We interview prospective clients a lot. One of the ways we do it is by interviewing Managing Partners of law firms on The Managing Partners Podcast here at Array Digital. In this episode, Erik shares the benefits of interviewing prospective clients.
Erik J. Olson: (00:01)
The benefit of interviewing prospective clients, what is happening? I am Erik J. Olson, your host of this episode of the Journey to $100 Million. So yeah, we interview prospective clients a lot. Uh, there’s a couple different ways that we do it. One is like, literally interview them on our podcast. Uh, here at Array Digital, we have a podcast called The Managing Partners Podcast where we interview managing partners of law firms, ones that we would like to work with ones that we would like for them to be our clients. And during the podcast we ask. Yeah, just questions about running. Uh, the law firm lessons learned, uh, their history and, uh, we asked ’em a couple of basic marketing questions. Like, what do y’all do for this? What do you do for that? And really the point of that is, uh, uh, several, uh, one is to establish that we have a lot of relationships in the law firm
Erik J. Olson: (00:54)
community two is to get our name out there. Three is to get introduced to these managing partners, the ones that make decisions, uh, and four is business development, right? So, and, and actually five thought leadership, right? So not just get our name out in the community, but like, we’re the ones that are like leading the charge on this podcast. We’re literally, you know, writing the book, quote that’s air quotes for the podcast. So that’s one way that we interview another way that we interview, which is relatively new, is I have it here, a six page document, and these have interview questions. So when we get a hand razor, which is someone who reaches out to us and says, uh, I’d like to find out more about you guys and possibly work with you. That’s a hand raiser, that’s a warm lead. So things like the podcast, this podcast, these kind of generate attention, right?
Erik J. Olson: (01:43)
Our, our social media, our ads, our SEO, they generate attention. People find out about us. And then at some point they raise their hand by submitting a form, giving us a phone, call something, sending us an email. And they would like to possibly work with us. There’s a whole other process sales process that we go through for that, what I just explained before was marketing. Then we enter into sales. So we have a sales interview tool, which is this sheet right here. And it has all sorts of questions that, uh, to, we need to find out the answers, right? So like, like here, here’s, I’m just gonna kind of like look at at this and, and just say a couple of things or, or read a couple of them and see what you think about this. Uh, how are you handling your marketing? It’s pretty obvious question.
Erik J. Olson: (02:25)
Right. But if I don’t know the answer to that, like, I can’t really help them that much. What are the top two to three challenges you face in your business? Not in marketing, just in your business now, uh, let’s see here. Uh, what are you doing to achieve your financial goals for next month? Now? Most people, they have, uh, a financial goal, like a big goal, like, uh, like we wanna be a hundred million dollars, uh, by 2030, but that’s such a big number. And it’s so far away time wise. Like I could do nothing for the next month and, and not feel like I’m missing the mark, but if I have a goal
Speaker 2: (02:58)
For next month, then, then I better be working on it right now. And a lot of times people don’t, they don’t have a, they don’t have, they haven’t, they haven’t crystallized what they need to do now in order to achieve a small little increment next month, nevermind the big goal. And then we look into problems. What problems are you guys having? How much does that cost to you? How long has that been going on? Oh, so this is a million dollar problem. Huh? If you can get help with this million dollar problem, would you be interested in getting it right? We asked all sorts of questions like that. This is literally at this point, a full five page interview document. Uh, it works. I ran through it with, um, with the prospective client yesterday and he’s begging for proposal. So when you get a hold of something like this, like a, a format for something like getting attention, like with the podcast or a format for, uh, business development, sales, like you should really, it have the belief and the mindset that it’s going to work for you and then engage and exercise and do those things.
Speaker 2: (04:04)
And that’s exactly what we’ve done with the podcast. That’s exactly what we’ve done with moving into law firm marketing. That’s exactly what we’ve done with this interview sales interview tool. The sheet that I was just talking about mindset is incredibly powerful and it could be whatever you want it to be. So like you could, you could, you could believe that you’re a loser. You could believe that you’re a winner and, and whatever you believe is right. And whatever you believe you’ll manifest. So, uh, I, I would hope that you would opt to believe that you’re a winner and that you can do something like start a podcast. You can do something like ask these tough questions, right? Ask the tough questions. How much money do you make every year? Right. Ask that question. Right? Most people won’t ask that question. They won’t even ask what the revenue is for a company, but how much money do you make a year?
Speaker 2: (04:53)
Can you imagine asking a prospect that that’s pretty relevant? Cuz what if I could increase your revenue by 50%? What would that mean to you? What would that mean to your business, to your family? So if, if, if you’re a business owner and I’m pitching you, right, I’m talking to you about doing digital marketing and you’re, revenue’s $5 million. And I say, Hey, um, if I could double your revenue to 10 million, what would that mean for you? I’ll tell you, I know the answer, but I wanna have them tell me the answer is most businesses make between 10 and 20% profit. So if I can get you another $5 million of revenue and you’re the business owner, and especially if you’re the sole business owner, 10 to 20% of that is gonna go either back into the company. So it grows faster or in your own pocket. And it’s usually a mix of that. So let’s say it’s 10%, 5 million times, 10%, that’s $500,000. So by buying my digital marketing solution that I recommend I can get, you know, the $500,000 in your pocket and increase the revenue of your business by 5 million,
Speaker 3: (05:57)
Which increases the value of your business dramatically. And it will only cost you X, right? That’s the sales pitch. That’s what we’re setting up for. So I share all that with you because number one is right here in front of me and we’re doing it. But two, uh, I think it’s a really good idea to think about your marketing, your advertising and, uh, your entire business development process, and always think about it and tweak it and keep exercising and tweak it and try it again and tweak it and try it again. It’s a never ending process. You wanna document it as much as you can. You wanna exercise as much as you can and you wanna believe in it as much as you can.