. Not all is lost if you don’t have all 3, and people can still drive results. But you do need to understand where people are at and how to maximise the impact of what you do. How can you optimise the effectiveness of all the people involved in the marketing and BD effort? Phil Gott, my colleague in the Winning Firm Alliance, and I have created a diagnostic which very inexpensively and quickly identifies how the whole firm, a practice/team, or an individual can really enhance the results from their activity. Contact me if you’d like more information on 44 (0)7940 886677 or at robin @ thrivingcompany.co.uk ...
by Robin Dicks | Apr 22, 2014 | Uncategorized
Intelligent Insurer magazine recently reported that larger buyers of reinsurance are forming “closer and deeper relationships with their bigger reinsurance partners”.This aligns with some of the messages coming though from a project we are undertaking with a reinsurer currently. It also represents a broader truth that we see coming from that, and many other projects in the professional and financial services sectors that we have run, including for law firms and accountants.Clients are acutely interested in that element of added value that distinguishes one supplier – or partner – from another. Reducing time or complexity in managing different supplier relationships is valued – but provided the chosen key suppliers can demonstrate reliability and this deeper understanding of the client’s aims and how to help them get there.Enabling fee earners and business developers to do this should be considered as a key aspects of a firm’s...
by Robin Dicks | Oct 21, 2013 | Uncategorized
Once again at a speaking engagement this month I asked delegates to flag up the key challenges in their firm, when it came to extending relationships with clients. These were some of those flagged: Fee earners discomfort in broaching subjects where they are not “expert”/preference for working on “what’s on the desk”/fear of failure Fee earners not wanting others to talk to their clients Current “modus operandi” is working as individuals or in silos Difficulty in gaining shared agreement on approach I’ve prepared a short document with ideas for resolving these – just contact me if you’d like a copy...
by Robin Dicks | Sep 19, 2013 | Uncategorized
During last month a survey about levels of employee pride in various professions – including legal, accountancy, and insurance – was published. Broadly, it reported that about 4 in 10 employees in the legal and accountancy sectors are not proud. Given the potential impact this could be having on the client experience and the appetite of employees to help build client relationships, what role could senior managers and marketers play in improving matters? Perhaps more effort in internal communication and engagement with the HR function and staff could drive much greater rewards than more tweaking of the website or the next mail shot?...
