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Ancillary Business and Differentiation |
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Problem: A law firm wanted to expand its practice into an ancillary business. The attorneys had particular subject matter expertise and had developed a value-added product that could be delivered at a lower price and more quickly than the products on the market. Our client needed a way to enter the market and to present its product to target companies, even if they were clients of other law firms.
Solution: We collaborated with our client to create a profile of companies most likely to benefit from its product, and identified the in-house lawyers most likely to be decision-makers or influencers. At the same time, we designed a survey to assess selling points and conducted telephone interviews with 15 primary sales targets. The findings were compiled, analyzed and reported to our client.
Result: The research provided valuable information to the firm's marketing director to prepare a sales position for use in business and create marketing materials that would emphasize the attributes of the product that would most influence a buying decision as well as differentiate the new product from the firm's traditional legal services.
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