Archive for positioning
Law Firm Marketing – Seven Steps for Using LinkedIn.com as a Business Development Magnet
Posted by: | CommentsOriginally published in the inaugural Edition of The Rainmaker Advisor – for attorneys
Let’s face it – you’re busy. You may even fall under the classification of “very busy”. When it comes to developing business, you are faced with all kinds of options: a website, blogging, networking, referrals from current clients. The question is often where do I start? And how do I manage the ethical considerations? Especially because I’m so busy.
My advice – start with what you’ve already got. Then leverage it.
Enter LinkedIn.com, a free online social networking site for professionals.
Unlike Facebook.com or Myspace.com, LinkedIn® focuses on a business demographic1:
- Average Age – 41;
- Average Years of Experience – 15;
- Average Household Income – $109,000;
- 46% of it’s users are Decision Makers;
- Executive from All Fortune 500 companies are represented inside LinkedIn®.
These are folks who use legal services.
I train my clients to view LinkedIn® as a technological backbone to place underneath their already existing network of relationships. With 21 million people using the service, you may be surprised to find that many of the people that you know professionally are already users.
Add three levels of depth (seeing who your contacts know, and who their contacts know) and a search engine to explore those resources, and you have an extremely valuable resource to leverage.
By having a systematic approach, you can use this free service to become a magnet for referrals, business opportunities, and profitable alliances.
Here are the Seven Steps for Using LinkedIn® as a Business Development Magnet:
1. Perfect your Profile
Your LinkedIn® Profile is an online hub for Business Development Objectives. A well designed profile lets your contacts, prospective clients, and prospective referral sources know who you are, what you do, and what you are looking to accomplish. Make sure that you spend plenty of time perfecting it. Fill out all of your education. Fill out your past employment and experience. People feel like they know you when you disclose those things. Because LinkedIn is a Social Media, you want to bring down the barriers that people experience to getting to know you and your firm. This step is critical.
2. Learn the system
The power of LinkedIn® is the platform. The social software allows you to do advanced searches, connect to your current websites and blogs, promote your profile to current connections and people who could be connections, answer questions of users who are looking for someone like you and your firm, etc. Understanding the capabilities of LinkedIn® will allow you to leverage them once you’ve built out your network in their system.
3. Reach out to people you already know and build your network
You’ve spent a lifetime making connections. You already belong to multiple networks: your firm, your law school, your alma mater, your professional organizations, your place of worship, the PTA. All of these people know people. They all have connections that have potential value to you. And you have connections that have potential value to them. By reaching out to your already existing contacts, you will quickly reproduce your existing networks and be ready to use the technology to explore the opportunities that already exist in your first level connections, as well as your second and third level connections. You will never know if you don’t build it.
4. Get strategic
Know exactly what you want to accomplish. Write out your Business Development Objectives clearly and concisely such that anyone who read them could tell if you reached them or not. Are they specific? Are they measurable? Once you are clear, consider that you have an enormous network of resources available to you via your LinkedIn® network. Now answer the following questions:
- · How are you positioned with the people in your network?
- · Do they really know what you and your firm offer? If not, why not?
- · How could you communicate that to them?
- · Does your firm have a newsletter? Put a link in your profile so people can subscribe.
- · Do you blog? Via your profile you can direct people to your blog so they can read more about you.
- · Who refers you on a regular basis and why?
- · Do you have enough of these people in your network?
- · Do the people you know have contacts that could be referring you?
- · Do you know the characteristics of the people who refer you?
Once you have the answers, look newly at the network you’ve built. You will see opportunities that you didn’t see before. They were always there. Now leverage them.
5. Use the system to manage relationships
The advanced features contained in the toolbars that LinkedIn® offers give you powerful tools to manage your interactions with the people in your network. Download them and learn to use them. You can keep track of birthdays and overlooked emails. You can get updates from the people in your network as their profile information changes. You can keep track of your searches. Via a scan of your regular emails, you can find new people to connect with and continue to build and cultivate your network.
6. Reach out to meet new people through your contacts
Once you’ve built out your network and cultivated deeper relationships with the people you already know, begin to browse their networks. Look to see if they know people that will help you achieve your Business Development Objectives. You can even do deep, specific searches to find experts, vendors, specific people, and specific companies. Using the built in features of LinkedIn®, reach out to those people through the people that you already know. Use some of that Social Capital that you’ve built up with people. You’ll be surprised how willing they are to help you achieve your goals.
7. Be Consistent
The key to any Business Development strategy is consistency. Schedule 10 minutes a day for the next 90 days to work inside the LinkedIn® system. Not only will you find it enjoyable discovering new sources of business, but you will also build a habit that will transfer into your day-to-day habits and translate into a profitable world of new opportunities.
Social Networking is not a new thing. Professionals have been doing it from the dawn of commerce. Social Networking Software like LinkedIn, however, provides an opportunity to take those networks you’ve built over a lifetime and put them to use.
By developing a systematic approach to developing your network, and a technological backbone to uncover the hidden connections contained in that network, you have the opportunity to set yourself apart from other firms, and produce the kinds of result that Senior Partners in the big firms produce on a regular basis.
In our next article, we’ll address privacy concerns, ethical concerns, and demonstrate how LinkedIn®’s system is built to handle this.
Meanwhile, enjoy building what will likely be one of the best Business Development
tools you will ever encounter.
Raymond Chip Lambert, of Network2Networth, is a Business Development expert who works exclusively with seasoned professionals to leverage their existing relationships through time tested Business Development strategies and online Social Media strategy thereby unlocking the value of their existing network connections. He can be reached at 602-635-4541 or www.network2networth.com.
1Linkedin.com-http://www.linkedin.com/static?key=advertising_info&trk=hb_ft_ads
Linked In for Realtors – Just found an interview I did with David Crumby on Google
Posted by: | CommentsThought you might have an interest in listening to an interview I did with David Crumby of Assist2Sell that he posted for his franchise network.
I found it with my Google Reader search for my own name (something you may want to consider as people are more and more writing online).
Here’s a link to the post "LinkedIn Expert Audio Interview" on the Assist2Sell Today blog.
Or you can click here to listen to it.
I’m beginning to really use LinkedIn as a way to get the idea that a network is a powerful thing and that it takes strategy to work a network.
I’m of the opinion that most people work networks from a tactical perspective, and I hope that this interview, which was originally designed as a conversation for LinkedIn for Realtors, sheds some light on that.
Let me know what you think.
Raymond Chip Lambert
Network 2 Networth
Your Outsourced Business Development Training Partner
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Beyond Small Time Clever – an update
Posted by: | CommentsThe last few weeks have been nothing short of amazing.
As I’ve begun to drill down and clearly identify and articulate what I do for attorneys, CPAs, and financial planners, a literal avalanche of opportunities has presented itself.
Our positioning statement is: We help established small- to medium-sized professional firms leverage their book of business by shifting their relationship to that book from one of transaction-focus to one of strategic asset development.
I will be speaking about the power of LinkedIn® to facilitate that process at the Small and Solo Law Conference in Los Angeles this week put on by the Rainmaker Institute, LegalTech, and the Los Angeles County Bar Association. It began with a clear articulation of what I was trying to accomplish and a conversation with Stephen Fairly. I’ve written for the Magazine that is being launch at the conference (and I’ve been asked to potentially write a series) and there are some more exciting things in the works given the relationships I am building. I will continue to update you as things roll out.
Suffice it to say – if you have an attorney in your network, invite them to subscribe to this blog. We’ll have lots of resources for them in the not too distant future.
I’ve also begun in earnest to address the CPA market.
What I’ve found is that many small to medium firms have no marketing plan whatsoever. They grow primarily by organic referral. Our Business Development Intensive is perfect for this market because we work with these firms to tap into their already existing client base to determine their markets, find and work their leverage points, and design a systematic approach to firm growth.
One firm I worked with grew by 25% in 6 months. And this was a well established, highly regarded firm here locally (Phoenix Market).
We are also now offering, in partnership with a marketing firm that has served over 6000 professional services companies, a comprehensive 2-day marketing audit that leaves the firm with a roadmap of exactly what additional marketing steps to take to achieve the results they are looking to accomplish.
I’m looking for suggestions to position this new offering into the market (via word-of-mouth – We’ll be using some of the marketing strategies we espouse in other media) so if you have any, or know someone I should be speak to please let me know.
I also recently spoke at the Women in Insurance and Financial Services Phoenix Chapter launch on June 10th. If you are a woman who works in financial services or insurance, I would recommend that you contact Tisha Diffie, the president, and get to their next meeting in August.
I found as I was speaking, many of the women in the room understand that the strategies that had them reach a certain level of success now leads to a plateau in production. As I spoke about leveraging their networks and using LinkedIn® to help facilitate the process, the lightbulbs began to go off. I expect that many of those in attendance will be going back to their book of business with a different set of eyes and I’ll be looking forward to hearing from some of them as they apply what I spoke about.
Again – if you know a successful producer who has plateaued, please introduce me. I can help them.
As always, I welcome your feedback and input.
The journey from Small Time Clever Continues.
Raymond Chip Lambert
Network2Networth
Your Outsourced Business Development Training Partner
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Using LinkedIn to Make Money – Our LinkedIn 301 Webinar is Released
Posted by: | CommentsWe just released our LinkedIn 301 Webinar – Business Development on LinkedIn – Using LinkedIn to Make More Money.
If you haven’t done one of the webinars, I suggest you start with the 101 and work your way up – we don’t cover any info in 201 that’s covered in 101 and the same applies for the 301. If you don’t have the fundamentals down, the 301 won’t make sense.
In a nutshell, we apply some of the foundation pieces that I train in the Business Development Intensive to the LinkedIn system and that seems to unlock the true value of the tool.
I’ve got clients that are applying what they learned and beginning to see some impressive results. If you want to hear more, give me a call 602-635-4541.
I’d include the text here, but I’d rather have you click the link if you are interested.
I trust that you will have a profitable day
Raymond Chip Lambert
Network 2 Networth
Your Outsourced Business Development Training Partner
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Getting to your Perfect Client via your Networks
Posted by: | CommentsI am constantly amazed at the resources that are available for those of us who work in the area of Business Development. In the last few weeks I’ve used the following resources to narrow down potential clients and potential target markets given my ‘Perfect Client Profile’. If you are taking or have taken one of our Business Development Intensives, you may find these resources invaluable.
ReferenceUSA – This database is available at your public library. If you are not a member, go to www.scottsdalelibrary.org and sign up for a card. It will allow you access to their databases.
Reference USA is an InfoUSA company. You can drill down on local businesses by multiple criteria (which we talk about in our classes) and pull up a list of companies and contact info for those companies. It’s a great way to begin to narrow your search for your perfect client.
LinkedIn – Now that you know what companies to target, you can go to your LinkedIn network and see who you know or who knows someone who you need to meet. It is likely that there is a pathway into these companies that will get you introduced to the right person THROUGH someone you know. Can you cold call? Sure. If you have trouble cold calling, check out my friend Connie Kadansky from Exceptional Sales Performance. Her programs get you out of the headgame you play with yourself. I highly recommend her. However, if you prefer to be introduced, LinkedIn provides a fantastic resorce to do that.
Furthermore, you can begin to do some research when you find the right people. The old Axiom "Birds of a Feather Flock Together" applies here. What groups do they belong to? Where do they hang out? Where might you "bump into" them or other folks like them? This is where social media gets interesting. You not only learn about the people you know, but you can learn about their companies, their interests, and as you aggregate this info across prospects/potential clients, you get some pretty serious intelligence about your markets. This leads you to get ENGAGED with your markets.
Remember, from the Cluetrain Manifesto, "Markets are conversations". If you learn the conversations in the environment they are happening, you are positioned to deliver the the correct message into the correct context. It’s like learning a foreing language – listen, repeat, learn, create.
These are a few of the concepts we cover in our Business Development Intensive. If you fit our ‘Perfect Client Profile’, please consider having a conversation with me about how it could dramatically improve your results!
Raymond Chip Lambert
Network 2 Networth
Deep Business Development
In the Media – Just Posted on My Website
Posted by: | CommentsIn the last few years I’ve been interviewed, written about, and have contributed articles to various publications.
I’ve just posted a resource page on my website for those of you who are interested.
Network 2 Networth in the Media – Click Here
I hope they help build the case of the importance of establishing yourself in your markets and letting people know about what you are up to.
Also, you may find them useful resources to share with your business partners to help them understand exactly what it is that you are trying to achieve in your own quest for Business Development.
There is a lot going on and I will be writing about it extensively over the next week or so – stay tuned . . .
Raymond Chip Lambert
Network 2 Networth
Deep Business Development
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An Answer to a Biz Dev Question on LinkedIn
Posted by: | CommentsAsked by Scott Whitbread
Big question. Here’s a shot from me!
1 – Build your skillsets and expertise. Being good at what you do and knowing what you are talking about is crucial for the credibility you are looking to build.
2 – Begin to read and know what the talking heads are saying in your industry as well as the vertical markets you are servicing. When you can speak intelligently to the issues that your markets are facing and really speak their language, one of the main barriers (being an outsider) disappears. Become conversant in the languages of your markets.
3 – Understand the myriad needs of your desired clientele. You are not going to be able to solve all of them. But as you build your network, look to include other professionals who can make you look like a hero for recommending them. This goes a long way toward building relationships in your markets. It also gets you known by the people who could be referring you future business.
4 – Seek to understand the sales cycle and the sales process associated with what you do. Master this. It is complex at first glance. However knowing it backwards and forwards will let you create a pipeline of business as well as create opportunities where most people cannot see them. Become a masterful sales person. This will also help you train the people who could be referring you. When you know the process and how you qualify a suspect/prospect, you can communicate that to others and grease the referral slide.
5 – Build value into everything that you do. Build a reputation for value. People will begin to search you out as you brand yourself this way.
6 – Enjoy yourself. People like to work with people they like to be around. When you are enjoying yourself and what you do, this communicates louder than anything you say. Especially if you are looking to cultivate referral business. I could go on and on, but this gives you a starting point. I’d be happy to chat with you offline if you’re serious about developing this skillset!
Raymond Chip Lambert
Network 2 Networth
Deep Business Development
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Announcing the LinkedIn® Hands-On Webinar
Posted by: | CommentsIt is difficult to stress the importance of technology for the management of our relationships. We run try to manage with PDAs, laptops, web apps, big and databases. But they all seem to fall short of actually tieing together our CONTACTS in a way the shows our RELATIONSHIPS.
Enter LinkedIn.
Now – I know what you are going to say – There are TONS of social network websites out there in Internet-land and hundreds of tools.
But I think LinkedIn stands apart for a few reasons – especially in terms of Business Development and actively generating referrals:
- LinkedIn is primarily a network of “Trusted Contacts” Which means that you only invite the people you trust to your network – giving you access to the relationship you’ve built up.
- As a permission based network, LinkedIn gives you a place to market yourself and your expertise without being to “Salesy” – a big deal for many people.
- As your network begins to grow – you can actually SEE who your connections know. Granted, your connections must have this feature turned on. Think about this – if you are looking, for example, to talk with partners in law firms, you can browse through your connections connections and see who they know. You can also do a search through your network and see who has second or third level connections. I tend to focus on second level connections – because I can pick up the phone and ask my friends to introduce me. I’ve set many high-level appointments this way. And people who are trained have requested the same of me.
- You meet extremely high quality people you otherwise would have never met. In a world that is rapidly going global, this can make the difference as you position yourself to capture the right kind of business for your enterprise.
To that end, I hooked up with Integrated Alliances out of Denver and am now offering the LinkedIn® Hands-On Webinar(TM) to help people setup and get the most out of their Linkedin Accounts. Check it out.
Combined with the Business Development Intensive training we do, this is a one-two punch for those of you who have large books of business and large networks, but have not really leveraged them fully.
For those of you who have completed our training, this Webinar is a don’t miss!
Raymond Chip Lambert
602-334-7944
chip@network2networth.com
