10½ ways patent attorneys in
Europe can make themselves more attractive to new
clients and new overseas
associates
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As a European patent or trade mark attorney, how will this special report help you? In the past patent and trade mark attorneys have been able to get by on technical expertise and reputation alone. This is no longer the case. Competition, not only domestically but from all over the world, means attorneys now have to work harder than ever to win new business and keep the clients they already have. In order to achieve growth, smarter firms now need to place more emphasis on how they present themselves in print, in person and online. To give you some ideas as to how you could make your firm more attractive to new clients and overseas associates, we would like to share some of the approaches we have developed alongside the UK’s leading patent and trade mark practices. By reading this report you will find out: 1. How to give your firm’s marketing a thorough ‘health check’ 2. How to create an effective marketing plan … the easy way 3. How to choose the marketing activities that suit you best 4. How to package your firm’s ‘story’ 5. How to tell your ‘story’ better 6. How to be sure an English speaking audience really understands your firm and your offer 7. How you can increase the success your marketing generates by being a bit more focused 8. How to structure your overseas travel so it generates more work 9. How to use insight from your current clients and associates to win more work 10. How to measure the success of and return from your marketing 10½. The most important part – how to put your plans into action?
1. Give your marketing a thorough ‘health check’ Before you work out where you want to be, it’s essential you work out where you are today. When was the last time you sat down and looked in detail at the way you market your firm? More importantly, when was the last time you sat down and really looked at how successful your marketing is? The types of questions you should be asking yourself include: What are your commercial objectives? What are you doing that works? What do you do well? Where do you need to improve? What activities do you need to add? What resources do you have available? What other resources do you need access to? This can be a time consuming process and will eat up a lot of expensive partner time. Sometimes it may be more efficient to ask someone with a lot of experience in auditing patent and trade mark firms to help. The three main benefits of utilising external experience are: You can use partner time more profitably Taking up partner time with marketing and planning meetings is not profitable. Using an external partner to audit your firm and create the right plan for your firm means you can do what you do best – looking after your clients and winning new work
You can take advantage of best ‘best practice’ An experienced external partner gives you unlimited access to the legal industry’s best practices. This will improve the way you market and give you new ideas that are already proven to work which means you avoid unwanted and costly ‘trial and error’ You will see improvements to your bottom line immediately A comprehensive audit will allow you to cut out activities that cost a lot (both in terms of cost and time) and deliver little. This will immediately make your marketing more effective and more cost-effective
2. Create an effective marketing plan … the easy way While some still see the creation of a marketing plan as a difficult task, it’s actually extremely easy. In real terms there are only three things you can (or should want to) do: 1. Win more new clients
2. Win more work from your existing clients
3. Win more work from your overseas associates
If you would like a more detailed article on how to write an effective personal marketing plan, please email [email protected] and he will send you a copy of an article recently published in The Patent Lawyer magazine.
3. Choose the right activities We are yet to meet a patent attorney who joined the profession to be a marketer but the ability to market is essential if you want your firm to keep growing and remain competitive. Marketing will never be your main priority and may not be an activity with which you are completely comfortable. However, having worked with a large number of patent and trade mark firms, we have learned it is not always the concept of marketing that’s uncomfortable but the individual activities involved. During the planning stage it’s important to look at which activities work and which you could be using and then align them to the skills and personalities you have available. In very generals terms there are (unsurprisingly given the authors of this report!) 10½ activities we’d recommend: 1. ‘Don’t sell, drink coffee’ Don’t sell, instead just spend time with people and build relationships 2. Participate in events Speaking slots reach everyone; just attending conferences won’t 3. Follow up (quickly) after you meet someone Make sure you get in touch and agree next steps 4. Get articles published Not in what you read, in what your clients read 5. ‘Saw this & thought of you’ Send out articles of interest. It’s ad-hoc marketing with a truly personal touch
6. Have a referral strategy Know what
you want from who, work out where to meet then ask for what you want 7. Gather case studies Adding them to everything you produce or present brings your story to life 8. Use LinkedIn little & often 10 minutes a week will keep you visible 9. Ask for testimonials Then use them. They will persuade in ways marketing copy never will 10. Let Google do the work Add fresh blogs, reports and articles to your site 10½ . Have the confidence to focus on what you’re good at and take action! And remember, no one person will be able or expected to do everything on this list. The trick is to work out who is happiest where and make sure the majority of activities on the list are being implemented across your team.
4. What is your story? The way you tell your ‘story’ (what your firm is, what it does and why it does it well) is what will help draw prospective clients and associates towards you. More importantly, it is what will convince them to work with you once they have found you. Once you decide upon your story, you have to have consistency – everyone needs to tell the same story every time they interact with your contacts whether that’s in person, in print or online. The traditional model is to concentrate on: The services your firm provides The expertise your attorneys have in specific scientific fields The history of your firm and the number of partners and other attorneys and paralegals you have Our response would be “so what”? How do details like this help you stand out from your competition? How will this style of factual reporting actually make people stop and think “that’s the firm I want to work with”? Instead your ‘story’ – your value proposition – should be based around what you really offer, around what people will get for themselves if they were to work with you. You should be thinking about things like: Service How do you deliver your services to make your clients’ experience of working with you as easy as possible? ‘Likemindedness’ What do you have in common that will help you build an effective, open working relationship?
Likeability and co-operation People like to like the people they work with. How do you communicate the personalities of your firm and your attorneys? Strategic input What can you offer a client over and above filing, protection and litigation skills? How can you use your experience of helping similar organisations to improve your client’s business? It is often easier to build your proposition with someone outside the firm; someone who understands exactly what the buyers of IP services want from their attorneys and someone with the marketing experience to package your ‘story’ in a way that shows you can meet those requirements.
5. How do you tell your story better? Looking at the websites of professional service firms it is fair to say few tell their story well. Most concentrate on themselves, listing facts and figures about partners and offices, occasionally mentioning sectors or clients but often as an afterthought. This is not interesting for the reader and it will not engage an audience in the way you want it to. Here are three golden rules to improve the way you tell your story: It’s ‘you’ not ‘we’ Write for the reader not the writer. Make sure you are addressing your audience personally and that the content benefits them and doesn’t just list facts about your firm and your attorneys. Use the right language Most of your clients possess an understanding of the terms used in intellectual property protection but they’re not experts. Remember to speak clearly using everyday language rather than legal jargon. Also if you’re writing for or speaking to a specific sector, use relevant reference points and include the vocabulary and terminology that sector employs. You will immediately be more credible.
Employing a professional copywriter is not expensive. Given the potential wins (and losses) that hang on the first impressions your prospective clients or associates will form on arriving at your website, is it an expense you can afford to ignore?
7. Increased focus; increased success When you are marketing do you have clear targets? Without applying focus it becomes very difficult to find, never mind win, new clients. Once you know which areas you want to target, you can work backwards and identify the events your prospective clients attend, the publications they read, the websites they use and the associations they belong to. Once you have that information, your marketing will immediately become more effective. Better still, as you will have worked out and packaged your story, you will have something powerful, attractive and relevant to say them. But what are the criteria you can use to focus your new client acquisition? In the most basic terms they will be the industries/sectors you have most experience in and the geography your office or offices can service without sacrificing the highest level of client care. When it comes to identifying new potential overseas associates you may want to look at the size of firms or the types of clients they typically serve or the types of patents they file. You may also want to look at “the path less travelled”. Try new cities and new areas that may not already have hundreds of attorneys asking to meet local firms.
Benefits, benefits, benefits People will only react to what you’re telling them if they can clearly see what is in it for them, how they will benefit from employing your services. Every time you come up with a fact, ask yourself “so what?” What does it mean for your audience? In general terms you want to show you can save your clients time, money or trouble. In intellectual property you have the perfect benefit – if your clients aren’t protected they could stand to lose market share, revenue or even their business. An external perspective on your key strengths and attributes will allow you to create a strong ‘story’ you can use consistently – in person, in print and online – to make you more attractive to prospective clients and boost your profile in key areas.
6. How can you be sure an English speaking audience really understands your offer? This is where you may need some help. Your website will either be a prospective client’s first point of contact or the first tool they use to validate what you’ve told them about your firm at a recent meeting. If the copy is awkward, stilted and clichéd you will undo all your good work up to that point. Having sharp, focused copy will underline your credibility and position you ahead of your competitors. The other thing to remember is that your ability to express yourself clearly, effectively and professionally will reassure prospective clients and associates that you are the people they will be able to trust with the preparation of filings and legal actions.
8. Apply a bit more structure to overseas trips Overseas travel is probably the most expensive part of any patent firm’s marketing budget. Whether the expenditure relates to attending traditional gatherings like INTA or AIPPI, sector specific conferences or good old fashioned sales trips to see key agents and direct clients based abroad, overseas travel remains an essential component to any successful international marketing strategy. However, do you know what return your travel budget actually generates? More importantly, do you know which types of trips generate the highest level of return? And by extension which could you drop, thereby saving you valuable time and costs in the process? In these tough times it is essential you concentrate on the activities you know work and maximize the volume of work attorneys get from overseas agents. “Fail to prepare and you prepare to fail” may sound like a cliché but like all clichés it only gained popularity because it’s true and that truth is never as apparent as when it is applied to overseas travel. Too many trips are still decided upon at the last minute, or equally as worryingly, agreed well in advance but not organized until the last minute. If you are to start maximizing the return from your overseas trips, the focus has to be shifted from thinking about the trip in terms of the time you’re away and start thinking about the trip as the mid-point of a six month campaign. .
This diagram is designed to show how to structure that 6-month campaign but if you would like a more detailed article on how to organise overseas travel so that it delivers a higher level of return, please email [email protected] and he will send you a copy of an article originally published in The Patent Lawyer magazine.
9. If you want to know how to sell something – ask the people who buy it If you look at the world’s most successful brands you will immediately see they place huge stock in finding out what their clients think, what their clients want and where their clients think they need to improve. For some reason patent and trade mark attorneys are often reticent about openly asking their clients for feedback
The truth is undertaking a formal client review programme pays dividends in so many ways. You will uncover additional fee earning opportunities One of our clients tells us all the time that “the richest source of new business this firm has is visiting our clients”. That’s right; not referrers, not direct mail, not sponsorship, events, seminars or networking – direct client contact! Talk to your clients; find out what’s on the horizon and where they’ll need your help. More than that, it’s incredible how often just entering into a conversation not directly related to a specific file will suddenly remind the person you’re speaking to they have some more work for you. You will save weaker client relationships How well do you really know your clients and your associates? How do you gauge whether even your longest-standing relationships are under threat? You ask them. It might sound simple but how many of your relationships do you take for granted, not realising small irritations are building into problems your competitors (all of whom are chasing your clients and your associates) could benefit from? Your attorneys will approach future business development meetings with more confidence Knowing what your clients want and how they want to receive it will give your attorneys more confidence.
They can use the insight you gain when they are with their clients or associates, when they’re pitching or presenting, when they’re out networking and know that the points they’re making will resonate and be well received. And the more confident your attorneys are, the more likely it will be they generate work from their activities. You will create more effective marketing messages To attract people’s attention you have to say something that means something to them. What do they want? How do they want it delivered? How do they want fees to be structured? Marketing is about more than telling people what you have; it’s about packaging and promoting your services in the way that means the most to your target market. The custodians of all of that information are your clients. You will learn how to improve your service offering You may think you know exactly what a client or associate needs and how they want it delivered but it’s worth double-checking before you make expensive and unnecessary changes. You may even find something new, something unique that you can introduce as standard and build into a real point of differentiation. You will however definitely find some improvements to make – improvements that will make you more attractive to both clients and associates in the future.
10. The carpenters’ rule: “measure then measure again” If you’re going to understand how successful your marketing is, you need to be able to measure and track progress and success easily. Why is measurement so important? Simple, because all too often what isn't measured isn't done. The easiest way to make sure your goals are measurable is to keep them SMART: Specific (as in clear personal accountabilities) Measurable Achievable Realistic Time-bound However, alongside financial targets you will need performance indicators: What do you need to do? How often do you need to do those things? How many times are you going to need to repeat those
activities if you are to realise your financial targets? For example, if it takes 10 emails to arrange 3 coffees to get one new piece of work, your targets need to start with the 10 emails, not a letter or a proposal and definitely not with a number preceded with a €.
You will highlight potential weaknesses in your service delivery Getting the means of delivery right doesn’t guarantee you’ll hold onto a client for life but it’ll get you as close as you can get. Find out exactly how a client wants to work; how they want to be billed; how often and by what means they like to be contacted; what they really consider to be ‘added value’. You will not only minimise the irritations that start small but end up costing you clients or associates, you will also strengthen your key relationships to the point where you can increase the level of work they produce. You will increase the financial return you generate from your marketing activities The insight you gain will allow you to cut out the marketing and activities that don’t work saving you time and money. It’ll make sure you’re projecting the right messages which will win you more new clients and more work from your current clients without spending any marketing budget. It’ll make sure the marketing you do send out is built around the right messages which means you will create more interest, more high quality meetings and – at the end of the chain – more fees. If you would like a free copy of our special reports “How you can win more work just by listening to your clients”, please email [email protected] and he will send you a PDF copy by return
10½. The most important part – how do you put your plans into action? We have never worked with an IP firm that lacked ideas as to how best to market themselves. We have however worked with many that, due to time pressures or a lack of marketing experience, weren’t totally sure how to put their ideas into action. There are many answers. Most centre on communication, planning and measurement as much as they do on creativity. But as the work starts to mount up and other parts of the ‘day job’ fight for your attention, it is often easier for an attorney to concentrate on what they know best. This is where experienced external support is invaluable. If that support is to be effective it needs to come from an agency who has the experience to know what really works when you’re marketing a patent and trademark firm. However they also need to understand the nuances of intellectual property. Someone with a long success record of working specifically with patent and trade mark attorneys so they deliver their advice in a way attorneys will relate to and be able to maintain the level of engagement you will need if you are to successfully put your plans into action. Size 10½ Boots deliver on both counts.
Those performance indicators then form the basis of a simple dashboard; somewhere your attorneys can record their activities quickly and easily. This will allow you to monitor progress continually – not to mention quickly and easily. Once your measuring tools are in place you will always know if things are on track. You will also be alerted to any potential shortfalls while they’re just a blip in need of attention rather than a black hole in need of disaster recovery. If you identify a missed deadline or a drop in activity, address it. From a management perspective it’s so much easier to broach the subject with those involved informally rather than wait until a more formal review of billing figures is required.
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“We enjoyed working with you very much. In fact, this was the most beneficial day within the last years regarding the marketing activity of Prinz & Partner.” Jochen Sties, Partner, Prinz & Partner “Tenandahalf delivered a thought-provoking and highly engaging seminar for CIPA that provided practical tips on how our members could increase the effectiveness of their business development activities. Throughout they demonstrated clear insight into the relationship between the modern professional services advisor and their clients alongside welcome reassurance to those patent attorneys still scared by the concept of selling.” Andrea Brewster, Greaves Brewster LLP and Member of Council, CIPA “Tenandahalf’s great strength is the ability to demystify marketing, helping us to channel our marketing efforts more effectively while avoiding blind alleys.” Simon Bentley, Partner, Abel & Imray “For our Partner’s Retreat programme we wanted a facilitator who would engage, motivate and inspire our partners. We were impressed with Size 10½ Boots’ professional and enthusiastic approach and their thorough understanding of our sector which added immense value and direction to the session. The Partners went away with the confidence and practical tools to retain and grow existing relationships and win new business for the firm.” Patrick Lloyd, Partner, Reddie & Grose
Why should you choose to work with Size 10½ Boots?
Tenandahalf have enormous experience in helping patent and trade mark attorneys increase their in-house BD capabilities making each firm we work with more visible, more responsive and, ultimately, more commercial. Our IP clients include:
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If you would like to discuss a particular marketing project please email [email protected]
If you would prefer to discuss the project in person please call
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