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Evolution Not Revolution
Simon White
Wilkinson Read & Partners
21st June 2012
© Simon White 2012
Half a league, half a league, Half a league onward,
All in the valley of Death Rode the six hundred.
Its Two Worlds(Or “It’s life Jim, but not as we knew it”)
Legal Aid –v- Private Client
Process-v- Service
(Fixed Fee-v- Hourly Rate)
Need –v- Expectation
Specification v Specification
Transaction v Relationship
The Legal Aid Practice Profit Pipeline The Five-Stage Process of Creating Value
Taxi Rank
Rates and Payment Terms dictated by LSC
The Private Practice Profit Pipeline The Five-Stage Process of Creating Value
If you neglect the beginning the pipeline empties
If you neglect the endall the effort is wasted
Be Careful What You Wish For - What Gets Measured Gets Better
The Value Proposition – What’s Yours??
Value
• Value proposition– What do you help people achieve, and what
does that mean to them????
• Value = Experience – Expectation
• And leads to referrals, repeat business
Talking to clients about value
Context
In which we do it
Content
Of whatwe do
The Customer Journey
Read an article
Subscribe to ezine
Hear a talkDownload Resources
Google search
Phone someone
Make Contact
How does your Customer find
you?
Social Media
© Simon White 2012
Simon’s Sustainable Platform
Niche
Value Proposition
Conversations
Networking
Showcase
Alliances
Keeping-in-touch
Referrals Leads
Service Delivery
Dat
abas
e
Trust
ProfilingAppointment
Repeat Work
Attribute Source
Confidence
Ideal Client
Client’s World
Habit
Simon’s Sustainable PlatformA Void……
Niche
Value Proposition
Conversations
Leads
Service Delivery
Trust
Appointment
Repeat Work
Attribute
Confidence
Ideal Client
Client’s World
Habit
Believe
Like
Trust
Simon’s Sustainable PlatformFilling the Void
Networking
Showcase
Alliances
Keeping-in-touch
Referrals Leads
Service Delivery
Dat
abas
e
ProfilingAppointment
Repeat Work
Attributes Source
1. Repeat Business……
• For most Professional Services, this is Number ONE source (though it needs cultivating)
• Belief Liking & Trust Already There
• But for Family??????
2. Referrals from Satisfied ClientsOver 80% of surveyed professionals said Referral is •Their best (most productive) source of new clients•Source of their many of their Best New Clients•But most just hope it will happen•Belief Liking and Trust Transferred by somebody they already know and like….
Maximum Results depend on..•Satisfying the Client, Systems (inc Keep in Touch), Conversations, Timing……
3. Referrals from Strategic AlliesCarefully chosen sources ….
•Other Professionals
•Community Connectors
•Belief Liking & Trust Transferred by somebody they already know and like….
Mutually enhanced credibility…….
They will never refer the cheapest!!!!
Methods for Keeping in Touch
4. The Keep in Touch System
Key Contacts (less than 20)•Phone Calls and Meetings•Personal Emails•Social Events and Seminars•Research Programmes
General Contacts
Key Contacts
General Contacts - (100’s)•Published Newsletters•Electronic Newsletters•Business and Social Events•Market Summaries
5. Profiling
Demographic Profiling by Postcode
•Where your past clients came from…..
•Where your ideal clients are likely to be…
YOUR CONNECTIONS
‘Signposters’
Colleagues
Media Contacts
‘Target’ Clients
Suppliers
Neighbours
Friends of Friends
Intermediaries• Bank Manager• Accountant• IFA• Chamber of Commerce
Association Membership• Sport• Social• Political• Business
Children’s• Friends• Parents
Former ColleaguesFriends• Close• Wider• Past
Existing Clients
6. Your Network --- and your Colleagues
Networking Map
• If you would like a copy of Simon’s Networking map, please email him on
7. Showcase • Create Credibility
• Offline (Traditional)– In Print – Books, Articles, Magazines…– In Person – Seminars, Talks, Conferences...
• Online – Website, content and profiles– “You are what you publish”– Social Media…..
And a Word About Price!
In any developed
market, 90% of
customers would prefer
to buy on non-price
reasons and pay some
level of premium price
for perceived
additional value
10% will always buy the
cheapest – because
they don’t care about
the category
© Paul Fifield 2012
And a Word About Price!
In any developed
market, 90% of
customers would prefer
to buy on non-price
reasons and pay some
level of premium price
for perceived
additional value
10% will always buy the
cheapest – because
they don’t care about
the category
In an undeveloped
market, a proportion of
customers will still prefer
to pay premium price for
some additional value
A proportion appear to
want the cheapest but
have latent needs that
have not yet been
identified and exploited
Still, 10% will always buy
the cheapest
© Paul Fifield 2012
In order to be irreplaceable
one must always be different.
Coco Chanel (1889 – 1971)
© Simon White 2012
The Local Hero
• Integrated
• Reputation
• Consistency
• Respected
• Legacy
• “The Family Solicitor”
© Simon White 2012
The Local Hero
Key Steps
•Define your battleground
•Know your enemy
•Purpose
•Dedication
•Map Your Networks
© Simon White 2012
The Critical Non-Essentials
• The little things that make the Client (or Prospect) feel “Good and Important”– Reception– Telephone– Meetings– Service– Acknowledgement– Goodwill
© Simon White 2012
Stockdale Paradox
• Confront the most brutal facts of your current reality, whatever they might be
BUT• Retain faith that you will prevail in the end,
regardless of the difficulties
© Simon White 2012
What Will It Take?
© Simon White 2012
Question Time
