Many lawyers don’t get new clients and files because they don’t do enough business development activities, or they waste time on the wrong activities, or they don’t get face-to-face with potential clients.
What you’ll read next are the most effective marketing techniques. These tips are based on scientific research that I have conducted where we asked 377 marketing partners and marketing professionals in the professional services fields what they did that worked. I’m going to cover 10 particular points.
Number one: You have to spend at least 2.5 percent of your gross revenues on marketing. Otherwise, you’re just pretending to market. That 2.5 percent does not include the salaries of any of the people that you may have hired to perform the work. This is money that is spent on generating new business, on taking clients out to lunch, on visiting clients – it’s all direct marketing activities. You have to put your money where your mouth is. If you’re not spending 2.5 percent, you’re not being serious about marketing, and you’re not going to get any results. And 2.5 percent of gross revenues can go a long way if deployed well.
The second technique is to put video on your website. The reason that I bring this up is you may have noticed that YouTube is sponsoring presidential debates. It’s the number four most popular website online on the internet. That’s because roughly 30 percent of the population has grown up with the internet always present in their lives. Just as I grew up with fax machines, touch-tone phones, and microwave ovens – they were something I always accepted as being there. All of these people – the 30 percent of the population that has always had the internet – are looking for video. That’s what they expect. It’s very easy to record a video and put it online. If you don’t have any video on your site, you’re really missing a good trick. It’s a great opportunity to present how you look, how you talk, what you’re like, and make yourself more attractive to clients. It’s a great business-getting technique.
The third point: Don’t waste any money on marketing that is not measurable. If you can’t measure it, don’t do it. For instance, advertising and public relations are widely used, but after you’ve spent $20,000 on it, do you have any way that you can check to see if it actually generated any results? I don’t think so. What I would suggest you do is pursue the techniques that you can measure. That would include blogs. You can publish up a blog and see how many people visited. On a blog, you can also see how many people commented.
Number four: When it comes to business development, start with the low-hanging fruit, and that is your own clients. These are people who love you, they trust you, they send you work, they are sending you checks. It’s incumbent upon you to get to know them better to see if you can generate additional files from them. It’s much easier to open a new file from a current client than it is to originate a brand new client. Again, this is something that you can measure. You can measure the number of times the attorneys in your firm have actually visited the client, how many times they had lunch with a client or a referral source. Or, if you have an event at your firm, you can count the number of attendees, keep track of all their contact information, and then trace in the new matter reports how many of them turned into new files. The bottom line is you should start at the beginning of any sort of marketing initiative by figuring out how are you going to measure it. If you don’t do that, you have no way of knowing whether it succeeded or not.
The next thing is to cultivate referral sources. A lot of lawyers get most of their business from referrals, and that’s a wonderful thing, but the point is that it doesn’t just happen all by itself. The people who get these referrals are lawyers who cultivated them.
If you found these tips useful have a look at our blog tomorrow for the next 5. If your wish to know now you can read the full article by Larry Bodine here