Thursday, November 11, 2010

Starting a Law Firm? Here are 3 Legal Marketing Tips to Make $$

Recent law school graduates, yet to take the Bar exam, are already planning to hang out a shingle, according to an article on today's Above the Law titled Spurning Biglaw: Graduates Choose Starting a Small Firm Over Getting a Big Paycheck.

Recognizing that business is down for many attorneys these days, the three law students featured in this article are willing to work hard, build their practice, and keep expenses low the first couple of years to match expected income.

As the author of the legal marketing book Courting Your Clients, I have dozens of ideas on how attorneys can get new business. Here are 3 techniques that serve as a foundation:
  1. Build Your Referral Network. This sounds basic, but the truth is that most attorneys rely on referrals for new business. However, they don't maximize the power of their network because they manage it in their head rather than on paper. Write down your best referral sources - non-competing attorneys, accountants, or bankers - and assign an A/B/C priority to each one. Be in touch with your "A" referral sources every 30-45 days, ideally in person. Connect with your "B" sources every 60 days, also in person. Add your "C" referral sources to your email or call list. Stick to the referral network contact schedule and you will have a sales force working for you 24/7 without the need for commissions.
  2. Focus your practice and target your prospects. Concentrate in no more than 3 related practice areas. This will help clarify your marketing message. Your marketing dollars will be more productive, because you are spending on a narrow market and will get better word-of-mouth. Create a list of at least 25 high quality prospects that you want to develop as clients, then take it step by step to meet the right people at each prospect firm, introduce your law firm, and develop the relationship. 
  3. Create a strong Internet presence. A website is a must, and social media is a plus. You want prospects to find you online, and those that you meet in person will want to visit your website to learn more about you. 
That's just the starting point! Want more ideas? Read the book Courting Your Clients for a simple yet structured approach to legal marketing. 

If you read this post in time, sign up for our Courting Your Clients webinar scheduled for Friday November 12th (more in the future). Contact the author for more information.

    1 comment:

    Joseph Brown said...

    If you are planning on starting a firm I believe the best marketing advice one can get is to pick a niche, and blog, blog, blog, and then blog some more about that niche. If you commit to a blog on your niche practice area, and promote that blog properly through social media tools and participation online, you will have a dominant presence online, but it takes a lot of time and effort.