2010 – Issue 02: Business Development: The Perfect Recipe for Making Rain- It's More than Marketing for Atttorneys & PR for Engineering Firms

Berbay Marketing & PR
Berbay Marketing & PR Team

In this issue:

Business Development: The Perfect Recipe for Making Rain

Marketing Checklist

Facebook Can Be a Great Marketing Tool

Top M&A Advisors Expect to See an Uptick in Deal Activity


Marketing Checklist

Start planning now if you want to maximize the results you get from your marketing for the rest of the year in areas such as:

  • Speaking
  • Website/SEO
  • Exhibiting
  • Social Media

Download a printable PDF of “Marketing Checklist.”


Top M&A Advisors Expect to See an Uptick in Deal Activity

In a survey conducted by M&A communications advisors, the Brunswick Group LLC, 78% of respondents anticipate that M&A activity will continue to increase, and 22% predict that it will stay the same as the level seen in this year’s first quarter. No advisors anticipate a drop in deal activity
(www.brunswickgroup.com).

BUSINESS DEVELOPMENT: THE PERFECT RECIPE FOR MAKING RAIN

By: Sharon Berman
Published: Rain Today

In the past, the most pervasive and perplexing challenge in professional service marketing was motivating young associates to become rainmakers. As times got tougher, that challenge expanded to include the principals and partners who never had to market before. Suddenly, the large cadre of seasoned professionals who used to be the “minders” and “grinders” of the work others brought in are in the spotlight and under pressure to become business developers.

Whether it’s a law firm exhorting its associates to market or an engineering firm prodding its senior professionals to make some rain, the problem is equally daunting. Although there is no “magic wand” that turns people into business developers, some firms have been more successful than others by applying a recipe that consists of four distinct ingredients: commitment, culture, compensation, and cultivation.

Commitment

When business slows significantly, the impetus for asking more of a firm’s professionals to market often stems from panic. Unfortunately, business development doesn’t happen overnight. Effectively transforming service providers into rainmakers is a long-term proposition that requires persistent commitment from firm management. It takes a farmer’s patience and perseverance to plant the seeds, see them take hold, and nurture them to grow to fruition.

In the absence of long-term commitment, firms usually embark on a series of unsuccessful programs designed to teach their professionals how to generate sales. This is worse than maintaining the status quo because your team will quickly see through your sizzle-without-substance efforts and won’t take them seriously.

Continue reading Business Development:The Perfect Recipe for Making Rain to find out how to cultivate the four C’s of business Development.

Download a printable PDF of Business Development: The Perfect Recipe for Making Rain.


Facebook Can Be a Great Marketing Tool, but Beware if You’re Going Through a Divorce

The results of a recent survey showed that members of the American Academy of Matrimonial Lawyers pointed to Facebook as holding the distinction of being the leader for online divorce evidence with 66% of respondents citing it as the primary source for compromising material (www.aaml.org).

 

About Berbay Marketing & PR

Berbay Marketing & PR is a marketing and public relations firm specializing in working with professional service providers including law firms, real estate, finance, accounting and other professional services businesses. We’re marketing and public relations specialists who take marketing “hows?” and turn them into “wow!” results.

Please visit www.berbay.com to read more about marketing your professional services. If you’d like more information about any of our marketing and public relations services, please call (310) 405-7345 or email berman@berbay.com.

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Berbay Marketing & PR
2001 South Barrington Avenue, Suite 305 • Los Angeles, CA 90025
(310)-405-7345 Fax: (310)-914-4201 • info@berbay.com


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