I would like to start by asking a somewhat provocative question, “How would you run your business differently if you saw yourself as the leader of your company not just the service provider?

Over the last few years I have interviewed more than 300 entrepreneurs, small business owners and legal marketing professionals and discovered specific strategies and techniques they use to achieve rapid business growth that is sustained over the long term.

I want to share with you six secrets I uncovered that financially successful entrepreneurs use that unsuccessful ones don’t.

The first secret I discovered is that…

Highly Successful Legal Marketers Start by Identifying their Ideal Target Market

Your Ideal Target Market (ITM) is the person or company who is most likely to retain you initially, repeatedly, and at the highest profit margin. There are 3 key parts here:

Initially—your ITM will retain your services faster than others and present fewer obstacles for you to overcome.

Repeatedly—the most expensive thing a law firm can have is a 1 time client. On average, it will cost your firm 10 times as much to obtain a new client as it does to service an existing one.

At the highest profit margin—your ITM is not the price-conscious consumer. Research tells us that 15% of any market, regardless of what product or service you are selling will always and only buy on price. Your responsibility as a law firm marketing professional is to quickly identify those “15 percenters” and move them out of your pipeline so you can focus on selling to the other 85%.

Identifying and targeting the right market is absolutely critical to the success of your law firm marketing plan. If you don’t target the right market, nothing else you do will matter. To be successful as a legal marketer and attorney, you have to start with a clear picture of your ITM.
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Looking To Beef Up Your 2010 Marketing Plan?  Sign up for our upcoming webinar.
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 our upcoming webinar 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:
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.