Fall 2006 issue of Horizons

INDUSTRY LAW FIRMS Selling Value • Attracting New Clients

Don Esstman, CPA

remain true to yourself and understand that you are selling yourself as much as you are selling your services.

Law firms must continually attract new clients in order to grow the firm. The most successful manner to attract prospective clients is by providing clear statements that pres- ent your firm's unique approaches and abilities. Prospects respond to practical messages regarding the value your firm can provide. First Contact The first key to demonstrating value to prospective clients is to verify that your prospect's needs match the services your firm can provide. You must accept that not all prospects are well matched to your firm's abilities. By only entering into relationships with clients that are well suited to your firm's services, you can establish trust and meet the new client's expectations. Along with showing your specialization, it is important to make the prospect feel as little pressure as possible. Phrases stated as a question (such as “Does it seem clear that…?”) prevent prospects from having to interject questions or com- ments. The keys to accomplishing low-pressure sales are to

Written Proposals When responding to requests for proposals (RFPs), it is important to remain clear, concise, and focused on the value you can provide. The first key to a successful proposal is that it must directly respond to the RFP, meeting all of the stated requirements and evaluation criteria. Further, it should follow the organization required by the RFP. Prospects view firms that fail to meet these basic requirements as not understand- ing their needs and not paying attention to detail. The second key to a successful proposal is to provide detailed explanations on how your firm can provide more value than other firms in the market. You must describe exactly how your firm will solve the prospect's specific prob- lems and the benefits to your approach. The proposal should show that your firm is technically competent to execute your suggested solution, draw a clear distinction between alterna- tive solutions that competitors may offer, and describe why your approach is superior.

43 • summer 2006 issue