Ask the authorities--April 2009.
In my firm, management is in a reactive mode, following other firms by cutting budgets, skipping bonuses and deferring and canceling initiatives. How can we convince them to be creative and that we can economically grow revenues through this period?
Steve Barrett
Explain that not trying to grow only ensures shrinkage.
Given that 80 percent of revenues are derived from the top 10 percent of clients, here are a few ideas:
* Develop new service initiatives. Brainstorm them with those critical clients;
* Rather than responding within 24 hours, respond within two hours, especially for your top 10 percenters;
* Extend your antennae to push industry trend information to clients before they realize a threat may be materializing.
Ideas and initiative will always beat cutbacks, timidity and retrenchment. Growth is possible in a downturn.
Active in law firm strategy and marketing since 1984, Steve Barrett has been CMO at four major U.S. law firms. He analyzes law firm data and recommends high ROI clientdevelopment strategies.
Mark T. Greene
Im not sure that you can reasonably argue that you can grow...
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