© Copyright Kim Tasso 2018
www.kimtasso.com
Strategic marketing and BD:
Joining the dots
Consortium 360 degree conference Kim Tasso BA(Hons) DipM FCIM MCIJ MBPsS MBA
Tuesday 17th July 2018
© Copyright Kim Tasso 2018
www.kimtasso.com
• Specialist in professional services marketing
• Over 20 years’ marketing and sales experience
• Previous senior in-house positions at Deloitte and Nabarro (BNP Paribas Real Estate, haysmacintyre, Hempsons, Mayer Brown, Olswang, Royds, Weil Gotshal)
• In 20 years won/retained over 300 clients
• Illustrative clients: Allsop, Anderton Gables (NED), Arup, Anthony Gold, Boodle Hatfield, Brown & Co, Colliers CRE, D&AD, E A Shaw (NED), Earl Kendrick (NED), GB², Grant Thornton, Haines Watts, Herbert Smith, Keating Chambers, KPMG, Jordans, Lane Clark & Peacock, LawSouth, Lexis Nexis, McGuire Woods, MHA Moore & Smalley, New Square Chambers, QEB, Rix & Kay, Russell-Cooke, SEGRO, Stiles Harold Williams, The Lawyer, Thomson Snell & Passmore, Woodfines, Wrigleys
• Honours degree in psychology, diplomas in marketing and coach/mentoring, counselling, NLP and an MBA
• Journalist for legal, marketing, banking and property (Estates Gazette) magazines. Former judge on Property Marketing Awards
• Lead trainer for Professional Marketing Forum and trainer for CLT and MBL
• Co-author of “Media relations in property” and author of “Dynamic Practice Development - Selling Skills and Techniques for the Professions”, “Growing your property partnership – Plans, Promotion and People” and “Rainmakers and Trailblazers – a step by step guide to business development for lawyers”
© Copyright Kim Tasso 2018
www.kimtasso.com
Better Business Relationships - DACRIE™
1. Difference - Understanding yourself and other people
Perception, emotions, empathy, EQ, NLP, personalities, cognitive styles, gender, generation, culture
2. Adaptation - Learning to change
Habits, comfort zones, changing self, changing others, reframing, stress
3. Communication fundamentals
Face to face, Non-Verbal Communication, informal and formal communication, storytelling, telephones, public speaking, presenting, written, emails, influence and persuasion
4. Relationship formation and conflict management
Relationship management competencies, relationship formation, types of relationship, commitment and loyalty, online relationships, disagreements and disruptions, rapport and trust, difficult behaviour, managing conflict, negotiation
5. Internal relationships
Workplace culture, bosses, politics, assertiveness, buy-in, groups and teams, mentors and coaches, managing virtual teams, delegation, coaching, motivation, leadership
6. External relationships
Client service, self-confidence, first impressions, building a contact base, differentiation, networking, social media selling, sales processes, exploring needs, decision making, questions, active listening, first meetings, pitching and tendering, key account management, referrer management
Available September 2018
http://www.kimtasso.com/better-business-relationships-new-book-pipeline/
© Copyright Kim Tasso 2018
www.kimtasso.com
Topics
1. The BD landscape for large and small firms
2. Align with business aims and strategy
3. Marketing
- Select and integrate critical projects
- Segmentation and personas
4. Business development
- Integrate marketing, selling and relationship management
5. Balance technology and relationships
© Copyright Kim Tasso 2018
www.kimtasso.com
The fee-earner perspective of business development
© Copyright Kim Tasso 2018
www.kimtasso.com
Integrate the business development process
Marketing
“Broadcast”
Strategic/planning
General needs
Service development
Market development
Pricing
Brand/Profile building
One to many
Lead generation
Selling (New business development)
Targeting and acquisition
Enquiry handling
Estimates/quotes
Networking/Opportunity to meet (events)
Pitches and tenders
EOIs/RFPs/ITTs
Specific client/needs
Pipeline management
One to one
Lead conversion
Client/referrer
relationship
management Retention
Development
Client care/CEM/CRM
Cross selling
Specific client/referrer
Key account management
Many to one
Relationship development
© Copyright Kim Tasso 2018
www.kimtasso.com
Defining marketing
“The management process responsible for
anticipating and meeting client needs profitably” (CIM)
Marketing is a process for:
o Defining markets
o Quantifying the needs of client groups (segments)
o Determining the value propositions to meet these needs
o Communicating these value propositions to all those people in the
organisation responsible for delivering/getting their buy-in
o Playing an appropriate part in delivering these value propositions to
the chosen market segments
o Monitoring the value actually delivered
© Copyright Kim Tasso 2018
www.kimtasso.com
The marketing mix – Those 4 Ps
Product
People
Promotion
Communications
Evangelism
Price Cost
Exchange
Place
Convenience
Everywhere
Client needs
Experience
Brand
Marketing strategy:
Getting the right product to the right place at
the right price with the right promotion
© Copyright Kim Tasso 2018
www.kimtasso.com
Segmentation - STP
“The process of
dividing up large
heterogeneous
markets with similar
needs into smaller
markets according
to shared
characteristics”
© Copyright Kim Tasso 2018
www.kimtasso.com
Markets and services matrix vs. personas
2015 Financial
services
TMT Real
Estate
Retail &
Leisure
Charities &
Not for
Profit
Corporate
Commercial
Banking and finance
Private client/Trusts
Intellectual property
Regulation
Litigation & Dispute
Resolution
Family
etc
2016 Financial
services
TMT Real
Estate
Retail &
Leisure
Charities &
Not for
Profit
Corporate
Commercial
Banking and finance
Private client/Trusts
Intellectual property
Regulation
Litigation & Dispute
Resolution
Family
etc
2017 Financial
services
TMT Real
Estate
Retail &
Leisure
Charities &
Not for
Profit
Corporate
Commercial
Banking and finance
Litigation & Dispute
Resolution
Intellectual property
Regulation
etc
https://www.kimtasso.com/back-basics-importance-
segmentation-personas/
© Copyright Kim Tasso 2018
www.kimtasso.com
The strategic process
1. Where are we now?
AUDIT
2. Where do we want to be?
VISION & SMART OBJECTIVES
3. How will we get there?
STRATEGY/CAMPAIGNS
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www.kimtasso.com
Audit for insight and innovation
Audit (SWOT)
Environment (SLEPT)
Clients and referrers
Markets
Internal
(Skills & Services)
Profits
Competitors
© Copyright Kim Tasso 2018
www.kimtasso.com
Contents of a strategic marketing plan
Mission statement
Financial summary
Market overview (SLEPT analysis)
SWOT analysis
Issues to be addressed
Portfolio summary
Assumptions
Marketing objectives
Marketing strategies
Resource requirements and budget
(The New Marketing: Transforming the corporate future
Malcolm McDonald and Hugh Wilson)
© Copyright Kim Tasso 2018
www.kimtasso.com
Other marketing strategy models
• SOSTAC™
– Situation
– Objectives
– Strategy
– Tactics
– Action
– Cost/Control
• ROSIER
– Research
– Objectives
– Strategy
– Implementation
– Evaluation
– Resources
© Copyright Kim Tasso 2018
www.kimtasso.com
Marketing strategy choices in a PSF
• Markets (segmentation, niche development)
• Services (portfolio management, new product development, innovation)
• Recruitment of new teams and skills
• Client Experience Management (CEM, technological efficiency, relationship skills)
• Pricing
• Reputation and branding (differentiation)
• Internal marketing
• Profile raising and positioning
• Digital marketing (PPC, SEO and content management)
• Thought leadership
• Client intimacy and existing client relationships (cross-selling)
• Targeting, contact marketing and selling
• Key Account Management (KAM)
• Referrer and intermediary management
• Collaboration and co-creation
http://www.kimtasso.com/marketing-planning-in-a-nutshell-
selecting-a-strategy/
http://www.kimtasso.com/differentiation-strategies-innovation/
© Copyright Kim Tasso 2018
www.kimtasso.com
The end goal – An illustrative campaign plan
M A M J J A S O N D J F
Project planning/monitoring
Analysis and research
PROFILE RAISING/ENGAGEMENT
Media briefing/articles/blogs
Conference speaking
Networking (external)
INTEREST/LEAD GENERATION
Email newsletter
Social media
Seminar invitations
EVENTS/INTERACTION
Referrer/intermediary meetings
Our seminar series
Seminars with referrers
SALES MEETINGS/CONVERSION/DEVELOPMENT
Telemarketing calls
Prospect/client meetings
Pitches/presentations
MARKETING
SELLING
RELATIONSHIP
DEVELOPMENT
© Copyright Kim Tasso 2018
www.kimtasso.com
Analysis and research
Strategy and planning
Brand
Campaigns/Communications
Product/service development
Internal communication
Business Development
Sales and Pitching
CLIENT CARE/CEM
Touch points
and “moments of truth”
Service excellence
RELATIONSHIP MANAGEMENT/
CLIENTOLOGY (CRM)
Serving, communicating with
and developing all clients
KEY CLIENT
MANAGEMENT (KAM)
Structured approach
for largest clients/referrers
SECTOR GROUP
Tailoring products/services
© Copyright Kim Tasso 2018
www.kimtasso.com
Marketing - Sales - Account Management Spectrum © Kim Tasso 2003
Aw
are
ne
ss
Action
Pro
sp
ect
Co
nta
ct
Active
Clie
nt -
On
e s
erv
ice
Ad
vo
ca
te/r
efe
rre
r
Pa
rtn
er
Clie
nt - A
ll se
rvic
es
Marketing (Brand/Communications)
Selling
Client relationship management
• Advertising
• Public relations
• Media
• Publications
• Referrers
• Seminars
• Internal marketing
• etc
• Direct and digital marketing
• Sales promotion
• Research
• Information systems
• Market know-how
• Analysis & Targeting
• Sales management
• Networking
• Telemarketing
• Events
• Proposition development
• Presentations
• Pitches and proposals
• Client care/clientology
• Satisfaction interviews
• Account plans
• Cross selling
Ma
rket re
se
arc
h -
Str
ate
gy f
orm
ula
tion -
Se
gm
en
tation -
Po
sitio
nin
g
Service development
Proposition development
© Copyright Kim Tasso 2018
www.kimtasso.com
Planning Attract &
Engage
Nurture & Convert
Deliver
Retain &
Develop
Planning
Client Experience Management (CEM, Cx, client journey mapping)
Aims/Objectives
Strategies
Pricing
Product/service development
Monitoring, measurement and evaluation KAM plans
Research Internal analysis
External environment
Competitors
Markets/segments
Referrers
Channels/Media
Clients/target information
Analytics
Conversion rates
Mystery Shopping
Pitch debriefs
Quality
Service level agreements
Satisfaction
KAM profiles
Brand Branding strategy
Design/Tone of voice
Web site
Social media accounts
Communications
Marketing
communication
Content Management Plan (and thought leadership) , campaign planning and project management
Segmentation/Sectors
Personas
Media relations
PPC/SEO
Digital communications
Social media
Community engagement
(on and offline)
CRM/database management
Newsletter subscriptions
Downloads
Enquiry management
Events
Selling/Pitches/Tenders
Client alerts/updates
Events
Client-specific
communications
Third party relationships
Client Relationship Management
Fee-earner
relationships
Internal communications/internal marketing (Buy-in)
Education/training
Reward/motivation
Personal BD planning
Content development
Social media
Enquiry management
Events
Meetings
Presentations/Pitches/tenders
Sales coaching
Client communications
Service delivery
Work/case management
Account management
Billing and invoicing
Cross-selling
Referrer management
KAM teams
Joining the marketing/BD dots© Kim Tasso 2018
© Copyright Kim Tasso 2018
www.kimtasso.com
Some technology developments
• Intapp (Self-managing data) – Integration platform to access and interrogate all of your firm’s data – regardless of the system
– Integrates information from external proprietary systems
– Search narratives on time recording, invoices and documents emailed by fee-earners
– Prompts fee-earners to provide details of clients/transactions where data are missing
– Enables sophisticated analysis to support pricing decisions and profitability improvement, client relationship management and the assembly of pitch documents
– Uses artificial intelligence (AI) and machine learning to highlight trends it detects
• Vuture (automated and personalised client experience management) – Potential for end-to-end automation of communications campaigns
– Creation of web sites and event domains, content management, email marketing and newsletter support
– On-line event management where clients enter their dietary and workshop options themselves
– System tracks client interests and ensures that they receive further information automatically
– Deals with GDPR
• Passle (Content management and distribution) – Allows fee-earners to create and share content – and to monitor the engagement on each item
– Powerful analytics to monitor that content across the firm in the omni-channel environment.
• Performance Leader (Performance and feedback management) – Allows clients to rate their advisers at any time and provide feedback at any stage of a project
– Supervisors can monitor KPIs, career plans and internal and external feedback for individual fee-earners in real time
https://www.kimtasso.com/marketing-technology-revolution/
© Copyright Kim Tasso 2018
www.kimtasso.com
Nine generic properties of a good marketing strategy
1. Clarity of scope
2. Definition of intended competitive advantage
3. Internal consistency and synergy
4. Degree of uniqueness
5. Congruence with the external environment
6. Consistency with the firm’s objectives
7. Acceptable risk level
8. Feasibility within the firm’s resources
9. Provision of a level of guidance to tactical activity
© Copyright Kim Tasso 2018
www.kimtasso.com
Four ways to improve your strategic thinking skills (HBR Nina Bowman)
1. Know: Observe and seek trends - Understand industry context
and business drivers
- Heads up and observe external and internal trends
- Focus, prioritise and be proactive
2. Think: Ask tough questions - How do I broaden what I
consider?
- Be more curious
- What would success look like?
3. Speak: Sound strategic - Prioritise and sequence
thoughts
- Structure message to focus on core message
- Challenge underlying assumptions
4. Act: Make time for thinking and embracing conflict
- Evaluate tasks (urgent vs important)
- Block out thinking time
- Embrace debate and invite challenge
- Clarify decision making criteria
https://hbr.org/2016/12/4-ways-to-improve-your-strategic-thinking-skills
© Copyright Kim Tasso 2018
www.kimtasso.com
Learn to say “No” and make choices (Good strategy, Bad Strategy -
Richard Rumelt)
• “Most complex organisations spread rather than
concentrate resources, acting to placate and pay off
internal and external issues”
• “Good strategy requires leaders who are willing and able
to say no to a wide variety of actions and interests”
• “Strategy is at least as much about what an organisation
does not do as it is about what it does do”
• “Strategy involves focus and, therefore, choice”
http://www.kimtasso.com/book-review-good-strategy-bad-strategy-the-
difference-and-why-it-matters-by-richard-rumelt/
© Copyright Kim Tasso 2018
www.kimtasso.com
http://www.kimtasso.com/property-marketing-case-study-client-key-client-
relationship-management-jll/
http://www.kimtasso.com/accountancy-marketing-case-study-haines-
watts-accountants-love-money-thought-leadership-campaign/
http://www.kimtasso.com/case-study-law-firm-marketing-mishcon-de-reya/
© Copyright Kim Tasso 2018
www.kimtasso.com
Kim Tasso BA(Hons) DipM FCIM MBPsS MCIJ MBA
RedStarKim Limited
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Twickenham TW3 2LR
Telephone/Fax: 020 8898 0631
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