Marketing strategy Part One

1. Why Market?

Everywhere I go, professionals ask, “ Why should we market now? We have more business coming in the door than we can handle. Our phone is ringing off the hook.” Why would you want to motivate your partners and staff to help grow your firm if you are already busy?

What Smart Partners Say 

Here’s what the top partners of many of America’s leading CPA and legal firms tell me. 

• “Now is the best time to train the future owners of our firms to grow the practice. We have the cash flow to invest in marketing and training.”
• “During good times, we must become very selective as to the new clients we take. We must restrain ourselves to accept only the cream of the callers.”
• “During good times, we can afford to outsource some of our low end clients and add clients who are more profitable and fun to work with.”
• “During good times and staff shortages, some of our competitors are not giving the best in client service. Some of these clients can be persuaded to come try us out.” 

What Smart Associates and Staff Say 

• “By learning to market, I can have more control over whether I make partner or not.” 
• “If I just stay in the ‘back room’ and do the work, I will only be one-dimensional as a professional and won’t be contributing fully to the firm.”
• “The easiest way to get to do the kind of work I like, instead of whatever I happen to be assigned, is to develop the work myself. Besides, I like to think that certain clients are ‘mine.’”
• “As staff, my own job security and bonuses are better if I work for professionals who are doing well.”
• “Things are more interesting around here when there are new clients with new problems instead of the same old stuff.”
• “When I make myself more valuable by cultivating relationships with clients and handling routine stuff myself, I feel better about myself AND I get more recognition and rewards.” 
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2 Are You a Top Rainmaker? 

According to a Harvard Business School study, the best rainmakers in professional firms have certain characteristics. Most of the characteristics are the result of learning, not genetics. Most professionals can be rainmakers. If you are willing to study, practice, and focus on improving your selling performance, you can be a rainmaker.

      Evaluate yourself, and ask your partners to evaluate themselves on the following six attributes. Commit to an improvement program where there might be weaknesses.

Willingness to Spend Time to Develop “Like and Trust” 

 Businesspeople conduct business with people they like and trust. They won’t do business with you if they don’t like you, no matter how great a professional you are. If you are unwilling to personally meet with prospects, your prospects don’t have a chance to develop “like” with you. And, even though you are honest to the core, communicating ambiguity, uncertainty, or an unwillingness to take a position does not engender trust.

 Acceptance of Responsibility for Results

Too many people use a variation of the old line, “The dog ate my homework.” The best rainmakers take full responsibility for results. If you don’t succeed at winning the new account, don’t blame the economy or your partners. Instead, when you don’t meet with success, work harder to turn the negatives to your advantage later.

 

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