Thursday, August 11, 2011

Law Firms can Make Lemonade with Market Jitters

Here are 5 ways a lawyer can pitch new business in today's roller coaster market:
  • Guaranteed low interest rates, courtesy of the Fed, can create opportunities for a business to refinance a loan, or a consumer to buy a house.
  • Lower equity values, while not great for 401(k) plans, present opportunities for corporate share repurchase programs or companies on the hunt for acquisitions. 
  • Bargains are available as anxious retailers, manufacturers and distributors look for ways to attract buyers. Perhaps you can help a client lock in a favorable long-term rate on an important workflow component.
  • Employees who are worried about their jobs might be receptive to more flexible work arrangements. You can help your business clients write employment agreements or update policy manuals.
  • Companies with intellectual property could look for new channels of distribution in the U.S. or internationally.
Chances are your clients need your help with a transaction that takes advantage of today's market conditions. Let's face it, everyone is going to be cautious in the face of this week's uncertainty. Why not grab the bull by the horns and proactively identify ways that your clients can make the best of a tough situation? 

Give some quick thought to how you can make life easier for your clients. Prepare a few ideas in advance of contacting your clients, but do it fast. One simple idea is to think of clients that you can match up for potential business opportunities.  It doesn't cost you anything other than a little time and the price of a lunch, and you will build good will if nothing else.

Now is also a good time to pick up the pace of marketing communications. This could be as simple as picking up the telephone to catch up with those clients you haven't spoken with in a couple of weeks. Ask how they are doing, and if any plans are changing as a result of market conditions. Or you could send out an e-newsletter or a tip sheet.

If you need assistance, this @RainmakingLady is here to help. We've got lots of marketing ideas, and can get the ball rolling quickly. Contact us at 1-866-417-7025 or visit Legal Expert Connections online.