Practice Development Activities

More notes from Managing the Professional Service Firm

  • He identifies 3 vital categories of practice development (i.e. marketing) activities and what percentage of time to spend on each:
    • Broadcasting (writing papers) – 10%
    • Courting (forming a client relationship) – 25-40%
    • Superpleasing (Going beyond satisfaction to delight) – 10-15%
    • Nurturing (Spending extra, non-billable time to understand client needs) 30-35%
    • Listening (…to the market, to develop services) – 10-15%
  • ROI – via word-of-mouth – and Broadcasting the lowest ROI.
  • Identifies a few ways of listening:
    • User groups (review future development ideas with a group of clients)
    • Reverse seminars (have client come in to talk to us)
    • Attending client industry meetings (with the client)
    • Market research
    • Senior partner visits
    • Engagement team debriefings
    • Systematic client feedback (e.g. survey)