Legal Marketing Secrets

It's Time to Give...and Get Going

The international consulting firm Hildebrandt Baker Robbins just released its 2011 Client Advisory.  The report predicts that law firms will enjoy only modest gains -- "lower single-digit rates" -- in profits per equity partner in the wake of a two-year lull in demand for legal services and that the industry will not be returning to pre-recession revenue levels anytime soon.

At the roughly 182 firms surveyed, the advisory shows, demand for legal services was down by less than 1 percent through the first three quarters of 2010 after dropping by almost 4 percent during all of 2009.  As a result, the author predicts firms need to employ innovative methods of cost cutting and achieving efficiency just to attain modest profitability.  How?  One way, is further reductions in the equity partner ranks.  The dreaded " de-equitization”…a fate worse than death, especially when many of these folks have high mortgages, have kids in college or are caring for aging parents.  That’s why marketing is so important, even for equity partners who are excellent lawyers.

Another article I want to bring to your attention is by my friend and one of the experts in my Expert Audio Series, Stacy Clark. Her excellent article entitled: “20 Free Services Lawyers May Want to Offer to Clients” can be found at: http://www.law.com/jsp/law/sfb/lawArticleSFB.jsp?id=1202478384419&_Free_Services_Lawyers_May_Want_to_Offer_to_Clients

Stacy reminds us that just in any other relationship we have, you have give before you get.

Very good advice.

Legal Marketing and Persistence

The last blog post talked about how limited beliefs will hold you back from marketing and business development success.  As you know, just like everything else in life, the biggest obstacle to success is our own belief systems.

This was brought home to me when I recently spoke to a lawyer who was feeling rejected due to his marketing efforts and a guy I met yesterday at a CLE class who recently lost his job.  Both had made overtures to various prospects and employers but they were not getting any response. 

So rather than continue to feed those prospects with good market data that shows they had the solutions to the prospect’s problems, they stopped following up.  We all suffer from this type of thinking.  (My dating life when I was single is a testament to this.)  No one likes to be rejected and no one wants to be a pain in the ass or appear desperate.

I have a friend who practices health care law and a few years ago he targeted a new health care system that had just consolidated.  He wrote to the General Counsel and got no response. Undaunted, he continued to write and send market based data that would help the General Counsel do his job better and be more successful. This process went on for 2 years without a response, until one day he got a call and was asked to come in to discuss one of the articles he had sent.  The GC admired his persistence and even commented on how his current lawyer failed to advise him of this important information.

He now represents the health care system and his revenues from that particular client are substantial. Moreover, the GC introduced him to other attorneys and business executives in the healthcare field and he was able to generate referrals and new clients.

If you provide prospects with valuable market information, rather than product information about how great you are, people will respond and not feel that you’re annoying or desperate. 

The only question is how much do you want their business and how persistent are you?

 

Legal Marketing and Your Belief System

As we enter 2011, you know it’s a good time to start getting serious about business development.  Before you begin to develop your plan, you might want to take a moment to analysis your belief systems about marketing.

If you believe that marketing is hard, that you don’t have the time, that it’s unprofessional, that you’re not very good at it, or that the competition is just too great, these limiting beliefs will thwart your success.  If you think marketing is sleazy or a waste of time; or you’re too introverted or old/young to get clients, your beliefs will guide your behavior and sabotage your efforts. 

As a lawyer, your mind is programmed to be skeptical and judgmental.  This to will harm your changes of success.  Acknowledge these and other limiting beliefs you may have about marketing and client development and find a way to move threw these to re-program your mind for success.

How? 

By concentrating on the benefits and service you provide.  You may be the best at what you do but it doesn’t do anyone any good if they don’t hear from you.  Express to people how you can help them make money, save them money, provide them peace of mind, help them obtain what they want or enforce their rights...and do it in an emotionally satisfying way. 

People need your help to their legal problems, so get out of your limited beliefs and go help as many people as you can.

 

Depression and Legal Marketing

The National Law Journal recently published a story about lawyers and depression. The stats show that lawyers suffer from depression and alcohol abuse more than any other profession.

Buffalo, N.Y.-based attorney Daniel Lukasik is taking the issue head on with his website http://www.lawyerswithdepression.com/default.asp. He recently completed a documentary, "A Terrible Melancholy: Depression in the Legal Profession," to spread the message that depression is pervasive among lawyers but that it doesn't have to derail legal careers. You can view the trailer at:  http://www.youtube.com/watch?v=CSKpA7c9ETs

It’s all very sad.  But I don’t have to tell you the stress and anxiety levels of doing this job day in and day out, some of which include:

• Feeling chained to your desk - doing tasks you don't like - bored out of your mind
• Trading your precious time for money
• Making a decent living practicing law, but not really free to do the things you want or to handle the cases you enjoy
• Having someone else always telling you what to do and in control of your future
• Being limited in your career track at the firm or concerned about being "de-equitized" because you’re not bringing in the business
• Getting up early in the morning every day, working till late hours and on weekends on transaction or litigation matters you have no interest in, commuting in the cold, dark and obnoxious traffic, stressed out all the time

It’s for these very reasons that I created my products to help lawyers.  

Ultimately, stress and anxiety is caused by a lack of control over your life.  And I truly believe that there is only one thing that will ensure you more control…and that's effective marketing to get and keep more clients.  

It’s may be hard to believe that one little aspect of your business can change your life that much, but let me assure you that marketing boils down to one word. CONTROL! 

And when you’re in control, you have less stress and anxiety.

 

Legal Marketing and the Mid-Term Elections

Well the election is over and the best thing that can be said is that all those obnoxious commercials are gone.  

However, I am going to miss Christine O’Donnell.

While sitting Presidents have usually lost their majority during a mid-term election, especially when the economy stinks, I can’t help but think Obama lost more than usual because of poor marketing.

He failed to sell his achievements and looked weak against the Republican onslaught. He also failed to view the world from the electorate’s point of view.   They were more worried about jobs and the economy…not health care and financial reform.

What does this have to do with marketing your practice? 

A lot.

When you think about successful rainmakers, it’s clear they have a different mindset. They view the world from the client’s point of view. They have patience. They seek first to help or educate, and they don’t immediately expect something in return.  They are empathetic listeners and truly care about the client.

You may think you know what your clients want, but you may be wrong. 

You may waste time giving them memos on unique points of law or stay in contact with them with newsletters that contain complex legalese …which they may find very little use for …thinking to themselves that you’re completely out of touch.

Client development is about serving more clients, solving more problems, and helping more people.

It might be a good idea to ask your clients what they want…that way you won’t be booted out the next time they need a lawyer.

 

Are You Looking to Grow Your Law Practice Through Social Media?

Richard Susskind, the author of the “End of Lawyers? Rethinking the Nature of Legal Services” recently said:  "I don't think it's too late to embrace social networking, it just rather disappoints me that other professions use these technologies, and lawyers for some reason are always rather late to the party. I have little doubt that within five years, social media, social networking systems, will play a central role in the daily lives of lawyers."

The average lawyer is bright, hard working and determined and yet doesn’t have a clue what to make of social media and how to use it professionally to help get and keep more clients. But most know that social networks can provide some outstanding opportunities to build more relationships, become a thought-leader, and go-to expert so clients seek them out.

If you want to learn more, on October 21, myLegal.com is sponsoring “The Case for Social Media: Managing Your Online Presence to Build Your Law Practice.” The conference is the first of its kind and brings together leading experts from all across the country for a one-day event that will equip attorneys with new strategies and ideas to take their business to the next level.

You can see complete details for the event at http://mylegalmedia.com

The End of Legal Marketing?

You can’t go one week without reading about the changes going on in the legal profession.  The recession has forced lawyers to re-examine how they run their careers and how to align with these changes.  While many of the articles discuss “Big Law”, many of the comments apply to all of us.

 

In “The End of Lawyers”, Richard Susskind envisions a radical change to the legal world in which, at least in part, legal services are commoditized, IT renders conventional legal advice redundant, clients and lawyers are collaborators under the one virtual roof, disputes are dominated by technology if not avoided in the first place, and online systems and services compete with lawyers in providing access to the law and to justice.

In “Life Without Lawyers”, Philip Howard argues that too much law suffocates rather than protects, and restricts rather than safeguards our freedoms. He argues that America's current climate of litigation strangles innovation, discovery, and human connection. Howard proposes concrete change: new structures outside the legal system to provide administration oversight and protection, new legal boundaries around reasonable risk, and new limitations on lawsuits.

 

In “The Death of Big Law”, Larry Ribstein notes that large law firms face unprecedented stress. Many have dissolved, gone bankrupt, or significantly downsized in recent years. His article, which can be found at http://hosted.law.wisc.edu/wordpress/lawreview/files/2010/08/1-Ribstein.pdf provides an economic analysis of the forces driving the downsizing of Big Law which reflects a precarious business model rather than just a shrinking economy. Several pressures have pushed the unraveling of these conditions, including increased global competition and the rise of in-house counsel. He also discusses new models that might replace Big Law.

 

So what does this all mean?  My take is that these seismic changes in service, delivery, and value will continue to accelerate and that firms that fail to adopt will be left behind. Even individual lawyers' life will change as a result of these social, economic, and technological trends. 

 

Ask any successful businessperson what they believe is the key to success and they’ll tell you “marketing” and “profitable customers.”  For lawyers who provide outstanding client service and results; become a trusted advisor rather than a transactional vendor; and where client feels they received more than a quid pro quo and was emotionally pleased with relationship, exciting new opportunities will emerge.

Legal Marketing Means Having to Expose Yourself

Building a “community” around your services to drive desire, attention and ultimately clients is the centerpiece of modern day marketing.  Forward-thinking firms and lawyers are embracing social media sites and blogs to accomplish this important objective.

 

That’s why I’m excited to tell you that I heard through the grapevine that the really smart folks at MyLegal.com, the very same people who are changing the social media landscape for legal professionals, are putting the finishing touches on their new web site, which is going to be “the place to be” for legal professionals of all types to build their brand, increase their thought leadership, and connect to the right people to help them get the exposure and online reputation they need to completely transform their business and practice.  

 

Be on the lookout as I think the new site will be up very soon.

 

I can’t wait!

Legal Marketing and Job Satisfaction

Three reports released this month suggest that the law firm associates who managed to hold on to their six-figure paychecks during the downturn are unhappy, even as they bring in more money per hour for firms than ever before.

A survey of more than 5,000 third-, fourth- and fifth-year associates conducted by the American Lawyer revealed that the job satisfaction level of mid-level attorneys has dipped to its lowest point in the past six years, with many associates citing less pay for more work and increased job insecurity in the post-recession environment.

Whatever your position or role, eventually you’ll realize that client development and rainmaking not only represent the key to your professional survival, but also unlocks the door to your overall happiness as a lawyer.  

Start putting in the necessary work to plan for the future, one filled with clients and cases you care about.  There’s loads of materials out there to get going.  Create a plan that is aligned with the intersection of the needs of the world and your gifts. Don’t worry about the money…if you’re passionate about your work, the money will follow. And no amount of money can solve boredom and drudgery.  Only then will you realized your true impact and increase your career success and happiness.

Purpose and Legal Marketing

In my last post about the 7 Principles of Legal Marketing Success, the first one mentioned was “Purpose”. 

 

If you’ve read my book, you know that I spend an entire chapter talking about this. 

 

To me, it’s the glue that keeps everything together. 

 

When you’re on purpose, you’re energized and excited. 

 

It’s in alignment with who you are and what you care about.  You're at peace. 

 

Last week I went to a CLE seminar and one of the panelists spoke about the Foreign Corrupt Practices Act.  She has highly charged and passionate.  Afterwards, I asked her what was so exciting about this particulate statute and line of work. She felt that helping executives avoid the minefields when doing business in foreign countries was her passion.

 

A personal injury lawyer once told me that he was born to help people get fair treatment for their injuries due to someone’s negligence.

 

A creditor rights lawyer  said to me that if they owe my client money, I am compelled to make them pay…to honor their commitment.

 

You will note that all of these "reasons" are about helping people.

 

So, what’s your purpose? 

 

Who are you here to help?

 

When you discover and accept your purpose you’ll be inspired, motivated, energized, and your (marketing) message will so genuine and full of value that getting and keeping clients will become... effortless.