|
Resources: Our Law Firm Marketing Newsletter |
 |
 |
May 2013 When It Comes to Legal Marketing...Size Does Matter |
|
|
|
|
Dear
Stephen,
I was meeting with an intellectual property attorney here in Phoenix to discuss how he could increase his revenues and market his small practice more effectively.
He posed a question I get a lot these days and it went something like this, "Stephen, I was with a large law firm before where they had a marketing department and now that I've joined a small firm I need to learn how to do my own marketing. How do I get started?"
Intuitively, attorneys seem to know that when it comes to marketing your law firm, the size of your firm does matter. Yet far too many attorneys try to use the same strategies they were taught in "Big Law" when they open up their own firm.
Keep reading to understand a few critical areas where the size of your firm matters most.
Sincerely,
Stephen Fairley
888-588-5891
     
|
|
|
When It Comes to Legal Marketing...Size Does Matter: How Marketing For Small Firms Differs From Large Law Firms
Here at The Rainmaker Institute we are the nation's largest law firm marketing company that specializes in lead generation, lead conversion, and client retention for small to mid-sized law firms. By the end of their career, over 80% of attorneys end up in a law firm with less than 25 attorneys. When it comes to business development, there are several critical areas where the size of your law firm seems to matter most.
1. Attorneys in small firms must wear multiple hats at the same time which means they are extremely pressed for time. Now I'm not saying that attorneys in large firms aren't busy. But in a large firm there is often a staff member or a team of people responsible for answering the phone, managing the firm, researching a case, preparing documents, marketing the firm, answering client questions, bookkeeping, and collecting overdue invoices.
Most of our clients in small firms have to wear half a dozen of these hats every day! However, they cannot neglect learning the art and science of lead generation-how to generate more and better referrals and qualified leads who are interested in their services. They just don't have a lot of time to learn this critical skill.
When it comes to learning how to market and grow their law firm (or any other skill they must possess) they must do it in a compressed time frame and then get back to work.
Our 2 day law firm marketing boot camp, named the "Rainmaker Retreat" is an intensive, deep dive into practical techniques and proven strategies that are specifically designed to help attorneys in small firms and solo practices. It covers over 65 different strategies in a step-by-step fashion that focuses on implementation and taking rapid action to achieve maximum results.
2. Size of the marketing budget. Many large law firms have a marketing budget bigger than the annual revenues of small law firms. Years ago, I stopped asking my clients for the size of their marketing budget because I grew tired of hearing, "Budget? We don't have a budget." I get it. Your marketing plans must be designed to be easily implemented on a low cost budget.
We teach our clients one of the best returns on investment a small firm can implement is to start a monthly e-newsletter. We recommend Constant Contact or another similar service to help them get started. Our clients tell us that almost every time they send out their newsletter, referrals start coming in. Make the choice to do "something" versus nothing.
3. Number of decision makers. Most marketing decisions at many large firms are made by committees. I see committees as a waste of time because in order to make a decision virtually all of them must say 'yes,' but it only takes 1 person to say 'no' and the whole deal falls through.
I tell my potential clients, "I don't work with committees and the moment you tell me that you need to go to a committee to get a decision is the moment this conversation is over. I only work with decision makers, not gatekeepers, which is another name for a committee, even if it's a committee of one."
Theoretically, I understand the benefit of committees (getting all the interested and vested parties together in the same room and thereby ultimately making a better decision). However, some of the worst decisions and indecisions come out of committee meetings
|
|
|
|
When you are making a big decision about marketing your law firm I recommend you assemble your people to get their input, but then take personal responsibility as the owner of the firm and make the best decision you can given the information you have at that time.
Or appoint a specific team member to oversee the firm's marketing efforts. Allocate an amount they can invest each month on marketing and then have them develop a written plan or at least a list of initiatives they want to tackle, help them prioritize, then hold them accountable for the results.
Taking action immediately and consistently versus waiting months for a watered-down decision from a committee will produce better results over time.
4. Need for immediate ROI. Large firms can afford to be patient and wait months or even longer before they see a positive return on investment (ROI). Small law firms require a much shorter time frame within which to measure their ROI. Many of the business development strategies we teach our clients are focused on a shorter time frame. At the same time, you cannot expect instant results because the clients you get today come from the marketing you did three to six months ago.
Law firm marketing is hard work, but part of the reason why some firms are so successful and others are still struggling is because only a relatively few are willing to do the hard work it takes to implement a truly effective marketing strategy...and that's why we call our Rainmaker Retreat a "boot camp." It's for attorneys who understand they didn't get where they are in a month and they certainly won't turn their firm around in another month.
Building a lifestyle law firm is a long-term commitment that has massive dividends down the road. Here are the best three pieces of advice I can give you when it comes to marketing your small law firm this year:
1. Get a MAP! Write down your Marketing Action Plan. It doesn't have to be long, but it does need to be written down and be as specific as possible.
2. Find someone to hold you accountable for achieving your business development goals.
3. Take consistent action. When it comes to marketing done is better than perfect! You will never have the perfect marketing plan.
Need some help getting started? I invite you to call our office at 888-588-5891 and set up time for us to talk or fill out this form for a no-obligation strategy session with a Rainmaker Advisor who will listen to your specific marketing challenges and help you identify marketing strategies that you can implement to rapidly grow your practice.
 |
 |
San Diego
Rainmaker Retreat
Friday, July 26 &
Saturday, July 27
|
Las Vegas
Rainmaker Retreat
Friday, August 16 &
Saturday, August 17
|
Are you ready to discover proven strategies that will move you closer to achieving a lifestyle law firm in 2013?
The Rainmaker
Retreat is our 2-day Marketing Boot Camp where we teach lawyers how they can have it all; increase the number of clients they have, double their income, and yet work less.

Learn more about the Rainmaker Retreat...
What do you have to lose? And what do you stand to gain?
|
Many people have asked us what it is like to attend our Rainmaker Retreat. This is a "snapshot" of what you will learn. Listen to colleagues (and even competitors) describe their experiences at the 2 day Rainmaker Retreat. Watch now or order a free DVD recording.
Discount Pricing available for multiple attendees from the same firm.
For more information please call: 888-588-5891 or visit www.RainmakerRetreat.com |

WEBINARS

|
How
to Attract Clients in Today's Marketing Jungle
Develop Your Law Firm Marketing Plan
Join us for this 60 minute complimentary webinar to learn the step-by-step actions you should take throughout the course of the next 12 months to substantially increase your revenues.
Get a preview of what you will learn at the Rainmaker Retreat, our 2 day marketing boot camp. Also find out why a thousand attorneys across the country attend and rave about the Rainmaker Retreat. Capacity is Limited.
Click here to learn more.
UPCOMING DATES:
Tuesday, June 4, 2013 at 10:00 am (in your time zone)
Wednesday, June 12, 2013 at 1:00 pm (in your time zone)
|
PILMMA's Super Summit
Thursday, June 6 - Saturday, June 8, 2013
Myrtle Beach, SC
Stephen will be speaking about "Secrets of a Lead Conversion Specialist: Turning Browsers into Buyers & Prospects into Paying Clients" at PILMMA'S Super Summit on Thursday, June 6 in Myrtle Beach, SC.
State Bar of CA Solo & Small Firm Summit
Thursday, June 20 - Saturday, June 22, 2013
Long Beach, CA
Stephen will be Keynoting several general sessions on Thursday and Friday, including "Building the 'Lifestyle Law Firm'™;" "Secrets of a Lead Conversion Specialist;" and "Law Firm Marketing Strategies in a Social Media World (Part One and Part Two)." |
|
|
|
|
Newsletter Archives
|

|
|