Legal Services Act Seminar 3rd March 2010
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Legal Services Act Seminar 3rd March 2010

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This seminar looked at the changes to the legal profession being introduced by the Legal Services Act 2007 and the potential implications for law firms. The main focus of the seminar was on how law ...

This seminar looked at the changes to the legal profession being introduced by the Legal Services Act 2007 and the potential implications for law firms. The main focus of the seminar was on how law firms could harness digital media to develop and promote their brands and online presence.

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  • Next page - Agenda
  • Simon – Housekeeping – Toilets, There are no fire alarms expected today, fire assembly points, there will be a break when refreshments will be servedQuick Bio from each of the speakersAsk attendees to introduce themselves and what they want to get out of the workshopNext page – Introduction to Gateway Media
  • Set up in 2005, we are working with businesses to enhance their communication and marketing strategies. We work with a partnership approach with many of our clients forming long term relationships with us.We do this be providing a consultative service, advising on which aspects of digital media will be most affective.Next page - Here are some examples of our clients.
  • We deal with similar issues with organisations across many sectors and large and small firms.Next Page – The Services We Offer
  • Video, design, online, marketingNext Slide – Our Promo Video
  • Play Video then Next Slide - Introduce Michael who is going to present on the Legal Services Act
  • “The business structures through which legal services are delivered to the public have changed little over a considerable period. The most easily recognisable structure is the high street solicitor, practising either on his own or in partnership with other solicitors. But business practices have changed. In particular the skills necessary to run a modern legal practice have developed; but whilst those with finance or IT skills may sit on the management committee of a legal firm, they are not permitted to be principals in the business. There is concern also about whether the restrictive practices of the main legal professional bodies can still be justified, in particular those which prevent different types of lawyers working together on an equal footing. There is pressure for change from those who represent consumer interests, but also from many in the legal profession, particularly the Law Society who have made a strong case for liberalisation of law practices.”“I have learnt that certain lawyers dislike being described as part of an industry. They see a conflict between lawyers as professionals and lawyers as business people. The idea that there is a major conflict is in my view misplaced. Access to justice requires not only that the legal advice given is sound, but also the presence of the business skills necessary to provide a cost-effective service in a consumer-friendly wayReview of the Regulatory Framework for Legal Services in England and Wales – Final Report; Sir David Clementi December 2004, Foreword
  • LDPs and ABSsLegal Complaints Commissioner and Legal Services Ombudsman abolished. The OLC created and that sets up the Legal Ombudsman, operational from the second half of this year.Non-lawyers can finally own law firms
  • LSB – answerable to the Consumer Panel and the Lord Chancellor, thence Parliament
  • s. 1(1) The regulatory objectives  (1) In this Act a reference to “the regulatory objectives” is a reference to the objectives of— (a) protecting and promoting the public interest; (b) supporting the constitutional principle of the rule of law; (c) improving access to justice; (d) protecting and promoting the interests of consumers; (e) promoting competition in the provision of services within subsection (2);(f) encouraging an independent, strong, diverse and effective legal profession; (g) increasing public understanding of the citizen’s legal rights and duties; (h) promoting and maintaining adherence to the professional principles.  And  s. 1 (3) The Professional Principles(a) that authorised persons should act with independence and integrity, (b) that authorised persons should maintain proper standards of work, (c) that authorised persons should act in the best interests of their clients, (d) that persons who exercise before any court a right of audience, or conduct litigation in relation to proceedings in any court, by virtue of being authorised persons should comply with their duty to the court to act with independence in the interests of justice, and (e) that the affairs of clients should be kept confidential. (4) In this section “authorised persons” means authorised persons in relation to activities which are reserved legal activities.s
  • The governing rules between regulators and the regulated and between regulators to avoid conflict still to be finalised
  • Independent Complaints process seen as being necessary after the failures of the SCB and Legal Complaints Service and LS Ombudsman
  • Only about 70 firms have opted for LDP status so far. They will convert to ABSs automatically when ABSs come in to force in October 2011Applications for ABS status to be allowed from next summer
  • Is “Tesco law” the main threat – or is it IT?Mayson – predicts carnage in the professionSusskind – IT will fundamentally change how lawyers do business – The End of Lawyers?
  • 15 Models – Nick Jarrett-KerrTraditional Law FirmMarketing Umbrella e.g Quality SolicitorsLaw Firm Franchise – Specsavers modelConsolidated Law Firm Roll UpVirtual Law Firm – e.g KeystoneLegal Multi-Disciplinary PartnershipIntegrated MDPExternally Financed Growth – e.g private equityBranded Conglomerate – e.g Tesco LawLaw Firm PLCIntegrated Legal NetworkExternal Consolidation Roll-upOnline Firms – Tessa SheppersonNot for profit firmsIn-house teams
  • In House Counsel?
  • $6 HaircutsThe four “A”sToo much lawSecretaries – why? Outsourcing/email/IT solutions/Online document creation – PJH Solicitors/Disruptive TechnologiesWhich is the bigger threat? LSA or IT?Knowledge vs Judgement
  • Having trawled through some of the top 200 UK firms there is a glaring absence of this information. At a time when clients want to know what you are doing for them, their communities and the environment it seems the industry has a long way to go. Part of the challenge for companies batting against Tesco in the power of the brand. When you have no brand recognition these values will go a long way to changing the traditional perception of law firms. Most consumers dread the thought of engaging a solicitor just because of the perceived high rates and inability to know whether you are getting value for money Tesco and the other supermarkets have addressed this by having their regular reviews of prices to publicly benchmark themselves against each other. Will they be doing this with their legal services I wonder?
  • Epoq saw an opportunity to be intermediaries based on the use of technology to create a new market. Probably used first mover advantage and create barriers to entry with technology. Entire business model is a USP.
  • Make sure you engage your staff and your closer more friendly customers when finalising your mission statement so they will be on board but it also creates another reason to get in touch.
  • Think about local communities and how you can help, pro-bono working, corporate social responsibility, providing work experience, volunteering, the environment and green issues (have you defined your environmental policy?). There are local agencies that can help. Every child matters so what can you do to help?Use of paper in law firms is extremely high. You should look at how to reduce this and increase productivity using relevant technologies.
  • People buy your products/services for their strengths. They work around any weaknesses. Suppliers often concentrate too much on their weaknesses and assume, incorrectly, that everyone understands their strengths. In the end, when everything is stripped sway all you have is your strengths, so actively promote them.
  • This is a key slide because it shows that marketing is not just leaflets and websites70% of marketing is research , asking people, reading and being in librariesNotice we start with the target first In terms of segmentation use example of restaurant:Look at corporate segmentsAnd then a restaurantFollowing segmentsLunchtime tradePre theatre partiesLate night dinersFamilies
  • In looking at what is your market you need to considerYour current marketThe potential market, of which your market is but a part Take a broader view of the market? E.g. An events company instead of looking at “events” take a broader view of company bonding, well being, etc. Focus on the benefitsLook at your own company? SWOT
  • AgeGenderWhere they liveThe market sectorBusiness size
  • Face to face / phone: Have script before hand, but don’t stick to it word for word or you will sound roboticTell them how long it will takeMake a note of the business contact you spokeFor business people it is sensible to agree a time, keep it short as possibleWritten questionnaires give a better quality of responseNB: 5% is average rate of return so make sure your response is statistically significantUse gifts as incentives and prepaid envelopesPersonalise the letterSend out a trial sample first
  • Marketing is like cooking – you need the correct blend of ingredients each of the four Ps needs to be tailored to each segment
  • For example primark, heavily focuses on price
  • For example marks and spencer
  • Depending on segments, resources and market characteristics will determine their marketing mixFor example Tie rack – strength is placeAmazon: placeTesco: used to be price, but now qualityM&S: productPrimark: priceSoap product and beer: promotion
  • Depending on segments, resources and market characteristics will determine their marketing mixFor example Tie rack – strength is placeAmazon: placeTesco: used to be price, but now qualityM&S: productPrimark: priceSoap product and beer: promotion
  • Depending on segments, resources and market characteristics will determine their marketing mixFor example Tie rack – strength is placeAmazon: placeTesco: used to be price, but now qualityM&S: productPrimark: priceSoap product and beer: promotion
  • Bottle:Features: fragrance, bottle, large lid, spray Benefits?GPS:map of UK, voice, clip, speed camera alert, full colour , electrical lead
  • The sum of your benefits is your value proposition = your core messageUse the link “which means that...”
  • Give example of working for arcadia
  • Which ?where would my potential customers look for suppliers of my products and services?choose methods according to cost, targeting and responseMarketers use cost per thousand (higher cost for better targeted methods)If seeking direct response monitor according to cost per response and also cost per conversion. Choose advertising and publicity methods that suit your targeting. If you decide to buy advertising the media agencies are able to provide a lot of information about their readership/audience. Getting and building evidence of advertising effectiveness is a vital partAsk people how did you hear of us? Keep a list of the recipient list by the phone and tick them off one by one.
  • we are going to focus on the red areas, especially sales face to face
  •      Contact the Direct Marketing Association or country equivalent for more information about providers of lists and mailing services, etc.
  • Printing costs reduce dramatically with volume. Ask for run-on costs. Digital printing methods are appropriate for low volumes. Paper type: letterheads 90-100gsm, Single sided colour printing 100gsm 200gsm is minimum weight for a post card format. Direct Mail: Avoid using non-standard envelope sizes. Royal Mails new pricing system based on size (and weight)Door to door: Large quantity leaflet drops to consumer households or business addresses, without the need for envelopes can be arranged through the Post Office in the UK). Targeting based on postcodes is possible to a degree, and the cost is often inclusive in the distribution charges. Inserts: Brochures to be sent out with a magazine or newspaper.Charges vary according to weight, volume, targetingResponse rates from inserts are almost always lower than direct mail, Big coverage Bound-in inserts don't fall Details can be obtained from the Direct Marketing Association.
  •  
  • You can look like an authority by adding newspaper articles, testimonials, case studies from real clients. Add a press section
  •  
  • We get on average 400 marketing messages a daySaturatedInterruptive
  • Look for parallels in other industriesThe Call Centre, Help Desk & Customer Service industry The retail banking & finance institutions took the lead in segmenting their market:Identify the 20% of clients that generate 80% of profitCreate 3 different versions of the same product differentiated by the level of service provided, cost, value added services, etc. (e.g. silver, gold, platinum)Offer platinum product to the high net worth 20% and make it really easy for them to but itMake sure you cross sell all your products to all your clientsTreat the silver service more like a commodity product with high levels of churn expected, low cost to sell (automate if possible), high charges to client if they want to go outside the mould, low barriers to entry, manage risk with a fixed impersonal automated approach to stop high risk defaulters becoming customers (the criteria changed as competition increased).
  • Is it happening from within your industry?Eversheds is doing it (from The Lawyer website)The national firm’s decision to ramp up its ­commodity arm through a joint venture with its South African ally is a fascinating admission that its bulk Legal Systems Group in Cardiff is under ­sustained pressure to deliver services even more cheaply. Eversheds envisages a model where 80 per cent of this bulk work will eventually go to South Africa and 20 per cent will remain in Cardiff. Clients want the low-level stuff done as cheaply as possible, and quite right too; in fact, the more firms that respond to this, the better.
  • Next slide – Is it Widely used in your organisation?
  • Next Slide – Is it new?
  • Next Slide – Digital growth forecast
  • Next Slide – How effective is your website?
  • Next slide - Good example from the industry landlaw.co.uk
  • Does your site do all of this? Next Slide – Sites Blog
  • Next Slide - Features of the site
  • Next Slide - CMS websites
  • Do you have a CMS?Next Slide – Where a CMS sits between info site and interactive web 2.0 site
  • Next Slide – Content Managed Site homepage
  • Next Slide – doing a CMS update in action
  • Ease of use – like word processorNext Page – CMS are you interested?
  • Next page – Promotional strategies
  • Next Slide – Email Marketing Stats
  • Next Slide – What should it include?
  • Next Slide – Gateway Media email marketing example
  • Next Slide – Who to target
  • Next Slide – Email marketing reporting
  • Next Slide – Social Media
  • Next Slide – Social Media What is it?
  • Next Slide – Social Media Tools
  • Next Slide – Social Media Statistics
  • Next slide – Social Media Statistics Continued
  • Next slide – A Company blog?
  • Next slide – types of blog – wordpress, blogger etc
  • Next slide – Micro Blogging TwitterDifferent ways to create a blog, wordpress, blogger, typepad.Blogs are often more visited than company sites as people are more interested in personalities. Blogs also rank higher in Google searches.Technorati is a blog search engine that where you can register your blogA blog (a contraction of the term weblog) is a type of website, usually maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video. Entries are commonly displayed in reverse-chronological order. "Blog" can also be used as a verb, meaning to maintain or add content to a blog.Many blogs provide commentary or news on a particular subject; others function as more personal online diaries. A typical blog combines text, images, and links to other blogs, Web pages, and other media related to its topic. The ability for readers to leave comments in an interactive format is an important part of many blogs. Most blogs are primarily textual, although some focus on art (artlog), photographs (photoblog), sketches (sketchblog), videos (vlog), music (MP3 blog), audio (podcasting), which are part of a wider network of social media. Micro-blogging is another type of blogging, one which consists of blogs with very short posts. As of December 2007, blog search engine Technorati was tracking more than 112 million blogs.[1] With the advent of video blogging, the word blog has taken on an even looser meaning — that of any bit of media wherein the subject expresses his opinion or simply talks about something.
  • Next slide – Gateway MediaTwitter pageMicro-blogging is a form of multimedia blogging that allows users to send brief text updates or micromedia such as photos or audio clips and publish them, either to be viewed by anyone or by a restricted group which can be chosen by the user. These messages can be submitted by a variety of means, including text messaging, instant messaging, email, digital audio or the web.The content of a micro-blog differs from a traditional blog in that it is typically more topical, smaller in aggregate file size (e.g. text, audio or video) but is the same in that people utilize it for both business and individual reasons. Many micro-blogs provide this short commentary on a person-to-person level, or share news about a company's products and services.However, the most notable service is Twitter, which was launched in July 2006. Twitter is a social networking and micro-blogging service that enables its users to send and read other users' updates known as tweets. Tweets are text-based posts of up to 140 bytes in length. Updates are displayed on the user's profile page and delivered to other users who have signed up to receive them. Senders can restrict delivery to those in their circle of friends (delivery to everyone being the default). Users can send and receive updates via the Twitter website, SMS, RSS (receive only).Most followed person on Twitter is Stephen Fry with nearly 340,000 followers.Other leading social networking websites Facebook, MySpace, LinkedIn, and Xing also have their own micro-blogging feature, better known as status updates.
  • Next Slide – Tips on Twitter
  • Taken from http://blog.onlymarketingjobs.com/10-ways-to-increase-your-twitter-followers/Next slide Social Networks
  • Next Slide – Linked In Tips
  • Taken from http://www.ianbrodie.com/marketing/linkedin-tips-professionals/Next slide – Don’t forget your Tone of Voice
  • Tone of voice taken from http://www.cib.uk.com/content/knowledge-bank/1436-beginners-guide-to-tone-of-voice.htmlNext slide – Viral Content? Photo and Video sharing
  • Next slide –Photo and Video sharing websites
  • Next slide – Pay per click
  • Next slide – Pay Per Click Continued
  • Next slide – Summary – Who are you talking to?
  • Next slide – Summary – Where are you talking to them?
  • Next slide – Summary – How are you talking to them?
  • Shouting Vs. Sharing a relationshipNext slide – Summary – What are you saying?
  • If you had 100 people in a room, what would you want them to do?Next slide – Summary – Media Matrix?
  • Next slide – Q&A
  • Next slide – Contact Details

Legal Services Act Seminar 3rd March 2010 Legal Services Act Seminar 3rd March 2010 Presentation Transcript

  • Combating ‘Tesco Law’:
    Prepare your Brand Presence
    • Simon Baker – Account Manager
    • Yvette Elkana – Managing Director
    • Neil Ramsorrun – Creative Director
    • Michael Scutt – Dale Langley
  • Agenda
    Introduction
    Legal Services Act – Michael Scutt
    Marketing Refresher – Yvette Elkana
    Digital Media – Neil Ramsorrun
    Q&A session & Feedback
  • Gateway Media
    Cutting edge digital design agency
    Working with businesses who are trying to grow but are not getting noticed in their market
    Providing expertise and skills to improve communication and marketing efforts
    An impressive track record of intelligent and engaging solutions for a wide range of clients
    Industry leading quality and value for money
    A social enterprise supporting City Gateway
  • Sectors
  • Services
  • Combating Tesco Law: The Legal Services Act 2007
    Michael Scutt
    Dale Langley & Co
    60 Lombard Street
    London EC3V 9EA
  • Agenda
    The Legal Services Act 2007
    Why ?
    What?
    Tesco Law
    10/2/10
    (c) Michael Scutt 2010
    8
  • WHY?
    Brief History – OFT, Clementi Report
    Legal Profession – the last cottage industry?
    Need for reform
    10/2/10
    (c) Michael Scutt 2010
    9
  • What?
    Simplify Regulation
    new regulatory structure
    Reform Complaints Procedures
    - Office for Legal Complaints to be created
    Increase Competition
    - “Tesco Law”
    10/2/10
    (c) Michael Scutt 2010
    10
  • Pre- LSA Regulatory Structure
    10/2/10
    (c) Michael Scutt 2010
    11
    DTI
    Department for Constitutional Affairs
    Master of the Rolls
    CIPA
    The Law Society
    Bar Council
    ILEX
    CLC
    Higher Judiciary
    Legal Services Ombudsman
    Legal Services Complaints Commissioner
    Archbishop of Canterbury
    Faculty Office
  • Regulatory Structure
    10/2/10
    (c) Michael Scutt 2010
    12
    Legal Services Board
    SRA
    BSB
    ILEX
    CLC
    CIPA
    Faculty Office
  • Regulatory Structure
    Eight Regulatory Objectives LSA 2007 s.1(1)
    Five Professional Principles – s.1(3)
    Six Reserved Legal Activities – Part 3 s.12
    Only authorised persons or exempt persons may carry on reserved legal activities
    10/2/10
    (c) Michael Scutt 2010
    13
  • Regulatory Structure cont’d
    A person who holds a practising certificate from one regulator will be governed as well by regulator of his employer
    Non-lawyers managing or working in a regulated entity will be governed by the relevant regulator
    10/2/10
    (c) Michael Scutt 2010
    14
  • Reform of Complaints Procedures
    10/2/10
    (c) Michael Scutt 2010
    15
  • Reform of Complaints Procedures
    Legal Services Complaints Commissioner – abolished
    Legal Services Ombudsman – abolished
    Office for Legal Complaints created – in force by late 2010 – single body for all legal complaints
    OLC – creates the Legal Ombudsman to deal with complaints NOT misconduct
    10/2/10
    (c) Michael Scutt 2010
    16
  • Increase Competition
    10/2/10
    (c) Michael Scutt 2010
    17
  • New Ways to do Legal Business
    Legal Disciplinary Partnerships (LDPs)
    Allows mixed lawyers and non-lawyers to own and manage a law firm
    But, up to 75% of owners/managers must be qualified lawyers and hold at least 75% of shares and voting rights
    10/2/10
    (c) Michael Scutt 2010
    18
  • More on LDPs
    SRA has to approve non-lawyer members
    In existence since 30th March 2009
    Will become ABSs from 2011
    10/2/10
    (c) Michael Scutt 2010
    19
  • Alternative Business Structures
    Allowed from 2011
    A “Licensable Body” is one that carries on reserved legal activities and a non-authorised person is a manager of the body or has an interest in it
    At least one manager must be an authorised person (member, director, partner)
    Every Body will need a Head of Legal Practice and Head of Finance
    10/2/10
    (c) Michael Scutt 2010
    20
  • Alternative Business Structures (cont’d)
    The ABS must carry on a licensed activity through a person authorised to carry on those services
    10/2/10
    (c) Michael Scutt 2010
    21
  • Tesco Law
    10/2/10
    (c) Michael Scutt 2010
    22
  • Tesco Law (2)
    Opportunity or threat?
    Threat? High Street wipe-out in face of powerful brands that people “know” – faster service, efficiency, response - but see later
    Opportunity? External investment may be a good thing
    10/2/10
    (c) Michael Scutt 2010
    23
  • Tesco Law (3)
    Commoditised Services at risk – Wills/Conveyancing/Personal injury/Compromise Agreements in employment law/ET proceedings? Co-Op Legal Services
    Will Tesco law appeal to client SMEs? cf Peninsula in ET proceedings
     
    Will Tesco be interested in potentially costly and lengthy court proceedings, e.g. family proceedings/care/social welfare – where no cost orders likely at the end of the day?
    The LAG is worried that this area might be completely neglected – suggests partnerships between law firms and CABx.
     
    10/2/10
    (c) Michael Scutt 2010
    24
  • But ...
    See the ComRes poll commissioned by the SRA – 1014 respondents, May 2009
    69% of people said they would be concerned about the quality of service offered by banks/supermarkets
    83% of people had a positive experience of solicitors, up from 65% the previous year.
    10/2/10
    (c) Michael Scutt 2010
    25
  • Perhaps ...
    Clients buy people - especially where there is any emotional involvement for them – e.g. litigation/family proceedings/employment.
    Traditional solicitors may struggle where they rely on conveyancing and wills.
    10/2/10
    (c) Michael Scutt 2010
    26
  • How to avoid meltdown
    Build relationships w. clients and other suppliers
    Marketing – social media/word of mouth – raising profile – demonstrate excellence
    Cross selling of services; wills to conveyancing/newly divorced clients
    10/2/10
    (c) Michael Scutt 2010
    27
  • How to avoid meltdown (2)
    Quality not Quantity
    How do you demonstrate value?
    The end of GPs?
    Do you need a secretary?
    Effective use of social media
    10/2/10
    (c) Michael Scutt 2010
    28
  • Social Media
    Web 2.0 – what is it?
    Not just websites
    Blogs – www.michaelscutt.co.uk
    Online Communities –
    Social Media Strategy
    Ideal way to get “out there”
    29/10/2009
    (c) Michael Scutt 2009
    29
  • Don’t Panic!
    10/2/10
    (c) Michael Scutt 2010
    30
  • Combating Tesco Law
    Michael Scutt
    Dale Langley & Co
    60 Lombard Street, London EC3V 9EA
    michaelscutt@dalelangley.co.uk
    Blog = michaelscutt.co.uk
    @michaelscutt
    10/2/10
    (c) Michael Scutt 2010
    31
  • Strategic Marketing
    2nd March 2010
    • Yvette Elkana – Managing Director
  • Strategic Marketing – Key Steps
    Let’s see where we are starting from?
    SWOT & The 4 P’s
    What can I do tomorrow?
    Just a thought
  • What is marketing?
    “Marketing is so basic that it cannot be considered a separate function ... It is the whole business seen from the point of view of the final result, that is from the customer’s point of view.” – Peter Drucker
    All departments should be externally-oriented
    The ultimate goal is to provide services profitably for your chosen customers
  • Strategic Marketing
  • Vision
    Where are we going?
    What difference will we make?
    How do we want to be remembered?
    In what ways will we change things for the better?
    Is this vision relevant and good and desired by the customers and staff and stakeholders?
    Is it realistic and achievable?
    Have we involved staff and customers in defining our vision?
    Is it written down and published and understood?
    The Vision is the stage of planning when the organisation states its relationship with its market-place, customers, or users. The Vision can also include references to staff, suppliers, 'stakeholders' and all others affected by the organisation.
    Dependent on values and philosophy
  • Example Vision Statements
    Linklaters
    Epoq
  • Mission
    How do we describe what we aim to do and be and achieve?
    What is special about what we are and do compared to any other organisation or business unit?
    Do our employees understand and agree with this?
    Do our customers agree that it's what they want?
  • Example Mission Statements
    Linklaters
  • Values
    Ethics, integrity, care and compassion, quality, standards of behaviour - whatever the values are - are they stated and understood and agreed by the staff?
    Do the values resonate with the customers and owners or stakeholders?
    Are they right and good, and things that we feel proud to be associated with?
    Enabled by and dependent on philosophy and leadership.
  • Example Values
    Linklaters
  • Philosophy
    How does the organisation relate to the world? This is deeper than values.
    What is the organisation's purpose? If it is exclusively to make money for the shareholders, or to make a few million for the management buyout team when the business is floated, perhaps have a little re-think. Customers and staff are not daft. They will not be comfortable buying into an organisation whose deepest foundation is greed and profit. Profit's fine to an extent, but where does it fit in the wider scheme of things?
    Is it more important than taking care of our people and our customers and the world we live in?
    Does the organisation have a stated philosophy that might inspire people at a deeper level? Dare we aspire to build organisations of truly great worth and value to the world?
    Fundamentally defined by the leadership.
    The stronger our philosophy, the easier it is to build and run a great organisation
  • Example Philosophy Statements
  • Networking Academy
    Volunteerism
    community
    we believe
    belongs to everyone.
    Make Every Connection a Green Connection
    SustainableBusiness Practices
  • Exercise – Mission Statement
    The subject e.g. company
    Competitive positioning – leader, best value, a leading, lowest cost, best quality, most desirable, friendliest, etc.
    Market segments
    Products and/or services
    Staff
    Culture/style/values
    Adjectives to complete the sentence
  • Clear Mission Statements
    Northern Rock is a specialised lending and savings bank which aims to deliver superior value to customers and shareholders through excellent products, efficiency and growth.
    To shape the future of the Internet by creating unprecedented value and opportunity for our customers, employees, investors and ecosystem partners
  • Strategic Marketing
  • Strategic Marketing Planning
  • 4 – SWOT
    Strengths
    Weaknesses
    Exploitation Strategies
    Improvement Strategies
    Opportunities
    Threats
    Investment
    Strategies
    Blocking Strategies
  • Exercise – Do your SWOT
    Strengths
    Weaknesses
    Opportunities
    Threats
  • Marketing strategy involves research and implementation
    The Target Market
    Segmentation
    Marketing mix (also called the 4 P’s)
    Research
    Implementation
    Marketing is NOT just about leaflets, brochures and websites
    Infact 70% of marketing is research, asking people and planning
    51
  • Marketing strategy involves research and implementation
    The Target Market
    Segmentation
    Marketing mix (also called the 4 P’s)
    What market are you in?
    What is the potential market?
    What is the size of the market?
    Who are your competitors? What do they offer and at what prices?
    How do you compare with them? SWOT?
    52
  • The target market needs to be segmented
    The Target Market
    Segmentation
    Marketing mix (also called the 4 P’s)
    A customer segment is a group of buyers who have similar needs and respond to marketing offers in similar ways
    Study your proposed markets and target the appropriate segments
    Each segment has its unique market potential, and will need to have price, product, promotion and place targeted for it.
    53
  • Segmentations have four main categories in consumer marketing
    Socio-
    demographic
    Transactional
    Psychographic
    Lifestyle
    Age
    Gender
    Marital status
    Neighbourhood
    Children
    Education
    Life stage
    Occupation
    What they read?
    How they travel?
    Hobbies
    Sports
    Fashion
    How much they spend with you?
    How often?
    How recently?
    Risk takers
    Safety-first
    Early adopters
    54
  • Segmentations in business to business marketing
    Market sector
    Public or private
    Size of business
    Turnover
    Where they trade
    Expanding or contracting
    Do they make a profit?
    55
  • Teens
    Young Active Fun
    Adult Personal User
    Mature Basic User
    International Business Traveller
    Self-Chooser for Work
    Company Paid
    An example of segmentation in the mobile telecoms marketplace
    56
  • Q: What segmentation can a small business create?
    Segments?
    Lunchtime eaters
    Pre theatre parties
    Late night diners
    Families
    Special occasion customers
    57
  • Exercise: Your market segmentation
    List 4 target segments in your chosen target market
    Your market: _____________________________
    Segment 1: ___________________________________
    Segment 2: ___________________________________
    Segment 3: ___________________________________
    Segment 4: ___________________________________
    58
  • You can use a whole range of sources to research your market
    Primary research is recommended for local or niche marketing
    Phone interviews or face to face
    Written questionnaires. You can do your own online survey free of charge, use www.surveymonkey.com
    Consumer panels / focus groups/observation
    59
  • You can use a whole range of sources to research your market
    Secondary research i.e. research that others have prepared
    Trade associations - see www.taforum.org
    Market Research Firms: research firms, Gallup, Nielsen, Mori
    Government publications (HMSO)
    Internet searches
    Try to avoid paying for market research information. These sources are free:
    Office of national statistics
    www.theneighbourhood.statistics.gov.uk
    British Library: www.bl.uk/bipc/
    www.businesslink.gov.uk
    60
  • Marketing strategy involves research and implementation
    The Target Market
    Segmentation
    Marketing mix ( the 4 P’s)
    What shall we sell? – the Product
    How much should we charge? – the Price
    Where shall we sell it? – the Place
    How do we tell the customer? – the Promotion
    61
  • The great challenge in marketing is to get the 4 Ps right
    Different companies will focus on different parts of the mix
    Promotion
    Price
    Product
    Place
    62
  • The 4 P’s in practice
    Different companies will focus on different parts of the mix (“positioning”)
    Promotion
    Price
    Product
    Place
    63
  • The 4 P’s in practice
    Different companies can coexist in the same marketplace
    Promotion
    Price
    Product
    Marks and Spencer
    BMW
    Rolex
    Primark
    Ford
    Casio
    Place
    64
  • Different companies focus on different parts of the 4 P’s
    Promotion
    Price
    Product
    Amazon
    Tie Rack
    Place
    65
  • Different companies focus on different parts of the 4 P’s
    Promotion
    M&S
    Price
    Product
    Place
    66
  • Different companies focus on different parts of the 4 P’s
    Promotion
    Tesco
    Price
    Product
    Place
    67
  • The first P: The Product (or service)
    Look at the benefits of the product for the customer, not only the features
    Examine quality, design, technical features, branding, packaging, service levels, processes, training
    Tailor this to your segments
    68
  • Emphasising benefits not features
    Features?
    Benefits?
    Features:
    Benefits?
    69
  • Exercise: Your service/ product
    List 4 features of your service and for each one list a benefit for the customer.
    Your Service:_____________________
    Feature 1:___________________
    Feature 2:___________________
    Feature 3: __________________
    Feature4:____________________
    Benefit 1:_________________
    Benefit 2:_________________
    Benefit 3:_________________
    Benefit 4:_________________
    Your core message = the sum of your benefits
    70
  • The Second P: Price
    Not just guess a number
    Factors to consider:
    • Discounts
    • Bundling (or separate pricing)
    • Lump sum or piece rate
    • Rebates/ loyalty scheme
    • Undercutting the competition
    71
  • The 3rd P: Place
    How will your product be distributed?
    Retail
    Internet/ home shopping
    Remote or face to face
    Brokers
    Can you give a choice?
    72
  • The 4th P: Promotion
    Radio/ TV adverts
    Exhibitions/shows
    Cost
    Sales people
    Brochures
    Direct mail
    Online
    Emails
    social media
    PR
    Ease
    73
  • The Promotion – how do you choose the correct channel?
    Radio/ TV adverts,
    Exhibitions/shows
    Cost
    Sales people
    Brochures
    Direct mail
    Online
    Emails
    social media
    PR
    Ease
    74
  • The Promotion – how do you choose the correct channel?
    Evaluate them on Cost per sale:
    • e.g. A radio ad may reach 200,000 people and generate 20 sales but costs £2,000 = £100 per sale
    • An email campaign may reach 5,000 people and generate 10 sales, but costs £100 for campaign = £10 per sale
    Evaluate your channels on cost per response and conversion: test, and roll out
    75
  • Direct Mail
    2% response = very successful, less than 1% is the norm. Need to understand your breakeven point
    You can rent names and addresses for a one off use (£200 per 000 names)
    Keep track of your customer contacts
    using a CRM package or use Access database
    76
  • Brochures /newsletters
    Look at other people's materials, the basis of design should be: attention- interest- desire- action.
    Distribution options
    Stick to standard sizes
    Remember Royal Mail pricing
     
     
     
    Direct Mail  
     
    Door to Door
    Inserts
    High volume with magazines or post office
    Response lower than Direct Mail
    77
  • Email campaigns
    One subject one email
    Heading should be eye catching but appropriate
    Sentences should be shorter than any other document
    Use simple formatting
    Always write at the top: “if you cannot read this email click here” and provide a link to a webpage
    Send out midweek
    Test before sending and check spelling
    Must allow opt out
    Not too often
    e.g. http://www.dotmailer.co.uk/ - Online service
    Design and the copy (text)
    Sending out
    Capability
     
     
     
    78
  • Websites
    All businesses should have a web presence
    Don’t use free webhosting as they will add adverts
    If you have budget use a SEO consultant
    Look like an authority (see social media section):
    79
  • Search Engine Optimisation – making your website more visible
    organic
    paid
    versus
    Doing things to your own website that makes it more visible
    Paying an advertiser
    Search Google for your service in your area and related search terms.
    Your business should be in the online directories that appear in the listings
    80
  • Press releases are a good source of free publicity
    Get your editorial printed for free
    Local papers need local community stories
    Guidelines:
    Faxes preferred
    A good photo helps
    Journalists will alter your text
    Push your case (newspapers prefer agencies)
    Surveys are excellent material
    81
  • Social media marketing – why is it important?
    Traditional media:
    Direct mail
    Phone calls
    Leaflets
    TV and radio Adverts
    Emails
    New media:
    Search engine optimisation
    Blogging
    Social media
    RSS
    Free tools
    Viral videos
    NON-INTERRUPTIVE
    INTERRUPTIVE
    82
  • A few thoughts ... Where has this happened before?
    The retail banking & finance institutions took the lead in segmenting their market for credit card sales:
    Identify the 20% of clients that generate 80% of profit
    Create 3 different versions of the same product differentiated by the level of service provided, cost, value added services, etc. (e.g. silver, gold, platinum) and cross sell
    Offer platinum product to the preferential high net worth 20% and make it really easy for them to get it
    Offer Silver to 80% of the market with incentive to get the Gold
    Manage risk with fast credit checking service
  • Then things got out of hand
    Reduce processing costs
    Use off-shore call centres and internet to sell and service
    Automate processing using technology
    Mass marketing to grab market share – even overseas
    Offer interest free transfers to get more market share
    Forget the risk – lend to those who are already over committed for more market share
    Crash & Burn .... Total UK credit card debt in December 2009 was £54.5bn..
    It was a great marketing strategy when it started.
    That would never happen in the legal sector ... Would it?
  • Commoditisation at Eversheds
    Bulk work model
    80% of this work will go to South Africa
    20% will stay in Cardiff
    It is being suggested that they rename these products or even this part of the business so they don’t damage brand perception
  • Digital Media
    Neil Ramsorrun
  • Consumer behaviour online
  • Is it New or Widely Used by Organisations?
  • Digital growth forecast
  • How effective is your website?
    Does it reflect your brand identity?
    Does it engage your audiences?
    Easy to update?
    Linked in with digital marketing – social media, email campaigns?
    Well ranked on search engines?
  • landlordlaw.co.uk
  • landlordlaw.co.uk
  • landlordlaw.co.uk
    Fully integrated digital media campaign
    Use of newsletters, polls, blog
    Facebook channel
    Twitter channel
    Linkedin channel
    Excellent Google ranking (1th result when you search for “landlord law london”)
  • Content management system
    Allows you to update your site whenever you like, change/add new pages and content
    What You See Is What You Get (WYSIWYG) editor, anyone can use
    Can build bespoke systems or use open source platforms, depending on your needs
    Whole site can be built to interact with other software – CRM, ecommerce, blog
  • Content management systems
  • Content management system
  • Content management system
  • CRM
    Client Relationship Management
    A database of your contacts used on and off line
    Helps set up effective processes
    Gives your organisation a 360 degree view of their many relationships
    CRM assists, tracks and reports on efforts
    Sales, marketing, support, service
  • Promotional strategies
  • 1. Email marketing
    Now used in higher volumes than direct mail
    Impressive potential return on investment: US Direct Marketing Association estimates $48.56 for every dollar spent
    What makes a good email marketing campaign? 42% of email companies say targeting, 33% say offers, 25% say creative
  • Email marketing - newsletters
    Keep your contacts up to date with your news, offers and latest work
    HTML branded emails with imagery and links to your website
    Use CRM software to send emails in bulk and then track results
    Include signup form on website to build up your following
  • 1. Email marketing
  • Email marketing – business development
    Target specific audience groups
    Create 12 month campaign calendar emailing each audience every 2 months
    Promote new case studies, product offerings to that sector etc
    Tailor email to specific sector, sending them only relevant content
  • Email marketing Reporting
    Good email marketing solutions give good reports
    GM newsletters 3,500 sent each month
    18% Opened
    Of opened 30% click through rate
    Latest Sales campaign – Construction
    175 sent, 29 viewed, 22 click through, 5 opted out, 6 leads
  • 2. Social Media
    “Word cloud” showing some key elements of social media
    www.wordle.com
  • Social Media - What is it?
    A global online conversation
    A marriage of content and community
    Building your business through grassroots networks
    Building a community around a conversation
    Power to the people - Putting the consumer in control of content and broadcasting
  • Social Media Tools
    Blogging
    RSS Feeds
    Social Networks (eg Facebook, Bebo, Myspace)
    Podcasting/vodcasting
    Wikis
    Social Bookmarking (eg Delicious, Digg)
    Photo/video-sharing (eg Flickr, YouTube)
    Forums/message boards/groups
  • Social Media Statistics
    Over 10 million Facebook users in the UK
    UK social network membership predicted to rise to 27 million by 2012
    184 million bloggers worldwide
    215 million people downloading podcasts
    184 million people uploading videos
    36% of online users think more positively about companies who run their own blog
    successful viral films seen by hundreds of millions of viewers (Star Wars Kid = 900 million views)
  • Social Media Statistics
    Top 15 most viewed sites in the UK, November 2009 – 9 out of 20 are social media sites
  • A company blog?
    Gives you chance to show the personality of your organisation and to give expert advice
    Cheap to set up and maintain, using open source software – WordPress, Blogger
    Easy to update
    Allows people to follow what you’re up to and engage with you
    Helps search engine rankings
    Linkable between other social media channels
  • Blogging
  • Micro Blogging (Twitter)
  • Gateway Media Twitter
    New contacts, promotion, show your personality!
    Follow Gateway Media - http://twitter.com/GatewayMedia
  • Twitter Tips
    • Retweeting – Encourage your follows to retweet your links. Retweeting pushes your @username into foreign social graphs, resulting in clicks back.
    • Bio - Fill out your bio. Your latest tweets don’t mean much to someone that doesn’t know you. Your bio is the only place you have to tell people who you are.
    • Links - Put links to your Twitter profile everywhere, in presentations, business cards, figure out a way to broadcast or display your twitter account.
    • Stalk - Follow top twitter users, watch what they tweet.
    • Content – Pictures (twitpic.com) and Links (tinyurl.com) spread fast
  • Social networks
    Facebook – Gateway Media Page
    www.facebook.com/home.php?#/pages/Gateway-Media/57458409109
    LinkedIn – Gateway Media Group www.linkedin.com/groups?gid=1893207
  • Linked In
    • Make your personal profile client focused - Treat it like your introduction at a networking meeting
    • The most powerful use of Linkedin is to find new clients and business partners through the search function and Groups.
    • Choose a Lion (adding everyone) or a “Trusted Partner” (adding few) approach
    • Join Groups and participate in discussions
  • Tone of Voice (ToV)
    • a writing guide that helps you reflect the core values of your company or its brand.
    • How will you sound online?
    • “define” your writing style to ensure consistent approach to posting
    • Do you want to be seen as “personal”, “friendly”, “trustworthy”, “objective”, “expert”, “dynamic”, “energetic”
  • Interesting Content
    • What is Viral content?
    • Find interesting ways to deliver your key messages, try new approaches.
    • The videos we produce are used across many media channels. From social networks to meetings and presentations like this. Video Podcasting is a very low cost way of doing this.
    • Animation
    • Photos
  • Photo/video sharing
    YouTube Channel http://www.youtube.com/user/gatewaymedialondon
    Flickr.com
  • 3. Pay per click
    PAID search results
    ORGANIC or NATURAL search results
  • Pay per click
    Organic search can take a long time to get right
    Paid search gets you straight to the top of the search results
    Flexible budgets – can start a trial campaign in 5mins with a £1.00 budget
    Low set up costs and maintenance – initial consultancy to set campaign up then you can run it yourself
    Fully trackable so you can calculate ROI
  • Summary
    Who are you talking to?
  • Where are you talking to them?
  • How are you talking to them?
  • What are you saying?
    Business Speak
    This is my journey
    Or Both
    Are you telling a story?
  • Media Matrix
    This media matrix will help to focus the strategic objectives and tactical activities of your digital media campaign.
  • Q&A
    How can digital help you?
  • Contact
    simon.baker@gateway-media.co.uk
    yvette.elkana@gateway-media.co.uk
    neil.ramsorrun@gateway-media.co.uk
    michaelscutt@dalelangley.co.uk
    www.gateway-media.co.uk
  • Feedback
    Thanks for attending, your feedback would be greatly appreciated