by Robin Dicks | Jul 11, 2016 | Robin's Blog
The world (or at minimum the UK) feels different than it did on 23 June and the result and its’ aftermath of course will have implications for your clients. Much is still uncertain. But it’s an important time to reach out to clients; not just to tell, but to listen. Our thinking is that there are 3 areas worth additional focus on, in the coming months, and asking your clients. These include: What activities and developments are now planned by the client (and how have these changed ?) What is their sentiment, and level of confidence in the business environment? Where do they need more certainty? Where would they value more advice about the potential impact? Asking these questions can enable you to better help individual clients, but also to comment most meaningfully on key issues, and develop your events and communications programme to be most useful to your markets. Comments, or questions, as always welcome on 07940 886677 or...
by Robin Dicks | Oct 12, 2015 | Robin's Blog
One theme has been increasingly visible in some of the recent in-depth client feedback interviews we’ve done for firms. It’s connected to “commerciality” but it’s more profound than that. It’s not “technical expertise”, and actually it’s not a client servicing issue either. What it is, is about understanding the context in which the client works in. Their operating pressures, the environment in the sector they work in, and the types and demands of the different (external) stakeholders they work with. Some clients have told us that understanding this enables the firm to be realistic, pragmatic, and to drive strategic value and the “right” result. Otherwise the firm can deliver something that looks great on paper but – crucially – that they don’t much benefit from in the real world. Fee earner/professional advisor performance is hugely variable on this – but it doesn’t have to...
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 | Aug 16, 2013 | Uncategorized
At a recent presentation I made, the audience fed back pressing concerns that were impacting their firm’s ability to extend their relationships with clients. One attendee mentioned what I’ll call “client abandonment” – and this was recognised throughout the room as an issue. Put simply, its where those with client relationships “move on”, either because of pressing transactional work, greater demands from other clients, lack of appetite, a new job or even retirement. Ongoing dialogue with these clients – who may have significant needs for advise – either doesn’t exist or dries up. This was felt to be a big problem. If this issue exists in your firm, here are some initial bullet points on how to reduce its impact. Think about using a “grid” mapping clients against currently used specialisms, to identify clients where there appears to be potential to extend the relationship. Prioritise “anti-abandonment” efforts with these and put responsibilities in place. Utilise more junior fee earners as “second line relationship point people” for those relationships which may otherwise be abandoned. Those with an aspiration to become partners within the short-medium term often have good appetite to do this, and can be coached in relationship skills and behaviour. Use your existing systems to set up “alerts” where a client hasn’t instructed you for a suitable period (6 months, 12 months etc. as appropriate). Consider what process for contact – and who makes contact – will work for you and the client Use your feedback processes to ask clients how they would like to be communicated to. You can then focus efforts on the most relevant activities for...
