Using Professional Marketing and Public Relations Firms

Professional services firms also use marketing and public relations firms to assist them in developing business. Marketing and public relations firms specialize in developing name and brand recognition across selected segments of the population. Some of the many tools at their disposal include media such as television, newspapers, and periodicals. Additionally, these firms can assist in securing public speaking engagements, which, as we have discussed, are valuable tools for developing business. However, this technique is not widely used by professional services firms for several reasons:

Outsourcing your marketing efforts is widely viewed as a passive method of developing business and, therefore, is not a common technique among professional services firms. More specifically, the outsourcing model does not require or even allow for much, if any, interaction between professionals and their clients or prospective clients. Rather, because this model focuses on developing the recognition of brands, this model has primarily been adopted by companies selling their products to the public at large, not professional services firms.

As with advertising, many firms have chosen to steer away from the outsourcing model because it is can be difficult to quantify the return on your investment. Human and financial resources are limited. Therefore, most firms are more comfortable with techniques that either dont require a large capital investment or those for which they can quantify a return on investment.

The outsourcing model can be costly and a severe strain on the financial resources of a smaller professional services firm.

This model should only be considered if the firm is willing to expend significant resources (time and money) on the efforts of your external marketing team. There are enough large companies to keep the marketing and public relations firms busy so that the smaller professional services firms are often not attractive targets for them. As a result, the smaller firm will receive little, if any, attention.

The Pitch

The focus of this chapter has been on developing business. However, most of the techniques and models discussed herein will not, in and of themselves, result in paying clients. There is usually an additional step. Techniques such as relationship building and public speaking will open the door to opportunities, but before those opportunities develop into paying clients, you will need to

close the deal. At this point, the pitch becomes the most important area of focus. Developing a strong pitch is multidimensional. Rob Levinson, a columnist for Startup Journal, wrote an article titled, Help! I Got the Meeting, Now What Should I Do? In that article, Levinson discussed the three stages for pitching business to prospective clients: (1) the prepresentation, (2) the presentation itself, and (3) the postpresentation. Many of the techniques involved in these stages have been discussed and are used on a daily basis to develop business.2 While the topic of proposals and qualification management is covered in detail in Chapter 7, we briefly address a few points here.

Prepresentation

Always Appear Professional and Prepared. It is often the little things that separate the firm from the competition. Therefore, always look professional (e.g., wear a suit or appropriately formal attire) when meeting a prospective client. Even if the prospective client is not dressed in a suit, he or she will appreciate your professionalism. Further, whenever you travel to a meeting, always park far away from the entrance to the building to allow an opportunity to assemble yourself without appearing disheveled or disorganized to the potential client, who may be looking out the window or awaiting your arrival at the entrance.

Walk, in Smart. Before your meeting, call the prospective client to introduce yourself and thank him or her for agreeing to meet with you. During this conversation, ask pointed questions that will help you discover information about the prospective clients situation and allow you to tailor your presentation accordingly. Further, during this call you will be able to assess the prospects sincerity and confirm that the prospect has the resources, decision-making authority, and mind-set to hire you.

Your success depends on how well you understand your potential clients business. The SWOT analysis will assist you in pinpointing the companys strengths, weaknesses, opportunities, and threats. Weaknesses and threats are pain points -areas where the organization is vulnerable and needs attention. This, combined with the specific client feedback garnered in the previous step, will be the basis for the solution you offer in the presentation.

Create a Storyline. Based on the information uncovered through the SWOT analysis, build a presentation that communicates your understanding of the prospective clients industry, illustrates your related experiences, and convinces the prospect that you can solve their problems. While your industry experience may make for interesting chatter, all a prospect really wants to know is: What can you do for me today? Therefore, it is important to include only information that is directly relevant to the prospective client in your presentation.

Anticipate Your Audience. Your presentation should fit the audience and the environment. Presenting to an entrepreneur at a local coffee shop is far different from meeting with a CEO and his or her management team in a conference room. Assess your audience so you can make educated decisions about format, for example, a slide show versus a printed presentation versus a conversation, equipment and audiovisual requirements, and even dress code. Presenters should always bring a few more copies of material than they believe they will need, to provide for unanticipated participants.

If the meeting includes multiple people in a conference room, plan on a more businesslike format. However, if you are meeting one person in a home office, you will likely just talk. Regardless, make sure your audience knows what to expect before you arrive.

Rehearse ... a Lot. You have the meeting. You are smart and know your business. You offer a quality service that your competitors do not. You want this client. Remember to rehearse at least once, preferably several times. This is particularly important when you are presenting with a colleague to ensure that you interact proficiently.

While the basic presentation may be universal, you will likely change anecdotes or success stories for different prospects. However, it is important to make sure you are comfortable and conversant with the storyline. You will likely have only one chance to secure the business. Further, it is certain that you will have only one chance to make a first impression. Do not blow it.

Presentation

The presentation is where the rubber meets the road in the business development process.

Own the Room and the Meeting. Always arrive at least 20 minutes early to allow time to check your appearance, set up and test your equipment, and decide where you and your team should sit or stand in the room.

Sometimes, a prospective client may have requested presentations from several firms. If you arrive early, it is surprising how often you will find a competitors materials left on a conference room table. This allows you an opportunity to glance at your competition and to make sure you differentiate yourself.

Once your prospect arrives and you have made all of the appropriate introductions, recheck to determine how long you have to state your case. You have rehearsed and have your presentation down to the minute. However, you always must be prepared to truncate your presentation and adapt to changes in circumstances. It is better to know at the beginning than to have your prospect interrupt you on his or her way out the door to another meeting.