One of the biggest mistakes I see most attorneys make in the legal marketing is defining their target market way too broadly. For example, a PI attorney might say: “My target market are those people who have been injured in Texas.”
Although this statement is certainly true, that’s a lot of people and it certainly doesn’t help the marketing efforts of such an attorney.
A better way to describe that PI’s target market might be something like: “My target market are those married couples who make more than $50,000 a year, own their own homes and either the husband or wife has been injured in a construction accident in Dallas, Ft. Worth, Houston or Austin, Texas.”
There, isn’t that more specific? Now, although for purpose of illustration here I’m making up these qualifiers, in the real world of finding your prospective clients, you should not. Your qualifiers should be based on factors such as: who is more likely to hire you, who is more likely to listen to you when they hire you and who is more likely to pay you, for example. By strategically qualifying your target market, your marketing efforts are made much, much easier and have a greater likelihood of producing results.
Here are more examples of what I’m talking about, broken down into practice categories for
Business Attorney for Small, Privately-held Businesses
- CEOs, Presidents, VPs, General Managers.
- $2M to $100M in annual revenue.
- Privately-held companies with 20 to 1,000 employees.
- In the high-tech, telecommunications or software development industries.
- Headquartered within 20 miles of my office.
- Are challenged with protecting their IP, wanting to grow nationally or internationally, and looking to joint venture with or license their IP to larger companies.
Commercial Real Estate Purchase & Development
- Owner, General Manager, President or CEO.
- Involved in a minimum of 3 projects per year.
- Average deal is worth at least $5M up to $500M.
- Projects are either retail, office space, malls, land use and require special zoning, such as industrial or multi-family.
- Have many legal needs including initial and extended contracts, negotiation with larger companies, tenant leasing, employment contracts, zoning laws, lending laws, dispute negotiation, etc.
- CEOs, Presidents, Owners, General Managers.
- At least $2M to $100M in annual revenue.
- Privately-held companies with usually 20 to 1,000 employees.
- Often my client’s businesses are growing 10 to 20% faster than average.
- Open to any business, but most clients are in manufacturing, technology or the transportation field.
- Most clients run a business that has an international component to it, is based largely on their IP, is very employee-intensive, or contracts with much larger companies.
- Can be located anywhere within the state, but usually within 20 miles of a major city. (Manufacturing and technology companies) or along a major interstate (transportation companies.)
- Have litigation matters where the ”problem” is worth at least $100,000.
Family Law/Divorce Attorney
- Have an estate worth at least $500,000 to $1MM in assets.
- White collar professional or service professional (doctor, chiropractor, accountant, etc.)
- Not interested in a “scorch and burn” attorney; willing to work with the other party.
- Located within 20 to 30 miles of my office or a direct referral.
- Able and willing to pay a $7,500 to $10,000 retainer.
Where can get practical, proven and results-producing law firm marketing help in one place? In the The Rainmaker Advisor Journal. To get your free trial copy, go to: www.therainmakeradvisor.com