Legal Marketing Secrets

Make Your Marketing Strategy Failsafe

A business development strategy is defined as a process that allows one to concentrate on the greatest opportunities to increase revenues and to achieve a sustainable advantage. From my many years of experience in business and law, I have come to the conclusion that most business development strategies fail due to the lack of a “system.”

Do not make this mistake! Make your strategy failsafe by choosing the tactics you want to employ, but also be sure to have a system that keeps you consistently in front of your prospects. Without a system, you’ll flounder for direction and you won’t know what to do next. 

To achieve a failsafe strategy, pick the ideas and tactics that appeal to you and that feel most comfortable. I highly recommend that you limit your choices to just five tactics initially and no more. The reason I suggest only five is because it’s best to keep your client development simple, focused and fun. Once the tactics you choose become second nature to you, you can add in more. But implementing too many at the start will dilute their effectiveness and become overwhelming. 

Your system should concern itself with:

I. a method for visibility and consistency;

II. a method for obtaining data about prospects and getting them into your contact management database; and

III. a fun, easy and organized process to stay in touch and follow-up.
 
The follow-up system you implement should represent a “ladder” approach.  Using the tactics described here, first you may start with a nice to meet you note, then an article, then a call, and so on. This multi-step process is designed to give your prospects a taste of what you have to offer and what it’s like to work with you.

It will inevitably show them how much you care about the issues that are important to them, and that you are consistent, credible and committed to their success.

When they need a lawyer, advice or referral, you’ll be fresh in their mind as someone who has always
been there for them.  That's Priceless.

Do You Really Listen To Your Clients?

Adding to the economic conditions we are experiencing, the business of law is rapidly changing. 

Here a just a sampling of factors currently altering the legal landscape:

 Globalization for low level legal tasks
 Consolidation and the creation of mega firms
 Increased use of request for proposals (RFPs)
 Budgetary caps on fees
 Alternative billing
 Marketing of legal service plans
 De-equitizing law firm partners, closing of firms and layoffs
 Self-help legal guides
 Higher rates of lawyer depression and anxiety

A recent book by David Galbenski entitled “Unbound: How Entrepreneurship is Dramatically Transforming Legal Services Today” highlights the pressure that businesses are feeling and that if lawyers don’t adapt, they may not be around.

There is no doubt you have to be more creative in all that you do; whether its reviewing your cost structure or finding new ways to add value for your clients.  Getting your clients to talk to you about their needs and how they really feel about your services is a good place to start.  I spoke to one firm that set up an “Alternate Billing Committee”…yet they failed to ever invite one of their clients to discuss ideas with them. 

Go figure?

Despite what Richard Susskind predicts in his book…the end of lawyers is not going to happen. 
We have to blame someone for the predicaments we find ourselves in.

What is going to happen is that the lawyers that fail to really listen to their clients
will no longer hear from their clients at all.

What's Your Legal Marketing Message?

A lot of law firm marketing looks and sounds the same. 

What about yours? What's Your message?

When deciding on your message, you need to determine what is your irresistible offer, why people should hire you and what’s in it for them. In other words, what’s the quid pro quo? 

Does your message hit a nerve or pain point? Does it address solutions to those pain points?  Do you know what your really wants and how you're going to give it to them? 

Here are some ideas that will align your uniqueness with your message:

 Your reputation in the field
 Your special talents
 Your singular knowledge and approach
 Your trial skills
 Your mediation or negotiation skills
 Your ability to help a particular industry
 The skills you impart to a particular group of people
 The solutions you bring to a specific problem
 The ongoing references or contacts you can provide
 Your credibility in a particular field of knowledge
 Your personal accomplishments and results
 The client’s intrinsic trust in you
 The long-term results that the client will achieve

Whether it’s by practice, industry, problem, or a particular group of people,  your message is how your clients will view you and it will be the reason they want you as their attorney.  It represents the major advantage or benefit a client gets from hiring you (more pleasure or less pain) combined with an irresistible offer and a powerful experience. It’s targeted and strategic and sets you apart by making your solution the thirst quencher your client is craving. 

Hopefully, it's also fun and enjoyable.

Wow Your Prospect into a Paying Client

Meeting a prospective client for a power lunch or attending a networking event where you know they'll be? 

Congratulations – you’ve got their time and attention. 

Now you need to cement the relationship.  By the end of the lunch, your prospect must be convinced that your firm will be a valuable partner and resource, capable of providing insightful legal counsel.

These days, relying on charm and good table manners, plus the reputation of your firm, isn’t enough. 

You need to prepare for that lunch as if you were going to an interview.  That means doing your homework.   Find out all you can about your prospect and his/her company and industry. 

Have they been in the news lately?  What is the background of senior management?  Who are their competitors?   What’s happening to their customer base?   In other words, what are their pain points and major issues?   And how can your firm solve them better than anyone else?

Don’t have the time or resources to do this or not getting enough quality info from Google...then I suggest you contact Linda Rink, President of Rink Consulting, business research specialists. 

She can be found at 215.546.5863 or www.LindaRink.com. 

Press Kits for Legal Marketing

Since most press or media people will request a press kit, it’s time for you to put one together. A press kit is nothing more than a collection of editorial and promotional materials that are distributed to the media, as well as prospects and clients, which include information about you, your solutions and the reasons you’re “newsworthy”. 

Journalists use these materials to learn about you but a press kit can also be used for many other marketing purposes. When putting a press kit together, it should include a folder with an insert for your business card, client list, testimonials, biographical sketch, prior press releases, professional photo, articles and white papers written by you and may also include case histories, and one page fact sheets. Anything that increases or enhances your credibility should be included in the kit. 

 

So forget about the standard brochure everyone else uses. Press kits are a much more effective marketing tool.

Every Law Firm Employee Should be Marketing

The layoffs and de-equitization won't stop.

It's ugly out there. White & Case recently announced it was laying off 200 associates and 200 staff; Morgan Lewis (55 attorneys and 161 staff); and K&L Gates (36 associates and 79 staff).  White & Case has signaled that partners will soon be showed the door. According to the WSJ Blog,

in a memo circulated today, the firm says it expects to undertake: An evaluation of our partnership, which will result in a reduction in the number of our partners, commensurate with current and anticipated business needs.

In this economy, every employee must become a salesperson. You can't afford to have anyone on staff who isn't doing some marketing effort. Secretaries, associates, paralegals and other support staff should be incented to form and cement relationships with clients, encouraging current clients to refer more, or unearthing new opportunities.  Even receptionists can have a sales attitude. When trained and incented, these people can become solid lead generators.

But how do you turn someone who doesn't have a sales personality into one who seeks out and seizes sales possibilities?

Start by developing a meaningful reward system and give them the knowledge and skills to take the plunge.

Training and rewards is the key.

Black Thursday...Disaster or Opportunity?

Law.com reported that yesterday February 12, 2009, six prominent firms sent more than 700 attorneys and legal staffers packing, in what may well become known as Black Thursday in the legal industry. 

Lessons learned from some of the hundreds of law firm associates who have been dismissed during the past six months, are that jobs are scarce and competition for openings is fierce.

However, some practice areas are still hot in this cold economy especially litigation, bankruptcy, foreclosures, corporate securities and patent proceedings.

I can tell you from running a couple businesses, there are basically two ways to grow.

Either you take market share from competitors or you create a new market.

Adding to certain practice areas may make sense today, but this is not the optimal time to grow new markets.  It's expensive and risky.

However, with so much fear and anxiety in the market, this is an excellent time to take market share away from competitors.

And, the flat out best way to accomplish this is to provide better service. Whether it pertains to billing, added services, or just anticipating clients needs better, this crazy market can represent an unbelievable opportunity for you.

The Phone is Your Best Marketing Tool

The economic situation is very serious.  With layoffs increasing, sales and profits depressed, and global turmoil, it's clear that this deleveraging is going to take some time.  Since you're probably reluctant to spend any serious money on marketing your law practice...why not just pick up the phone?

You don't need fancy software, a flash website or sophisticated equipment to make money. You can do extremely well with a legal pad, your rolodex, and a telephone.  Call your clients, friends, network and everyone you know just to say hello and ask them how they're doing.  Then listen carefully...really carefully and you'll pick up some ideas as to how you can help them in this difficult time.  People are fearful and as a lawyer, it's a perfect time to show you care and are there to help...in any way you can.

While you're at it, update their email and cell number to get them into your electronic database.  No doubt you'll hear something that requires a legal solution.  Then you can provide a solution to them even before they asked.

Your phone and an empathic ear is all you need to market your practice.

Business Development is a Priority to Counter the Downturn

Lawyers and law firms are suffering.  Law firm layoffs, de-equitization of partners, revenues and profits depressed, law firms closing, increased competition, and commoditization of legal services are all putting increased demands and pressures on firms and hitting the profession like never before.  It's clear that law firms are not immune to the current downturn. 

Just a few weeks ago, the Wall Street Journal Law Blog predicted that in 2008 many lawyers will be lucky to meet last year’s revenues.  The 2008 Hildebrandt Client Advisory summed it up accurately when they said: “The competition to win and keep clients is intensifying notwithstanding the downturn”.

Besides costs cutting and other belt tightening measures, the only thing that will help is to be able to continue to get and keep profitable clients.  The lawyers that have a profitable book are not being fired or de-equitized!

It’s difficult to find an instance where someone with a substantial book of business didn’t remain an equity partner and command a high salary, as well as being in total control of the economic events currently taking place.

Make business development a priority for 2009 and see for yourself.

Happy Holidays.

Legal Marketing During The (Recessionary) Holidays

Everyone is being adversely affected by these difficult times.  Whether it's real or being driven by fear, the fact is that for many people the downturn is causing a lot of stress and anxiety.

This holiday season is a perfect time to show how you're concerned about your client. 

So, forget about the boring and traditional holiday cards, and send something warm, yummy, and comforting.  You know what your clients like...just make it memorable. 

And then follow-up with a call...not an email... and ask them how they're doing... and just listen.  You'll get a lot of new ideas on how you can help them and serve them better in the coming year.  That's real marketing.

Happy holidays!