A key component of a partnership business case is the 12-month marketing and business development plan. This is where you set out exactly what you will do, in terms of marketing and business development, to achieve the promise of your partnership business case. In this article, I explore what should be included in the 12-month marketing and business development plan section of your partnership business case.
Partnership Business Case: The 12-month marketing and business development plan
Taken from Poised for partnership This is your 12-month marketing plan to help you grow your practice to achieve the growth figures you are predicting for your practice. It will contain:
- Key account plans for the clients that you plan to grow materially in the next 12 months. These account plans will identify the opportunity with the client and your activity plan to realise this opportunity.
- Your prospective client list and your activity plan to convert these into clients.
- Your Networking Strategy to strengthen your Referral Networks.
- How you plan to build general awareness of you and what you do in the marketplace.
- Details of any campaigns you plan to run.
Key account plans
If your business case is based upon your ability to expand and defend your key client accounts, then these key account plans are a crucial part of your 12-month marketing plan. Within these plans, consider:
- How to strengthen the firm’s network with the client.
- What are the opportunities to expand the firm’s remit with the client, and how you plan to do this?
- What will you do to strengthen the ties between you and your client?
Prospective client list
Having a prospect list is not just for professionals from large or boutique firms. Ideally, you need to have some visibility of the key client accounts you want to win and how you are going to do this. This can cut down a large amount of time by stopping you networking with the wrong people.
Networking strategy to strengthen your referral networks
Most accountants, lawyers and consultants will generate at least 80% of their new work via their existing clients and network. In fact, if you sell ‘transactional’ or ‘distressed purchases’ then you will find that 100% of your new business will come via your network. This is why you always see the insolvency practitioners continually ‘marketing’ to their networks so that they remain top of mind. Within your networking strategy you need to consider:
- Who are your well-placed key contacts and how you intend to grow this list?
- How will you deepen your relationship and stay in touch with your referral contacts on a day-to-day basis? This may include relationship plans for your best contacts.
One of our most sought-after courses in our subscriber-only site Progress to Partner is called “How to Build a Cast-Iron Business Case for Partner”. We think it’s a must-have in your arsenal of tools and guidance to help with your career progression. There is also a section on the Partnership Admissions process with guides and recordings to help you find your way through the system. Check it out!
How you plan to build general awareness of you and what you do in the marketplace
When people know you and what you do, it becomes much easier to get opportunities to win work. This is often referred to as ‘building my profile’. This could include:
- Your PR calendar and where you plan to secure coverage and on what subjects.
- Your content plan, which will detail exactly what content you will produce and in what format and where you will share it.
- Your social media activity plan.
- Where and how you plan to network within your marketplace.
Your 12-month marketing plan lays out how you plan to achieve the growth you have outlined for year one of your business plan. For more advice and guidance on how to build a cast-iron business case for partnership buy your copy of Poised for partnership.