John Simpson, CEO, and Kalev Peekna, Managing Director of Strategy for One North Interactive lead an engaging session during the LMA Annual Conference entitled: Playing the Relationship Game in Today’s Connected World. The session focused on the effects relationships have and how they can impact a firm’s business and opportunities.
John and Kalev showcased how other businesses are using interactive marketing to reach their clients at every point in their decision-making experience. They also shared how essential it is to align your digital marketing and business development efforts along “The Relationship Cycle.”
From the session, the key lesson that resonated with me was that in the relationship cycle many firms are not participating in the “Active Evaluation” phase. It is in the evaluation phase that you can really learn about your business; then by following-up on the feedback, it formalizes a relationship and creates loyalty.
My favorite quote from the session reinforces this:
“Loyalty counts more and costs less than awareness.”
– Harvard Business Review
It shocked me to learn from the session that only 1 in 8 (12%) of firms always meet up with their clients to see how satisfied the legal department was with their work and 18% NEVER meet with their clients to discuss satisfaction. By engaging your clients and asking for feedback it opens the dialogue so that in future situations if an issue arises they may feel more comfortable coming forward with issues or input. Client retention should be a key part of the marketing and business development plan.
Yesterday we had the opportunity to attend the LMA-LA Chapter’s Continuing Marketing Education event where big ideas were brought to life. Our own Jennifer Whittier and Sam Shipley participated in the Cross Collaborations that Work segment of the conference.
Their session A Successful Marriage: Marketing & IT Working Together provided best practices and insights to succeed with technology. By collaborating together marketing and IT departments can identify and prioritize investments that grow into business for a firm. Here are a few best practices for collaboration:
Hold quarterly meetings with both departments to discuss projects and road blocks
Review the annual marketing budget together before submission so everyone knows what to expect
Discuss new large cross department projects at the outset
Make sure project plans and timing are discussed and agreed to
Communication and documentation are key in a successful partnership
Get to know each other personally by having team activities or social gatherings
Encourage/invite CIO to participate in committees such as client team meetings
Help market each other internally and give recognition and appraisal
The session wrapped up by leaving the audience members in laughter as the differences in the thought process between the two departments were showcased.
For more information on the conference visit their website: http://lmalaconference.la/ or check out the conference tweets #LMACME.