Effective selling professional services

Effective selling professional services

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  Effective Selling -Professional Services John Colvin July 2015
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  Effective Selling –Professional Services Discussion points 1. Marketing and Sales Process Map 2. Need for Vision 3. Role of Positioning 4. Importance of Differentiation 5. Role of Values 6. High Level Process Map 7. Account Management 8. Bid Management 9. Sales Management 2
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  1. Map ofMarketing and Sales Process 3 Market Segment Total Market Single Client ANGLE OF VIEW TIMESCALE WeeksYears Corporate Positioning and Promotion Market Segmentation Segment Marketing Networking Marketing Programmes Sales Conversion Account Management Bid Management Sales Management
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  2. Need forVision • To be the leading law firm in Australia • Marketing, sales and operating processes all need to be framed with a purpose in mind. • This aspiration governs everything that the firm does. 4
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  2. Need forVision What does "leading" mean? • Owners • 30% return on revenue • Clients • Research confirms firm seen by major corporates as best supplier of consulting services • Staff • Research confirms that firm seen by all levels of staff as the best place to work 5
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  3. Role ofPositioning • What industries? • What companies? (large, medium, small) • What clients? • What services? • A lot of choices 6
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  4. Importance ofDifferentiation • Differentiation based on our assets • People • Know-how (consulting, industry, issue, thought leadership etc) • Processes and systems • Style • Track record • Customer relationships • Brand - reputation • Which ones do we choose and why? 7
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  5. Role ofValues • The brand is a result of • What we do (products/services) • How we do it (behaviours) • So every professional has a chance to enhance or dilute the brand with every client interaction • Consistent behaviours with clients is a key feature of every world class professional services firm 8
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  6. High LevelProcess Map 9 Firm ValueMarketing/Sales Management Thought Leadership (Platforms) Account Management Bid Management Matter Debrief/ Customer satisfaction ENABLING PROCESSES • Knowledge management • Precedents • All other know- how • Recruitment • Career Path • Assessment & Rewards • Training & Development • Service & Product Development Marketing Communications C U S T O M E R I N D U S T R Y • Policy development, deployment, maintenance & conformance CORE CAPABILITIES Resource Management Risk Management Financial Management C O R E P R O C E S S E S • Personal Relationships • Account Relationship & History • Industry Knowledge • Legal Knowledge • Thought Leadership • Methodologies • Matter Summaries • Tools & Techniques • Referral relationships • Skills • Competencies • Track record • Strategic & Commercial Nous • Values & Behaviours • Style • Products (eg SILC) • Firm policies • Adherence to policies Pricing Management – Relationships – Project Mngt. – Operating Risk Mngt./QA Matter, Management & Operation CLIENTS KNOWLEDGE • Management processes • Business processes • Infrastructure - Hardware - Networks - Software • Operating Systems PEOPLE PRODUCTSPOLICIES SYSTEMS & PROCESSES TECHNOLOGY • Precedents • Opinions • Advices • Infobanks • Process & systems development • Technology platform development & maintenance • Organisation & work re-design • Management Systems • Legal Systems • Business Systems Vision & Values Strategy Structure Planning Policies & Procedures Measurement Guidelines Appraisal Reward MIS REFERRALS Brand Strengths Client Base Market Share Profit Ability Lawyer Attraction MANAGEMENT PROCESSES MANAGEMENT SYSTEMS
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  7. Account Management 10 Thought leadership  Product/service development  Trends  Alliances  Competitors  Which segments  Which clients  Which services/products  Desired profitability Services Markets Business Plans Account Plans Environment  Technology  Regulation  Globalisation Desired Brand Image Actual Brand Image
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  7. Account Management 11 Years 1.5210.25 Long-term Short-term ACTION PLAN Strategic Milestones Firm’s Goal for the Account Account Vision 3 years 2 - 3 years 1.5 years 3 - 4 months
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  7. Account ManagementProcess • Greater focus on customer's business • Focus on understanding customer organisation and developing relationships • Uniform process for planning and managing all accounts • Pragmatic and system process for identifying biggest profit improvement areas, developing competitive solutions and cost-effective plans • Focus on priorities • Teamwork approach Aim: To increase customer satisfaction and to identify solutions which grow customer’s business 12
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  7. Standard AccountManagement Tools • Account Planning Tool • Addressing all the business you do with the account • One plan per account (very large organisations may justify more than one plan) • Update and review quarterly • Customer Satisfaction Scorecard • Identifying major improvement areas • Update and review as appropriate • Opportunity Planning Tool • Managing specific pieces of potential business (bids and prospects) • One plan per significant sales opportunity within the account • Continual update and review process • Success through anticipating and meeting customer needs better 13
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  7. Account Management– Summary 14 Elements of Account Planning Current Position Our Goal Account Performance Recent Major Sales & Losses Account Vision Relationships Account Business Environment Projects and Opportunities Brain- storming Strategic Milestones to Achieve Account Vision and Goal Basic Competitive Requirements Weaknesses Strengths Competitive Advantage Competitors Risks A n a l y s i s C u s t o m e r V i e w p o i n t Agreeing Milestones and Action Plan
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  8. Bid Management 15 Elementsof Bid Strategy Summarised by “Blue Sheet” Single Sales Objective Competitive Position Key Buying Criteria? Buying Influences Results Wins How Well Covered? Agreeing a Strategy Position Today Strengths/Weaknesse s Possible Actions Agreed Actions a n a l y s i s
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  9. Sales Management 16 1.5: 11.5 : 11.5 : 1 Sales Management Process Inputs Account Mgmt. Bid Mgmt. Marketing Direct Enquiries Opps Qualified Opps Proposal Sales Stock Utilisation Revenue Cash Management of Sales Process Management of Operating Resources Extensions (80%) 80% + 13 w
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  Contact Details 17 John Colvin Principal E:[email protected] M: +61 409 183 174 S: +61 2 8823 3485 Level 36, Governor Phillip Tower 1 Farrer Place, Sydney NSW 2000, Australia Sandra Heinig Senior Associate E: [email protected] M: +61 416 731 897 S: +61 2 8823 3485 D: +61 2 8823 3487 Level 36, Governor Phillip Tower 1 Farrer Place, Sydney NSW 2000, Australia Sian O’Shaughnessy Research Analyst E: [email protected] D: +61 2 8823 3485 Level 36, Governor Phillip Tower 1 Farrer Place, Sydney NSW 2000, Australia