Thursday, April 21, 2011

Reconnect with 2010 Leads

Chances are you have a goldmine of new law firm prospects awaiting your call. I’m referring to the prospects you spoke with in 2010 who did not retain your firm at the time.

These prospects could be people you met at networking events, referrals from other attorneys, or inbound leads generated by your Internet marketing efforts. Your best prospects are those who asked for information about your firm or a proposal, but ultimately did not sign an engagement letter.

Frequently we don’t know why a proposal is not accepted. In the busy day-to-day cycle of court deadlines and current client demands, it is easy to lose sight of the hoped for clients who never materialized.

Don’t Stop Selling Too Soon

There are many valid reasons why a prospective client does not accept your proposal. Here are three possible reasons that your 2010 proposals did not result in engagements.

1. The prospect did not hire any law firm.

It’s not that you lost the business to a competitor, but that the prospect decided to defer the purchase entirely. If this is the case, they may be ready to take action now. A prospect you spoke with in detail during 2010 may be waiting for your call. What are you waiting for?
2. They picked another vendor, but are not happy with the results.

Of course your firm is the best in its field (and prices accordingly), but perhaps the prospect decided that due to budgetary concerns they had to hire a less expensive service provider. Now they realize that they are getting what they paid for, but they really need more legal firepower. A well timed inquiry may open the door to reconsideration of your services.

3. The prospect thought they could do the work internally.
Read the full story, Sales Prospecting in the Dead Leads file, on the National Law Review.

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