Articles Posted in Law Firm Marketing Plan

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If you have any desire to sell your law firm and make a profit you must have a strategy in place that will facilitate building equity in the firm.

This goes beyond law firm marketing. This is about planning for the future and aligning your short term goals with long term goals.

Here are the four things to focus on when looking to build equity in your law firm:

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There is a formula for creating great legal marketing copy and you do not have to be a world class copywriter to implement it.

The formula is simple: Spend 60 percent of your time (and words) making an emotional connection with your target audience. Spend 40 percent of your time providing valuable educational information.

This video explains the 60/40 split for legal marketing copy creation.

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Where do your best new clients come from?

If you are like most of the lawyers I know, your best clients come from referrals. Any time someone says nice things about you and takes the time to make a personal introduction to a prospective client, the relationship is going to be off to a good start.

Do you receive as many referrals as you should?

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You went to law school to learn how to become a lawyer. You didn’t go to law school to learn how to run a business. Yet when they go out on their own, most lawyers try to “figure it out”.

You do not have to do this.

There is a great deal of support available to a lawyer who needs assistance with legal marketing, practice management and productivity improvement.

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Rule number two of law firm marketing is: All law Firm marketing efforts should be focused on a specific niche.

This confuses some people and outright dumbfounds others. So let me clear things up right from the start.

Niche marketing means that you focus each of your marketing efforts on a particular area of practice within your law firm. This does not mean that you set up your law practice to handle only one type of matter.

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Targeting a specific niche is one of the most valuable marketing strategies a law firm can employ. Contrary to popular belief this is not about restricting your law firm to practicing only in one area of the law. This is however about targeting your marketing to one specific group at a time.

In other words, you are going to be tailoring your marketing message to the specific groups of people who are the intended recipients. But this should go well beyond a simple message to market match. This is about tailoring everything you do to meet the needs and desires of that market. All of your marketing must speak to their pain.

There are a few different ways to select a niche market for your law firm.

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When it comes to attorney marketing there are two types of thinking: Long Term Thinking and Short Term Thinking. Unfortunately, most attorneys think about the short term more than they think about the long term.

As a frame of reference, I am defining short term thinking as: The time frame between now, the present moment and the trailing twelve months. For the purposes of this discussion, Long Term thinking is thinking beyond the current twelve months.

Law firm marketing should always balance the need for new business today with the potential for developing business from existing clients (either through additional matters that develop with a client or through referrals sourced from within your client base). Attorneys must keep this in mind as they develop a marketing plan.

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One of the most valuable aspects of law firm marketing is the ability to create a perception of value in the mind of your client. While this value will often come in their belief in your ability to improve their situation, you should also want to create a perception of value around interacting with you and the relationship between you. This video explains.

 

In this video I outline five ways to influence the client’s perception of value.