Skip to main content

Where’s the Beef? 2017 Law Firm Outlook

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

Hearing from attorneys and marketing professionals in response to the 2017 Law Firm Outlook Survey, “getting attorneys out on the business development trail” says it best. Significant concern was expressed about growing competition but fewer attorneys willing to market. Law firm outlook was also described as needing to increase market share and winning new clients.

Therefore, our article title, Where’s the Beef focuses on the need build a long-term pipeline. But the “beef” also refers to the winner of our Survey Drawing.

MARK LEIPOLD, ATTORNEY AT GOULD RATNER in Chicago selected an Omaha Beef package as his prize.

The strongest responses identified primary needs as:

* Build a long term pipeline;
* Close more “new” business;
* Close more “new” business from current clients;
* Improve training for business development;
* Remove under performing activities and investments.

Clearly, the recognition of these law firm marketing needs are not a surprise. But what seems to run counter to them is satisfaction with what firms are investing in traditional marketing, such as advertising, social media, events, etc. And what several identify as the missing element is leadership’s lack of managing timelines and assignments.

In summary, if management want their 2017 law firm outlook to be successful, focus and execution should be placed on “getting attorneys out on the business development trail.”

We’ve Sweetened the Offer – Take our 2017 Law Firm Outlook Survey

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

STEAKS OR PIE?

We want to sweeten our offer for helping us with our 2017 Law Firm Outlook Survey.  We’re conducting a brief survey to learn morfe about the key issues facing law firms in 2017.  Anyone who responds can participate in a drawing for their choice of an OMAHA STEAKS package or GOODE TEXAS PECAN PIE – both sweetened and tasty rewards for helping us.

We;ll collect responses and share the results with our law firm community.  Responses are anonymous and confidential – entry in the drawing is optional.

We greatly value your time and input.  Take the survey  https://www.surveymonkey.com/r/5CCRFGP

Do You Know the Next Piece of the Business Development Puzzle?

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Marketing Partners.

As business development consultants, in our business development round tables we are often asked “what is the next step?” or do you know the next piece of the business development puzzle. In previous posts, the first two pieces were: 1: build future leaders; 2. teach advanced tactics and process strategy, not theory.

The third piece of the business development puzzle is “Do not resolve for your professionals to make an impact; expect them to make an impact now!” For those who say “I don’t know how to begin”, send them to our Business Development Opportunities Check List in OWN THE ZONE, on Amazon, B&N, etc. It is designed for even the marketing and business development novice to begin a specific weekly/monthly actions program.

Three primary segments are Marketing and Business Development, People, and Internal Marketing. Elementary marketing can begin with the simple marketing bromide,

* Go Where They Go
* Read What They Read
* Know Who They Know.

As for “people”, have your non-marketers considered going to their alumni association meetings, become active in children’s groups such as soccer, or attend the industry associations where their practice focus resides?

And the third segment of our Business Development Opportunities Check List is “internal marketing,” typically the most overlooked marketing asset in every firm and company. How easy are these 3 elements? When can you start the “reluctant ones” on this path for new revenue generation? Go to the “Books” section of our website and begin the journey.

2nd Piece of the Business Development Puzzle

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Conversion Rate Optimization. 1 Comment on 2nd Piece of the Business Development Puzzle

The 2nd piece of the business development puzzle is “teach advanced tactics and process strategy, not theory. According to Chet Holmes in his Business Breakthroughs program, closing is one of the last steps to winning new business. As a marketing consultant, we find that in order to be successful in business development, there are several tactical steps that need to be taken. Understanding and using the steps to closing we include in OWN THE ZONE,are critical to winning new business.

Reminder, if you submit 5 of the 9 puzzle topics correctly, before December 1st, we will make a donation to the Children’s Cancer Research Fund in your name.

All strategies demand tactics, not broad theories. And if closing is a fine art, then the needs include marketing resources and sales (yes “sales”) maneuvers. to learn more about the Steps to Closing, go to our contact page.

A Business Development Puzzle – Win a Prize

Written by Allan Colman on . Posted in Attorney Marketing, Content Marketing, Marketing for Law Firms. 1 Comment on A Business Development Puzzle – Win a Prize

Closers Group: A Business Development Puzzle – Win a PrizeDo you know the 9 pieces of a Business Development Puzzle? With each post, you will see one more critical tactic we emphasize for long term revenue growth and sustainability. For anyone who guesses 5 of the 9 pieces prior to December 1st, we will make a donation in your name to the Children’s Cancer Research Fund.

Building future leaders should be the mission of every law firm and professionals services firm. Professional development programs including client management, client retention, marketing, cross-marketing, etc. should be present in every firm. A recent ALM Intelligence survey pointed out the reason. In surveying partner-level laterals (within the previous 3 years), 48% said one of their primary motivations to moving to another firm was the availability of professional development training. Yes, 48%.

A hint for the next business development puzzle piece – Where does marketing theory fit in?

To send your business development puzzle answers, visit the contact page.

What Did Not Work in Business Development II

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Client Retention.

Continuing from our previous post on “What Did Not Work in Business Development”, we hear more comments from in-house counsel about business development tactics where many fail:

7. Go to a prospect/client presentation and not getting names of all attendees;

8. Choosing the wrong medium to communicate i.e. email vs. phone;

9. Surprising client with late breaking information;

10. Lack of business etiquette – during a meeting using iPhone or Blackberry, taking calls, or being the “potted plant”, not engaging in the meeting.

11. Sending out cold call materials;

12. Not being prepared for meeting;

13. Not following up with clients at sponsored events.

 

Business Development Tactics

In case you missed the previous post, you can find it here.

Legal Services Competition

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

As legal services competition intensifies, and client budgets fight to stay stable, doesn’t it make sense to look within your organization and build on what you have? The cost is low and the effort can make your law firm marketing far more effective. In our Raid Assessment work with clients, these are among the first tactics we use to strengthen business development efforts.

Preparing for the Closing Zone
(Source, OWN THE ZONE)

When you are fighting for new client engagements in the Closing Zone, it is important to recognize that you are participating in a form of sophisticated combat (i.e.see previous post). Draw on your training and strengths and you’ll be prepared to engage and win new business.

Combat Coaching?

Written by Allan Colman on . Posted in Attorney Marketing, Business Development, Email Marketing.

At the Closers Group, we often talk about how “combat coaching” fits in with our CLOSING ZONE approach to business development. We focus on the importance of having your strategies and tactics practiced and ready so that, when you meet face to face with your prospects, you’ll be ready to close the sale. Jay Abraham, one of the top marketing gurus in the country, offers a similar, extremely effective program that he calls

Competitive Combat Coaching.

It is considered to be a more aggressive and productive way of looking at growing your successes and builds even more in his book, “Getting Everything You Can Out of All You’ve Got.” Tune in next post for the tools you are not using effectively.

How to Use “Mind Mapping” in Business Development

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

In order to successfully increase new business, clients need to learn how to use “mind mapping” in law firm business development. I often find gems like this when checking in with Jay Abraham from time to time. he is a marketing genius at getting down to basics. A recent find is his citing the mind map developed by Greg White of Phoenix Information Systems in Melbourne, Australia, and using it to focus on client retention.

The concepts presented in Jay’s book, Getting Everything You Can From Everything You’ve Got, and on the mind map are all used in our marketing workshops and professional development training sessions. For example, our business development workshops emphasize long-term-thinking. When it comes to approaching a new prospect or a long-tie client, we encourage our clients to:

* Understand the prospects’ and clients’ needs and internal pressures;
* Become a trusted advisor;
* Protect their interests.

Developing this mind map for each lead ourselves, we aim to become a valued friend, to offer rewarding solutioins that are profitable for everyone involved and we encourage our clients to approach their prospects in the same way.

There is No Such Thing As a Making a Cold Call

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

There is no such thing as a making a cold call in active business development. The resistance that some professionals have to business development isn’t unlike the distaste for wintery weather conditions – and a lot of it stems from a distaste for making cold calls. Cold calls imply a lack of control over the turns of the conversation, hint at feeling stuck – as though there are no other options for marketing and attracting new clients – and often fill one with a sense of dread over the fear of icy responses from the individuals called.

Let me suggest simple tactics to identify previously unknown prospects so that much “warmer” approach can be taken.

* Turn mistakes into a marketing opportunity;
* Examine your current relationships for additional opportunities within their organizations;
* Turn rejection into a future close ( see our next column);
* Ask good clients for referrals or introductions to their colleagues at non-competitive companies and agencies;
* Make at least 3 email/invitation contacts with suspects and prospects, highlighting firm briefings, new court decisions, etc.
* Ask to co-author an article on a subject of their interest;
* There are so many more, conduct a “post mortem” with your own collegues on marketing and business development efforts.