Directories and Awards a Waste of Time? That Depends
Lately, I’ve noticed a lot of people criticising awards and directories. Some of these critics argue awards and directories are pointless. That if you invested the same time and energy into client relationships, you’d see a much better return on your marketing dollar. Others say directories and awards serve no real purpose other than to feed a professional’s vanity - that clients really couldn’t care.
So are they right? Well, a bit. But they’re also wrong too. And when they’re wrong, I think they’re very wrong.
Not All Awards and Directories Are Created Equal
The truth is that some awards and directories are worth it; others aren’t. At one end of the spectrum, you have those awards where everyone gets a prize (so long as they hand over $10,000, of course). At the other end of the spectrum, you have those that have serious credibility, like, say, Doyles does for lawyers and law firms.
A lot of sophisticated clients know which awards and directories matter and which don’t. If you’re in Doyles listed as “Preeminent” or “Leading” or “Recommended” that counts for your reputation and potentially your bottom line. A couple of years ago I asked 71 General Counsel from ASX Top 200, Government, and Large Private Companies how they would verify a specialist who had been recommended to them - a quick check of Doyles was in the Top 5 responses.
On the other hand, if you get a listing on a made-up pay-per-award website with a URL like australias-best-lawyers.com, everyone sees through it.
The reality is that most awards and directories sit somewhere between these two extremes. And when you get it right, they can be gold. Here’s why.
1. Awards and directories can be a handy proof point.
Whenever we spend money, many of us want validation we’re spending it wisely. And the more we spend, the more validation we tend to want. The right awards and directories can be external and independent proof that you actually know what you’re doing - and that even your peers agree. This can be especially handy in areas where people have little outside knowledge. It can also be handy for existing clients, who like to know they’re investing their current spend well. And, when you apply to be part of different tenders and schemes, you may have to include them as a matter of course.
2. They can help people find you.
There’s been lots of change in the professional services market. Practices have been merging and franchises have been swapping. Some firms have been disappearing or changing name. It’s hard enough for those in the industry to keep track of all this. So imagine what it’s like for a client!
I have CEO’s still tell me their lawyers are Blake Dawson and their auditors are Coopers & Lybrand. The former merged and changed name in 2012, the latter in 1998. This complexity is made worse by the number of professionals moving between firms and the lack of time (and interest) most people have to look into these things. Little wonder then that these days a lot of potential clients look for their advisers online.
Sure, your firm’s content (ie articles and podcasts and so on) and search engine optimisation (SEO) can also direct them your way - and you should be taking advantage of this. However, awards and directories can play an important part in this too. If you don’t believe me, try typing “leading employment lawyer Australia” into Google and see what comes up...
3. They can help shortcut decision making.
Most buyers look for shortcuts to help them make their decision and an award or ranking in a directory can be one of the most useful shortcuts of all. As a professional, it’s easy to get caught up in the process or veracity of these awards listings. The reality is that, so long as the award is a respected one, most clients won’t care how it’s awarded. Just like I don’t care how Marie Clare awards its best beauty product of the year or James Halliday picks his Top 100 Wines of the year, a solid name is enough. It’s like the - now out-of-date - saying that no one ever got sacked for buying IBM. No one ever got sacked for using a professional that recently took out a recognised award.
4. They can help build a narrative.
Very often a buyer won’t buy based on just one thing. They’ll ask around, listen to their referral sources, check out your website, read what you’ve written, hear you speak and even scour reviews and eventually build up a story in their mind. In this sense, an award or directory listing won’t be a magic bullet. But it can be another important chapter in the narrative you’re telling - one that could even provide an important part of the plot.
5. They can help you understand yourself better.
How often do you find the time to actually sit down and put into writing what you’ve achieved over the past year? If you’re like most professionals, the answer is probably never. Writing an award or directory submission can force you to spend time crystallising in your own mind what you’ve done well, special skills you have and why clients should choose you. What you discover about yourself can then underpin all your other marketing efforts. And once you have all that matter information in one place you can use it for your next tender, pitch, capability statement, or case study.
6. They can help others understand you.
At the same time, when you apply for an award, you’ll often have to ask clients to put in writing how you’ve helped them. This can be a great way to have them spell out what they consider to be your strengths and to explain the value that you bring. It can also be a good way to find out how you’re perceived and how closely it matches the way you want to be seen. And, if there’s a divergence between the two, it can let you know what you need to work on.
7. They don’t have to be an ‘All or Nothing’ thing.
Finally, it’s worth remembering that your business development efforts should be focused, they shouldn’t just revolve around one activity. The best BD plans encompass many things - from client listening to article writing and from social engagements to, yep, awards. When people say you’d be better off investing all your time in one activity, I think they’re being too simplistic. There’s not necessarily a trade-off here at all. So why create one?
The reality is that awards and directories can serve a purpose. Just don’t spend all your time and effort worrying about them. Be selective about the ones you choose to apply for or participate in and don’t bother about the ones people can see through.
And, most importantly, it’s up to you to make sure they’re not a waste of time.
8. The big ‘but’ …
Okay, I do confess to having reservations about Directory listings. So, if you’re bleary-eyed from pulling an all-nighters on submissions or you’ve literally had the directory book thrown at you, don’t bite my head off just yet.
Sometimes they can create too big an imposition on you and, more importantly, on your clients and experts.
It’s bad enough when they expect you to complete a submission template that runs to nearly 20 pages. But to expect your clients and contacts to spend precious time verifying on your behalf – well, that’s going beyond the pale, especially in the current climate.
If your firm hasn’t seen enough of a return on its investment in Directories like Chambers or Legal 500 then 2020 is the perfect year to break the habit. If ever there was a time to take a breather and put Directories on furlough then this is it. Some big-name Firms have pulled the pin, so you won’t be Robinson Crusoe, and before you know it you’ll be considering the 2021 listings in a whole new light.
Want more?
As always, if you’d like to know more, get in touch.
Sue-Ella is the Principal of Prodonovich Advisory, a business dedicated to helping professional services firms with Business Development. She assists firms that focus on positive client relationships and individuals who want personal, intelligent support.
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