Tag: law firm

How to Measure Your Email Marketing Performance

The Rainmaker Institute

Email newsletters have proven to be one of the most effective methods for attorneys to market themselves to prospects, clients and referral sources.  Every year, email marketing service provider MailerMailer provides a report on email marketing metrics across 34 different industries, including Legal.

They have just issued their 2014 report, based on data gathered from 62,000 newsletter campaigns totaling 1.18 billion emails sent between Jan. 1, 2013 and Dec. 31, 2013.  Here are the results — and what should be your new benchmarks — for your law firm newsletter:

Open rate (what percentage of your recipients opened your email):  13.5%

Click rate (what percentage of your recipients clicked on a link in your email)::  1.6%

Click-to-open rate (of the recipients who opened your email, what percentage of them clicked on a link):  11.8%

Bounce rate (the percentage of emails that cannot be delivered):  2.4%

Every email service (Constant Contact, Mail Chimp, iContact, etc.) provides these statistics for each newsletter you send out.  If your newsletters are not delivering at rates that meet or exceed the benchmarks above, you have a problem.

Here’s what you should consider to improve your click, open and bounce rates:

Are your subject lines engaging to entice people to open your email?  Short subject lines — 4 to 15 characters — generate the highest open and click rates.

Are you sending emails on the right day and at the right time?  The highest open rates occur on Mondays and the highest click rates occur on Sundays.  Open rates peak during the early part of the day, between 8 a.m. and noon.

Is your email list updated regularly and cleaned of old, undeliverable email addresses?  Bounce rates are inescapable but can be improved if you send out emails on a regular basis.

Have you segmented your email list so you can tailor your content to your different audiences?  Targeted emails deliver 18 times more revenue than general blast emails.

Are your emails personalized? Personalizing the message content can boost open rates significantly.

Do you use a responsive design template so your emails are displayed properly for every screen size?  More than half of emails are now opened on mobile devices.

If your newsletters are performing at or above these benchmarks, you may still have some work to do: if you don’t know the source of your success, you can’t repeat it.

ARTICLE BY

Stephen Fairley
OF
The Rainmaker Institute

A 10-Point Health Check for Your Law Firm Marketing

The Rainmaker Institute

A legal news aggregation website called LawFuel.com recently ran a post with a 10-point checklist of how law firms can gauge the health (and effectiveness) of their legal marketing programs.

Here’s the list — how are you performing?

1.  Does your firm encourage cross-selling among attorneys?  If you have multiple practice areas and lawyers who specialize in each area, then those lawyers should be cross-selling your services.  Make sure all your attorneys understand your total offerings.

2.  Is your staff involved in marketing?  Your legal marketing efforts should touch every member of your staff, who are your ambassadors to pass along your expertise to their contacts.

3.  Do you have a program for keeping in touch with former clients?  This is a no-brainer.  Add them all to your monthly e-newsletter list and establish a system for sending out keep-in-touch emails that doesn’t require any babysitting from busy lawyers.

4.  Are all your lawyers engaged in business development?  If not, implement a training program on your marketing messaging and encourage them to get out and network.

5.  Is your website current?  An out-of-date website tells prospects that your firm is out of date.

6.  Is anyone managing your online reputation?  Reputation management is critical for law firms.  You should have this task assigned to someone (internal or external) who regularly conducts online searches for your firm name and attorney names. If something bad pops up, you should have a process for dealing with it effectively.

7.  Are all your attorney bios up to date online?  Every attorney should have a complete and current bio with a professional photos on LinkedIn, Avvo, Martindale, etc.

8.  Do you have a blog?  A blog is one of the best ways for you to market to your niche, highlighting your practice areas and pumping out fresh content that showcases your expertise in each.

9.  Are you providing added value to clients?  Providing clients with value above and beyond what they are paying for will keep them coming back.

10. Are you micro-managing the client experience?  Do clients have to wait when they show up for an appointment?  Are you offering them something to drink and making them feel at home?  If not, you need to take another look at how your firm treats clients because they are measuring you not just against other law firms but against every service provider they know.  And if they don’t like the fit, they won’t be back.

ARTICLE BY

Stephen Fairley
OF
The Rainmaker Institute

Six Ways to Build Momentum in your Practice

We have all ‘been there’ finding ourselves too busy with client work to breathe and then the rollercoaster heads downward and we’re searching for new projects. It can be challenging to devote any time to developing new work when your plate is already full. But, what happens when we’ve eaten what we’ve killed, proverbially speaking?

I work with law firm clients consistently who voice the same complaint: “I’m so busy, until I’m not.” This common thread began my wheels turning on how to stabilize the perennial ebbs and flows of business development and how, if at all, can lawyers take proactive steps to get and keep momentum in their practices.

At the outset, I will directly state that those who engage in random acts of marketing such as sporadically reaching out to their network; infrequently scheduling coffee/meal dates with top clients; and other high impact business development initiatives need to just stop it – – – now. It’s a waste of all your resources and, in the end, doesn’t reflect well on you as a business owner. Instead, I offer a better approach: development and maintain a balance approach by creating momentum to your business development efforts.  Read on to learn what you need to know.

Word of the day: momentum. Webster defines it as the tendency of an object to continue movement in a single direction. And, the speed of the movement increases in exact proportion with the degree of momentum. If the speed is very slow, there will not be much momentum, period.

When lawyers genuinely invest in building a prosperous practice, one of the quickest ways to get there is by focusing your time and energy on the concrete steps that matter most: delivering extraordinary service to existing clients (to sow the seeds for recurring assignments) and targeted relationship-building to develop new clients and referral sources.

By taking concrete action in a meaningful and purposeful way, you will generate a certain momentum which must be sustained to build traction with your business development efforts. The more you can ‘just do it’, the more and more momentum you will build, the more comfortable you will be with doing that activity or task, and the more productive and effective you will be – closer to reaching your end goals.

What we often see with clients if they may begin on a high note, commit themselves to one or two business development initiatives, then they really struggle with sustaining the momentum and follow through which is critical to building a prosperous practice.

In short, the momentum is stunted and whatever traction the client created is lost. Among the value that we bring to clients, guiding them along in the business development strategy and execution process and holding them accountability is highly rated, according to our client feedback.

Below are steps lawyers can take to create momentum in building a prosperous practice and sustain it over the long term:

1. Plan for Success – Once and for all, stop the random acts of marketing that wastevaluable resources and, most likely, ends up making you feel like you are failing. Develop a 6-month plan by writing down concrete action steps you will take on a weekly, if not daily, basis to meet your goals (sometimes, getting crystal clear on your goals is the first place to start).

Then, schedule these concrete action steps (such as reaching out to 2-3 referral sources every week for either a coffee date or lunch/dinner; draft a blog post twice month, etc.) in a calendar, whether that is paper or digital, do what works best for you. These should become “non-negotiable” commitments that you will honor and discipline yourself to take. Don’t be shy to reward yourself after each action that you take.

By taking consistent, persistent action on a regular basis, you will create momentum; it’s not good just making an activity a ‘one-off’. One must take purposeful action regularly to build and sustain momentum to carry through to your goals. To make something happen routinely we need to be persistent. Persistence is what separates the men from the boys. Education is great, high intelligence is better, but, it takes a persistent approach to build momentum and build a business.

2. Get Moving – Start reaching out according to your action steps. Begin researching blog topics. Research your LinkedIn connections for prospective introductions. Choose one action item that will contribute to one of your goals and take immediate action. Get moving, today.This means no postponing, no delaying, no procrastinating, no excuses.

3. Stay Focused– Remind yourself of your goals every day and stay focused on them. Post visual reminders on your mirrors at home, on your computer screen at work.  When you find yourself distracted by something that is not directly in line with your goals, ask yourself, “Why?” Identify how you will manage future distractions and look for ways to eliminate them.

4. Stay Active– Do something every day that will bring you closer to your goals. It need not be big – it must be consistent and persistent. If too many days pass between actions, momentum will dwindle and eventually die.

5. Avoid Paralysis by Analysis– Nothing slows momentum more than indecision. Decide as quickly as possible and then take some immediate action to support the decision – no matter how trivial it seems.

6. Seek support- Many successful rainmakers say that you must have an insightful coach and trusted advisor to guide you along the way. Build a strong team of supporters to help you to get and stay focused and to support your desire to bring cohesion and build a strong momentum to your business-building vision. All things are possible, if you keep your eye on the goal.

Remember, my mantra – marketing success comes only through the consistent, persistent massive amounts of action over a prolonged period of time.  There are no magic bullets or shortcuts to success!

© 2013 KLA Marketing Associates.
ARTICLE BY

Kimberly Alford Rice
OF
KLA Marketing Associates

Grow Your Email List for Free in 5 Simple Steps

The Rainmaker Institute

Lots of law firms struggle with compiling and maintaining a robust email marketing list, and they really struggle with how to keep adding qualified names to help them build a better list.  If you are recognizing yourself as you read this, then the good news is that you can actually build a great list for your firm and it doesn’t need to cost you a dime.

Here are five simple steps you can take to keep growing that important list of people you want to market to:

Grow Your Email List for Free in 5 Simple Steps, Money Tree

1.  Provide something of value.   Take the top 5 or 10 questions that clients ask you most often, write down the answers and turn that content into an e-book or report.  Post this on your website and blog and offer it as a free download to people who provide you with their name and email address.  The people who take you up on your offer are good prospects since they are clearly interested in the kind of problems you solve.  Add their names to your email marketing list to continue the conversation.

2.  Tell them what to do.  Your e-newsletter, your website and your blog should always contain easy-to-find calls-to-action that invite readers to subscribe, download a free report, make an appointment for a free consultation — anything you’d like them to do that could lead to business for you.  All your calls-to-action need to be simple and have the ability to collect email addresses for you.

3.  Keep reviewing your offers.  If your readers are not responding well to your calls-to-action or offers, then what you are offering is clearly not appealing to them.  First be sure that they are easy to understand.  If you’re still not getting a good response, change up your offers.  You should do this anyway every few months to keep things fresh.

4.  Use social media.  Using social media to spread the word about your valuable content and offers is a great way to attract more prospects that you might have otherwise missed.   LinkedIn groups are a great way to spread the word, but be sure you’re not being too promotional too often.

5.  Pay attention to the analytics.  You can gain valuable insight into what people are responding to on your website and in your e-newsletter by scouring the statistics.  Google Analytics is a free add-on for your website and blog and provides great information on what pages people are spending time on, and what isn’t working so well.  If you use Constant Contact or a similar service for your e-newsletters, these services provide information on how many people opened and read your newsletter and what they clicked on. 

By using these five simple steps, you are not just adding names to your list, you are getting truly qualified leads for your marketing efforts.

ARTICLE BY

Stephen Fairley
 
OF
The Rainmaker Institute

What’s the Deal? Why Do Accounting Firms Use Initials Instead of Names? – Part 2

Fishman Marketing logo

We know that for many professional-services firms (e.g. law, accounting, consulting, etc.), using initials is simply a necessary compromise — a less-controversial way to abbreviate the firm’s name.  You get to shorten a cumbersome name without seeming to favor the first one or two people over the others whose names come later on the door. It seems like a reasonable solution, but it’s actually a big step backwards, as we discussed in our previous “Don’t Use Initials” blog post.

Some of our valued blog readers wanted more supporting evidence, another way to explain it to their firm’s own professionals.  This post shows how I explain this issue to the marketing committees, to help them make a good decision:

1. Look at this random collection of accounting firm logos I found on Google. (Disclosure: We don’t work with any of these firms.)

Look carefully:

Initials Accounting firm Bad Logos Page One copy

2. OK?  Got it?  Now I’ll shuffle them around and changed just one of the logos.

See the group below? Can you tell which of the following logos is different?

Initials Accounting firm Bad Logos Page TWO copy

You couldn’t tell, could you?  Of course not.

3.  OK, now I’m going to shuffle them around again and insert a new logo we designed recently.

Can you tell which of these logos, below, was added to the mix?

Initials Accounting firm Bad Logos Page THREE copy

It’s pretty obvious, right? 

Here’s the true test of marketing:

If you needed to find one of those companies on Google tomorrow, which one of them would you remember?

So, before changing a perfectly good name to a random collection of forgettable initials, think whether you’re advancing the firm’s strategic goals, or actually making your existing marketing challenges even harder to achieve.  Most of the time, a name, even a challenging one, is a better option than the firm’s initials.

ARTICLE BY
Ross Fishman

OF
Fishman Marketing, Inc.

Join the ABA in San Antonio Octoer 23-25 for the 9th Annual GPSolo National Solo and Small Firm Conference

The National Law Review is pleased to present you with information about the American Bar Association’s 9th Annual GPSolo National Solo and Small Firm Conference.

 

ABA 9th GPsolo Oct2014

Book your travel now for the 2014 GPSolo 9th Annual National Solo & Small Firm Conference (NSSFC). This year’s theme is “Building a Texas-Sized Practice on a Lone Star Budget.” Traditionally, the NSSFC attracts more than 200 solos and small firm practitioners from across the country and abroad. However, this year’s meeting in Texas is going supersize as we expect to draw record numbers. Come join the excitement and learn to build or expand your practice without spending a fortune.

Some exciting highlights of the meeting include:

–        Off-the-charts networking opportunities such as meet-and-greets with legal service plan providers and potential new business referrals

–        Rainmaking Forum; U.S. Supreme Court Swearing-In Ceremony (register now to take part); Naturalization Ceremony for new U.S. citizens; and an accreditation course for practice before the U.S. Department of Veterans Affairs (which, like Social Security representation, can result in a fee award). All these programs are new this year.

–        Opportunity to choose up to ten hours of CLE from more than 25 hours of offerings. This is not your everyday CLE. We will have several GPSolo book authors presenting on chapters from their recent publications, including the outstanding Run Your Firm Like a Business by Frank T. Lockwood, the timely Lawyer’s Guide to Financial Planning by Cynthia Sharp, and the ever-important Debt Collector’s Handbook by David J. Cook.

–        Sessions presented by the ABA Commission on Immigration for both immigration and non-immigration practitioners, including a mock trial demonstration with an immigration judge showing you the ins and outs of practicing before the immigration courts.

–        Difference Makers Awards Luncheon, where we celebrate the accomplishments of our honorees.

–        Training for pro bono representation with Kids in Need of Defense (KIND) to assist unaccompanied children who currently represent themselves in immigration court proceedings.

–        The opportunity to help educate high school students about being aware of debt through our Financial Literacy Outreach public service program.

 

GPSolo members will receive all of this and more for the not-so-Texas-sized price of $145—less than the cost of food and beverages alone. Why? We want to thank you in person for being a GPSolo member. So come on down and join the fun! Don’t mess with Texas, and don’t miss out on GPSolo’s signature event! For the best savings, register before September 22 and pay only $145 (GPSolo rate).

 

Special Discount: Register for the Women, Influence & Power in Law Conference – September 17-19, Washington D.C.

The National Law Review is pleased to bring you information about Inside Counsel’s Women, Influence & Power in Law Conference.

Women, Influence & Power In Law Conference

September 17-19, 2014
The Capital Hilton
Washington, DC

A Unique Conference with a Fresh Format

The Only National Forum Facilitating Women-to-Women Exchange on Current Legal Issues.The second annual Women, Influence & Power in Law Conference has a uniquely substantive focus, covering the topics that matter most to corporate counsel, outside counsel, and public sector attorneys. The event is comprised of three distinct and executive level events.

 

This unique event is the only national forum facilitating women-to-women exchange on current legal issues. This conference is led and facilitated almost exclusively by women, encouraging an exchange between women in-house counsel and women outside counsel on the day’s most pressing legal challenges. With 30 sessions, the event will have a substantive focus, covering topics that matter most to corporate counsel, outside counsel, and public sector attorneys.

The Women, Influence & Power in Law Conference is not a forum for lawyers to discuss so-called “women’s issues.” It is a conference for women in-house and outside counsel to discuss current legal topics, bringing their individual experience and perspectives on issues of:

  • Governance & Compliance
  • Litigation & Investigations
  • Intellectual Property
  • Government Relations & Public Policy
  • Global Litigation & Transactions
  • Labor & Employment

Serve Up a Strategic Marketing Approach

KLA Marketing Logo

Here it is more than halfway through the year and a lot of you who began 2014 committed to changing your marketing approach now realize “wow, nothing has changed.”

Below are ten steps to be more strategic in this year’s marketing planning:

1. Having good intentions in January is not the same as making marketing a priority.In other words, you jotted down some ideas, threw them in a drawer and went about your business. Marketing is often an afterthought.  If you do not make building and growing your practice a priority by scheduling it into your daily calendar and then “live and breathe” the concepts, how do you expect progress to be made, by you and other team members?

2. Develop cash flow budgets and projections are imperative so that you would have something to measure progress by. Businesses run with numbers. Law firms are no different. When creating a marketing plan, be as specific as possible. Set concrete goals as such as below:

  • Increase employment law cases by privately-held businesses cases by 15%
  • Acquire at least one new client each quarter with billings of at least $90k per quarter.
  • Increase revenue per existing top five clients by 20 percent

3. Creating metrics to measure the success or failure of your plans and activities against projections developed in number 2 is an ideal way to track your marketing initiatives by results achieved. Items such as response rates, average new billings per new clients, average billings from repeat work of existing clients…etc.  Do you have any written metrics and do you constantly monitor them? If not, this is a critical component for measuring success.

4. Assemble the right team.  Get the right people “on the bus and the wrong people” off the bus.  If your firm is full of worker bees, you will be challenged to produce marketing results.  However, if you support and empower those lawyers who are motivated to become a producer, a rainmaker, you are more likely to have a stronger marketing focus and better marketing results.

5. Retain professional training.While many lawyers “think” they know what to do, and they may, most do not know “how” to engage in high impact business development endeavors successfully. Effectively marketing and promoting a law practice ain’t what it used to be. Gone are the days when deals are just a handshake away and a matter of spending the afternoon on the golf course.

Seeking outside support to fully learn, from soup to nuts, the sales process, how to efficiently fill your pipeline AND persistently track your sales (i.e. new client engagements) are things that do not materialize from amorphous. Retain a professional trainer/coach and you will never go back.

6. Set a clear and powerful direction.  It is a powerful exercise to have regular meetings with your team to cultivate a marketing culture within a firm and to outline the marketing expectations.  Team meetings can serve multiple purposes of parlaying business opportunities, sharing knowledge, and achieving positive marketing results.

7. Turn up the focus dial. Most likely, if you do not focus like a laser on identifying targeted clients, markets and niche areas of practice, you will likely become discouraged and ease up on your marketing commitment. Thus, it is imperative to narrow down exact targets so you know who you are looking for. An example of this for a construction litigation practice may be commercial developers on the East Coast with revenues between $50-150 million a year. That description will narrow the companies you are looking for and are simple to find with basic online market research.

8. Assemble the marketing tools. Having the right tools is essential to ensuring you derive the most out of your marketing strategies. Tools are no longer limited to printed brochures, email and promotional items. Video, social media networking, SMS texting, webinars, podcasts, and creative interactive websites can also be highly effective, depending upon your marketing goals and objectives. The increase in marketing tools equates to greater options in your toolbox. It also means that selecting the right tools is more important than ever.

9.Invest in the right things.  Decadent offices, random acts of lunch, and token “shotgun” expenditures in the name of marketing do not attract new clients. Invest instead in strengthening relationships with key clients, communicating to existing clients and prospective clients how you are improving their businesses and/or personal lives.

10. Action, Action, Action. One of themost impactful ways you can be more strategic in your marketing planning is simply to execute on the plan. Marketing must be an integral part of your business, not a “set it and forget it” aspect of your business. In order to ensure that your marketing plan succeeds, you must be actively engaged in working that plan.

The means by which to instill a more strategic approach to your marketing are vast. Reiterating my mantra that marketing success comes with “consistent, persistent massive amounts of action over a prolonged period of time”, all the strategic marketing spokes (Internet marketing; communications program; reputation management, etc.) must be moving forward at the same concurrently. Anything less and the wheels just spin.

Article By:

Kimberly Alford Rice
Of:
KLA Marketing Associates

Making These 3 Errors in WordPress Makes Your Law Firm’s Blog Less Effective

Correct Consults Logo

Here are three common WordPress mistakes that will make your legal website less effective than it should be:

  1. Posting content that is not unique, engaging or well designed. Unstructured information, filler materials and overly general articles do not motivate a user to interact with the site. Your goal should be to create content that users want to share or bookmark or research further by following your in-text links.
  2. Getting caught up in finding the perfect WP template and design. Many inexperienced website authors expend all their energy before even considering content development. A lot of sites use generic content that reads like it was added as an afterthought. It is hard to schedule time to generate good content but when most people say, “Oh, I’ll come back to improve that later,” they never do.
  3. Failing to design each page for its intended purpose. Out-of-the-box WordPress themes use similar forms and sidebars on every page. It is important for the design (as well as the content) to serve the page’s purpose.
Article By:

Tanner Jones
Of:
Consultwebs.com, Inc.

Tips for Growing Your Fan Base on Facebook

The Rainmaker Institute mini logo (1)

One of the biggest challenges for anyone seeking to have a large social media following is growing your audience to a healthy level.  Sometimes it almost feels like we’re back in grade school, looking for other kids to like us!

Inbound marketing firm Hubspot has a number of informative presentations on Facebook marketing, but this quick slide guide with five tips on how to grow your audience is particularly useful since it visually walks you through the steps you need to take on your Facebook page to reap the rewards from each tip:

One of the biggest challenges for anyone seeking to have a large social media following is growing your audience to a healthy level.  Sometimes it almost feels like we’re back in grade school, looking for other kids to like us!

Inbound marketing firm Hubspot has a number of informative presentations on Facebook marketing, but this quick slide guide with five tips on how to grow your audience is particularly useful since it visually walks you through the steps you need to take on your Facebook page to reap the rewards from each tip:

5 Quick Tips For Growing Your Facebook Audience from HubSpot

Article By:

Stephen Fairley
Of:
The Rainmaker Institute