What is marketing and business development?

Unlike the sales cycle for consumer products, purchasers of legal services often have a higher level of involvement and the process is longer. Luckily we do have a fairly clear map. The map includes three disciplines – marketing, business development and client development. These three disciplines are separate, yet inter-dependent in the sales cycle. The slide deck below explains the difference. This clever illustration, first found unattributed in Reader’s Digest magazine, should help you remember all three disciplines as you work to develop a client and, once landed, grow that hard-earned relationship. You will see how advertising, promotion, public relations, and publicity each play a role in sales.

What’s the big difference between marketing and business development?

It may make it easier to plan your strategy when you consider this:

  • Marketing is about influencing opinions and attitudes.
  • Business development is influencing and encouraging actions.
  • Client development is the retention, expansion and growth of revenues derived from an existing relationship.

Your objective is to keep your services in the minds of the client and stimulate demand for them.

  • Marketing sets the stage, or prepares the ground for planting seed.
  • Business development creates connection with the audience, or plants the seed.
  • Client development nurtures and promotes seed growth.
 With that introduction, I turn it over to this…enjoy! Feel free to use this for educational purposes. And, I would appreciate the credit.

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