The one-on-one meeting with a prospective client is the most effective method to bring in valuation business, according to a recent survey. Three of the five marketing techniques most cited all involve face-to-face interaction with prospects or referral sources. Those techniques are: one-on-one meetings with prospective clients (cited by 58% of survey respondents), public speaking (44%), and joining business organizations such as associations, committees, and boards (37%). Rounding out the top five are: cross-marketing to existing clients (40%) and updating the marketing website (36%). The survey and analysis is in the BVR Firm Economics & Best Practices Guide, 2019-2020 edition, which is based on responses from over 160 business valuation, forensic, and litigation support (BVFLS) firms collected during September 2018 and October 2018. The guide presents a thorough analysis of best practices in financial management, marketing, human resources, compensation, and professional and ownership standards. Data on over 330 BVFLS firm owners/partners and over 1,200 professional staff are included in the management and compensation sections.
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