As an eDiscovery services provider, you and your firm work hard to differentiate your abilities. These days, just about everybody can deliver high volume processing and a full suite of tailored solutions across every phase of the EDRM, so it’s hard to stand out from the pack – and harder still to know whether your efforts are paying off.
Day in and day out, you count on your sales organization to lead your business development efforts. They pound the pavement, meet with prospects, and generally do everything they can to bring in new clients and projects. But…
- Are they really able to communicate your value proposition, consistently and accurately?
- Do they have the training they need to talk about your differentiators?
- Can they explain how your firm gets things done?
- Do they know how the technologies really work?
In a nutshell, your sales reps are undoubtedly doing their best, but is that really enough to drive your business?
And what about your big-picture efforts? If your firm is like most, every year you spend as much as you can possibly afford on advertising, sponsorships, trade show swag, dinners, golf games, and who knows what else, all in the hopes of convincing potential clients to give your firm a shot. Since most sponsorships cost at least five grand, it adds up fast. Your reps do their best to make good use of resources and opportunities, but how do you know for sure that all the effort and money really translate into revenue?
Lead attribution is usually pretty tricky, even for teams that do a good job of tracking their pipeline. Your rep might meet an attorney at RelFest, and then run into him at two other shows; meanwhile, you sent out three different promotional emails and invited him to a charity golf match. Which one of those activities was the thing that triggered a sale? Worse, what happens when two different reps both happen to engage with the same guy?
For eDiscovery firms, business development is usually a pretty rocky road. It requires subtlety and creativity; it’s hard to track, a slow and delicate process predicated on relationship building and word of mouth as much as advertising and promotions. The challenges and pitfalls are nearly as unpredictable as the business itself.
What are some of the things you struggle with? What works well, and what makes you crazy? Join the conversation on our LinkedIn or let us know if you would like to be featured in one of our future blogs by emailing firstname.lastname@example.org (Yes, that’s free – as it should be!)