BD Roundtable

In this session we spoke with Stephen Revell and Philipp Thurner about why law firms should take referrals seriously, steps they can take to expand their existing referrals network, and how BD teams can help implement change.

Stephen Revell worked for Freshfields for over 41 years and led its “StrongerTogether” law firm relationship program. We will hear about the lessons he has learned from his experience leading this initiative and talking to hundreds of law firms over the years. Stephen is also the founder of Making Change Happen, a law firm management consultancy focused on change and specializing in various areas including business development.

Philipp Thurner is the CEO and Founder of NEXL, a lawyer-to-lawyer community helping to build stronger referral relationships. He has helped build a community of over 3,000 lawyers and we’ll learn his best tips for strengthening existing referral relationships and building new ones.

Interview Covers

Why firms need a referral system Taking on a deal counsel role Developing a list of preferred firms Best Friends vs. Good Friends relationships Outbound and inbound referrals Importance of tracking referrals How to reach out to firms you don't know

Roundtable Session Covers

Overcoming cultural changes Converting lawyer contact to firm contacts Getting lawyers to participate Tips for what information to track Handling old data Following up on lost referrals

We spoke with Barbara Koenen-Geerdink to get her best tips for running more engaging and interactive training sessions with our lawyers. We cover running virtual trainings, how to measure success, and success stories to inspire your next training.

Barbara Koenen has over ten years of business development and marketing experience in the professional services industry. She is the author of the business book Beyond Billable Hours.

Interview covers:

BD teams doing trainingWhy you need a training proposalHow to announce upcoming trainingsTips for keeping trainings engagingRunning virtual trainingsEasy ways to keep people’s attentionLearning from mistakesBarbara’s book, Beyond Billable Hours

Roundtable session covers

Building out the training structureTrain the trainer coursesTraining timelines and flowsWhat to do after the trainingsVirtual trainings engagement tools

We spoke with Colin Jasper about how law firms can justify their fees and how BD teams can demonstrate this value in firm collaterals.  Colin will help us better understand the pricing process. 

As Principal at Positive Pricing, Colin helps professional services firms win more work, at higher prices, while improving client satisfaction.

Discussion covers

00:00 Introductions00:42 What good pricing looks like and the process06:30 Hourly rates and when to use them07:45 Avoiding pricing to the bottom12:48 Demonstrating value in proposals16:40 The number one pricing strategy firms aren't using20:18 Constructing pricing options25:26 Avoiding invoice shock

Connect with Colin on LinkedIn at: https://www.linkedin.com/in/colin-jasper-7a401213/

We spoke with Colin Jasper about how law firms can justify their fees and how BD teams can demonstrate this value in firm collaterals.  Colin will help us better understand the pricing process. 

As Principal at Positive Pricing, Colin helps professional services firms win more work, at higher prices, while improving client satisfaction.

Discussion covers

00:00 Introductions00:42 What good pricing looks like and the process06:30 Hourly rates and when to use them07:45 Avoiding pricing to the bottom12:48 Demonstrating value in proposals16:40 The number one pricing strategy firms aren't using20:18 Constructing pricing options25:26 Avoiding invoice shock

Connect with Colin on LinkedIn at: https://www.linkedin.com/in/colin-jasper-7a401213/

We spoke with Eric Chin, Principal, Alpha Creates about how BD/marketing teams can use data to better support our firm operations. Viewers will learn what are the key data metrics firms can use to inform their BD discission and how BD teams can easily prepare, analyse, and present this information to stakeholders.

Eric is well known in the legal tech sphere and has helped the legal industry better understand how traditional law firm models are being challenged by ‘NewLaw’.

Discussion Content

What is the role of BD in a law firm?Key metrics to look atVisualizing cross-selling and leverage ratiosVisualizing fees billedOther metrics to evaluate clientsRecommended visualization toolsCollections difficulties

We spoke with Eric Chin, Principal, Alpha Creates about how BD/marketing teams can use data to better support our firm operations. Viewers will learn what are the key data metrics firms can use to inform their BD discission and how BD teams can easily prepare, analyse, and present this information to stakeholders.

Eric is well known in the legal tech sphere and has helped the legal industry better understand how traditional law firm models are being challenged by ‘NewLaw’.

Discussion Content

What is the role of BD in a law firm?Key metrics to look atVisualizing cross-selling and leverage ratiosVisualizing fees billedOther metrics to evaluate clientsRecommended visualization toolsCollections difficulties

We spoke with Alistair Marshall, Director at Professional Services BD about how implementing client review meetings in your firm can increase revenue.

Alistair Marshall has over 30 years of experience in business development, helping hundreds of organisations to become easier to buy from.

Discussion Content:

IntroductionsWhen to hold a client review meeting.Identifying meeting objectives.Who should attend?Questions to ask during the meeting.Cross-selling and how not to do it.What to do after the client review meeting.

Get in touch with Alistair on LinkedIn: https://www.linkedin.com/in/alistairm…

We spoke with Katherine Mountford about building the ideal legal BD and marketing team, what skills are in demand, and how we can upskill our existing teams.

 Katherine is Principal and Owner of KM Talent, a recruitment, career coaching, and personal development consultancy. Katherine was a professional services BD & Marketing manager before moving into recruitment 15 years ago.

Discussion Topics

How have law firms reacted to COVID?Support roles vs value-added rolesDifference between marketing and business developmentQuestions to ask intervieweesTrending competencies in the legal industryOutsourcing BD functionsChanges in job descriptions and requested skillsHow to handle the workloadSourcing candidates from other industries

Connect with Katherin on LinkedIn: https://www.linkedin.com/in/katherine…

Visit KM Talent at: https://kmtalent.com.au/

We spoke with Katherine Mountford about building the ideal legal BD and marketing team, what skills are in demand, and how we can upskill our existing teams.

 Katherine is Principal and Owner of KM Talent, a recruitment, career coaching, and personal development consultancy. Katherine was a professional services BD & Marketing manager before moving into recruitment 15 years ago.

Discussion Topics

How have law firms reacted to COVID?Support roles vs value-added rolesDifference between marketing and business developmentQuestions to ask intervieweesTrending competencies in the legal industryOutsourcing BD functionsChanges in job descriptions and requested skillsHow to handle the workloadSourcing candidates from other industries

Connect with Katherin on LinkedIn: https://www.linkedin.com/in/katherine…

Visit KM Talent at: https://kmtalent.com.au/

If part of your BD role is to manage legal directory submissions like Legal 500 and Chambers and Partners, you’ll want to listen to this interview with Danielle Vidigal, Director of Vidigal Marketing, a legal marketing boutique based in London.

Danielle is a former Chambers and Partners researcher and we spoke with her to get a behind the scenes look at what researchers look at when evaluating a submission and what best practices we should adopt in our firms.

Discussion Content:

0:00 Introductions0:48 Starting work at Chambers2:15 Why we should participate in submissions4:57 Paid profiles vs non-paid profiles7:00 What happens after we submit12:25 What to add in the practice group description15:25 Writing matter descriptions19:00 How to manage the submission process22:40 Getting in touch with Danielle23:26 Q&A session with BD Roundtable members

Get in touch with Danielle at: LinkedIn: https://www.linkedin.com/in/daniellev…

Website: https://vidigalmarketing.com/