Page 56 - 2019 - Leaders in Legal Business (n)
P. 56
individuals who historically have been referred to as “non-lawyers” and include them in the
decision-making about the strategic direction of the firm. Now onto purely sales.
One operational area of today’s firms is the sales and marketing group that focuses on
marketing, business development, and sales.
To clarify the difference between sales, business development, and marketing, here are
some definitions. The term sales describes the process of pursuing a specific revenue opportunity.
It is the face-to-face, relationship-building activity that will help build new business from existing
clients and new clients, or direct contact with the end buyer(s). Direct selling in the legal industry
has become competitive and strategic.
Business development is a “softer” side of sales and generally includes those activities that
support sales efforts, such as RFP writing and responses; proposal writing; client relationship
management support tools (databases that keep track of contacts); and internal support of the
lawyers’ sales efforts and needs, including BD coaching and training. In short, business
development is closer to marketing than it is to sales on the spectrum. The terms are used
interchangeably by some professionals to avoid the negative connotation they perceive the word
“sales” may have. Business development managers support lawyers who are often in direct contact
with the end user of the legal services.
Marketing is often described as brand-building efforts like article writing; speaking;
attending conferences; or running firm seminars, public relations/marketing communications,
website management, and other related activities that help raise visibility in the marketplace or
support efforts to do so. Marketing research is another important area. Conducting research to
help identify potential opportunities is a wise investment before spending unnecessary dollars in
branding a firm. Marketing activities are those that support business development and sales efforts.
We sometimes describe sales as “one to one” and marketing as “one to many.” These three
terms — sales, marketing, and business development — are used interchangeably, often because
there is confusion among legal professionals about the various activities, and also because the word
“sales” can be seen as a very negative word among lawyers. The fact of the matter is, most of law
firms’ clients have sales teams, and all firms have one or more rainmakers. These people help to
drive revenue and to bring new business to their firms. They perform in the same manner as
salespeople in the business world.
An example of how these activities all connect is as follows. A lawyer writing an article or
giving a speech (marketing activities) may continue to leverage the article or the presentation in a
number of ways that expand their marketing use, including linking the article or presentation to
the firm’s website, adding them to one’s LinkedIn profile, and/or sending them to other lawyers in
the firm to share with their clients and contacts. An article may be used to generate interest in one’s
services through a more direct approach — in other words, as a sales tool. Reaching out to a
prospective client with information about a current trend, regulatory change, or creative approach
to a project is a sales outreach and offers the opportunity to connect directly with an individual to
discuss their business goals and, therefore, anticipated legal needs. These marketing activities give
lawyers the opportunity to use the time invested in preparing an article or speech (for example)
and turning it into a sales opportunity.
To summarize, directly driving revenue is selling, and maintaining and growing
relationships (or supporting those who do) is business development. Both are necessary to sustain
a firm. Both have value and should be recognized.
For assistance with the next step — turning a contact into a client — more firms are hiring
business professionals to help out.
41
decision-making about the strategic direction of the firm. Now onto purely sales.
One operational area of today’s firms is the sales and marketing group that focuses on
marketing, business development, and sales.
To clarify the difference between sales, business development, and marketing, here are
some definitions. The term sales describes the process of pursuing a specific revenue opportunity.
It is the face-to-face, relationship-building activity that will help build new business from existing
clients and new clients, or direct contact with the end buyer(s). Direct selling in the legal industry
has become competitive and strategic.
Business development is a “softer” side of sales and generally includes those activities that
support sales efforts, such as RFP writing and responses; proposal writing; client relationship
management support tools (databases that keep track of contacts); and internal support of the
lawyers’ sales efforts and needs, including BD coaching and training. In short, business
development is closer to marketing than it is to sales on the spectrum. The terms are used
interchangeably by some professionals to avoid the negative connotation they perceive the word
“sales” may have. Business development managers support lawyers who are often in direct contact
with the end user of the legal services.
Marketing is often described as brand-building efforts like article writing; speaking;
attending conferences; or running firm seminars, public relations/marketing communications,
website management, and other related activities that help raise visibility in the marketplace or
support efforts to do so. Marketing research is another important area. Conducting research to
help identify potential opportunities is a wise investment before spending unnecessary dollars in
branding a firm. Marketing activities are those that support business development and sales efforts.
We sometimes describe sales as “one to one” and marketing as “one to many.” These three
terms — sales, marketing, and business development — are used interchangeably, often because
there is confusion among legal professionals about the various activities, and also because the word
“sales” can be seen as a very negative word among lawyers. The fact of the matter is, most of law
firms’ clients have sales teams, and all firms have one or more rainmakers. These people help to
drive revenue and to bring new business to their firms. They perform in the same manner as
salespeople in the business world.
An example of how these activities all connect is as follows. A lawyer writing an article or
giving a speech (marketing activities) may continue to leverage the article or the presentation in a
number of ways that expand their marketing use, including linking the article or presentation to
the firm’s website, adding them to one’s LinkedIn profile, and/or sending them to other lawyers in
the firm to share with their clients and contacts. An article may be used to generate interest in one’s
services through a more direct approach — in other words, as a sales tool. Reaching out to a
prospective client with information about a current trend, regulatory change, or creative approach
to a project is a sales outreach and offers the opportunity to connect directly with an individual to
discuss their business goals and, therefore, anticipated legal needs. These marketing activities give
lawyers the opportunity to use the time invested in preparing an article or speech (for example)
and turning it into a sales opportunity.
To summarize, directly driving revenue is selling, and maintaining and growing
relationships (or supporting those who do) is business development. Both are necessary to sustain
a firm. Both have value and should be recognized.
For assistance with the next step — turning a contact into a client — more firms are hiring
business professionals to help out.
41
