Taking part in beauty parades can terrify some lawyers, so what do you need to do to make sure you impress?
Picture the scene. You´re travelling in a taxi to a meeting in which you will sell your firm´s services to the client you´ve always wanted. Get this pitch right and your reputation as a rainmaker will hit new heights – you can look forward to a hearty slap on the back from your firm´s managing partner, and perhaps more importantly, a healthy bonus at the end of this financial year. So, in a beauty parade, what must you do to convince your dream client that your firm is the best one to cater for their legal needs?
The results of a new Iberian Lawyer survey provide an insight into what goes through the minds of in-house counsel when they are selecting their external legal advisers. More than 100 general counsel at leading companies in Spain and Portugal took part in the research, which revealed that simply having good technical skills is not enough for a lawyer when it comes to impressing clients.
When clients review their legal panels, it is no surprise that lawyers get nervous because millions of euros can be at stake. As one market source says: "A colleague of mine is a top litigator, a star in the court, but a beauty parade makes him so nervous he is sick." Meanwhile, a law firm marketing director comments that it can be hard to get lawyers to "focus and prepare" for a beauty parade. The director adds: "I am never sure if that is simply due to a lack of time or denial." However, perhaps lawyers are too worried about the thought of selling the firm during a beauty parade. As one client says: "This is not about sales – law firms don´t like to sell and we don´t like to be sold to, it´s more about displaying and developing a relationship of trust."
Participants in the survey were asked to explain what the most common reasons were for external law firms failing to convince them to use their services. The most frequently cited reason (which was mentioned by 67 per cent of respondents) was that the firm "did not show that they would respond quickly to our needs". The second most common reason (mentioned by 63 per cent) was that the firm´s fees "were too high". Meanwhile, 61 per cent of respondents said firms failed to convince because they did not "demonstrate an understanding of our business". Other reasons for law firms failing in pitches included: not showing an understanding of the industry sector in which the client operates (48 per cent); the representative from the firm having "poor presentation skills" (23 per cent); and the firm having insufficient evidence or data to back up their claims (22 per cent).
It also pays to talk less about yourself and more about clients during pitches. A total of 28 per cent of respondents said they were often deterred from using law firms if the pitch was "more about their firm than my needs". Meanwhile, four per cent said they were disinclined to use law firms that did not "identify any potential opportunities for my organisation". Respondents highlighted a series of other mistakes law firms frequently make in their interactions with clients. One highlighted the "lack of a commercial approach", while another referred to the problem of advice that is "not pragmatic and fails to take into account the ´big picture´ strategic considerations". Other bad impressions given by law firms during pitches included "not being solution-oriented" and not "transmitting confidence in general or in relation to the specific issue".
Participants in the survey were also asked which factors influenced their choice of law firm. Again, speed of response, industry sector knowledge, and fees figured prominently, but there were a number of other different factors that were frequently mentioned. A total of 59 per cent said they wanted external firms to have a "detailed" understanding of their business, while 57 per cent said they looked favourably on firms that inspired confidence when "I talk to them about the issue in question".
Cuatrecasas, Gonçalves Pereira's marketing and business development director, Laura Canudas, says her firm runs business development sessions for its lawyers that aim to emphasise the importance of "understanding clients´ needs". She adds that the sessions also focus on "the relevance of listening" to clients. Cuatrecasas uses a "panel of clients" that talks to the firm´s junior lawyers about the needs of general counsel. "The panel talks about what their day-to-day needs are, how they are organised and what their priorities are – this provides a wider perspective on the client and provides an understanding of what is of value to clients."
A spokeswoman for Gómez-Acebo & Pombo says training lawyers in ´soft skills´ – such as selling, networking, public speaking, efficient communications and presentations, and negotiation – enables lawyers to "consolidate their position and advance their career". She adds: "It is important to detect training needs linked to performance appraisals in order to assist our lawyers in furthering their professional development."
Chris Scoble, consultant at Esprima, which provides leading law firms with training in client development skills, says that when pitching to clients, it is important that lawyers "put themselves in the clients´ shoes and show they understand what the client needs". He adds: "It´s important to identify the clients´ needs, confirm them and then show how you can help the client meet those needs." In addition, it is also vital that lawyers only talk about the parts of their firm that are relevant to the client. "Never give a presentation about your whole firm," Scoble says. "Just tell the client about the bits of your firm that match the clients´ requirements." He also advises law firms to match the presenters to the people they are presenting too – for example, if the client representatives are younger people, don´t send the most senior member of the firm to present to them. It´s also important that everyone who visits a client to pitch the firm´s services has a role in the presentation or discussion. However, Scoble adds: "A great presentation is a well-structured conversation that will get the client representatives interacting."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
