Law Firm Bid Support
Law Firm Bid Support. Law firms, and other providers in the legal marketplace, will be all too aware that in recent years the market has evolved at an ever-increasing pace. Clients in the private sector (and, increasingly, the public sector) have become progressively more sophisticated. The choices of provider are multiplying on an almost monthly basis, and more legal technologies are emerging all the time. A greater volume of legal services is being bundled up as ‘commoditised work’ and clients are, not surprisingly, looking at different ways of working. They are wanting to work with law firms who will support, not hinder, them on that journey.
Procurement teams have been on the rise for years and are now used for almost every large legal panel review in both the private and public sector. Time-consuming, expensive and fiercely competitive procurement processes are now the order of the day. Law firms need to understand these processes in order to make their services stand out in a crowded market.
Since 2005 I have assessed over 250 tenders from law firms (Magic Circle to global to boutique to regional) and seen over 50 presentations. In 2010, a firm whose tender I had rejected in a previous role contacted me and asked if I could help them with a bid they were working on, and so it started. I gave my ‘client’s eyes’ to the firm and revised their bid to reflect what I – the client – would want to see.
Since 2017, I have advised firms and companies bidding for work with an almost 100% success rate. I am likely to focus on the ‘quality’ criteria in the bid, as that is where I can add the most value. I will, however, also ‘probe’ you on your pricing proposal to make sure you have considered every possibility, whilst leaving the ultimate bid price in your hands. My most recent successes are:
- November 2017 – large private sector legal panel, multi £million contract
- April 2018 – large private sector legal panel, multi £million contract
- May 2018 – £1m+ Legal Aid contract
- September 2018 – legal technology public sector contract worth £10m
- October 2018 – public sector multi £million contracts x 2 (different firms bidding for different geographical areas)
- October 2019 – public sector multi £million contract
Law Firm Bid Support – Where can I help?
- Tender process review – what do you do now and how can it be improved?
- Bid workshop – a kick off meeting to discuss how to approach a new opportunity
- Tender writing – from the whole document to specific sections
- Tender editing – as above
- Pitch preparation and support
- Training your BD/marketing teams, finance colleagues, partners and lawyers on how to write successful bids – including questions such as:
- What do procurement and/or legal operations teams do?
- How does procurement link in with the legal and finance teams?
- How to best deal with procurement teams
- How to prepare for and write winning bids
- How to prepare for and ‘wow’ at pitches
- How to price like an innovative, progressive firm
- Value-added services – what’s current, what’s old, what’s coming?
- Panel appointments – how to keep the relationship fresh, MI and honest conversations
- A session on ‘the client’s perspective’ with partners/law firm management, should you wish this message to really hit home.
Training can be tailored to your individual requirements. I also very much welcome live Q&A sessions where practical examples can be discussed.
Legal Aid providers should also read: Legal Aid Providers – Bid and Pitch Support
Law firms moving into the consultancy area, perhaps looking at how they could help In-House teams become more effective, should read: In-House Legal Teams – Operational Support