Register Today for LMA Tech West – October 5 & 6, 2016

The Legal Marketing Technology Conference is the largest conference dedicated to technologies that law firm professionals use to identify, attract and support clients.

Legal Marketing Technology Conference LMA tech west

Register today!

Join us for the full day conference on October 6, and the half day pre-conferences on October 5. Our pre-conferences include: Technology Workshops and a Lead Marketers’ Summit.

Agenda highlights:

  • Leading Law Firms through a Competitive Revolution (Keynote: Roland Vogl, CodeEx: The Stanford Center for Legal Informatics)
  • How CLOC is Changing Legal Service Delivery Models
  • How Law Firms Can Use Video to Reach New Clients
  • Data Visualization for Law Firms
  • Bringing your CRM Data, Legal Expertise and Pricing Data Together: The Future of Effective Legal Sales
  • Creating Efficiencies Through Marketing Automation: Principles & Practices
  • Dynamic Content via Deep Personalization – the next stage in email marketing
  • Using Livestreaming Video to Tell Your Story, Build Relationships, and Attract Clients
  • Blockchain ID and The Changing Face of Digital Identity

Registration

Save $100 when you register by September 15. To register, click here.

2016 Update to Top 25 Law Firm Website Clichés to Avoid

As a group, lawyers are quite literal, often too literal for good marketing.

As a result, more than half of law firms simply illustrate their website home pages with the obvious icons that represent the general concept of “Law,” like columns, jury boxes, striped books, rowing, and “Smiling Lawyers.”

The four most-prevalent explanations seem to be:

(1) “Our website developer recommended this.”

(You apparently hired the wrong developer.)

(2) “We didn’t know what else to do.”

(Then find someone who does.)

(3) “Well, if everyone else is doing it this way, it must be right.”

(Does your business card say “Lawyer” or “Lemming?” Stand out! Excel!)

(4) “No one hires us because of our website. It doesn’t matter what it looks like.”

(It’s a bit circular to create bad marketing, then say, “See, marketing doesn’t work.”)

Your marketing should set you apart. 

Good marketing can help you stand above the crowd.  It can show how you are different, or add more value than your lookalike competitors. But doing exactly what all the other firms do simply buries you in the anonymous middle.  Sure it’s “safe,” but safe doesn’t create market leadership.

Here’s a random accounting firm’s website, illustrated by tax forms, a calculator, eyeglasses, a pen, and paper with columns of numbers. Do you feel assured that their CPAs will find the innovative solution to your challenging financial issues?  Are you compelled to read the “About Us” section or click to learn about their Services?

(Really, think about it — how do you feel about their skills and creativity?)

Website, Design, law firm website

That is, if your website’s home page shows a skyline or column, aren’t you telling visitors that (1) your firm is average, and (2) there’s nothing worth reading inside?  If you want to claim to be an A-tier firm, then you must look like it — and a photo of a handshake, building, or chessboard won’t cut it.

There are no exceptions — unless you’re a Wachtell or Cravath. 

With their hard-earned reputations, they have nothing to prove. Bad marketing doesn’t hurt them as much as it does most other firms.  But keep reading if your firm doesn’t yet possess a Wachtellian level of credibility.

So here they are, the 25 most typical and tedious photos law firms use — followed by what I think these icons actually convey to the average website visitor.

The Top 25 Visual Clichés:

[The Image:]  1.  Globe/Map (Always featuring North America)

Globe, World

[What it means:]  “We did a deal in Toronto once.”

2.  Firm handshake (Usually diverse in some way. Rarely two white men.)

“We’re your partner.”

3.  Building (My favorite is when it isn’t even the firm’s own building.)

“I did it, Maw! I work in a building!” 

4.  Smiling lawyers (See “The Smiling Lawyers Website Trap” blog post here)

“We must be smart, because obviously we’re not photogenic.”

(The worst are the group shots. Play the “Find the most-uncomfortable lawyer” game.)

5.  Skyline (or alternating skylines, for firms with multiple offices)

“We work in a city!” 

(Is that a dispositive hiring issue? Has any prospect ever thought, “If I could just find a law firm that worked in a city — that’s the firm I’d hire!”)

Generic, City Skyline

6.  Gavel (often resting on a striped book)

“We’re small-firm lawyers with a cheap template website.” 

7.  Columns/Courthouse

“We’re a law firm — here’s our column.”

(Yeah, we get it. <yawn>.  This category also includes empty courtrooms and jury boxes.)

Court House, Columns

8.  Light bulbs (formerly incandescent, now they’re swirly energy-efficient fluorescents)

“We have good ideas.” 

(One such “good idea” might have been hiring a better branding firm. Just sayin’.)

9.  Chess pieces (the king is often laying on its side)

“We’re strategic.”

(Why is the king sitting in the middle of the board so early in the game here?)

Chess, Board

10.  Diverse conference room (Everyone is perky and gorgeous. There’s “one of each.”)

“We know how much clients value Diversity.  So we spent $25 on a stock photo.”

(Other “Diversity” options include flags, crayons, colored pencils, and a circle of hands.)

[That’s Part 1. We’ll detail clichés #11-25 next week in Part 2.]

Register Today for LMA Tech West – October 5 & 6, 2016

The Legal Marketing Technology Conference is the largest conference dedicated to technologies that law firm professionals use to identify, attract and support clients.

Legal Marketing Technology Conference LMA tech west

Register today!

Join us for the full day conference on October 6, and the half day pre-conferences on October 5. Our pre-conferences include: Technology Workshops and a Lead Marketers’ Summit.

Agenda highlights:

  • Leading Law Firms through a Competitive Revolution (Keynote: Roland Vogl, CodeEx: The Stanford Center for Legal Informatics)
  • How CLOC is Changing Legal Service Delivery Models
  • How Law Firms Can Use Video to Reach New Clients
  • Data Visualization for Law Firms
  • Bringing your CRM Data, Legal Expertise and Pricing Data Together: The Future of Effective Legal Sales
  • Creating Efficiencies Through Marketing Automation: Principles & Practices
  • Dynamic Content via Deep Personalization – the next stage in email marketing
  • Using Livestreaming Video to Tell Your Story, Build Relationships, and Attract Clients
  • Blockchain ID and The Changing Face of Digital Identity

Registration

Save $100 when you register by September 15. To register, click here.

Seven Ways a Blog Can Help Your Law Practice

blogFor many attorneys, maintaining a blog is like eating kale – we know it’s really good for us, but we just can’t seem to get all excited about it. But if eating kale was the best possible way to get your law firm coffers to overflow status, I bet you would be digging into a plate of it every day.

And so it is with blogging, which is one of the best possible ways for you to dramatically increase your lead flow, improve your firm website’s SEO and traffic count, and build a sterling reputation online – all of which can lead to a healthier bottom line for your firm.

Many attorneys I speak with feel they should be blogging, but are not really sure why. Here are 7 ways that blogging can help your law practice:

  1. Increase client engagement. A blog provides an opportunity for you to open a dialogue with prospects and clients and share with them more about who you are, what kinds of legal issues you can help them with, and why they should hire you.

  2. Improve SEO rankings. Blogs are the number one way to add new content to your website, which search engines like Google reward with higher rankings. Over the last few years, Google has favored larger websites with more content over small websites.

  3. Humanizes your firm. People don’t want to hire faceless companies. They want to know they are cared for personally. Blogs provide you with the opportunity to tell the stories of clients you have helped (leaving out their real names and identifying information to protect the innocent), and nothing is better for putting a human face on your law firm. Include videos in your blogs to really humanize your firm.

  4. Showcases your areas of expertise. Regular blog posts keep your website up to date and relevant, letting prospects know you are on the leading edge of emerging legal trends. You can highlight the areas you truly specialize in.

  5. Market segmentation. If your law firm includes more than one practice area, you can segment this more effectively by creating blogs for each specialty area and speak directly to those targeted prospects.

  6. Repurpose content. Your blog posts can be effectively repurposed for free reports, e-books and in your monthly newsletters.

  7. Build trust. Current research shows that 81 percent of U.S. online consumers trust information and advice from blogs.

ARTICLE BY Stephen Fairley of The Rainmaker Institute
© The Rainmaker Institute, All Rights Reserved

LinkedIn: A Lawyer’s New Best Friend

Linkedin LawyersWhile there are plenty of books written about social media, I’ve found that most attorneys have little time to invest in such trivial pursuits. I’m sure you’ve rolled your eyes a few times when perusing Facebook or Twitter and reading some of the material on those sites. Many of these negative opinions stem from reality, whereas others come from a disappointing lack of knowledge as to the sites’ benefits.

In order to effectively utilize social media, it’s important to recognize what you want social media to do for you. Are you looking to grow originations, develop a cult-like following, or brand yourself to get speaking engagements? By answering this question first, you can focus on investing your time in the most effective social media forums.

There are literally hundreds of social media channels to choose from. Being selective and focused on the right one will help you get results more quickly. For most attorneys, developing your brand in the business community is most important. In addition, you’re most likely to get results from a social media channel that allows you to be proactive in developing new contacts and ultimately new business. In my experience, the best and fastest way to get results using social media is through LinkedIn.

Over the past 10 years, LinkedIn has become the number one resource for helping brand and generate new business for service-based professionals. In many ways it’s better than Google because it’s a business networking platform rather than a general search platform. The ability to search and target people and organizations is unlimited.

LinkedIn is a fantastic brand-building tool that allows you to literally post your resume online. LinkedIn also helps you leverage your best contacts to make inside connections. Done properly, this can create a massive universe of followers, possible connections, and, most importantly, a cast of personal advocates willing to make quality introductions on your behalf.

Imagine being able to look at your client’s list of friends, vendors and associates prior to asking for a referral. You can search through LinkedIn’s 50 million users to find the best inside connections for you.

While there are hundreds of different tools on LinkedIn, I want to give you the top three keys to effectively using LinkedIn. As with anything that’s worthwhile, it’s imperative that you try to have an open mind and invest a few hours exploring the site to see where the value is for you.

The first key to effectively using LinkedIn is to create a complete profile that best represents your expertise and experience in your field of practice. The second key is to develop your LinkedIn universe by adding the right contacts. The third key is to leverage those contacts and turn them into quality introductions. These three keys should initially take only a few hours to implement, and then as little as an hour a week to start producing results.

The First Key: Writing a LinkedIn Profile That Represents You Beautifully

In order to be effective on LinkedIn, you must have a professionally written and completed profile. Think of your LinkedIn page as your online resume and personal website. If the information online is incorrect, incomplete or poorly written, it might stop someone from reaching out to you.

Imagine you’re looking online for a remodeler for your home. The first site that comes up on Google looks fantastic. You click through to see some of the remodeling work the company has done, and the site says, “Sorry, cannot open this page.” So you try another one. The same message comes up. If you’re like me, you’re done at that point. You just move on to the next search result. This is exactly what happens on LinkedIn without a skillfully written and finished profile.

Here are three tips to ensure your LinkedIn profile makes you look your best to potential clients and strategic partners:

Tip #1: Use a recent professional photograph on your LinkedIn page.

Most people are visual and want to see whom they’re going to be speaking with. As important as content is on a website, you’ve never seen an exceptional one without images to back it up. Use the photo from your website if it’s good, or get a headshot taken right away. It’s not hard to do and it can make all the difference when someone is checking out your profile. This may seem obvious, but don’t post a cutesy picture with your kids, pet, or Halloween costume.

Tip #2: Have a professionally written background/summary.

Since your LinkedIn profile will be someone’s first impression of you, failure to capture the reader’s attention can move the reader quickly away. Personally, I like to see a summary written in the third person. It has the appearance of someone else boasting about your successes and best qualities without seeming egotistical.

If possible, keep your profile to three solid paragraphs. I enjoy reading profiles that read a little like a story. The first paragraph pulls you in. The second gets you familiar with the character. The third wraps things up and motivates you to take action. It might make sense to look up some other attorneys in your practice area to see what they’ve written. This will help you identify the best profile style for you.

Tip #3: Develop a strong list of skills that best represents your expertise.

If you take a few minutes and search some of your colleagues and competitors, you can quickly begin to formulate such a list. For example, an estate planning attorney would want to have the words “wills,” “trusts” and “estate planning” listed among his or her skills, thus enabling people searching for an estate planner to more easily find the attorney.

Once your skills are posted, people in your network will then have the ability to endorse you. Essentially, when you have a skill that someone agrees with, they’ll endorse you for that skill. While this might seem like “fluff,” it’s an important factor that people use to determine who are experts and who are not. For example, if you had to choose between two referred doctors, one who has hundreds of positive endorsements on LinkedIn and one who has none, which would you choose? While this might seem insignificant, in the competitive legal environment everything counts.

Read Part 2 here: LinkedIn for Lawyers – Strengthening Your Circle by Establishing the Very Best Connections Part 2

Read Part 3 here: Effectively Using LinkedIn for Lawyers: Going Beyond Connecting and Turning LinkedIn Relationships into Better Introductions Part 3

Copyright @ 2016 Sales Results, Inc.

Gamification in Thought Leadership; not Just a Game: Education, Good Habits and Competition

gamification in thought leadershipFor the past few weeks, Pokémon Go has been a conversation starter.  The game has made headlines for getting kids out of the house bike riding and taking walks, and everyone seems caught up in the craze.  If you’ve been to a museum, or a park, or a shopping mall lately, you’ve most likely seen people bent over their phones wandering around talking about Pikachus and Rattatas. If the game has taught us anything, besides the location of the nearest PokéStop, it’s the motivational power of games.

It’s no secret that it can be a challenge to get attorneys to commit to a thought leadership strategy. It takes time away from billable hours and it can take awhile to see results. One intriguing strategy is gamification—game mechanics applied to non-game situations to encourage users to behave in a certain, desired way—to get marketing initiatives off the ground. Heather McCullough1 of Society 54 is an expert on gamification platforms, so NLR reached out to her to get our questions about gamification and thought leadership answered.

An important ingredient in any gamification initiative is buy-in. Heather says, “It is important to have an internal champion who will help to lead the effort and encourage participation. I have seen time and again efforts fail because they are being led by the Marketing or Business Development department with little to no visible support from management or other attorney(s).”  It is key that firm leadership indicate their support for the efforts, and nothing communicates that better than consistent, active participation in the efforts.  This visible approval and leadership can help encourage buy-in.  Having an enthusiastic participant in a leadership role can encourage participation firm-wide. This helps get the ball rolling before the fun of the game –and the spirit of competition– takes over.  Heather shares, “ We have a client whose managing partner is the champion for their gamified business development efforts and he communicates regularly with the attorneys about the competition – who is doing well, who needs to improve and then sharing some best practices which can help everyone improve their efforts. This firm not only seen tremendous buy in from the attorneys but also are realizing real monetary returns from their efforts.”

McCullough made it clear that any gamification strategy had to be clearly thought out—it is not just a game. It is important to understand your goals: what do you want the final product to be?  McCullough  says, “It is incredibly important to know what the firm is hoping to accomplish with the increased effort around writing thought leadership and design the gamification strategy with that at the center.”

For a thoughtful, effective, educational gamification strategy, it’s important to remember the unique challenges of thought leadership development, as well as the best practices for content.  Folding good thought leadership principles into any game is an important tool to maximize the efforts.  Heather says, “When we design gaming platforms for our clients, we always include thought leadership efforts into the activities available. . . this includes research, writing, publishing, repurposing and educating his/her peers on the issues discussed.”  Breaking down a large task—like writing for a blog—into smaller pieces—and rewarding those pieces can make it easier to get started.  If it’s easier to get started, more content is created.  Additionally, breaking the process down allows attorneys to see opportunities to create content on their own, again increasing the amount of content produced.  As McCullough points out, “The effort of writing is most important because there are many avenues to distribute content, even simply adding it to the individual attorney’s bio. With more content for a firm to choose from for distribution, the success will come.”

Creating thought leadership can be a very solitary process–but that doesn’t mean that it can’t get competitive. Heather says, “Attorneys are amazingly competitive and while the actual act of writing is a solitary endeavor, game-like elements can be incorporated into the process and competition can happen among the individuals and points can be awarded for a variety of different components.”  What those components are can be up to the individual goals of the firm–but it is a solid strategy to reward good habits so the game encourages good habits–and also educates attorneys about what those good habits are.  For example, McCullough says,

There is a plethora of ways that writing can be rewarded and rewarding for the attorneys involved.  For example, writing for a business audience vs. a legal audience (no legal-ease, please), keeping the article under a certain number of words, writing one article and then providing the specific content that can be used on various platforms (e.g. condensing the message to 140 characters for Twitter and also providing a solid synopsis to be included on LinkedIn), or co-writing with an attorney from another practice area.

Along with encouraging behavior, gamification is a great way to encourage attorneys to educate themselves about good practices.  Heather says, “I believe that you could use gamification elements, such as badges and status symbols, to ‘reward’ attorneys for participating in educational sessions. Additional badges and status symbols could be provided to attorneys who chose to lead the educational sessions which encourages enhanced participation and preparation.”  The educational sessions are great chances for top-content producers at the firm to share their secrets, and to share the firm’s overall strategy for content production.

As with any initiative, gamification is not something to set into motion and then walk away.  It requires nurturing and re-evaluation to make sure your original goals are still being met by the game.  Heather says, “Many companies who have used game elements to improve or increase desired behaviors have reported  fantastic results. The gamification aspect served to not only motivate the individual(s) initially but also proved to help sustain the efforts longer term. That being said, there is a natural fatigue that happens with any new effort so steps should be taken to regularly shift the parameters of any of game, reset certain elements and also maintain consistent dialogue with participants to uncover areas of improvement.”

Understanding your goals and defining them can simplify the design process and bring your efforts to bear on the behaviors you want to encourage.  The sky’s the limit–creativity is a tremendous asset in designing a gamification program, and generating something that helps meet your needs and brings fun, excitement and competition into the firm is completely within reach.

Copyright ©2016 National Law Forum, LLC

Heather McCullough is Certified in Gamification by the University of Pennsylvania Wharton School of Business.  She has spoken about Gamification within law firms, along with her business partner Jill Huse, from coast to coast.  The National Law Review had the opportunity to hear Heather and Jill speak at the recent LMA Midwest Legal Marketing Technology Conference.

5 Ways to Use Email Drip Campaigns to Convert Leads [INFOGRAPHIC]

Is everyone who calls your law firm ready to hire you right away? If someone downloads a free report from your website, does that mean they are ready to commit to hiring you? Not likely. In fact, research shows that more than half of leads are not ready to buy at the time of first contact, which is why you need to nurture those leads along a specific path to becoming a client using email drip campaigns.

We have used drip campaigns for years for our clients for one simple reason: they work! Research shows that companies that are good at nurturing leads enjoy 50% more sales at a 33% lower cost than companies that put no effort into lead nurturing.

Since email is a one-to-one communication, it can be personalized for whatever stage your lead is in the buying cycle. It is much more effective than blast email campaigns that don’t take your prospect’s buying journey into account. In fact, personalized emails generate up tosix times higher revenue than non-personalized (blast) emails.

This infographic from Eliv8 provides five different email drip campaign opportunities to help you increase your lead conversion rate:

5 Ways to Use Email Drip Campaigns to Convert Leads

© The Rainmaker Institute, All Rights Reserved

Habits of the New Legal Consumer [INFOGRAPHIC]

A few months ago, Avvo released the results of a survey it had done of 1,000 consumers who purchased legal services to discover what attorneys need to know today about the new legal consumer.

The Avvo study offered a three-point description of today’s legal consumer. They are:

Informed — access to legal information online has made consumers more savvy than ever about the options available to them. They are reading legal articles, researching their particular legal issue, researching an attorney and visiting legal forums online.

Connected — people now have immediate access to other legal consumers online and they are reading reviews about others’ experiences with attorneys.

Picky — consumers know there are a number of different ways to purchase legal services, including online forms, fixed fee options, etc. They are increasingly attracted to unbundled services, an ala carte solution for their legal issues.

The survey highlighted the online resources that consumers who are searching for an attorney value most. These include:

  • Website with actual cases, laws or court decisions

  • State of other government site

  • Non-government legal resource site

  • Online legal directory

  • General consumer review site

  • Forum or community site

  • Site with online forms

  • Social media site

  • Blogs

In addition, 95% of the consumers surveyed said that reviews matter in helping them decide who to hire.

new legal consumer

© The Rainmaker Institute, All Rights Reserved

Wasted Time and Money: Top 10 Ways Firms Squander Precious Marketing Resources

effective marketing top 10At the conclusion of a recent presentation I gave to a local bar association, an attorney in the audience asked how law firms are wasting their marketing dollars. “After all,” he said, “our firm only has a limited amount of money for marketing, and I want to make sure we are spending it wisely.” I was honest, and told him that, in my opinion, many fine firms are squandering their marketing dollars by the bucketful. And it’s often in the same familiar ways.

Let me begin with the assertion that, for most lawyers and law firms, effective marketing is all about personal relationships. It’s not about brochures, advertising or other marketing gimmicks. It’s especially about relationships with existing clients and referral sources. Consequently, I almost always recommend that a law firm begin “marketing” by making darn sure its clients are satisfied. If they are, they’ll be loyal to the firm and come back when they need legal counsel. Beyond that, they’ll tell their friends and business associates about you. Too often, firms get caught up chasing prospective clients, forgetting about solidifying and expanding relationships with the clients they already have.

After ten years of experience marketing legal services, I have developed some strong views on what firms are doing right and wrong. But before writing this article, I thought I’d post that attorney’s question to the 1,000-member law marketing listserv, a cyber-community of law firm marketing directors and consultants. The responses came back fast and furious and I’d like to share our collective opinions with you.

So here we go – the “Top Ten Ways To Waste Money Marketing Your Practice,” in David Lettermanesque ascending order of wastefulness.

#10 – Random Acts of Golf and Lunch

Golf and lunch are fine marketing activities, very conducive to relationship building. But playing golf with an endless array of acquaintances who don’t have the ability to hire or refer you is hardly an effective use of your marketing time. Nor is that monthly “skins” match with your brother-in-law and his drinking buddies. The profession’s top rainmakers have a plan — even if only in their heads — when they go on their boondoggles… er, I mean, marketing ventures. They have determined who they want to get to know better and, from there, they develop a systematic plan to go about building and enhancing relationships with them. The key word is plan.

#9 – The “Really Big Show”

Reminiscent of Mickey Rooney and Judy Garland deciding to “put on a show,” your firm decides to present the mother of all seminars. Over 300 people spend a half-day listening to you and your partners talk about the latest changes in state law. It was great. Problem is, there was very little follow up. When it comes to seminars and similar events, we suggest that you consider smaller, less formal and more interactive sessions. Think about a seminar series, focused on a particular industry, where participants get together repeatedly. This way, the follow-up is built in. Wasted Time and Money.

#8 – Other One-Shot Wonders

Come to think of it, forget about any marketing activity that does not include follow-up. All the marketing events that your firm sponsors — seminars, open houses, holiday parties, and the like — should be looked upon as relationship building platforms. And personal follow is the key to making them work. All participating attorneys should follow up with at least two or three people at each event, focusing on folks who can help them achieve their objectives.

#7 – Brochures and Newsletters That Cure Insomnia

Good brochures and newsletters have their place among effective marketing tools. But who wants to read mindnumbing tomes about the history of your firm and its 14 practice areas? Not me, and not your prospective clients either. Keep the copy concise and easy-to-read. Use bullet points whenever possible. Hire a talented graphic designer who will produce sharp, attention-grabbing marketing material.

#6 – Invisible Advertising

No doubt, print and broadcast advertising works for attorneys with consumer-oriented practices (like family and personal injury law) and I’d recommend an ad in the Yellow Pages in a heartbeat. But things like traditional “tombstone” ads and “one-time” ads in a newspaper or magazine are practically worthless. Studies show that it takes 7-11 impressions before somebody will recall seeing your ad. Consistency and frequency are essential. Here again, hire a good graphic designer and stay light on copy to make sure your ads are noticed. If you want to advertise, do it right.

#5 – Holiday Chochkes

Ahhh, the holidays. Talk about getting lost in the shuffle! Effective marketing strategies get noticed and stand apart from the crowd. The holidays are far too busy a time for your cards, parties, and gifts to be fully appreciated. However, if you must send holiday cards, by all means, sign them personally!

#4 – Directories, Directories and More Directories!

Over the past ten years, law firm directories have sprouted like cattails in the Everglades. Unfortunately, most have little marketing value. Decision-makers simply don’t use them very much. In fact, our friends on the listserv think that only a few directories, such as LawOffice.com, Martindale-Hubbell and Best’s (for insurance defense counsel), are worth the money. Bottom line….hold on to your cash.

#3 – Vanity Letterhead

We’re talking about the kind that features every lawyer’s name on the masthead. Every letter becomes two-pages long, and each time a lawyer joins or leaves the firm the old supply gets chucked and a new supply is ordered. Often, the new letterhead is out of date even before it comes back from the printer! Most firms have abandoned this practice and yours should, too. Consider adding a snappy firm logo and/or a splash of color. Don’t worry, it’s OK.

#2 – PPPPs (Powerful Partner’s Pet Projects)

Our #2 money waster was sent in by Bev Davis, chief operating officer for a well-known Oregon law firm….and you know exactly what she’s talking about! The firm’s $5,000 contribution for a table at the “Belles of the Confederacy” Dinner Dance, for example. Powerful Partner Jim thinks it’s a great idea. (So happens his wife is on the Board of Directors.) PPPPs are rarely budgeted and are hardly ever consistent with firm-wide marketing objectives. They tend to consume vast quantities of money and staff time. A firm-wide marketing plan goes a long way toward reducing the number of PPPPs. Show Jim the plan and just say no!

#1 – Consultants Who Don’t Know **** About Law Firms

Law firms are a different kind of beast — big egos, lots of democracy, convoluted compensation systems and, in many cases, a disdain toward marketing. Yet, I see it happen time and time again. “We hired Sally because we liked the work she did for our big banking client. But she never could manage to implement much of anything around here.” When it comes to building consensus for a new idea or getting people to focus on non-billable activities, there is nothing quite like a law firm. It takes someone who’s been there to make it happen. If you decide to hire a consultant, hire somebody who has a successful track record working with law firms like yours.

Well, that’s it for now. I hope you enjoyed this round-up of marketing blunders. Perhaps you recognized one from your own firm’s recent efforts on the list. My objective was to help you think about how you and your firm can more wisely spend your marketing dollars. After all, you have limited resources. My best advice….develop a proactive, firm-wide marketing plan. See you at the 19th hole!

Copyright 2016 The Remsen Group

Law Firm Business Strategies: 4 Keys to Breaking the 7-Figure Barrier

It’s no surprise when laid-off lawyers or law school grads who can’t find a job hang out their own shingles, but there are even more attorneys heeding the siren call to start up their own firm in order to achieve a better work-life balance (if that even exists).law firm marketing business strategy

You may feel at times that starting a law firm is counterintuitive when it comes to finding balance in your life. However, if you build it right, running your own firm can be a highly satisfying way to employ yourself and serve clients the way you’ve always wanted.

I have personally trained over 18,000 lawyers on how to manage and market their firms more efficiently and effectively. I have probably helped more attorneys break the seven-figure barrier in revenues than anyone else. I’m not telling you this to brag, but to share with you the keys to breaking the seven-figure barrier based on my experiences.

Key #1:  Run your law firm like a business.

You studied the law as a noble profession, but to break the seven-figure barrier, you must run your law firm like a business. As a solo practitioner or the owner of a small law firm, your primary focus – after gaining competency as an attorney – is to understand and apply the key principles of business development, operations, management and law firm marketing every single day. There are 10 major parts every successful law firm owner must focus on – in this order:

Marketing: The purpose of marketing is to generate leads. There are a wide variety of ways to do this. All of them work, but they are not always suited for all situations, practice areas or attorneys. Find three-five different ways that work for you and use them frequently. Not every attorney will be a top Rainmaker, but everyone can do something to grow and market his or her practice.

Sales: The purpose of sales is to close the deal or sign up the client. Once you start generating leads, you must become better at getting prospects to become paying clients.

Services: Once you have become proficient at generating leads and closing the deal, you must perform the services for the client. When you fix your marketing, then you have a sales problem. When you fix your sales problem, then you have a services problem. See how this works?

Staff: When you become successful at marketing and sales, eventually you will also need more staff to do the work. You cannot hire just any staff; they must be the right staff for you. What kind of culture do you want your firm to have? Who will best fit that culture? Develop a list of qualities and characteristics you need your team members to have.

Systems: Policies, procedures and systems allow you to scale to the next level. Without written systems you cannot scale your business. You will hit a breaking point. It may be at half a million or more, but eventually you will experience a lot of unnecessary pain and suffering because you didn’t invest in creating written policies, procedures and systems for your law firm. You need written systems for every major part of your business. From marketing and intake to money and metrics, it all must be logically written down so even a brand new team member who knows nothing about your business can follow it.

Space: After you start hiring the right staff because you have more clients to serve, eventually you will need more office space to house them. Far too many attorneys get caught up in renting a much bigger or nicer space than they can afford in an attempt to “keep up with the Joneses” or give off the appearance of being more successful than they are. The pleasure you may gain from a fancy office is nothing compared with the worry of making those big payments every month. Don’t strap yourself with too many financial obligations and be careful about signing longterm agreements, especially when you’re just starting off.

Money: Very few attorneys went to school to become a bookkeeper or an accountant, but to manage a growing business you must know how to manage your money. You need to know the basics of finances for small business, from reading a profit and loss statement to analyzing your cash flow. Being an owner means other people are depending on you to manage the money wisely.

Metrics: To consistently break a million dollars per year in revenues, there are over a dozen numbers you must be monitoring and measuring consistently. Here are a few of them – unique website visitors each month, leads per month, average cost per lead by marketing channel (PPC, SEO, TV, radio, print, etc), appointments your team sets per month, show up rate to your appointments, conversion rate for initial consultation by attorney, average cost per client acquisition by marketing channel, cost of goods sold (COGS) per practice area and profit margin per practice area. This is not a comprehensive list, but if you know, measure and track each of those metrics every month, you’re on your way to comprehensively monitoring your business.

Strategy: While having a great strategy is necessary, most attorneys spend too much time developing a strategy and too little time implementing the strategy! Get some leads in the door. Make the sale. Collect the money. Do great work. Obtain some referrals. Wash, rinse and repeat! Then work on your next level strategy.

Self: Upgrading yourself is the last, but most important step. You need to read business growth books or take classes or seminars if that fits your style of learning better. Hang around other successful business owners. Join a mastermind group of successful attorneys. Push yourself outside of your comfort zone. You will never build a multimillion-dollar law firm by staying inside your comfort zone.

Key #2: Focus on a Niche

When you’re in the startup phase (from $0 to about $250,000), you face a never-ending challenge of taking whatever business comes in through the door in order to pay the bills or concentrating on one area to build a niche practice. It becomes a question of short-term focus versus longterm survival – and I realize that most solos need to balance both in order to make it.

However, the faster you can start focusing on one to two practice area niches, the faster you will go from having a job ($0 to $500,000) to creating a practice ($500,000 to $1M). When people see you as a jack of all trades (the generalist approach), they also perceive you as the master of none. People will pay more for a specialist because they see you as an expert. People will refer more to a specialist because they aren’t afraid of you stealing their clients or competing with them. Contrary to popular belief, this approach does not limit you. It helps to focus your marketing and business development efforts.

There are many ways to select a niche, but it must be small enough to be realistic, yet big enough to have enough potential clients in it. For example, being No. 1 divorce attorney in all of the Phoenix metro area is not realistic. There are far too many entrenched and successful competitors to ever achieve this. However, you could be the No. 1 divorce attorney for entrepreneurs and small business owners in the East Valley. Here are a few other ways to select a niche:

  • ServiceNiche: DUI attorney for licensed health care professionals; estate planning and asset protection for doctors and dentists; tax attorney for the self-employed; business transactional lawyer for real estate investors; business immigration law for the hi-tech industry; business law for health care providers; and IP and trademark lawyer for small business owners.

  • Industry Niche: Technology, agriculture, doctors, transportation, restaurant owners, manufacturing, construction, energy, or real estate development.

  • Geographic Niche: Phoenix, Gilbert, Tempe, Chandler, Scottsdale, or the East Valley.

  • Specialty Market Niche: Privately held companies, Fortune 500, physicians, white collar executives, blue collar construction workers, franchise owners, bicycle accidents, fitness centers, Spanish-speaking clients, developers, or commercial lenders.

Review your top 10 client list (either by amount of revenue/fees generated or in terms of how much you enjoy working with them). Then, look for any similarities. It may not be apparent at first, but keep asking questions and you will find it. Building a niche around a solid client base is one of the fastest ways to differentiate yourself.

Read Part 3-Law Firm Business Strategies: 4 Keys to Breaking the 7-Figure Barrier (Part 3 of 4)

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