Nearly every law firm believes it's important to make each pitch document unique, yet most fail to do so, most of the time. Claire Nash of Enable - which provides software solutions for professional services - addresses the challenges... and the opportunities.
When Enable conducted a pitch management survey last year we sought to understand the key challenges business development (BD) professionals face when generating pitch documents.
Time and resource restraints
One theme became clear amongst the 46 respondent firms, all of which represent the 100 largest law firms operating in the UK by revenue - each firm is aiming to create a bespoke offering that is concise cogent and compelling. The only problem is that they have to do that hundreds, sometimes thousands of times a year, often at short notice.
Most firms with revenue of less than £200m are producing up to one pitch document a day. The biggest firms are producing one every 15-minutes.
Because effective time management is imperative, BD productivity can also appear to deviate significantly. The most common number of pitch documents produced by individual BD professionals is up to 40 a year, or just under one a week. However, here are four firms with each team member involved in at least 80 pitch documents a year.
And it's not only the increase in the umber of pitch documents being created that 65 per cent of respondents firms are experiencing, other challenges include getting partner input into the process of substantively tailoring pitch documents; managing a library of content and experience, and incorporating info-graphics and other visually interesting content into pitch materials.
To read the full PSMG article, please click here.
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