It should be obvious that “Make More Rain” is a favorite theme of ours. The phrase is the title for this blog site; and we’ve used it on collateral pieces and presentations, during events and in other ways. The encouragement is sincere. Much of what we do at LexisNexis is focused on helping customers be more successful, and rainmaking is one notable measure of success.
Recently, we had an opportunity to ask legal professionals to offer their own rainmaking ideas on a simple, fill-in-the-blank form. We received a bunch of quick suggestions worth sharing, but wanted to lead off with one submission that was detailed and different enough to stand out from the rest. Coming from an individual at an Am Law 200 firm, it’s a good example of the creative thinking some people apply when they want to make more rain.
Our theme for the year is creating value through differentiation, so we use that lens to decide which strategic activities would most benefit our clients, while also allowing us to showcase the unique strengths of the group.
It can be an illuminating exercise to have your practice groups list specific characteristics that distinguish them from other firms in the marketplace. When everyone shares just one or two examples of a particular behavior or the group’s collective experience that have proved meaningful to a client, you can generate a solid list of your strengths … as viewed from the client’s perspective.
Perhaps your attorneys excel at publishing articles and demonstrate thought leadership in a particular area of law. Maybe you are known for delivering the best annual employment law client conference in your state. You might have completed more transactions of a certain size or in a certain industry than any other firm in the area.
Once you have identified your core strengths, you have the building blocks to craft a compelling story to share in the marketplace. In addition to leveraging the usual MarCom tools to tell your story, be sure the attorneys themselves are well-versed in articulating the accomplishments and capabilities of their team. You can even set up simulation exercises to help individuals or teams hone their story-telling skills in a variety of situations, from formal RFP presentations to casual business networking events.
Looking for additional Business Development ideas? We’ll post the other “make more rain” suggestions in the next day or so.