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Latest issue of PSMG Magazine - OUT NOW!
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It has taken a lot of planning to bring you this edition of the magazine. The joint theme - winning clients in a difficult economic climate and strategic business planning - was decided many months ago, possible contributors were identified and then approached, deadlines given, and advertising collated. The magazine has been edited, designed, tweaked, printed and distributed. And whilst this was happening, we have begun to plan November’s edition. Put simply, it would be impossible to deliver this magazine without extensive planning.
Planning is something we all do; we plan our holidays, our weekends, we plan our working days. Businesses also plan - annual budgets, growth or expansion ambitions, a marketing or PR plan. Some businesses spend enormous amounts of time, effort and money developing strategic plans that look five or 10 years into the future. Long term strategic planning is generally not something professional services firms do. There are many reasons for this - the consensus driven nature of partnerships, no accountability to external investors, no fast changing customer buying patterns - and it is difficult to do.
But things are changing. The Legal Services Bill, increasing consolidation and globalisation, and a toughening economic climate are all beginning to drive firms towards developing longer term strategic plans. This edition of the PSMG’s magazine looks at how firms are responding to this and the challenges this will present marketing teams. The Board Talk article written by the magazine’s editor Matt Baldwin kicks off the debate, which is explored further by Laurie Young.
The PACE Partnership start the discussion on winning clients in the current economic client, with Beverly Landias at Baker & McKenzie expanding the theme further looking at the importance of engaging with most important asset - your staff.
The first of our How to Guides is written by Justine Rennie at Brethertons, who outlines her firm’s approach to CRM - an approach that was recognised by The Legal Marketing Awards earlier this year. John de Forte addresses the always difficult and challenging issue of editing tender documents
This edition of the magazine is concluded with articles from Kevin Wheeler on the battle to be top dog, from the former PSMG editor Kate Hinze on the perennial problem of the legal directories, and a case study on Ernst & Young’s annual partners’ conference.
With the summer now effectively over (did it ever begin) the PSMG has announced its autumn events programme (see p4) - these always prove to be extremely popular so do make sure that you book your place early. Finally, I would like to remind you that membership renewal forms are working there way to you all - please do not forget to renew to continue to be part of the vibrant, informative and supportive PSMG community.
Michael Sugg PSMG Executive Director
MAGAZINE CONTENTS:
For PSMG news items, please click here and to view the articles from this months magazine, just click on the titles below.
I love it when a plan comes together - Matt Baldwin, Coast Communications
Business planning appears to be terribly confusing. Pretty much every firm, big or small, will have a business plan of sorts providing some kind of overall direction, and most of us will have prepared a marketing plan for our firm or practice area outlining spend for the next 12 months. Yet is this really strategic business planning? PSMG editor Matt Baldwin finds out by talking to the PSMG Board Members.
Weathering the storm: winning clients in a difficult economic climate - John Monks, The PACE Partners
From the economists and business journalists’ reports of late we also seem bound for a tempest. Some forecast a recession, others say it’ll be a downturn. In light of this current situation, John Monks sets out a nautical themed plan that will tide you through the tough times ahead.
... A cunning plan - Laurie Young
Contrary to popular belief, we all plan constantly. We plan holidays and evenings out. We plan family events and Christmas get-togethers. The trouble is that we all do it in different ways. It is just the same with businesses. Some plan in great detail over a long period of time using carefully crafted processes while others are a little less intense. Laurie Young discusses the importance of proper planning.
Engaging staff through internal communications - Beverly Landais, Baker & McKenzie LLP
Internal communications has a key role in building a firm’s reputation as an ‘employer of choice’. Beverly Landais discusses how, with the strong support of senior management at Baker & McKenize, they put as much effort into their internal communications as they do their external marketing.
HOW TO GUIDE
CRM: planning, perseverance and patience pays-off - Justine Rennie, Brethertons LLP
Marketer Justine Rennie of Brethertons LLP gives an insight into how CRM was approached and implemented in a regional law firm, identifying some of the obstacles that firms may encounter and sharing some of the hands-on experience of delivering CRM.
Reviewing and improving draft tender documents - John de Forte, Proposal Training Ltd and de Forte Associates
Whether you are a specialist bid manager, a member of the wider marketing team or even a fee earner, it is likely that you are required to review draft tender responses and make suggestions on how to improve them. But it’s no easy task. John de Forte outlines his helpful method called the 'seven tests'.
Who's top dog in your market? - Kevin Wheeler, Wheeler Associates
A recent spat between the two largest accountancy firms in the United Kingdom has thrown up the interesting issue of how you decide who’s top dog in a particular professional services market. Kevin Wheeler delves into the Deloitte versus PwC contest and explains how to determine where you stand amongst the competition.
Reuse, Recycle ... 101 uses for a directory submission - Suzanne Caswey, PanLegal Ltd and Kate Hinze
We’ve got some news: directory submissions are extremely useful. In fact, done properly and made easily accessible, they can save you huge amounts of time and effort throughout the year. So don’t just send them off and then try to forget about them … get recycling say Suzanne Cawsey and Kate Hinze.
Audience engagement in action - Toby Lewis, LiveInteractive
In 2007 the partners at Ernst & Young used new conference technology to allow greater and more meaningful communication and feedback at their annual forum. Toby Lewis, Managing Director of LiveInteractive explains how instant and interactive evaluation at an event leads to a more positive and valuable experience for all.
For further information or to obtain your copy please contact admin@psmg.co.uk
Please note that the publication is available free to members and all articles can be accessed in the Knowledge Bank.
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July 2008 |
Executive Director’s Forward
Welcome to the summer’s bumper edition of the PSMG’s magazine. In this issue we tackle head on the thorny issue of marketing communications versus business development. Who rules the roost and why?
Professional services marketing has its roots in marketing communications; public relations, brochures and newsletters, events and sponsorships. It is something most, if not all firms
embrace and for the most part, do it rather well. Partners and fee-earners are comfortable with it, they understand it, it is highly visible, and makes you feel like you are doing something.
But, and here’s the problem, it is difficult, if not damn near impossible, to measure and demonstrate that all important return on investment. ROI gives those responsible for marketing communications a real headache.
Now I know that there will be PR firms, and advertising agencies, and contract publishers, and events teams who will throw-up their arms saying of course we can measure what we do, of course we add value. And there are without doubt ways to measure changes in perception, to gather client feedback on events and, in some cases, point to the odd new enquiry or instruction. And it is right that these are used. But there is still that nagging doubt that marketing communications equals big spend.
In the first of a regular new column, our editor Matt Baldwin interviews PSMG board members seeking their views on the subject of the day. This first article concludes that professional services marketing, like a troublesome teenager, is maturing into something special, that is capable and willing to take a seat at the top table. It is a move away from marketing communications-led
marketing to business development driven marketing.
That said, marketing communications continues to be the creative engine of most professional firms. With budgets being squeezed ever tighter, firms are taking a long, hard look at what they do, and are generally arriving at ever better programmes.
Richard Crook at Drivers Jonas offers his advice on the importance of internal communications, Ralph Jackson at Lansons Communications provides an agency perspective on PR’s role in
today’s professional service firm, and Remedy, who have provided this edition’s terrific front cover, together with Speechley Bircham, explore the way to get the best from your creative agency.
The How to Guides both address publishing client magazines. Contract publisher Grist provides an excellent overview of what to consider when looking at publishing client magazines, with Linklaters providing an equally excellent case study of its corporate clients’ magazine LQ.
We look forward to seeing as many of you as we possible can at the summer drink party in mid-July, and all of us at the PSMG hope you have a very pleasant summer.
Michael Sugg PSMG Executive Director
MAGAZINE CONTENTS:
Click on the titles to view these articles
Troublesome Teenagers - Matt Baldwin, Coast Communications
In the first of a new column Matt Baldwin, editor of the PSMG magazine, speaks with members of the PSMG Board on the apparent shift from marketing communications to business development in professional services marketing.
Internal Communications - Richard Crook, Drivers Jonas
Internal communications can sometimes play second fiddle to a company’s external marketing activity, but in fact it’s the internal communications that form the foundation of values within a workforce. It is your opportunity to project your positioning and brand to your greatest asset and your brand ambassadors – your staff. Richard Crook explains just how important an internal communication strategy can be to all areas of a business.
Here we go again - Laurie Young
If you run businesses through different economic cycles you know when to expect them and how to respond. There is an undulating wave in economic growth which seems to modulate every seven years or so; and the current direction is down. Government policy seems to be able to affect its depths but not its inevitability. Laurie Young talks about doubting Gordon Brown's judgement, haywire capital markets and M & A work being sparse.
Is PR as vital as BD to professional service firms? Discuss - Ralph Jackson, Lansons Communications
Why is it that PR and marcomms is sometimes the Cinderella of the marketing function, and BD always gets to go to the ball? Well, there is no easy, or right, answer. As a PR professional with some 25 years of marketing experience, Ralph Jackson discusses the value of a properly integrated communication function alongside the market-facing business development.
HOW TO GUIDE
LQ - Linklaters' quarterly client magazine - Lucy Murphy, Linklaters
Linklaters’ Lucy Murphy explains why the firm’s corporate practice launched a client magazine that is not about the law and is designed to provide senior executives at large companies with incisive analysis of emerging trends in the global business and financial environments.
How to publish a magazine - Andy Rogerson, Grist
Andy Rogerson of customer publishing agency Grist offers some advice on how to launch and run a successful client magazine.
Brighter outside? - Charlotte Souter, Speechly Bircham, Cathy Howells & Richard Silbermann, Remedy
Charlotte Souter, marketing communications manager at Speechly Bircham, tells Cathy Howells about the benefits of using an external agency. Richard Silbermann, managing director of Remedy, gives his perspective on how his team adds value.
Professional services marketing: a global benchmark study - Graham Seldon, Seldon Gill
Professional services marketers lose sleep at night worrying about how they organise their teams and their firm’s marketing programmes – as well they should. But when it comes down to it, about two thirds don’t think their firms are really putting the hard yards in to properly understand their clients. Graham Seldon of Seldon Gill draws a picture based on soon to be published research benchmarking firms around the globe.
CSR at BLM - Chris Newton, Berrymans Lace Mawer
In 2006, the Berrymans Lace Mawer management team decided to set up a CSR committee to encourage, co-ordinate and facilitate their CSR activities. Chris Newton explains.
For further information or to obtain your copy please contact admin@psmg.co.uk
(Please note that the publication is available free to members and all articles can be accessed in the Knowledge Bank.)
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May 2008 |
Executive Director’s Forward
Corporate Social Responsibility – or what ever name you wish to give it – it very much of the moment. It is a bandwagon that businesses, irrespective of sector, are jumping on and making much of it. No bad thing you may say – and indeed it would be hard and perhaps churlish to argue against such charitable efforts.Professional services firms are on the whole pretty good at the CSR thing – it would be fair to say that almost every firm from the very large to the very small will be doing something, whether helping out in a local school or assisting a local charity on a pro bono basis.
But, and it is a pretty big but, are these efforts focused and, particularly in a hardening economic climate, sustainable?
If not focused on supporting the underlying corporate aims of the business, the question of whether such activity adds value will soon be asked? And whilst CSR is unlikely to disappear when the next bandwagon arrives, it may find life a little harder. As the cover of this edition of our magazine suggests, if CSR is simply a warming lotion added to the surface of your business, it can soon wash off with little evidence of it ever existing.
In this edition of the PSMG magazine we take a look at the big CSR picture – from developing a programme that reflects, supports and enhances business activity, to reporting such activities, and some examples of how firms have developed their own programmes and the support that is available to them.
Nigel Clark at environmental consulting firm Enviros kicks off the debate, with Eversheds’ head of CSR, Steven Butts taking the discussion further and sharing his own experience.
Laurie Young demonstrates that CSR is nothing new – see William Wilberforce’s slavery campaign – and indeed that there is much to be learnt from both older and more recent historical examples.
The SR Group, Kingsley Napley and PR consultant Maggie Taylor share their experiences of CSR in practice and the lessons they have all learnt. Branding consultants Radley Yeldar share its thoughts on good CSR reporting and ask why are so many professional services firm getting this wrong?
CSR is a hot topic and it is one the PSMG will be exploring further with a panel seminar planned for 4th June 2008, providing practical tips on how to develop a relevant and easily communicable CSR programme.
Michael Sugg PSMG Executive Director
MAGAZINE CONTENTS:
Click on the titles to view these articles
Beyond CSR - Nigel Clark, Enviros Consulting
Corporate Social Responsibility, or CSR for short, is a business concept now well understood and adopted by most big businesses. Professional services firms certainly have embraced CSR in recent years and some of its best proponents exist amongst the major legal, accountancy and property practices.
The Good Citizen - it's just good business - Steven Butts, Eversheds
One of the difficulties in writing any article is working out your opening line - the one that tells the reader that you know your stuff, that you’re not going to bore them, and that you’ve got something to say that’s worth taking the time to read….. and that the sentence wont be too long. There’s a quiet revolution taking place in commercial law firms.
CSR and the service concept - Laurie Young
In his regular column, Laurie Young uses his marketing and sales of professional service experience and explains how companies have lost their way over the years and how CSR can enhance their business reputation.
HOW TO GUIDE
Strengthening a global accounting brand - Jon Geldart, Grant Thornton
Ensuring a brand is used consistently across so many countries is no small task. Grant Thornton International is today the fastest growing of the six largest global accounting firms. Its bold global business strategy was established back in 2006 and anticipates doubling the combined market share of its member firms within five years. Jon Geldart, global director of marketing communications at Grant Thornton discusses how the new International logo was conceived.
The SR Group goes head to head with Tower Hamlets children - Rebecca Ellis, Carter Murray & Fiona Rawes, Heart of the City
The SR Group is an international recruitment firm. Over the past few years and as the firm has grown, there was recognition that a formal CSR programme needed to be developed and it was decided to start in the London office. A partnership with the CSR consultancy, Heart of the City, was developed and this account from both sides of the process was put together.
CSR - the three letter marketing miracle - Maggie Taylor, Prima PR & Marketing
CSR. A topic that has been scaling the professional services agenda over recent years and is such a buzz word, that is has now been named 'the three letter marketing miracle'. While the government wants business to deliver economic growth without creating environmental decline or social injustice, the benefits of CSR for the business make just as much business sense as it does environemental sense.
Who are you trying to reach? - Tom Rotherham, Radley Yeldar
Focus on corporate responsibility communication, not just reporting. The word on the street is that professional services firms are behind the curve on corporate responsibility (CR). Is this true, and does it matter?
Outside the system - Alison Burdick, Kingsley Napley
Kingsley Napley decided to implement a formal corporate responsibility (CR) policy, part of which included charitable donations. They wanted to focus attention on a handful of charities where their contribution (financial or otherwise) would make a significant difference. Alison Burdick diaries just how Corporate Responsibility played a role in Kingsley Napley's support for Sri Lanka tsunami victims.
For further information or to obtain your copy please contact admin@psmg.co.uk
(Please note that the publication is available free to members and all articles can be accessed in the Knowledge Bank.)
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January 2008 |
Executive Director’s Forward
British Telecom once said ‘It’s good to talk’ – something that marketers in all industries would wholeheartedly endorse. For decades professional services marketers have said that buyers of
professional services buy people – their expertise (obviously) and that so-called, and often allusive, personal chemistry. So you would have thought we would be good at talking.
Take a look at most marketing activity and it would appear that we are pretty good at talking, but there is scant evidence that we are any good at listening. And a one-sided conversation is not a particularly enjoyable experience.
So why do we find it so hard to listen – surely it is easier to sit quietly and listen to what clients like, don’t like and what troubles them. It is something that we seem to struggle with, yet when undertaken in a planned and systematic way the results and insights it can deliver are invaluable.
In this, the first issue of 2008, we listen and talk with some marketing professionals who have really embraced ‘client listening’. There is a lot we can all learn.
Suzy Goodwin opens the debate sharing her experiences at Grant Thornton. CODA Architects add to the discussion with an article that outlines their own approach to client listening. And South East law firm Brachers offer some practical advice in its How to Guide to an advertising campaign built around talking and listening.
Laurie Young in his regular slot argues that a firm will find itself having to pitch for more work as a result of not listening to its clients. The pitching theme is developed further by John Timperley, who will headline one of the workshops at the PSMG annual conference in March. Our second How to Guide adds a further dimension to pitching as Boodle Hatfield share its experiences working with external pitch consultants.
2008 is promising to be an exciting year for the PSMG and its members. Look out for a number of new research projects providing you with valuable data, further education and training and don’t forget the must attend event of the year - the PSMG annual conference, to be held on 3 March. Places are limited so please do remember to book early. Look out for the new micro site and email invitation by our new partner concep.
And finally I would like to wish all our members and readers a happy and prosperous New Year.
MAGAZINE CONTENTS:
Click on the titles to view these articles
How well do you really know your clients? Client listening - we should all do more - Suzy Goodwin, Grant Thornton
As marketing professionals, we all know that marketing is about finding out what our clients want or need and them creating the most effectve and ideally differentiated and profitable way to meet those needs. So why is it then that so few professional services firms truly get to grips with genuinely enabling these dialogues to take place? Here we find out how Grant Thornton have tackled this subject and succeeded with raving reviews.
How to win the lottery more often ... - John Timperley, The Results Consultancy Ltd
Knowing how to tender competitively is vital in gaining considerable ground over those who don't. Stressing the need for "people they can do business with" and creating a chemistry compatible team, are all parts that add up in the winning tender equation. In this article, John Timperley outlines the need for a focused strategy to give direction to the whole proposal process and some ways to improve your chances.
Off the pitch - Laurie Young
Some clients do not have a clear idea of the service they want or need. They may be aware of the problem and need help to clarify the issue. This is where Lauire Young explains how suppliers who create dialogue and advise on policy formulation earn trust and avoid the need to pitch on much of their work. Laurie discusses the impact of recent changes in international markets and having more than just a 'pretty PowerPoint presentation' and clever responses.
Whatever happened to face-to-face? - Bernard Savage, Size 10 1/2 Boots & David Cross, Coda Studios
Escaping from new technology is not an option. Embracing the virtual world of emails, texts and blogs as another communication medium is great, but face-to-face conversation can never be beaten. In this article, Bernard and David discuss that while new technology has its place, the challenge of creating a relationship with people you can't see most often leads to a face-to-face meeting.
HOW TO GUIDE
Hitting perfect pitch - Michael Farrell, DeWinton Williams & Stella Smith, Boodle Hatfield
In an increasingly competitive marketplace with increasingly sophisticated clients, lawyers are having to get out there and pitch for business. Whether it is for a place on a panel or for a key project, clients are comparing and contrasting in order to get the best package for their money. This article addresses what pitch teams need to do to get it right and win business.
Talk, Listen, Listen, Talk - a fresh approach for Brachers - Angela Witcher, Brachers Solicitors & Meg Huckstep, Pillory Barn
Like many regional firms with more than 100 years of practice history, Brachers’ foundations are well cemented in the traditional private client practice areas with a fairly inevitable ‘old-school’ client base. Joining Brachers in 2007, Angela Witcher noticed the firm benefited from a healthy intake of young talent, coupled with a great working atmosphere and so the 'Talk, Listen, Listen, Talk campaign was designed to set the Brachers brand apart from the competition.
Alliance marketing down under - Martin Ashton, DLA Phillips Fox
An Australian firm's international business strategy came to fruition after a five-year relationship between two firms. They are now in collaboration on client opportunities with a focus on Australia and New Zealand and parts of the Asia Pacific region. Read more to see how this alliance came together and delivered real results.
Brave new world - Charlotte Bowditch, Field Fisher Waterhouse LLP
Having a leading media and technology practice with a strong new media capability has enabled Field Fisher Waterhouse to be at the cutting edge of online commerce and digital technology. Field Fisher Waterhouse's presence in Second Life can be used as an important commerical distribution and communciation channel. Read more to find out how!
Chiltern's offshore amnesty campaign - Richard Gerrard, Chiltern PLC
When the UK tax authorities announced their groundbreaking ‘amnesty’ for holders of offshore bank accounts on 17 April, the business development and marketing team at Chiltern – the specialist tax advisers who recently joined BDO Stoy Hayward LLP – sprung into action with a targeted campaign to seize market leadership.
For further information or to obtain your copy please contact marketing@psmg.co.uk
(Please note that the publication is available free to members and all articles can be accessed in the Knowledge Bank).
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November 2007 |
Executive Director’s Forward
Graduate recruitment is a pursuit that demands enormous amounts of time, effort and money – and rightly so. Professional services is, to use that hackneyed phrase, a people business, and without a steady influx of bright, talented individuals firms will face a difficult future.
It is also one area where HR and marketing teams tend to work much closer together – and indeed where some firms have teams of marketing professionals who sit within HR dedicated to graduate and fee-earner recruitment.
It is an area where a firm’s brand is stretched to its limits, as firms compete fiercely against each other to attract the best of the best. It is quite simply a buyer’s market – with graduates easily forgiven for feeling that they are more akin to royalty than a small cog in a big wheel.
In this issue of the PSMG magazine we are delighted that KPMG and Linklaters – firms that both score well in The Times Top 100 Graduate Employers survey – share their thoughts and approach to graduate recruitment. These firms are among the best and their articles make for an interesting read.
For all of those involved in the marketing of property firms or practices our How To Guides will be indispensable. MIPIM is the biggest property show on earth and for many, simply unmissable. But how do you make yourself stand out from the crowd without breaking the bank? King Sturge and Drivers Jonas reveal all.
For law firms, November sees the enormous shadow that is the legal directory submissions. The Legal 500 and Chambers demand enormous resource, but are still seen as a cornerstone of the marketing calendar. Kate Hinze and Suzanne Cawsey know the directories inside out and offer advice on how to make the process easier.
We are also very excited to be able to reveal a new look to the PSMG magazine. Our editor, Matt Baldwin, and his design team at Coast Communications have worked extremely hard to deliver a magazine of which we can all be proud. As always we welcome any comments and feedback you may have.
And finally, it is that time of year to renew memberships. There are terrifi c rates for individual, corporate and overseas membership – but please act early to get the best deals.
Michael Sugg PSMG Executive Director
MAGAZINE CONTENTS:
Click on the titles to view these articles
High Tech, high touch - Alison Heron, KPMG
The graduate recruitment market place has been getting more and more competitive in recent years, particularly amongst the Big Four accountancy firms. Each firm is increasing their number of vacancies, but the number of graduating students who are interested in joining a professional services firm is not growing at the same speed. For firms to attract the right calibre of students to join them without compromising on their entry requirements requires a great deal of creative thinking.
Why honesty is the best policy - Claire Cherrington, Linklaters
Back in 2004, Linklaters, with Work Communications developed a campaign based around sharing information with thier target audiences. The shift to open, honest communication is relfected in its messaging platform - 'What do you need to know?' This positioning has been developed specifically for our campus strategy, but it is built squarely on the core brand identity and values of Linklaters. Clare lets us know more about the project ...
An amateurish service? - Laurie Young
Creating an effective marketing function is not just about the right boxes on organisation charts, recruiting talented individuals or having useable systems. There are grubby, real-world, issues which affect the ability of marketing and BD teams to perform well. Laurie Young explains.
HOW TO GUIDE
MIPIM - Should I stay or should I go? - Richard Crook, Drivers Jonas
MIPIM is the world's premier real estate summit, drawing upon its unique international coverage and reputation to bring together the most influential decision makers in the market and a showcase for some of the largest development projects. Richard Crook lets us know about the new approach that Drivas Jonas took.
MIPIM - how to get more bang for your bucks! - Allyson Andrews, King Sturge LLP
King Sturge, one of the largest independent property consultancies in Europe, is well known for throwing some of the best parties in the industry. Here Allyson Andrews gives us an insight into how they take on the challenge of MIPIM.
Building a marketing and business development team - Gillian Sutherland, Davis Langdon
Let’s imagine you have just started in a senior marketing and business development (BD) role at a professional services firm and there is a requirement to re-evaluate and build the marketing and BD team. How can you spot the needs of the firm and build the right foundations for a successful and happy team?
Discovering new worlds - Dean Russell, Precedent Communications
In the early days of the web, a successful online marketing strategy consisted of launching a website and listing it on a single search engine. Email marketing was a nice-to-have, and online advertising was considered too expensive unless there was a product to sell. But times have changed as social media sites like Facebook, YouTube, Second Life and blogs have caused many organisations to re-assess if their marketing strategies really work in an increasingly sceptical digital environment.
Directory enquiries - Suzanne Cawsey, PanLegal Ltd & Kate Hinze, Consultant
November. Frosty mornings, falling leaves and marketers up and down the land are staring down the barrel of another year’s directory submissions. We all know that they’re a chore. We all know that there are a million other things that need to be done and yet the firm still focuses valuable resources (i.e. YOU) on them. So here are some tips on how to handle the process.
For further information or to obtain your copy please contact marketing@psmg.co.uk
(Please note that the publication is available free to members and all articles can be accessed in the Knowledge Bank).
