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Author: Allan Colman

Law Firm Marketing – Only 3 Sources of New Business

Written by Allan Colman on . Posted in Law Firm Marketing. 1 Comment on Law Firm Marketing – Only 3 Sources of New Business

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[/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][rs_space height=”16px”]When it comes to growth in law firms, there are really only 3 sources of new business. They are:

  • Clients
  • Referrals
  • Prospects

A law firm should derive at least 50% of its new business every year coming from clients and referrals. This new business indicates a client’s recognition of high quality work and on-going awareness of relationship building.

It also results in more work from recent and past clients and demonstrates their willingness to refer business and contacts. While many firms focus on generating new clients, we urge our clients to strive for the 50% factor that most tend to overlook: past clients.

If you’re unsure of how to start, consider 3 important questions:

1. Who do I need to reconnect with?

2. How many client retention meetings can I set this month? And with whom?

3. What upcoming events can I attend and invite clients to join?

At the Closers Group, we help law firms close more new business rapidly using a variety of business development tactics just like these.[rs_space height=”16px”]

Marketing for Marketers Series

Only 3 Sources of New Business

Rainmaking Does Not Start Outside

27% Have Been Terminated by In House Counsel

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6 Underutilized Ways to Accelerate New Revenue

Written by Allan Colman on . Posted in Business Development, Law Firm Marketing.

The Big Bad Wolf has been knocking at law firm doors for several years while lawyers are overlooking the six ways to accelerate new revenue. But let’s remember that Little Red Riding Hood feared the wolf at first.  Then she walloped him. Future rainmakers can also kick the wolf of decreasing revenue by following some tried and true strategies.

The complete article appeared in Orange County Lawyer Magazine, July 2017 (Vol. 59 No.7) p.48.
You can download it.

In this ever-changing environment, as more pressure is placed on attorneys at all levels to grow new business, there is a lack of experience in searching for new clients, prospects and suspects.  As well, in-house counsel have been forced by their boards and executives to get tougher and more demanding, and rightly so.  More than one has stated that law firms have generally assumed that long-term relationships do not require additionally highlighted service levels.

It is here that Little Red Riding Hood can do some serious clawing.  New opportunities are being created every day simply because competitors are falling down on the client-retention-job.  Now, today, at this very moment are the times to market by overcoming client resistance and offering an innovative carrot or two.[rs_space height=”20px”][rs_buttons btn_icon=”yes” icon=”fa fa-download” btn_size=”btn-medium” btn_link=”url:http%3A%2F%2Fallancolman.com%2Fwp2016%2Fwp-content%2Fuploads%2F2017%2F08%2FOC-Lawyer-July-2017-Little-Red-Riding-Hood-Reprint.pdf|title:Download%20Article|target:%20_blank|” btn_text=”Download Article” border_color=”#dddddd” text_color=”#ffffff” icon_color=”#ffffff” background_color=”#81d742″ border_color_hover=”#81d742″ text_color_hover=”#81d742″ background_color_hover=”#ffffff”][rs_space height=”50px”]

Thank You San Diego LMA

Written by Allan Colman on . Posted in Attorney Marketing, Content Marketing, Law Firm Marketing.

Yesterday, it was a pleasure to participate in the first in-person book review of The New Colors of Law Firm Marketing with the LMA San Diego Roundtable. The discussions were lively and open to suggestions and strategies from all of the members. And presenting the world’s first law firm marketing book in the Pechakucha format proved to be a great way to start the program.

Thank you San Diegans. Look forward to presenting to the Orange County LMA next week.

Have You Practiced Lunch?

Written by Allan Colman on . Posted in Attorney Marketing, New Business Development, Practice Pitch Meetings.

Before going to a pitch meeting have you practiced lunch, a proposal, the questions to ask, anticipated answers and setting the next step? Picture yourself at the table with a prospect that you have targeted in the right industry and the right organization. Your research has given you a clear sense of how this “buyer of services” thinks, what their business is about, what the company or agency wants and needs and what your opportunities are vis-a-vis your competitors.

Do not talk about your firm! Instead, start with a value proposition, “here is what we can do for you, and here’s a general sense of how we’re going to get there. And then get them talking. Put your research to work by practicing the questions you will ask that show you have actively studies their problems, needs and opportunities. Anticipate answers and plan responses. And pay attention to their answers rather than thinking about your next question.

Practice, practice, practice before you start eating the salad.

Worried About Your Upcoming Partner Retreat ?

Written by Allan Colman on . Posted in Marketing for Law Firms, New Business Development, Speaking and Workshops.

Planning for your upcoming partner retreat in the fall is typically now in the “scrambling for speakers” mode. You have been tasked with finding a presentation that is engaging, full of useful ideas, a bit humorous and will contribute to generating new business. That’s where THE NEW COLORS OF LAW FIRM MARKETING will fit in so well.

This world’s first law firm marketing coloring book is focused on helping the firm’s leadership develop the right strategies and cultivate teamwork.

Contact us now for scheduling at www.closersgroup.com/contact/.

Pechakucha! Try it – You’ll like it.

Written by Allan Colman on . Posted in Attorney Marketing, Conversion Rate Optimization, Law Firm Marketing, New Business Development.

The Closers Group wants your firm to try out a powerful, entertaining way to boost new business from your firm’s attorneys, our PECHAKUCHA! In our keynote presentations and workshops, the first 6 minutes and 40 seconds are dedicated to highlighting 20 cartoons about marketing and business development. And they are combined with the latest observations and tactics to grow new business now.

The world’s first law firm marketing coloring book, THE NEW COLORS OF LAW FIRM MARKETING (on Amazon, etc.) assists in overcoming the ever increasing pressures on attorneys to grow more revenue. Yet, at the same time, many resist efforts by marketing professionals to assist.

This is an entirely new and humorous approach to educate your group on marketing, business development and business generation. AND, you an even color in the book. To learn more about trying Pechakucha, go to CONTACT.

Who Should Talk More, You or the Client? Business Development Myth #4.

Written by Allan Colman on . Posted in Asking for Business, Attorney Marketing, Business Development, Conversion Rate Optimization.

New Business Development Myth #4, Client’s want you to do most of the talking! Nothing could be more “untrue.” Keep your resume to yourself and let the potential client do the talking. Adopt the old IBM 60/40 sales training rule — keep them talking 60% of the time and spend the remaining 40% asking good questions based on your pre-meeting research.

Pay attention to the prospect/client’s verbal cues, and refine your pitch accordingly.

Since When Do Attorneys Need to Wait For Marketing? Myth #3

Written by Allan Colman on . Posted in Asking for Business, Business Development, Conversion Rate Optimization, Law Firm Marketing.

If you have been challenged to bring in new business, why do attorneys need to wait for the Marketing Department? Ultimately, the onus is on the sales team to bring in (and often to keep) the business. Marketing should support those goals with collaterals, media and public relations activities and by identifying seminars and workshops that help facilitate network development.
Once you have the information and sales training, plan a strategy to pursue the business and hone in on your “closing” skills. Maximize your conversion rates!

“Marketing Should Not be Left to the Marketing Department.” – David Packard. His message means that everyone should be marketing, the marketing department, legal assistants, paralegals, accounting AND attorneys. Business development is chasing suspects and prospects, business generation means “closing” the deals.

Myth #2 – One Size Fits All

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Marketing for Law Firms.

Business Development myth # 2 is that when it comes to marketing, one size fits all. News flash: one size never fits all. Marketing should be tailored according to personality, needs of the firm and those of the client. One tactic that works for one professional won’t necessarily work for another. Tailored business development, sales training and closing skills will land the new business. Practice, practice, practice.