Focus on the positive
We have been through a rough time during the past year or two across the country. The economic downturn has many attorneys increasingly concerned with how the tough economy is affecting their practice and their ability to focus on their law firm marketing plans.
As a business owner you cannot afford to focus on the fear and scarcity mentality that is seen today and being promoted by the media. Let’s have a little perspective on this. Is this the best of times? No. Is this the worst we have ever seen it? Not by a long shot. Will we recover? Yes. When? No one knows. Your challenge is to stay focused on taking action, look for opportunity in the midst of crisis and find a way to leverage it!
Here are 5 tips to keeping your focus.
Focus on the positive. I recommend making a list of all of the good things that happen to you each day and keep it posted near your computer as a constant reminder that not everything is bad.
Focus on what you can control, instead of what you cannot control. You cannot control global markets, the investment banks, or the economy. You can only control your actions so create an action plan of what steps you are going to take to keep moving forward. Have a heart to heart talk with every attorney in your firm and require them to submit 3 specific steps they will take in the next 90 days to generate more business for your firm.
Focus on improving client satisfaction and retention. Send out a client satisfaction survey, call up your top 10 clients and take them to lunch, stay connected with your current and former clients – ask them what challenges they are facing and how you can assist them. Perhaps you can introduce them to a banking colleague for a much needed business line of credit or a real estate broker who can help them sublease some office space.
Focus on implementing your marketing plan. When this economic crisis is over you will find some firms have just barely managed to survive, while others have grown significantly. The difference is when everyone else was pulling back, some firms saw this as the perfect opportunity to expand their marketing and increase their efforts. Which path will you follow?
Focus on connecting with referral sources. Go through your rolodex and reconnect with every single person who sent you a referral in the last 24 months and start meeting with them in person.
As the African proverb says, “If you want to go fast, travel alone; but if you want to go far, travel together.” We are all in this journey together.
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Looking To Beef Up Your 2010 Marketing Plan? Sign up for one of our upcoming webinars.
Are you:
….Worried about the Recession?
….Concerned with the Lack of New Clients?
….Ready to Stop Worrying and Start Taking Action?
Then join Stephen Fairley for one of our upcoming webinars that will allow you to build a robust law firm marketing plan that will allow you to attain your 2010 business objectives.
Our upcoming schedule includes:
5 Easy Steps to Create Your 2010 Marketing Plan
Thursday, February 11 at 2-3pm Pacific | 3-4pm Mountain | 4-5pm Central | 5-6pm Eastern. Click here to register.
7 Proven Keys to Recession-Proof Your Law Practice
Thursday, February 18 at 2-3pm Pacific | 3-4pm Mountain | 4-5pm Central | 5-6pm Eastern. Click here to register.
A Strong Financial Plan is Vital For Your Law Firm Marketing Plan
Previously, I discussed selecting the most effective legal marketing techniques to boost your law firm marketing plan. The techniques include referrals, speaking engagements, networking, online presence, public relations, promotional events and advertising. This post explores the benefits of a strong financial component in your law firm marketing strategy.
This is often the scariest part of writing a marketing plan. One of the biggest reasons for small business failure is lack of available funding to keep it going. This is certainly the case for many new firms and solo practitioners. The financial section of your law firm marketing plan should include:
- Your currently available funds (cash in hand for expenses)
- A list of your current monthly sales revenues for every category (individual clients, contingency cases, etc)
- A breakdown of all fixed expenses including: payroll, office rent, equipment, insurance, taxes, etc.
- A 12 month timetable in which you estimate how much revenue you will bring in per client per month (assuming you will not keep every client forever)
- A forecast of new revenues—how many new clients do you anticipate per month and at what rate
- A comprehensive list of all marketing activities and anticipated expense of each one
- A simple profit and loss statement (P&L) in which you subtract your anticipated expenses from your anticipated revenues. It gives you a visual picture of how many new clients you need to run your firm, how much money will be spent in overhead and marketing costs and when you will make a profit. It also allows you to run different scenarios (best case, worst case, average case, minimum revenues, etc), which can help in determining your expenditures.
If you take the time to carefully lay out your financial plan, anticipated expenses, and current revenue generation, these numbers should give you a pretty good idea of how much money you need to have on hand in order to properly fund your marketing efforts.
Often the easiest ways to write up and keep track of these financial charts is by using Excel or another spreadsheet program, but the most important part is the actual process of “running the numbers” rather than the program you use to calculate the numbers.
Below is a sample marketing plan to give you an idea of how your plan might take shape.
MARCH MARKETING CALENDAR
March 8 Send out your monthly ezine to subscribers
March 11 Attend Networking Event 1
March 14, 15 Make all follow up calls to people you met at Networking Event 1
March 15 Send out Press Release about your participation in the upcoming trade show
March 17 Meet with potential Referral Source
March 22 Attend Networking Event 2
March 23, 24 Make all follow up calls to people you met at Networking Event 2
March 28 Meet with potential Referral Source
March 29 Prepare for upcoming trade show
March 31-Apr 1 Attend Trade Show that your prospects attend
A strong financial component is necessary to your law firm marketing plan, because we all know that without the money to implement them, plans aren’t worth much. Be as accurate as possible in estimating your costs before you implement your legal marketing strategies. It will make the process much smoother.
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Looking for more Rainmaker Wisdom? Get the Rainmaker Retreat Live!
Over 6,000 attorneys from hundreds of law firms across the country have discovered how to generate more referrals and find new clients by simply applying our Rainmaker Marketing System.
Here's just a sample of what you will discover in this 6 CD set audio program:
Over 22 proven strategies for attracting more and better clients
How to create powerful relationships with over 30 new Referral Sources in the next 90 days
- 7 ways to find more clients fast and how to select the best ones for you
- 2 ways to promote your firm to 100,000 people for only $100
- 5 ways to automate your marketing using technology and the internet
- 6 secrets top Rainmakers use to dominate their competition
- 8 steps to creating a 6 month comprehensive marketing plan for your firm
Much, much more!
This live recording of our highly successful 2 day law firm marketing boot camp will inspire you with practical examples, motivate you with sample case studies, walk you through best marketing strategies used by top Rainmakers, and provide a guide for you to quickly implement proven tactics in the next 30 days. You can purchase the Rainmaker Retreat Live here
Looking for Law Firm Marketing Guidance? Come to a Rainmaker Retreat
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Are you looking for a way to fulfill your New Year’s resolution to become more effective in how you spend your legal marketing budget? Do you need guidance and motivation to compose a comprehensive law firm marketing plan? I have a suggestion for you. Come to one of the upcoming Rainmaker Retreats.
The Rainmaker Retreat is a 2-day marketing boot camp for attorneys. Attendees at previous Rainmaker Retreats have come away with many new ideas and actionable legal marketing strategies that they can take home and implement right away.
This spring, we have a number of Rainmaker Retreats scheduled, and more in the planning stages. The current schedule of Rainmaker Retreats is:
Scottsdale, AZ March 19-20
Roseland, NJ March 26-27
Las Vegas, NV April 9-10
Los Angeles, CA April 16-17
These are just a few of the attorney marketing techniques you will learn:
- 5 Proven Attorney Marketing Strategies to Get More Attention, Command More Respect and Charge Higher Fees
- How to Ethically Position Yourself as a Specialist in your Area
- How to Avoid the Most Deadly Mistake Attorneys Make in Attorney Marketing
- More than 22 proven legal marketing strategies to attract more and better clients
- How to create powerful relationships with over 30 new Referral Sources in the next 90 days
- 5 Ways to automate your legal marketing using technology and the internet
- 7 ways to find more clients fast and how to select the best ones for you
- 2 ways to promote your firm to 100,000 people for only $100
- 6 secrets top Rainmakers use to dominate their competition
Don’t miss out on the opportunity to put your firm on the path to greater success; register today to reserve your place at the Rainmaker Retreat.
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We would like to send you a DVD of your colleagues (and even your competitors) describing their experiences at the 2 day Rainmaker Retreat. Yes, we know you are skeptical (we wouldn't have it any other way). So instead of us telling you how these 2 days will transform your business, we will let our clients do the telling. Click here to order your complimentary DVD right now.
The Legal Marketing Lowdown on PR, Promotional Events and Advertising
Previously, I discussed selecting the most effective legal marketing techniques to boost your law firm marketing plan. The techniques include referrals, speaking engagements, networking, online presence, public relations, promotional events and advertising. This post explores the benefits of public relations, promotional events and advertising in your law firm marketing strategy.
Public relations, promotional events and advertising are three similar, somewhat interrelated but distinct strategies in a sound law firm marketing plan This post provides a brief overview of each of them.
Public Relations
As a marketing strategy can take the form of writing articles or columns for local newspapers, trade magazines, professional journals, offering an advice column, being a content expert for the media; television, radio or newspaper interviews, writing a press release, or having stories published about your clients and how you helped them.
Public relations can be great for building credibility and brand awareness, but generally does not result in immediate clients. The major benefit of PR is that it positions you a recognized expert and creates awareness of your firm. This is a long-term strategy (6-12 months).
Promotional Events
Generally, this strategy revolves around participating in trade shows, sponsoring a local event, having an open house, or offering “Free” seminars or workshops. Promotional events can be useful in lifting your visibility among your prospects and for building your database, but sometimes cost you a lot more in terms of time and money than they are worth. Plus, it’s often hard to measure the success of the event.
Advertising
Usually advertising is described as mass market media like radio and TV ads, newspaper classifieds or magazine ads, yellow pages, flyers and websites. This is the area most people incorrectly identify synonymously as marketing, but is really just one of the forms marketing and is usually the least effective for attorneys. This strategy is not recommended unless you have a large marketing budget.
Here are the 5 Biggest Mistakes in Attorney Advertising
- Most Ads are Not Meaningful.
- There is a High Cost to Mass Advertising
- Ads can help your firm build “brand awareness” but are not good when it comes to encouraging people to take action
- Most Law Firms Lack Follow-up Systems
- No Tracking of Real Results
If you are going to commit to the cost of an advertising component in your legal marketing plan, keep these mistakes in mind. Advertising is a significant financial commitment. Make sure that your law firm marketing budget is well-spent on a system with good follow-up and measurable results.
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Becoming a Rainmaker: Business Building Strategies for Lawyers
Based on my highly successful seminar series by the same name, this 3-audio CD program covers dozens of practical recommendations and step-by-step sales and marketing techniques for solo practitioners and small law firms.
I have given this seminar to hundreds of lawyers at state and local bar associations, where it has been very well-received.
To order this valuable seminar, visit our website.
California Solo and Small Firm Summit Recap
Last week, 175 solo and small firm attorneys from a wide variety of practice areas gathered in Long Beach for the State Bar of California Solo and Small Firm Summit. I had the great privilege of being the keynote speaker during the opening and closing sessions, as well as presenting during two of the breakout sessions. Law firm marketing was not the only topic on the agenda, but it was prominently featured.
The attorneys in attendance were upbeat and positive, despite the recent economic doldrums that have befallen the nation. They were motivated and there for a reason: To learn how to better manage and market their law practice. And there was a wealth of information available to them during the Summit.
I presented “7 Strategies to Recession Proof Your Law Firm” during the opening session on January 21. Later that day I, along with attorney John Bisnar, presented “5 Core Components of a Highly Successful Website and Blog” during the closing session. On Friday, I presented “8 Proven Steps to Double Your Referrals in 6 Months or Less” and closed out the 2nd Annual Solo and Small Firm Summit with “Unlocking the Secrets of Social Media: How to Leverage LinkedIn, Fix Facebook and Tweak Twitter for Your Law Firm” as the keynote speaker during the closing luncheon on Friday.
One quote from an attendee that caught my eye captured the essence of what the Summit was trying to provide for the attendees:
“Prior to today I was doing many of the things recommended by The Rainmaker Institute to build my practice. Now I have added tools that I can use to build a great practice.”
The Summit succeeded by adding tool to the toolboxes of the attendees, and, more importantly, showing them how and when to most effectively use those tools as part of their legal marketing strategy. It’s not enough to collect law firm marketing tools. Organizing them into an effective law firm marketing strategy is what brings success to those willing to put in the time and effort.
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Looking for more Rainmaker Institute wisdom?
Then try our monthly ezine. One click of your mouse will take you to our site where you can see the current issue and subscribe to our complimentary monthly ezine that will be delivered to your inbox. Each issue is chock-full of legal marketing information that you can put to use right away. I think you will find the information on the ezine something that you will want to share with your staff to begin 2010 on the right note in your legal marketing plan.
Your Online Presence can Make or Break Your Legal Marketing Plan
Previously, I discussed selecting the most effective legal marketing techniques to boost your law firm marketing plan. The techniques include referrals, speaking engagements, networking, online presence, public relations, promotional events and advertising. This post explores the benefits of your website and blog in your law firm marketing strategy.
Your online presence is vital to your law firm marketing efforts. There are many ways to create an online identity including websites, blogs, and social media like LinkedIn.com, Twitter, Facebook, etc.
Your online presence generally is designed to work with your online legal marketing efforts to get prospects to take action by either: contacting you, requesting information from you, setting up an appointment with you, or hiring you. This strategy typically requires the most money to implement.
Here are some keys to remember when building your website:
- Position yourself as a Generalist versus Specialist
- Choose a Strong Domain Name
- Your Domain name should be easy to spell; easy to remember
- Use the Actual Keywords Prospects Use to Find Your Practice. For example:
www.GetaGreenCardNow.com
www.SoCalLemonLaw.com
www.SmallBusinessLawyer.com
www.RealEstateAttorneyLA.com
www.HowtoStopDomesticViolence.com
www.BestAttorney.com - Craft a Powerful “Headline” at the Top of Your Website
- Write Captivating Content: writing for the internet is completely different from writing a legal brief
- Use Case Studies or Testimonials (follow your ethics guideline)
- Use Multiple, Custom Websites
Design One Main Corporate Website
Then create multiple Mini, Practice Specific Websites
For example, a business law firm practice's online presence might look like this:
- Specific Sites: business litigation, registered agent site, employment law, commercial real estate, mediation
A personal injury law firm practice might have the following sites as part of their online presence:
- Specific Sites: auto accidents, construction accidents, SUV accidents, dog bites, specific product liability lawsuits
Focus Each Website on a Specific Target, Practice Area or Geographical Location
Create and Promote your own Blog
According to blog search engine Technorati, five years ago there were two million blogs on the web. Today there are more than 112 million!
Blogs (short for "weblogs") are a simple way for anyone to post new content in an easy-to-read web site format with the newest information always on top.
But how can a blog benefit your business? Your blog can boost your ranking in the search engines, increase your traffic, and improve your credibility -- ALL of which will ultimately lead to more sales!
80% of journalists now search blogs to find experts for stories
Components of a successful blog:
1. Highly targeted, well branded.
2. Provides quality content that solves your prospects challenges.
3. Publish your blog constantly and consistently: 2 to 4 times per week
4. Write in relation to the most popular current events.
5. Register your blog in directories and promote actively.
Top blog directory: www.masternewmedia.org/rss/top55
Resources:
www.blogger.com www.typepad.com www.wordpress.com, www.lexblog.com
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We would like to send you a DVD of your colleagues (and even your competitors) describing their experiences at the 2 day Rainmaker Retreat. Yes, we know you are skeptical (we wouldn't have it any other way). So instead of us telling you how these 2 days will transform your business, we will let our clients do the telling. Click here to order your complimentary DVD right now.
Informal and Formal Networking is Integral to Good Legal Marketing
Previously, I discussed selecting the most effective legal marketing techniques to boost your law firm marketing plan. The techniques include referrals, speaking engagements, networking, online presence, public relations, promotional events and advertising. This post explores the benefits of networking in your law firm marketing strategy.
A sound law firm marketing plan will include networking at trade association meetings, networking groups, professional associations, chambers of commerce, or formal lead groups. Networking works well for some people and not at all for others.
I have seen some attorneys build their entire business from networking and others who have wasted months of diligent effort without a single sale to show for it. It is an effective legal marketing strategy when implemented well, but it does require a significant time commitment for success.
You need to be very deliberate about organizations you join and have a clear goal for your networking efforts.
Formal versus Informal Networking: Going to a group event versus casually meeting someone for lunch. Formal Networking includes: industry trade shows, bar meetings, rotary clubs, special interest groups, political groups, and lead groups (like Business Network International).
Join the Right Groups: not legal groups or groups where a lot of attorneys hang out (unless you get a lot of your business from other attorneys); go where the decision makers meet, not the gatekeepers.
Join Elite Groups: groups that cost several hundred dollars a year are better than cheap groups; groups that require a member to sponsor you are even better .
Use an Audio Logo: Most people are basically narcissistic—they want to talk about what interests them. They don’t want to talk to someone who’s only interested in how to get their business. Use an Audio Logo to attract attention. Be prepared to give case examples of how you have helped others.
An audio logo is an idea or statement that clearly and succinctly tells who your intended audience is and what you can do for them.
When someone asks you or what you do, the response should be in the form of an audio logo.
It should be something your target market can easily remember, is attractive, meets one of their points of pain, and/or offers a benefit to them.
Here is the outline of an audio logo:
“I help (who your clients are) to (what your solution is or how you solve their problems).”
Examples of Audio Logos:
I help mid-level chemical companies keep the competition out by securing strong patent protection on their novel products.
I pave the way for individual and university inventors to obtain income from their inventions relating to biotechnology and pharmaceuticals.
I help win justice for the injured so the injury doesn't destroy their life.
We provide Integrated Estate Planning to give you peace-of-mind knowing your fortune won't be lost to the government and your wishes will be implemented.
Networking and referrals are two closely linked law firm marketing strategies that have a place in your legal marketing plan. When you are designing your law firm marketing plan, include them if they are appropriate to the individuals who will be implementing the plan.
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Practice Made Perfect For Lawyers: 10 Principles for Marketing Your Legal Services
This comprehensive training manual is specifically designed for attorneys and other legal professionals who desire to achieve a higher return on investment from all their marketing efforts. Much more than a simple adaptation, each chapter has been carefully rewritten to apply Stephen’s unique High Impact Marketing System to the challenges faced by solo and small law firms.
Written especially for solo practitioners and partners at small law firms (less than 25 attorneys), this practical manual includes dozens of specific marketing and sales recommendations that can be easily and quickly applied to your firm.
It includes a 2 CD set—one audio CD that provides you with an overview of the 10 Principles along with ideas on how to maximize your results from the manual and a data CD that gives you customizable templates and forms to help you create a marketing budget and strategic development plan.
To purchase this valuable resource, visit The Rainmaker Institute website.
Use Speaking and Presentations to Boost Your Law Firm Marketing
Previously, I discussed selecting the most effective legal marketing techniques to boost your law firm marketing plan. The techniques include referrals, speaking engagements, networking, online presence, public relations, promotional events and advertising. This post explores the benefits of speaking engagements and presentations in your law firm marketing strategy.
Public presentations, workshops, professional seminars, speaking for associations, or serving on a panel as an expert can be a phenomenal law firm marketing strategy to land new business.
In fact, depending on your target market and specific product or service, it is often the 2nd most effective legal marketing technique to land new business other than referrals.
There are some attorneys who have become so good at speaking that it has become their #1 legal marketing method of finding new clients. You must identify what groups your Ideal Target Market attend and start targeting them for your presentations.
Select the right venue based on your experience, skills, and abilities:
- Moderator of a panel (either of 3-5 partners in the firm or 3-5 different professionals)
- An expert on a panel discussion
- Teleseminar format (over a conference bridge line)
- Small, private, client-only seminars
- Joint venture with an organization or company who serves a similar market (small community bank, group of financial planners, chamber of commerce, networking group, accounting firm, business consultant, psychologist, chiropractic group, employee benefits company)
- Give a presentation or keynote to a trade association (135,000 trade associations in USA; see the Encyclopedia of Associations for details)
- Public seminars (usually free, but may charge money if for businesses)
Make the talk educational
A common misconception is that if you tell your audience too much information they won't hire you. In reality, the average person usually thinks, “Wow, if this attorney was able to share that much information with me in just 45 minutes, imagine how much more they have to offer.”
Remember, there is a huge difference between having the information to do something and actually having the time or competence to do it.
For example, tell them how to distinguish a good attorney from a bad one. Give them the questions they need to ask to make an informed decision—and make sure YOU are the answer to those questions.
A couple other tips that can boost your law firm marketing via presentations and speaking engagements.
• Get the attendees contact information BEFORE your presentation
• Develop your Follow Up Strategy BEFORE the presentation or seminar
Having both of these strategies thought ahead of your presentation will make your law firm marketing strategy much easier to implement. Remember, time is of the essence in follow-up, so design your strategy to move quickly.
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Want to take the Rainmaker System home with you?
Then order the Rainmaker in a Box 5-DVD set!
Some of the information and strategies you will learn include:
• The 5 Immutable Secrets to Building a 7 Figure Law Practice
• Secrets of Building a Referral-based Law Practice for Busy Practitioners
• The Top 6 Most Powerful Online Marketing Strategies for Attorneys
• Action, Accountability and Next Steps
This program also includes a data DVD which includes all 4 PowerPoint slides for all 4 presentations. We recommend you print all these off and take notes on them as you watch the 4 intense DVDs.
To order this information-packed set click here.
Use Referrals As A Central Part Of Your Legal Marketing Strategy
Previously, I discussed selecting the most effective legal marketing techniques to boost your law firm marketing plan. The techniques include referrals, speaking engagements, networking, online presence, public relations, promotional events and advertising. This post explores the benefits of referrals in your law firm marketing strategy.
Referrals are the holy grail of business—everyone wants them. The problem is that most attorneys don’t have a solid plan to find them and nurture them. The easiest way to build a business is by referrals. Identify who you want to target and develop a plan to talk with them on a consistent basis. This is usually a longer term strategy (3-6 months).
However, at The Rainmaker Institute, we have developed a powerful system called the Referral Development Program that is obtaining fantastic results, even in a tough economy.
Based on our experience, legal referrals generally come from 5 major categories:
- Current and Former Clients
- Family, Friends, Coworkers, and Colleagues
- Bar Associations and Online Legal Referral Services
- Other Attorneys in Different Practice Areas
- Strategic Referral Partners (non-attorney professionals)
The Rainmaker Referral Development Program is specifically designed to help time-starved lawyers in small law firms and in solo practice meet with qualified referral sources on a regular basis, thus significantly increasing their chances of obtaining a regular stream of qualified referrals.
Our clients are doubling and tripling their number of referral partners in a matter of weeks, not years.
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Looking for more Rainmaker Institute wisdom?
Then try our monthly ezine. One click of your mouse will take you to our site where you can see the current issue and subscribe to our complimentary monthly ezine that will be delivered to your inbox. Each issue is chock-full of legal marketing information that you can put to use right away. I think you will find the information on the ezine something that you will want to share with your staff to begin 2010 on the right note in your legal marketing plan.
Proven Legal Marketing Techniques To Be Featured At Solo and Small Firm Summit
This week is one of best opportunities you will have this year to boost your law firm marketing at a very affordable cost. Legal marketing strategies and information will be a popular topic of discussion during the State Bar of California Solo and Small Firm Summit on January 21-22, 2010 in Long Beach. Multiple practice areas will be featured at the summit, which is being held in conjunction with the Section Education Institute.
I will be presenting on both days of the summit. I will present “7 Strategies to Recession Proof Your Law Firm” during the opening session on January 21. Later that day I, along with attorney John Bisnar, will present “5 Core Components of a Highly Successful Website and Blog” during the closing session. On Friday, I am scheduled to present “8 Proven Steps to Double Your Referrals in 6 Months or Less.” I will then close out the 2nd Annual Solo and Small Firm Summit with “Unlocking the Secrets of Social Media: How to Leverage LinkedIn, Fix Facebook and Tweak Twitter for Your Law Firm” as the keynote speaker during the closing luncheon on Friday.
There is still time to register for the summit. Click on the link here to reserve your seat for this law firm marketing clinic. Internet marketing for lawyers is a lower-cost method of reaching the audience you are targeting, and the summit will provide you with a wealth of information on how to incorporate it into your law firm marketing plan.
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Your law firm marketing plan is not exempt from this review process, and I encourage you to take a careful look at all of your legal marketing, including your internet marketing for your law firm.
To that end, I would like to call your attention to an article I wrote that appears in the December, 2009 issue of GPSolo, published by the American Bar Association. The article, Law Firm Marketing 2.0: Internet Marketing for Rainmakers, is something that I wrote out of a firm conviction that most internet legal marketing plans could use some strengthening in their Search Engine Optimization (SEO) keywords.
I encourage you to read the article and use it to assist you as you adjust your 2010 law firm marketing plan
