For your interest...here's a copy of an email sent Wed 1st Feb am to attendees of yesterdays KMS Future Forum in Melbourne...
Good morning everyone...
Just a quick note to thank you all for investing time and money yesterday afternoon and contributing very actively to a very good discussion...
Again lots of interesting issues!
Thinking more on the Brisbane flight last night, and reading more newspaper articles and web items on the Slater & Gordon UK purchase this morning, it strengthens my view that many firms will need to improve their business development efforts with existing clients and also in efforts to attract more prospective clients for future prosperity...
Until recently few firms who were targeting a wide range of legal work have had really deep pockets...but the wide push by Slater & Gordon, and surely others to follow, means they will continue heavy marketing, and that will have to have an impact on many firms across Australia (and the UK!)...just as heavy promotion by the group of leading Personal Injury firms has impacted on the work in that area for many smaller firms, particularly regionals...
Each firm will need to be clear who it is targeting for what work, clients and prospects, and have a clear strategy to communicate to those markets, to protect present work flows and increase them over time...
Those with specialist niches will initially have some advantage...and those with a good established client base have a very good advantage, but the client base has to be communicated to well with truly relevant helpful information...or it will undoubtedly erode as people are impacted by national marketing campaigns...
Productivity, profitability, and sound cash flows (through excellent engagement management, billing, and credit control) will be critical to avoid paralysis in some areas of B.Dev that might truly need a bit of hard dollar spend...
Many thanks again and best wishes for a terrific 2012...
I look forward to chatting with you about issues you indicated you are interested in individually, and will progress that shortly after I resurface from this road trip...
PS I have copied some of you who were not there yesterday simply to quickly give you the flavour of my thoughts on the need for even greater increased focus and intensity in Business Development...I trust it is of interest and value to you...
No comments:
Post a Comment