Here are some articles from industry publications that we found interesting. You'll also find interesting articles written by the RCR team, where you can find useful information on building your Revenue, Capability and Reputation.

If you like what you’ve read feel free to add your comments at the end of the article.

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May 18 18

16 easy steps to making you a great managing partner

Capture law firm

Given that RCR consults to law firms, I’m not sure I should be sharing this article by the editor of Legal Business, as the author is is pretty scathing about consultants! However I hope most of our clients would agree that we fall into his acceptable category of ‘specialist advisers working on defined projects with a clear skillset for the matter at hand’.

That aside, there’s some good advice here for managing partners in law firms (and leaders of other businesses, too) large and small. In particular:

  1. The importance of implementation as well as planning: “An OK plan executed well usually trumps the brilliant plan rolled out indifferently”
  2. The need to ‘get outside the citadel’ – in particular to get out and talk to clients, rather than just listening to the internal echo chamber of gripes
  3. Understand your positioning: not just whether you are ‘conservative’ or ‘wannabe’ but how do you want to stand out from the crowd?

 

by Victoria Ash

 

Apr 6 18

Where to start?

 

Front cover 2

A coaching conversation with a client yesterday reminded me of just how many choices there are facing business owners, in terms of marketing and business development.  Our discussion ranged from the need to sustain relationships with existing and past clients, to whether to tackle new sectors or put more energy into the campaign that they began last year and which is now beginning to bear fruit.  Should they use a PR agency to raise their profile?  Should they hire a telemarketer?  Should they run more events? Funds are limited, and their time even more so.   

Sadly for our client, I couldn’t offer any ‘silver bullet’ answers (although finding resource to make those follow-up phone calls is probably the nearest I could come to it). What I could suggest was the need to set some clear priorities, and to tie those to the business’s objectives for the year.  As so often happens, our 9 Box Matrix created a couple of ‘Aha!’ moments and I think the client went away with a clear focus for developing their detailed marketing strategy.

We have a short guide to setting your marketing priorities which you can download here. Half an hour working through the exercises in it will hopefully give you your own ‘Aha’ moment!

by Victoria Ash

Sep 5 17

Tinker, tailor, soldier or spy? Which one are you?

Sooner or later most of the businesses we work with find they need to think about the best way to get marketing done on a day-to-day basis.  There are a number of common pitfalls, which can be classed as the tinker, tailor, soldier, spy syndrome.  Here are some tips on avoiding the traps:

TINKER: In many SMEs, without the resource for an in-house marketing team, it is likely that the managing director takes on responsibility without necessarily having the required skills or time. By tinkering around the edges in this way, marketing and business development are likely to lack direction and consistency. 

TAILOR: To avoid the ‘tinker’ scenario, businesses often outsource to agencies.   The key question to ask is whether they are able to create a tailored strategy for your business to achieve its goals. The tailored plan should help grow revenue and enhance the brand equity, in a way that works with your culture and risk profile.

SOLDIER: Soldiers are the inexperienced members of the team who are given responsibly to handle a job they haven’t done before. If you have available soldiers in your business, this can be cost-effective but only for the short-term. A soldier is an asset to the team, as they fit culturally and know how the organisation works. The risk is that, without the right direction, their inexperience can lead to mistakes.

SPY: While it’s important to keep a close watch on your competitors, the spy risks being distracted by their every move. Experience teaches you when to stay grounded in your own strategy and resist the temptations of imitation and hasty reactions. 

You can read the full article in more detail, about the tinker, tailor, soldier, spy syndrome, and how to avoid it, here.

by Victoria Ash

Aug 25 17

Are you marketing to a minimum viable audience?

If you’re a regular RCR blog reader, you’ll have noticed our occasional reference to Seth Godin blogs. Here is yet again another short post by the marketing guru, “In search of the minimum viable audience”, where he explains why marketing to ‘everyone’ is less effective than marketing to a smaller, more targeted and niche audience to drive revenue in the business.

The marketing plan for your business should reflect the strategy to:

  • Identify what matters to your business
  • Be clear on where your most important weak spots are
  • Pick no more than three to focus on – be realistic about what you can achieve and don’t spread your resources too thinly

If you’ve read our article on a Scout, Blitz, Siege campaign, you will already be familiar with the process or methodology which helps your marketing plan be more effective. Looking at a range of the marketing mix, and aligning them with the objectives of your business, can you be sure your reaching the minimum viable audience with the best marketing plan and campaign strategy?

In this article you can learn more about what marketing you should be doing, it includes:

  • Finding clients
  • Converting new business
  • Delivering to clients

For more marketing intelligence, subscribe to RCR’s blog here.

by Tina Chohan

Aug 18 17

What role does marketing play in your business?

In every business marketing fills different gaps; you may want to use marketing to get new business, to retain customers, to raise brand awareness (or perhaps, all of the aforementioned).

Your turnover and profitability is reflected in the marketing that you do and the way that you do it. There are many factors that need to be considered, to create a clear long-term vision for the success of a business with the support of marketing functions. What are the factors that will help your business increase revenue, and become more attractive to buyers?

Here is an extract from a useful article that will go into detail about what marketing means and what it involves:

“We look at the critical role that marketing plays in enhancing the value of your firm.  Not just by increasing your turnover and profitability, but in a range of ways that make it more attractive to anyone looking to buy into the business.  They will pay more for an organisation that has: a clear position, valuable skills, the ability to develop new markets, and unique Intellectual Property (IP).  Good marketing makes sure you have them.”

Click here to read the full article.

by Tina Chohan