In a few days, you can download or purchase
THE NEW COLORS OF LAW FIRM MARKETING –
the world’s very first law firm marketing coloring book.
Are you ready to learn marketing from a whole new perspective?
“I always miss the new litigation” is one of the most self-sabotaging excuses for not marketing that I have heard from attorneys. It is easy to solve. You and your practice group attorneys need to monitor court decisions, pending legislation, and new litigation theories. Lawyer marketing means keeping your clients and prospects ahead of economic and industry trends. Invite the marketing and library professionals to engage. Assign your law firm practice group members to tracking journals, organizations, and media and report.
As Sir Richard Branson is fond of saying, “Opportunities are like buses. If you miss one, another will be coming along.” [If you keep your eyes open.]
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.”
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
Client trust is perhaps the greatest element in business development. Or to put it another way, why should they buy from you? Although you may be selling the most sophisticated service, your audience may harbor a deep dread of being manipulated.
The solution, then, is to confront that tacit distrust by building client trust as a major focus of your business development efforts. When we work with clients and developing their business generation strategies and tactics, we teach them to build relationships with their prospects. And by understanding their business, and the market place dynamics, (competitors, recruitment, growth strategies, etc.) one will demonstrate the knowledge that converts into client trust.
“Partnering” has become a byword in sales strategies so we should define and pursue that kind of relationship “partnering = trust.” In establishing your client relationships, you have taken pains to assure them that you are fully attuned to how their business operates, including the need for confidentiality, for ethical compliance, for client-specific sensitivities whatever they may be. At the same time you have sent the message that, if anything, they have an obligation to at least consider the latest advances in client services that you offer.
You have thus reversed the burden from worrying about dealing with you to worrying about what might happen if they don”t!
Closers Group recently appeared in the Law Journal Newsletters. Our article “New Business Development Harvest” appeared in Sales Speak of Marketing the Law Firm.
Almost every day there is an advertisement offering a service or product that is new or improved, such as Will Your Dog Eat the Dog Food? Or Have you tried our new combination of juices? And even Take our test drive for free??? And believe it or not, selling a new service, entering a new market place, or offering reminders of what your firm does so well, are managed and marketed in much the same way. In law firm marketing or business development for consulting services, recognize you are entering a new “beachhead” market.
“But we are professionals, and not selling hard goods.” Yes you are, but new business development for professional services such as law, accounting, architecture and engineering have the same elements needed for success. To quote Bill Aulet (author of Disciplined Entrepreneurship), “. . . before you invest large amounts of time and money, make sure the dogs will eat the dog food! And, oh yes, make sure the dog’s owners (or friends or primary/secondary clients) will PAY for the dog food.”
Referring back to previous columns, remember you should have already:
This test marketing for law firm marketing, accounting firm business development, consulting services new business growth is critical. Prior to a full launch, you must determine if prospects and clients will engage your new or refined services and actually pay for them. Are they working as intended? Are clients referring new prospects to you? Is your team consistent in their business development efforts and presenting the same core story? Are you seeing trends to take advantage of or are they leading to unexpected challenges?
The final step will hopefully be following your beachhead success and refinements. The new business development efforts will be successful.
The second theme focusing on new business development in Bill Aulet’s Disciplined Entrepreneurship is “What Can You Do For Your Client?” Once you have taken the first steps outlined in Part I, identifying who your client is, Aulet says you must now identify what you offer of value. These include:
To receive more details on creating value in a highly competitive market place, contact us.
As competition for legal services increases, non-equity partners are being challenged to “grow your practice.” In more and more firms, marketing and business development efforts are being intensified and carefully measured for new revenue origination.
Those who succeed have not only applied law firm marketing coaching and advisory support, but now understand how to achieve:
These 5 and other components of accelerating new revenue and fee origination are designed to help grow your practice by transforming your ability to market and closing multiple new opportunities.
For a complimentary consultation on growing your practice and accelerating your new business, please contact us for a free consultation.
In our last post we began a discussion of Bruce Tuckman’s 4 phase path for teamwork – “forming, storming, norming and performing” and how it applies to accelerating new business development. When “storming”, people start to push against the law firm marketing and business development programs that are identified in the “forming” stage. This is often the stage where many teams fail and firm management may give up. Storming frequently begins where there is conflict between team members’ natural working styles. But if these working styles cause unforeseen problems, the individuals may become frustrated and loose the proximity to the “accelerator zone.”
Other storming situations may occur if team members challenge your authority or jockey for position as their roles are clarified. Some may question the goals and resist taking on tasks.
Next column will cover “norming” and how this stage impacts law firm marketing and business development.