Measuring Your Marketing ROI: Part III
By ESQCoach, Terrie S. Wheeler
Email: TWheeler@MarketYourLawPractice.com
My last post examined ways to measure marketing return on investment under the second pillar of marketing– Attracting New Clients and Developing New Business. This post will explore measuring marketing ROI under the third pillar, Increasing Name Recognition and Awareness. This is an area of marketing where it is very easy to spend lots of money (buying advertising, hiring public relations firms, or attending tradeshows), so carefully measuring your return is particularly important. Below are listed Pillar III marketing strategies and their corresponding ROI measurement techniques.
Advertising (Print and Web-based)
Considering the generally high costs associated with advertising, it is important to make sure that your advertising dollars are truly well spent. While you may like to think that your advertising helped you to land that new client, you can’t be sure unless you ask. Check in with new clients and ask why they hired your firm. If they cite specific advertising as one of the reasons they hired the firm, your advertising has resulted in measurable ROI!
Another simple way to determine whether your advertising works is to include a call to action in your ad (such as registering for a seminar). You can also determine if your advertising works by seeing if there is higher name recognition of your firm in the marketplace based on independent market
research. Finally, if you are using web-based advertising, monitor your search engine rankings to see if they improve.
Branding and Identity
Developing professional, cohesive identity and branding materials for your firm is a smart investment. Your materials should include a logo,
letterhead, brochures, and website that, when viewed together, are consistent and have the sa
me strong visual identity. Done correctly, your materials will result in a higher level of professionalism conveyed through your firm’s brand and resulting identity materials that will generate complimentsfrom clients, contacts and referral sources. You will know your branding and consistency has paid off when your firm “becomes known” in the marketplace for some element of its branding or identity.
Public Relations
We all know that, generally speaking, publicity for your firm is a good thing. But how can you measure the ROI of such an intangible marketing function? If you have an article written about your firm in a local or national publication, or if you appear on the radio or television, check the media outlet’s advertising rates. Multiply the cost of placing an ad of similar length by 3 or 4 to arrive at the approximate dollar value that the public relations “advertising” has been worth to your firm. Next, count the number of media impressions your firm made – how many people had the opportunity to see the article or hear the interview.
In a more general way, you can measure your public relations ROI by looking at how often the firm gets substantive content placed inpublicationswhich are read by A-level clients. Look at the number of news releases the firm proactively distributes each month and the number of bylined articles published per year by you or other professionals in your firm.
You can also measure your public relations ROI by examining the relationship between your firm and reporters. How many times in the last year have firm professionals been quoted in the press? How many reporters does each professional know and have a relationship with?
To learn more about effective public relations, see Tip #10 in my blog post, “Marketing Your Law Practice in a Tight Economy—Part III.”
Trade Shows
Participating in key trade shows in your area of expertise and within your community can be a great way to reach a focused group of potential clients. However, with your limited time and resources, it is important to only commit to those trade shows that generate the most ROI.
To measure the ROI of a participation in a trade show, look at the number of new client or referral source leads generated as a direct result of the firm’s participation in a trade show. Also, count the visitors who leave their card or ask for additional information and the number of your own firm professionals who participate in the event. If you or someone from your firm is a speaker at a trade show, it is likely that you were able to reach more potential clients. Finally, look honestly at your level of proactive follow up after the event. Are you truly reaching out to and connecting with the trade show participants?
Community Involvement
Volunteering in your community is the right thing to do. It can also be an opportunity to build your skills and your network. Is your firm taking advantage of this great professional and marketing opportunity?
To measure how well your firm is doing in its community involvement efforts, look at the number of professionals in your firm serving on non-profit boards and delivering pro bono work (hours per year).
Does your firm create an environment and culture where volunteerism is encouraged and rewarded? If your firm encourages its professionals to volunteer for organizations they are committed to and passionate about, your firm can become a community leader with a reputation for excellent and ethical work. While not every volunteer or board position will directly lead to new clients, it is important to stay consistently involved. Positive results may take time but community involvement is always rewarding!
To learn more about the importance of community involvement in your marketing efforts, read my blog post “Giving Back: Why Lawyers Need to Spend More Time Volunteering.”
Social Networking
Considering how recently online networking has developed, it’s astounding how pervasive it has become in such a short time. And it’s only growing! As you consider ways to market yourself and your practice, keep in mind that social networking allows you to communicate your key messages and make connections with people that you would likely never find using traditional methods.
Although social networking can seem amorphous, social networking can and does lead to the development of new relationship and clients. Tomaximize your social networking activities, participate actively in groups on several social networking sites. Be willing to share expertise and NOT use social networking to directly sell. Finally, spend time on each site at least once a week to update your profile or status, to contribute to conversation, or to post an informative article.
To learn more about the social networking for lawyers, see my blog post “A Lawyer’s Guide to Social Networking.”
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Measuring Your Marketing ROI: Part II
By Terrie S. Wheeler, MBC
www.MarketYourLawPractice.com
TWheeler@marketyourlawpractice.com
Our last blog post focused on ways to measure marketing return on investment under the first pillar of marketing—Retaining and Growing Relationships With Existing Clients. This week’s blog focuses on measuring marketing ROI under the second pillar of marketing, Attracting New Clients and Developing New Business. Below are listed Pillar II marketing strategies and their corresponding ROI measurement techniques.
Networking
While it would be nice if all of your networking efforts resulted in a new client, networking doesn’t always work that way. However, if you are networking successfully, you should begin to notice other benefits, including having a loyal base of friends and contacts who will always return your calls and who begin sending you more referrals for A-level clients.
Successful networking means that you have two to three networking meetings each week, you always make time to meet with someone who was referred to you, and you look for ways to open doors for others on a regular basis. As you increase your networking activities, you will notice that you actually start to enjoy staying connected to great people. Remember, effective networking is more about looking for ways to help others (versus what’s in it for you)!
To learn more about successful networking, see my blog post on Effective Networking Strategies for Solo Practitioners Part I and Part II.
Targeted Business Development
How can you tell if your time spent on targeted business development has been successful? First, do you have a written list of your top ten prospective clients, with a plan for each prospective client on what your next steps are to land their business? A written plan is an important investment in your marketing success that will
lead to results as you put your plan in place.
Look at the number of proposals you have submitted to A-level clients each year, as well as the number of new clients you actually attract to help you determine if your targeted business development efforts have been successful. You can also measure your success by looking at the amount of revenue generated by the new clients you have attracted. Make sure you remain focused on business development by developing a strong sales pipeline with dates, action items, and next steps.
Proposal Development
Proposal development is an important place to spend some time focusing your marketing efforts because of the direct correlation it has with securing new clients. One way to measure your ROI is to look at the number of proposals you submit to A-level clients each year. Strong proposals that lead to a client selecting you and your firm over the competition during a competitive bidding/RFP process are a great way to measure your marketing ROI.
Another important measure of your ROI is the existence of a proposal archive at your firm, so you don’t have to reinvent the wheel each time. A strong proposal will contain current examples of representative experience for everyone in the firm and should begin with a summary of the client’s situation and your approach to meeting the client’s needs (not with firm history and bios).
Market Research
Market research is an important tool that lawyers can use to understand more about their clients and prospects. Time spent conducting market research prior to meeting with a contact can lead to increased business, a new client, or a new referral source. Your contacts will be impressed by the time and effort you take in understanding their company or industry.
To ensure your market research yields positive results, make a point of taking the time to research a new client or prospect before your first meeting. Keep an electronic file or “dossier” on your top prospective clients and review and update the files periodically. Track the activities of key clients or prospective clients using Google Alerts or other web-based research tools.
Trade and Professional Association Involvement
Involvement in trade and professional associations is a great way to network, build name recognition, and generate new clients. The most important way to ensure a strong ROI in is to measure your actual involvement with the association. Look at the number of years you or your firm has been involved with the association. Trade association involvement requires a long-term investment to the association and its members. Make sure you regularly attend meetings—belonging to the association without participating will not build trust with other members.
You can also measure your ROI by looking at the strength of your network of contacts within the industry. Does a member of your firm serve in a high profile position within the organization? Do you or your firm have regular speaking engagements for the group or regularly contribute articles to the association’s publication? Do you have clients who have who hired the firm because of its perceived industry expertise?
While attending association events, speaking to association members, and writing for association publications can be time consuming, measuring your ROI can make you feel more secure in knowing that your time is well spent.
Learn more about maximizing trade association involvement by reading my blog post, Be Where your Clients Are: Tips for Maximizing Trade Association Involvement.
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Measuring Your Marketing ROI: Part I
Lawyers are results-oriented and often have questions about how to quantitatively measure marketing success. Determining return on investment of marketing initiatives can be challenging because not every marketing initiative will directly result in a new client. However, in addition to attracting new clients, marketing success can be measured in a number of ways. This blog post will address ways in which to measure marketing ROI under the first pillar of marketing—Retaining and Growing Relationships With Existing Clients. Below are listed a number of Pillar I marketing strategies and some corresponding ROI measurement techniques.
Client Satisfaction and Retention
How can you tell if your clients are truly satisfied, and how can you tell if your marketing related efforts to increase client satisfaction are working? One key measure of marketing success is to look at the duration of your client relationships. Long-term relationships with clients are a strong indication of client satisfaction.
In addition, clients who have increased the amount of work with your firm, either through working with other practice groups or increased workflow specific to you, are expressing their satisfaction with your client service. Clients also show that they enjoy working with you by referring you and your firm to others. Maintaining strong relationships with clients is the best return on investment you can get for your marketing efforts!
See my blog post on Low Cost, High Impact Strategies to Market Your Law Practice: Part II to learn more about keeping your clients satisfied.
Client Service
Measuring your return on investment in your client service efforts can be tricky because most clients only let you know if something is wrong—not if you’re doing everything right. Because
of this, one easy way to measure your client service is to measure the number of client complaints you receive. Very few client complaints likely means clients are satisfied with your service.
Clients also demonstrate their satisfaction with your services by paying their bills on time and by referring you to others. You can also gauge how well you are serving clients by honestly evaluating your responsiveness to client phone calls and emails. A great way to increase and ensure client satisfaction is to develop client service guidelines that are followed by everyone in your firm.
Read my post on Client Service Reminders: What Lawyers Can Learn from Toyota.
Cross Marketing
The best way to measure your ROI on your cross-marketing efforts is to track how many of your clients utilize more than one service of your firm. Clients who are satisfied with your work and are aware of you and/or your firm’s depth and breadth of expertise are likely to increase their work with your firm.
To ensure that you have a strong ROI on cross-marketing efforts, create a firm culture that supports cross-marketing. Consider implementing a compensation system that rewards growing existing relationships. Host firm events where clients can meet other attorneys at your firm, and work to actively introduce your clients to others at the firm.
Referral Source Development
Finally, it is important to measure your ROI on your referral source development efforts. Taking time to build relationships with referral sources can seem like a frustrating waste of time when you consider that your time could be spent developing new clients. However, developing your referral sources pays off and it’s important to remember that by tracking your marketing success in this area.
To measure your ROI, keep track of how your new clients found you. A strong base of people who regularly refer business to you is a great ROI for your efforts. Look at who your best referral sources are and determine what they have in common—are they from a particular industry or profession, do they have common personality traits? Knowing who your best referral sources are makes it easier to spot and develop relationships with other potential referral sources. Make it easy for your referral sources to refer business to you by providing them with concise marketing materials and messages that they can pass along to their contacts. Maintain strong relationships with your referral sources by scheduling coffees or lunches with them to stay in touch and by providing them with referrals where appropriate.
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Gender and Business Development: 6 Predictors of High Originations for Women Lawyers – Part II
By
Terrie S. Wheeler, MBC, Founder
Vanessa K. Townsend, Esq.
Part I of this post covered predictors including years of legal experience as well as time spent actually pursuing business development activities. This post picks up where the previous post left off, covering the four final predictors for high originations for women lawyers.
3) Using a targeted approach to business development
Women who have a business development plan in place and follow it are more likely to have high originations. The busier you are as an attorney, the more important it is to take time to create a marketing plan. By focusing your energy on activities proven to generate origination dollars, you can make the most of your limited time.
Create a detailed business development plan for 2010 in as little as 10 minutes per day: http://esqcoach.com/2009/11/29/create-your-2010-marketing-plan-in-one-month-ten-minutes-per-day
4) Participation in pitch groups
While participation in pitch groups was a predictor of high origination, many women in the study reported that opportunities to participate in pitch groups were not as available to them as to their male counterparts. Participation in pitch groups is especially important because it is a great learning environment, where senior partners can mentor younger partners and associates and demonstrate marketing and selling skills. Moreover, pitch groups often provide an opportunity to meet lawyers from other practice groups and can foster cross-department relationships and cross-selling opportunities.
To become involved in your firm’s pitch groups, ask! Discuss your desire to learn more about business development with the partners you work with and with your firm’s marketing professional. Offer to do background research on the potential client’s industry or the pricing of competitor’s services.
5) Cross-selling other firm services
Another predictor of high-origination for women lawyers is an ability to cross-sell other firm services. It is likely that 80% of your firm’s revenue this year will come from existing clients. Don’t overlook current firm clients– it is far more efficient to deliver more services to current clients than it is to go out into the marketplace to attract new clients with whom you have not yet worked.
Cross-selling is a process that not only seeks to attract new business from existing clients but also to provide referrals of current clients to others in your firm that may deliver complementary services. Many times clients will work with other lawyers or law firms in areas you or your firm have expertise in, simply because they did not realize you offered the service.
Here are some ideas on how to cross-sell your legal services:
- Identify and communicate your services. A simple mailing or email newsletter listing the services you and your firm provide can help educate clients as to the breadth of your services.
- Meet with Colleagues. Sit down with your colleagues and brainstorm lists of clients that could be better and more fully served by the firm. Learn more about their practice and tell them about your practice and your ideal clients.
- Identify colleagues’ clients. Identify those clients where you could add value with legal knowledge – - and approach your colleague asking for an introduction to the client.
6) Asking clients for introductions to others who may need legal services
The study also found that women lawyers with high originations know how to ask for referrals. Learn to tap into the willingness of your clients to refer you to others to ensure you maximize your income and earning potential.
Many professionals do not actively ask their clients and contacts to refer them to others. They “assume” everyone knows they are looking for more business – which is just not the case. Learning to ask for referrals will allow you to tap into more work from people who already know you, like you, trust you, and respect you – a logical place to focus a large percentage of your marketing efforts.
Calling all Lawyers!
Participate in Dr. Keshet’s current research study on how attorney specialty and diversity effects business generation. The measures of diversity include gender, race, ethnicity (Asian American, Hispanic American and others) and sexual orientation.
We are seeking your assistance in informing attorneys at your firm. Our online questionnaire takes less than 15 minutes to complete. You and the participants from your firm will receive an executive summary of the study results. The study is completely confidential. To take our questionnaire click here: http://www.zoomerang.com/Survey/WEB22AEMFKQWU5
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Gender and Business Development: 6 Predictors of High Originations for Women Lawyers – Part I
By
Terrie S. Wheeler, MBC, Founder
Vanessa K. Townsend, Esq.
More women have been graduating from law schools and becoming associates at law firms, with almost half of law degrees now going to women. Yet there is still a significant gender gap at the partner level of most law firms due to women dropping out of the partner track or leaving the field of law entirely. At the same time, law firms have been changing the way they approach business development—shifting away from relying on a few rainmakers to expecting all senior associates and partners to contribute to new business development. Because business generation is now a significant factor in determining which associates will advance and become partners, business development is a key skill for women lawyers who want to succeed.
Harry Keshet, Ph.D. is a social researcher and marketing consultant who has worked with law firms for over 30 years. In 2007, Dr. Keshet designed and conducted the Women Attorneys Business Development Study with the goal of discovering the activities, attitudes, and organizational factors leading to high origination among women attorneys. The study used a large, national sample of 423 women attorneys, 85% of whom were working full time and more than 50% of whom were equity or non-equity partners. Average origination dollars for the year 2005 for the women was $338,653 with the highest origination at $4 million.
The study found that there were 6 predictors of high originations for women lawyers. This blog post addresses the first two predictors: years of legal experience, and time spent doing business development each month:
1) Years of legal practice
The single best predictor of business development success for women lawyers was the number of years they had been in practice. As women develop their career, they build both legal and marketing expertise that helps them succeed. As their legal skill grows, so does their confidence and reputation and they increase participation in community organizations, pitch groups, and referral networks that help them grow their practice.
However, with more women leaving the practice of law, fewer women are gaining the years of experience that lead to business development success. Further, business development and origination are now being expected earlier in lawyers’ careers as firms shift away from the rainmaker business model. So what can young women lawyers do to hone their business development skills earlier in their careers?
- Develop Your Practice: first and foremost, a young woman attorney, like any new associate, must focus on developing her legal expertise. At the same time, however, she can and should practice providing outstanding service to clients and to the partners with whom she works
- Focus on Partners: work on building relationships with partners, as your current “clients.” Turn work in on time, be details oriented, and ask for feedback on your work. Take a partner to lunch and ask about how she built her practice and ask for advice on how to build your own
- Stay in Touch: Don’t lose track of your law school and college friends. Make a point of staying in touch with people you connected with (liked, trusted and respected). They will be the legal services decision makers of tomorrow. Meet them for lunch a couple of times per year. Make it a priority to stay in touch. Practice developing client relationships by developing the contacts and network you currently have
- Practice by Selling the Firm: While you can’t market yourself individually until you have solid experience to market, you can practice your marketing skills by marketing the firm. Ask to join pitch meetings or become active in a trade association with clients that interest you and your firm
2) Time spent doing business development each month
The study found that the more time spent doing business development each month, the more new business generated. In particular, spending over 15 hours per month on business
generation was a high predictor of business origination.
This may seem like a lot of hours, particularly to someone who feels they are too busy practicing law to work on new business development. Yet, relationships take time to nurture and grow. If you don’t continually work on building your relationships, you may find you have very few clients and a lot of time on your hands! Be proactive in managing your relations by setting aside time each week for business development:
- Identify your top contacts: make a list of 20-30 current clients, prospective clients, and referral sources with whom you would like continue to grow your relationship. Keep a list with their names on your desk to keep them top of mind
- Meet with your top contacts: make it a goal to meet with one contact per week. Go to lunch, coffee, or a happy hour just to catch up
- Have a contact-focused agenda: don’t go with the goal of selling your services. Rather, your agenda should be focused on your contact. What can you do to help them personally or professionally? Who in your network can you introduce them to?
- Do What You Say You Will: introduce them to that contact, send them that article, etc. Keep a marketing file where you make notes of when you meet with people and list of follow-up items. Put a note on your calendar to schedule another catch-up meeting a few months down the road
Watch for Part II of this blog post that discusses how best to use a targeted approach to business development, participation in “pitch groups,” cross-selling other firm services, and asking clients for referrals.
Calling all Lawyers!
Participate in Dr. Keshet’s current research study on how attorney specialty and diversity effects business generation. The measures of diversity include gender, race, ethnicity (Asian American, Hispanic American and others) and sexual orientation.
We are seeking your assistance in informing attorneys at your firm. Our online questionnaire takes less than 15 minutes to complete. You and the participants from your firm will receive an executive summary of the study results. The study is completely confidential. To take our questionnaire click here: http://www.zoomerang.com/Survey/WEB22AEMFKQWU5
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If you wait until you have Time to Market, It’s too late: Networking tips to nurture and grow relationships
By ESQCoach, Terrie S. Wheeler
Email: Twheeler@MarketYourLawPractice.com
For over 20 years, I have helped lawyers market their law practices. Through the years, I have heard an ongoing stream of reasons—no—call them what they are—excuses—on why they cannot “do marketing” right now. Do not get me wrong. I know you are busy and that you went to law school to practice law, not to be a sales person. However, I also know that building a sustainable base of clients and referral sources takes time. If a lawyer does not work diligently to build these relationships, he or she will awaken one day to realize they have very few clients and a lot of time on their hands. They have let their relationships go. Why did this happen? Many times, it is because they have been too busy practicing law— and not focusing on new business development.
Relationships take time to nurture and grow. Consequently, relationships require constant attention (yes, a bit like a rare plant you have to water to prevent it from drying up and dying). So as you move into 2010 with hope and high expectations for your practice, consider the following tips to ensure you continue to focus on serving your clients, but also on making sure you will always have clients to serve!
Identify Your Top Contacts – Focus your marketing efforts by focusing on your contacts. Identify your top current clients, your top prospective clients, and your top referral sources. While you are at it, identify those in your network you respect greatly for their business acumen and identify your top business advisors as well. This list of 20 or 30 people will become your focus. Keep this list on the top of your desk therefore top of mind.
Set an Agenda (Mentally, that is) – You are not going to distribute an agenda on the glossy bar top, or on the table of your local coffee shop. Rather, before you meet with your contact, think about the following and mentally prepare for the meeting. The focus of your preparation might surprise you (no it is not about developing your key “hire me” messages):
• How can I help this person in their life and business?
• Whom do I know in my network I can introduce to this person?
• On what boards and in what community work is this person involved?
• How can I personally support their volunteer activities?
• What do I remember from my last “social” meeting with this person – - an upcoming vacation, interesting hobby, children’s activities, spouse’s accomplishments, colleges attended by kids
• Is there anything I can do to help this person achieve a goal they have—personally or professionally?
Meet with your Top Contacts – Set a goal of scheduling at least one meeting each week with a top contact. Meet for coffee before work or for a beer at happy hour. Schedule the meeting just to see how they are doing—make it crystal clear you are not billing them for the time (if it is a current client). Let your contact know you simply have been thinking about them and want to catch up.
Do what you Promise – That evening or the next day, record the highlights from your meeting into the notes section of the person’s Outlook contact page. Then, do what you promised to do. Make the introduction; send the email; buy tickets to the show their daughter is starring in; introduce them to another one of your contacts. Proactively make good on each activity you committed to doing for them. This is where well-intentioned professionals fall down on the job. We all know how frustrating it is when someone offers to do something nice for you, and not follow through. Do not be that person.
Schedule another Meeting – Even if the action item is”let’s do this again in the fall,” put a note on your calendar for early September to contact the person you just met with. Staying in touch with people in your network is not just a good thing to do, it is critical for you to nurture and grow your relationship with that person.
Reengage in at least one Association – One of the first cuts in the “I’m too busy to market” saga is usually a trade association in which you are a member. I am not talking about your local or state bar. Continue attending bar association programs for your CLE credits and for your professional development as a lawyer. I am talking about the trade or industry association, which attracts your current or prospective clients. There is no better way to build genuine relationships than to participate actively in the associations attracting your ideal client types. So pick one in which to reengage. Then do the following:
• Calendar each monthly meeting and commit to attend
• Arrive early to each event and introduce yourself to the association’s executive director and other association staff
• Scan the registration table for nametags of contacts you may already know
• Introduce yourself to new contacts and focus on finding out more about them – - not on telling them all about you
• Follow up with the executive director and offer to contribute an article of interest to members for their publication, or to speak on a substantive topic of interest at an upcoming monthly meeting
• Follow up with the best contacts you make and add them to your contact list above; schedule a time to meet with them informally (coffee, beer, etc.) “to learn more about them and their business” and follow the steps above during your meeting
Remember if you tell yourself, “I don’t have time to market,” at some point you will realize you have more time than you had ever imagined to market because you will have no clients. I know this seems harsh, trite, or even like a scare tactic. Nevertheless, it is true. The best time for you to market IS when you are busy practicing law. Remember to identify your very best contacts, reflect on how you can help them, meet with them personally, do what you promise, schedule another meeting in a few months, and reengage in at least one trade association you have let go dormant. Nurture and grow your relationships, as you would grow a delicate orchid. You will continue to build genuine relationships with people you like, trust and respect, and because your focus has been on helping them, they will feel the same way about you.
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Create Your 2010 Marketing Plan in 21 Days Ten Minutes per Day!
In almost the same amount of time it takes you to get your daily cup of coffee, you can create an entire marketing plan for your law practice. Intrigued? Here’s how! Spend just 10 minutes each day going through the marketing planning process below. In less than a month, you will have created a cost-effective, dynamic marketing plan.
Start with a Word document and make the entries in order (feel free to copy and paste from this blog post) so you have all of your responses in one place. Almost effortlessly you will have created a proactive, results-oriented marketing plan for 2010.
Your 10 Minute a Day Marketing Plan for 2010
WEEK 1 – IDENTIFY YOUR BEST CONTACTS
Day 1 – Current Clients: Create a list of your top five current clients; those you could do more work with in 2010
Day 2 – Prospective Clients: Create a list of the top five clients you would like to attract in 2010; clients you are not yet working with but would like to next year
Day 3 –Referral Sources: Create a list of your top five referral sources – - those you would like to continue building a relationship with in 2010
Day 4 – Other Contacts: Think about others in your community you would like to spend more time with in 2010
WEEK 2 – ESTABLISH YOUR MARKETING OBJECTIVES
Day 5 – Target Audiences: Identify your A-level target audiences – those prospective clients who best utilize the highest level of your expertise as a lawyer
Day 6– Key Messages: Create three to five statements on why you are THE best lawyer to work with your target audiences – - really focus on what makes you unique as a lawyer
Day 7– Create Your “Real” Business Development Goal: A. Identify what amount of revenue you want to generate in 2010. B. Create a list of your current clients and what you project you will generate with each in 2010; then subtract B from A to arrive at your new business development number for 2010!
Day 8– Marketing Objectives: identify your specific objectives for 2010 in the categories of:
I. Retaining and Growing Relationships with Current Clients and Contacts (cover topics including client service, client satisfaction, cross marketing, and referral source development)
II. Attracting New Business (include objectives surrounding networking, targeted new business development, proposal development, market research, and professional association activities)
Day 9– Marketing Objectives: Identify your specific objectives for 2010 in the categories of:
III. Increasing Your Name Recognition in the Marketplace (include objectives in the areas of advertising, branding, public relations, trade shows, community involvement, social networking)
IV. Pursuing Targeted and Effective Communications (cover topics including client communications, your marketing database, your website, and event planning)
WEEK 3 – DEVELOP YOUR MARKETING ACTION PLAN 
Day 10– Retain and Grow Relationships Action Plan – Identify five activities you will pursue in 2010 which support the objectives you created on Day 8 in this area
Day 11– New Business Development Action Plan – Identify five activities you will pursue in 2010 which support the objectives you created on Day 8 in this area
Day 12– Increase Name Recognition Action Plan – Identify five activities you will pursue in 2010 which support the objectives you created on Day 9 in this area
Day 13– Targeted Communications Action Plan – Identify five activities you will pursue in 2010 which support the objectives you created on Day 9 in this area
Day 14 – Review and Refine your Action Plan – It takes time to put your action plan in place. Use today to review what you have created this week!
WEEK 4 – CREATE YOUR CONTACT ACTION PLAN
Day 15– Current Client Action Plan – Review the contacts you identified on Day 1, and plan one follow up activity per contact; set a date for when you will follow up with each person and what your message will be
Day 16 – Prospective Client Action Plan – Review the contacts you identified on Day 2, and plan one follow up activity per contact; set a date for when you will follow up with each person and what your message will be
Day 17 – Referral Source Action Plan – Review the contacts you identified on Day 3, and plan one follow up activity per contact; set a date for when you will follow up with each person and what your message will be
Day 18– Other Contacts Action Plan – Review the contacts you identified on Day 4, and plan one follow up activity per contact; set a date for when you will follow up with each person and what your message will be
WEEK 5 – CREATE YOUR MARKETING TOOLS
Day 19 – Revise your Biography – Take a look at your professional biography and make sure it reflects the activities and accomplishments you have made to date – - update as needed
Day 20– Create Your Representative Experience – Show your clients how you can help them. Clients want to see you have done what they need. Create multiple pieces of representative experience organized by:
Type of Client:
Client Issue:
Your Approach/Solution:
Results:
Day 21– Develop your Elevator Speech – Create a summary of what you do for your clients based upon the “best and highest use” of your talent and expertise. Focus on the value and results you deliver to clients, not on the fact that you are a “tax attorney,” or “an estate planning lawyer.” Practice this for your next social event in response to “So, what do you do?”
By
Terrie S. Wheeler, MBC, Founder
www.MarketYourLawPractice.com
twheeler@MarketYourLawPractice.com
Visit www.PSM-Marketing.com
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About MYLP
Unique Web-Based Tool to Help Lawyers Develop New Business
ESQCoach, Terrie Wheeler has been helping lawyers attract new clients for more than 24 years. In 1996, she founded Professional Services Marketing, Inc. (PSM), helping professionals develop Targeted Strategies for Business Growth. In January 2011 Terrie merged PSM with Ingenuity Marketing Group in Saint Paul, MN.
Launched in 2007, www.MarketYourLawPractice.com (MYLP), is an innovative web-based marketing coaching tool for lawyers which replicates ESQCoach Terrie Wheeler’s individual marketing coaching process. Today, MYLP is helping lawyers across the US and in the UK develop new business, retain and grow current client relationships, increase their name recognition and more effectively communicate with clients.
Numerous bar associations across the country, including New York, California, New Jersey, Ohio, Vermont, Massachusetts, Wisconsin, and others, have recognized MYLP as a cost-effective marketing coaching and training tool for lawyers and have partnered with MYLP to offer the tool as a valuable member benefit.
MYLP was recently launched internationally in England, Wales, Scotland, and Ireland. Visit www.MarketYourLawPractice.co.uk, developed with our UK business partner, James Dunning of Geotrupes Consulting.
Join our Linkedin Group: The Legal Network - created just for lawyers and in-house marketing professionals to compare best marketing practices.
We have also launched a sister product for financial advisors, www.MarketYourFinancialPractice.com, and are marketing the site nationally to financial advisory firms.
For more information, contact Terrie: ESQCoach@MarketYourLawPractice.com
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