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PM Forum - Frankfurt
Focus! Or: the “how-to-guideline” for critical times
How should we react in the current crisis? How can we optimise our business processes with regard to time, costs and results? How and where can we identify potential new clients? Which programmes aimed at winning new clients are effective in such a crisis? How can we react to the pricing pressure? These were the five main questions posed as well as answered by Ralf Schoen at the PM Forum event held in March. The new Frankfurt offices of Freshfields Bruckhaus Deringer in the impressive Park Tower provided the perfect setting and location for this month’s meeting of the marketing community with more then 20 attendees.
Customer retention and customer loyalty is the key says Ralf Schoen, Chief Executive of Schoen + Company, with a long-time experience in strategic advice and consultancy. The marketing costs for winning new work on the other hand, in relation to the turnover made afterwards are more than four times higher. This, so everyone agreed, is hardly affordable these days. All the more important is a well-founded, detailed sales forecast.
Schoen consequently gave a short introduction into the terms of Lead Management and Opportunity Management and in this context stressed the significance of an effective communication network within the company. Talking of communication: not only internal, but also external – go out there; send your partners to the frontline! Understand the situation and make sure you show your clients that you do. Big cars, impressive receptions and expensive champagne are things of the past, for now at least. Take your clients by the hand and show them you are in the same situation – metaphorically speaking of course.
A study from February 2009 conducted by Schoen + Company about the pricing of law firms mirrors these findings. Almost 50% of the companies surveyed are unhappy about the transparency of the law firms’ billing and almost a third is discontent with the price-performance ratio – all coming back to loyalty and trust.
Hourly rates which are too high, fees which are non-transparent and overpriced bills are the reasons most frequently mentioned for a change of law firms.
Companies expect business-orientated thinking and responsibility for results - especially in a time of crisis.
Ralf Schoen’s conclusion is: “Focus, focus, focus!” Identify your target group, define their current situation and make out the best possible service for you to offer – there’s your recipe. “Success is always long-term orientated – so try not to force it in the short-term”.
Lena Dietz
TRILLER COMMUNICATION Consultants
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