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PM Forum - Bristol
Can Managing Partners’ and Marketing/BD Director ever agree on how to measure marketing ROI?
The heads of three heavyweights in the professional services market and the CEO of the largest chambers in the South West, formed the panel for an interesting debate attended by members in Bristol recently, on measuring marketing ROI, particularly in the face of economic instability.
Stephen Rosser, CEO of Clarke Willmott LLP, Ruth Foreman, Office Managing Partner, Bristol & Bath of Baker Tilly and David Pester, Managing Partner of TLT LLP dealt with a number of provocative questions on effective collaboration with their BD teams, while Hamish Munro, CEO of Guildhall Chambers chaired with usual thought-provoking flair and informative research theories.
The panel were asked should there ever be a disagreement between managing partners and their marketing teams? For successful collaboration not only between the two parties, but for dissemination to the whole firm, all members of the panel agreed that the marketing/bd function should be embedded into the senior management team and newcomers to the firms should be “BD savvy” and understand the importance of its effect on the business.
Mindful of the fact that 56 per cent of in-house counsel is currently open to the possibility of changing their legal advisers, David Pester is spending more time with his colleagues inside and outside the firm. A programme of meetings with the firms “Top 30, ” has led TLT to take a long, close look at their business strategy. David explained, “This is not necessarily to change what we are doing but how we are doing it.” By working closely with the BD team, client feedback is used across the firm to remind people of their successes and also advise them of issues that could affect their client relationships.
Stephen Rosser was the newest member of the panel to come to his leadership role, having been elected CEO only four months previously. Stephen has spent his first months in the new job evaluating where the firm currently sits and where it wants to be and believes that integration between BD and partners is key to future progress. “We need to maintain and build on key relationships in quiet times and keep contacts alive and strong so we’re there when the opportunities arise.”
Ruth Foreman highlighted the need to hire people with the right approach to CRM and advised on the need for clarity and transparency in all BD activity to gain support and collaboration amongst colleagues. “Celebrate the successes but address any problems early so they can be dealt with.”
In the current uncertain times, Baker Tilly are not out to break new ground. “Don’t be afraid to stick to what you do best and be known for it,” said Ruth.
All panel members agreed on the need for using limited resources effectively and constant monitoring of your BD and marketing activity. With a current failure rate of eighty to ninety percent on PQQ’s for tenders with no existing relationship with the target, to “have a punt,” is fast becoming a distant memory. Something that marketing and BD teams will surely not be sorry to hear.
A well attended, informative and entertaining event attended by a cross section of managing partners and marketing/BD teams from the region.
Alison Woodhead
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