Facilitating the perfect lunch/dinner discussion

Roundtables, where you invite a series of guests along to talk over lunch or dinner, are a great way to generate publicity (if you invite a journalist to discuss a topical issue) and effective at subtly promoting your firm whilst helping your existing and potential clients and referrers network and develop relationships.

Here are the top 10 tips for organising the perfect event:

1. Be clear about your objectives
What are you trying to achieve? It is hard to set objectives – particularly if you are organising an event that is not part of an integrated, ongoing campaign. But it may be that you want to thank people for their continued business or recent referrals, that you want an opportunity to get to know potential clients a bit more personally or you want to use a low commitment but high value entertaining opportunity to reach senior decision makers amongst target clients.

2. Do your homework
Find out about the people who will be attending. Research their current roles and organisations, but dig a little deeper to find out where they worked before. Discover their current projects and issues and any particular areas of expertise. Not only will this help you with the informal introductions at the start of the event, but it will enable you to encourage participation from those who might have an interesting perspective during the discussion.

3. Brief people in advance
Once you know who is attending you should send out a list of the confirmed attendees – ideally with a short profile about each person and their organisation. You should send out a list of 5-6 key questions or issues that you plan to discuss at the event – this way people can get their ideas together and be ready to contribute. Be clear about the start and end times – you don’t want people leaving prematurely because they did not allocate enough time. If you have a guest speaker, it is important to provide some information about him or her and be clear about the “rules of engagement” – confidential, Chatham House rules or a public debate? It is also a good idea to arrange for someone to telephone each attendee the day before to confirm that they are attending and whether they have any special dietary requirements.

4. Check that the venue is suitable
There are many suitable venues for a private dining function – whether this is somewhere like the Institute of Directors or some other private members club or the private rooms at numerous wine bars, hotels and restaurants in any City. However, in addition to being able to comfortably seat however many people you anticipate attending (and there is probably an upper limit of about 18 for a discussion around one table – so bear in mind that your seating plan is critical as it is likely that conversations will take place at the ends and in the middle) you should consider whether there is enough space for people to mingle a bit on arrival. Otherwise, they are limited in their conversation to those people whom they are sitting near at the meal. Please also make sure that the catering staff are aware of the procedures, do you really want to have conversation stopped mid-flow while the caterers ask questions?

5. Arrive early
Don’t just send your juniors along. Some guests are likely to arrive early. As host it is your job to welcome each guest on arrival, provide them with a drink (there must always be non-alcoholic choices available) and introduce them to some of the other guests. I was present when a very high profile client turned around and left in a huff because the most senior person at the firm was not immediately available to welcome him. Ideally, the entire host team should be assembled a good 30 minutes before guests are due to arrive. And if you haven’t already had a briefing meeting, this is a good time for last minute discussions.

6. Encourage early and short introductions
Once everyone is seated, introduce yourself and the home team. Do a quick run through of the timetable and proceedings so that people know how much time is to be committed to each of the discussion topics. Then invite each person around the table to provide a quick introduction to themselves. It will help the discussion flow if everyone knows as soon as possible exactly who is present. If you have a guest speaker, then you should have a short and punchy introduction prepared for them.

7. Facilitate discussion
Play an active part if you are chairing the discussion. This may mean that you have to speak to one or two participants in advance and gain their agreement for explaining their views or sharing their experiences at the outset. Try to ensure that everyone participates – by asking people for their views particularly. Guard against one person dominating the discussion – by asking others for their thoughts on the topic. Ensure that the discussion keeps moving. Once a topic has been tackled, introduce the next topic and keep things moving.

8. Keep an eye on drinks and the meal
Whilst I shouldn’t need to say that care should be taken with alcohol I am afraid that experience suggests that I must. Whilst you don’t want to appear mean, you also don’t want to appear as being overly generous. Keep an eye on who has an empty glass – and who might welcome another drink. Always ensure that there is plenty of water available – people should never be left with an empty water glass.

9. End on a positive note
Make a few notes about the key points arising during the discussion. Keep to the published schedule and perhaps draw things to a close by summarising some of the key points discussed. Thank any guest speakers. Check that everyone takes all of their belongings and has the necessary support for their ongoing travel arrangements.

10. Arrange a suitable follow up
Whilst guests are likely to send a thank you note, and make contact with others that they met at the event, you might facilitate this process by circulating a list of the attendees and their contact details (if you have their permission) and also perhaps having a list of the key bullet points discussed and perhaps attaching some more detailed information that may be useful. But avoid blatant and inelegant marketing of your organisation at this point.

Marketing is dead, long live selling?

Last week, I had a good chat with a guy who was one of the first people to be appointed as a “salesperson” at a professional service firm several years ago - as part of my research for an article on business development careers in the professions.

I explained that I see the business development process as three discrete processes – marketing (from the strategic development of the firm through market, service and pricing decisions through to marketing communications), selling (winning new clients) and relationship management (developing existing clients and referrers). I often have to point out to partners that the highly regarded gold standard CIM marketing qualification does not teach people how to be salespeople or relationship managers (some call these people account managers). Having started my own career going through intensive training to work in the field sales team of a large computer company, I have always been fascinated with selling in the professions (my first book in 2000 was even on this subject).

My “salesperson” objected to the term “selling” as it has connotations of “pushing” a firm’s services out to clients – whereas he regards himself as a relationship manager who develops bespoke solutions to client problems (the consultative approach to selling). His role is to:
• Identify suitable targets in conjunction with the fee-earners
• Undertake research (where the services of the firm’s research and information team are highly valued but personal networks are vital) on the targets, their industries and the issues that they face
• Instruct the marketing team to prepare relevant materials and events
• Establish contact with the appropriate clients and contacts (he can make 30 cold calls in a day, and achieve a 70% success rate in setting up appointments)
• Develop a relationship where relationships can be developed and needs explored
• Coach and support the fee-earners to maximise all opportunities
• Manage the entire process until and beyond when the deal is struck

In his model, in order to do the job effectively you need:

• indepth knowledge, experience and even qualifications in the market you are serving (whether this is real estate, private equity or energy) so that you understand the issues affecting clients and can speak their language
• sufficient understanding of the products and services on offer to be able to match client needs appropriately and differentiate your service with a bespoke solution (although he always works with service line experts who have detailed technical knowledge)
• strong interpersonal skills – particularly good self-awareness to know and adapt your own style. He feels that either psychological training or NLP helps here with creating rapport.
• a structured approach to selling – he advocates SPIN (but agreed with me that Strategic Selling provides a broader framework for marketers/BD professionals). He is also an advocate of Franklin Covey’s “Helping clients succeed” approach
• a desire and ability to spend a huge amount of time face-to-face or on the telephone to prospects and clients

In his world, marketing has no contact with clients – and from his perspective, some marketers are simply not up to being trusted with client contact whilst many simply don’t want it. In his model, marketing is mostly concerned with producing materials and co-ordinating the processes to manage events and projects. With technology advancing to provide fantastic tools to easily prepare documents, web sites, pitches and presentations (see my previous post on Vuture and Vx) it may not be long before the marketing team doesn’t exist. But the relationship managers will reign.

Recent reviews

Most of you are aware that in addition to my day job, I also get to review restaurants and stuff in London and also write a Kids in London blog and a blog on more grown up entertainment in and around the capital. So go and have a look at the material by KimT and MayB at www.allinlondon.co.uk – particularly the recent reviews of:

Kids in London

Walking with Dinosaurs
British Music Experience
Harry Potter and the Half Blood Prince
Legoland in Windsor
Virginia Water
Kew Gardens
Ripley’s Believe it or Not Odditorium

Restaurants

Lutyens – Fleet Street
PJs Grill – Covent Garden
Latium – Berners Street
Hush – Lancashire Court
Rocket – Lancashire Court
Taman Gang – Marble Arch

Pubs/Bars

The Roebuck – Hampton Hill
VATS Wine Bar - Holborn
Sir Christopher Hatton – Holborn
Old Bank of England – Fleet Street
Punch Tavern – Fleet Street
Dream Bags and Jaguar Shoes – Shoreditch
La Grande Marque – Ludgate Hill
The Turks Head – St Margarets

Adult events

Waterhouse Exhibition – Royal Academy
Covent Garden – Royal Opera House

Real CRM – 20 Top Tips

The following is an extract from an article called “From messing around with databases to real client relationship management” published in the current edition of PSMG magazine:

...So. The mismatch between this unholy trinity (marketers, fee-earners and clients) is understood. But what do we do about it?

1. Change attitudes – Take time to understand the prevailing attitudes and engage the partners in constructive dialogue about the issues, opportunities, challenges and options. Start from a place of psychological safety and common purpose. Promote a “it’s not about us, it’s about the client” attitude.

2. Undertake research – Do desk research and then go out and actually speak to the clients and hear, in their words, what good relationship management feels like. Select three key behaviours and build a training/communication programme around it. Make the key ideas stick. Own them.

3. Build a simple account plan – Use the client research to build an account plan and help the partners identify a series of action for the short term to improve relationships. Aim for quick and easy wins.

4. Produce a blueprint and service map – Develop a systems approach to understanding how core services are delivered, then structure workshops around them and find ways to improve or innovate. “Micromanage the client experience”.

5. Provide relationship, account management and sales training – Avoid badgering partners to undertake audits, research, visits and other activities when they lack a basic understanding of the processes and are ill equipped with the necessary tools, skills and confidence.

6. Capture best practice – Identify those partners who get it right. Help them articulate what they do for others to learn.

7. Conduct compatibility assessments – Ensure that the partners, staff and other clients that clients come into contact with are well matched. See the work of Martin and Pranter.

8. Scan for weak signals – Watch like a hawk for innovations and new demands. Listen attentively to your most challenging and “difficult” clients. What one or two demand today, the rest will expect tomorrow. Be at the front of the wave.

9. Examine critical incidents – Look at experiences that have a disproportionate impact on client perception and satisfaction – both negatively and positively. Be aware of the impact of transaction specific and cumulative satisfaction. Update your service recovery procedures.

10. Coach the relationship partner – Do research and immerse yourself in the client’s business. Work with relationship partner, share your insights, ask tough questions and get them to think about the client in an holistic way. Attend client meetings.

11. Empower your people – Everyone in the firm can delight (or disappoint) clients. Services are evaluated as a series of processes which, while frequently intangible, leave concrete impressions and memories. Use a tool like Servor to assess the contribution of employees to service culture. Give staff encouragement to take the initiative. Mirror and match relationships to help secretaries and assistants forge friendships with their client side peers.

12. Stay close to clients – Research suggests contact at least 10 times a year. Monitor clients online by setting up alerts to flag changesto the relevant partners. Help them use this information proactively.

13. Review your client’s costs – Set up a regular monitoring system and call them up to suggest ways that they can work differently to save money.

14. Categorise your clients – Use one of the many models (eg Fred Reichheld’s Net Promoters Score (NPS) to measure customer advocacy) to categorise your client relationships, focus your attention and concentrate on the actions that promote clients to deeper and closer relationships.

15. Understand where the client perceives value – It isn’t always what you charge for. Some clients indicated that they would pay for account management or executive briefing services. Invite clients to talk about “what we most/least value about our legal/accountancy/property advisers”

16. Ban email – Force busy people to really interact with their clients by picking up the phone. You glean far more information from a quick phone call than from a series of lengthy emails – plus you get a chance to develop a personal relationship

17. Talk about the future – Step away from the day to day and schedule a chat with your client to talk about the future. Their future.

18. Collaborate – Find ways to develop mutual benefits and increased profits. It will deepen your understanding of their business and bring you into contact with different executives. You will be positioned in a more commercial light.

19. Add value – Find creative ways to add value. And it’s not always big or expensive ways. One firm provided an admin resource to help during a busy period. Another provided introductions to potential customers.

20. Analyse client lifetime value – Look at the numbers. Assess how much profit is generated over several years and correlations with satisfaction and relationship metrics.