Search Results "business-development"

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How to Tap Your Network to Boost Sales

Read on for a quick 101 in the art and science of warm introductions.

If your cold calls get the cold shoulder, know that the odds are against you. Just 1 percent of cold calls result in a meeting. And nearly nine out of 10 high-level B2B buyers don’t even respond to them.

What buyers really want are referrals from people they know. In fact, a referral kicks off the sales process for 84 percent of B2B buyers. Why the high rate of success? Because referrals from real-life connections warm up the buyer (hence the phrase “warm introductions”),…

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3 Ways AEC Firms Can Improve Sales and Marketing Alignment

As the unrelenting wave of digital transformation washes over nearly every business, the movement has finally reached the notoriously traditional architecture, engineering and construction (AEC) industry and its customers, as well.

At the same time, the growth of omni-channel and transmedia marketing engagement strategies further complicate how marketing and sales teams nurture and engage customers through a journey to purchase.

The former aims to provide a seamless customer experience, regardless of channel or device or stage of maturity. While the latter is all about storytelling that “transports” a customer into a brand’s world, to forge a personal connection…

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Four ways to grow your AEC client roster with relationship mapping

In an effort to jumpstart lagging productivity, the architecture, engineering and construction industry is looking to cutting-edge technology, like augmented reality, artificial intelligence and machine learning. And now relationship mapping technology.

It makes sense. Artificial intelligence is already revolutionizing logistics, construction, and even design. Now it’s simplifying how AEC firms build the business relationships that matter.

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How to Cultivate the Elements of a Successful Business Development Strategy

The Four Elements of Business Development: Get Them All

Is your legal firm struggling to grow? As I talked about in my last post, in the face of flat-lining legal services demand, a strong business development strategy is more important than ever if you want to expand.

In that post, we ran through the four revenue-generating elements of business development: customer retention, cross-selling, upselling and prospecting. And I shared how enterprise relationship management platforms, like Introhive, makes it easier for firms (like Fenwick & West LLP) to include all four in their daily processes.

Now, let’s see if you know…

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4 Key Elements of Successful Law Firm Business Development Strategy

Legal services demand has flatlined, stymying business development and marketing, leading some experts to point to increasing client dissatisfaction and the rapid growth of in-house legal departments as the cause.

But whatever the reason, a strong business development strategy that drives revenue and retains clients is more important than ever. Are you on the right track?

To be sure your business development plan is up to the task of dealing with today’s shrinking legal prospects, check out this list of four must-have elements.

The 4 Elements of Strong Business Development Plans Element #1: Customer Retention

Acquiring new…

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5 Tips for Better Relationship Management in 2019

Which of the following is on your business development to-do list for 2019?

Close more new customers Decrease customer churn Increase referrals All of the above

If you didn’t answer D, you’re either wildly successful (in which case, congratulations!) or you’re in trouble. But regardless of your answer, the real question is: What will it take to meet your goal?

Prospecting is hard—it takes about 18 calls to connect with a buyer. And customer retention has its own challenges, as unhappy customers are more likely to simply leave you than complain.

But never fear. This list of 2019’s…

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How to Use CRM to Increase Upselling and Cross-Selling Opportunities

When it comes to growing revenues, the data all points toward cultivating active client relationships:

It’s 68% more expensive to earn $1 from a new customer than from an existing customer (forEntrepreneurs) 70-95% of sales comes from upsold or cross-sold revenue (forEntrepreneurs) The probability of selling to an existing customer is 200-1,400% higher than selling to a new prospect (Groove)

The data speaks for itself, but how can firms identify those cross-selling and upselling opportunities that should be low hanging fruit? Which clients have the greatest potential to expand their serviceable needs and how can sales and business development accelerate…

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Today’s Must-Have Intelligence Technology for Law Firms

“Work smarter not harder” has become the rallying cry for law firms struggling with flat demand for independent legal services.

To thrive, firms are doing more with less and relying on intelligence. And I’m not just talking about brilliant legal minds.

I’m talking about your firm’s data—how it’s generated, analyzed, and shared. In fact, four types of intelligence solutions are disrupting the legal industry right now. Is your firm taking advantage?

Read on to get the scoop on these new solutions, and how your firm can use its data and systems to boost productivity and grow.

Artificial Intelligence (AI)

AI…

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4 Statistics That Will Help You Shape Your Marketing Technology Budget

People are an organization’s greatest asset, but technology is the heartbeat of modern business, helping companies operate more efficiently and more productively. Leaders today know they need to invest in innovative technology to keep pace with their competition and to deliver world-class customer experiences.

There are almost too many options out there today for companies to choose from; Customer Relationship Management (CRM), Enterprise Relationship Management (ERM), Business Intelligence (BI), Configure-Price-Quote (CPQ), Document Management Solutions, and the list goes on.

But while firms want to push innovation, many have historically encountered challenges with successfully deploying new technology company-wide. Failed technology projects…