Clients have needs for legal counsel. Attorneys have solutions. Seems like a simple enough formula to reel in new business – except when it’s not. What happens when target prospects don’t have any readily identifiable needs? Introducing “wisdom selling,” the next evolution of selling, according to Akina partner Deborah Knupp who presented at the LMA Midwest at Chicago luncheon on February 20, 2014.
In her presentation “Beyond Solutions: Win with Wisdom Selling,” Knupp explained how to uncover needs, use the sales process as a relationship-building tool and close the deal. “Sales pitches can actually be brand-building events, even if the other side doesn’t hire you,” Knupp said.
Selling on skill set and experience is no longer a golden ticket to new business, especially during a time when client loyalty is being tested. “Clients are expecting that you’re smart and good at what you do,” Knupp said. “Quality and technical expertise are table stakes.”
However, in the current business climate where in-house counsel, CFOs and other executives have more pressure than ever to “get it right,” attorneys really have the chance to shine through wisdom selling, Knupp said.
Two main components of wisdom selling are knowing your prospect’s business and “lawsulting,”a blend of business consulting and legal advising.
“Know My Business”
It’s a phrase heard often in legal marketing, but what does “Know my business” actually mean? Knupp offered three layers of how to really know a client’s business.
- Basic hygiene – Understand clients’ language and metrics, performance drivers, key industry trends and business climates.
- Insight – Understand how clients can capture opportunity in the current market environment; know their customers and competitors and their implications.
- Wisdom – Integrate and analyze your knowledge in a manner that has not yet occurred to clients. Your goal is to help them “dream out loud” to innovate and invent new opportunities.
“Lawsulting”
Once you know your clients’ business, you are ready to start lawsulting, a blend of expert consulting (to challenge and provoke) and process consulting (to facilitate and engage). This involves packaging and sharing critical insights, knowledge and wisdom to generate new business leads and motivate clients to take action.
“Lawsulting doesn’t work unless you’re deeply committed to knowing your client,” Knupp said. Wisdom selling gives lawyers and firms a tangible way to accelerate revenue, build a sales pipeline and develop authentic client relationships that out-behave the competition.