Measuring Your Marketing ROI: Part IV
By ESQCoach, Terrie S. Wheeler
Email: TWheeler@MarketYourLawPractice.com
This is the fourth and final post on Measuring Your Marketing ROI. This post will focus on the fourth pillar of marketing–Creating Targeted and Effective Communications. Below are listed Pillar IV marketing strategies, along with suggested techniques for measuring ROI.
Strategic Communications
Does your practice have the ability to send out truly strategic communications? Targeted and effective communications are not broad-based “firm newsletters” but instead are communications that are sent to various segments of your client base with targeted messages relevant to them.
If you invest your time and energy to create this level of targeted messaging, you can measure you ROI by tracking the number of direct responses from clients and referral sources because of your various communications. In addition, over time, you should see an increase in the level of client retention and flow of referrals into the firm.
Marketing Database
A marketing database is only valuable to you if you keep it updated. A strong marketing database should be easy to update, allow segmenting of client type for targeted communications, and interact with other firm data (like client revenue numbers).
Your ROI for creating your marketing database can be measured in saved time and increased client communications. In return for investing in your marketing database, you will save billable time by not needing to send individual lists to professionals for updating. Additionally, as a result of the database, you will find it easy to communicate with various groups of clients, contacts, and referral sources because you will have email addresses and other contact information for each person on your list.
Website
A website is a must-have for every law firm. When used correctly, a website can be a powerful marketing tool with the ability to attract new clients and retain current clients. The content on your website should be regularly updated and should reflect the overall branding and identity of the firm. You should also ensure that your website is search engine optimized, which will result in higher rankings on Google and other search engines.
Website ROI can be measured tangibly by tracking search engine rankings and by using Web-trends, Google Analytics or other programs to track and measure website visitors and activity on your website. You can also track your website’s strength by monitoring direct client inquiries from the website, seminar registrations using web-based registration options, and client comments on the website.
Learn more about maximizing your website. Read my blog post on “Online Marketing Strategies for Lawyers: Make the Most of Your Website.”
Client Events
Hosting a client event can be a time consuming challenge for any firm. Lawyers often wonder if the event is worth the hassle. How can you tell if your client event is a success?
Start by tracking the number of clients who attend the event—the more clients there, the better! Next, be sure to provide an evaluation form and ask clients what they thought of the event. In the evaluation, ask clients if they would attend the event again next year. Repeat attendees demonstrate that clients appreciate your event and see it as a valuable service. Track how many professionals from the firm attend the event and ask them if they were able to actively build relationships. Ideally, the event will lead to new clients or new matters generated from the event.
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Myths and Realities of Marketing Your Law Practice
By ESQCoach, Terrie S. Wheeler
Email: TWheeler@MarketYourLawPractice.com
Sometimes the biggest challenge in marketing your law practice is overcoming a preconceived notion of what marketing your law practice really means. Many lawyers have developed an aversion to marketing because they still believe in the following myths. Understanding the realities of marketing a legal practice can help you get out of your marketing rut, help you develop your practice, and yes—even learn to enjoy marketing!
Myth #1: Marketing is really selling and I didn’t go to law school to be a sales person
Reality: You don’t have to be a natural-born salesperson to market your practice! You do, however, have to overcome the idea that lawyers don’t have to do anything to attract clients. To be a successful lawyer with a booming book of business, you must integrate marketing and networking into your approach to serving clients. : While marketing is sometimes about selling, it is mostly about developing relationships with others and helping others succeed. Don’t think of it as “selling” your services. Instead, focus on building relationships with existing clients, meeting new people that you would like to work with, and understanding and sharing with others how you can add value to their life or business.
Myth #2: Effective marketing takes too much time – - and I am just too busy
Reality: Effective marketing does take time. However, think about the fact that you will continue to have clients only if you continue to market. If you don’t make time for m
arketing, you may come to realize you have too much time on your hands because you no longer have enough clients! Marketing doesn’t have to be time consuming. If you schedule time into your calendar every week to market you won’t have to spend large blocks of time later, scrambling to catch up on your marketing activities. Here are 5 simple marketing activities you can do in ten minutes or less:
- Call one of your top contacts and schedule a coffee or lunch.
- Develop an elevator speech.
- Update your professional biography
- Create or edit your LinkedIn profile
- Send a copy of an article to a contact that you think might interest or affect them
Also, see my blog post on creating your marketing plan in just 10 minutes per day!
Myth #3: Clients will find me because of my exceptional reputation – why market?
Reality: The legal industry is more competitive today than ever before. There are literally thousands of lawyers out there practicing in the same area of law as you. Gone are the days when law firms had “legacy” clients and partners could pass down these client relationships along with the firm name. In today’s competitive marketplace, you cannot just sit in your office and expect clients to come to you, no matter how excellent or well-deserved your reputation may be. You must go out and market!
Myth #4: Contacts will see right through me asking them to lunch or coffee as a ploy to get business from them
Reality: Contacts will see through you if you are only trying to sell them. But effective networking is all about helping the other person. When networking, ask yourself: “How can I help this person in their life and business? Whom do I know in my network that I can introduce to this person? Is there anything I can do to help this person achieve a personal or professional goal?” Follow-through on commitments you make. If you tell a prospective client that you will introduce them to a great accountant you know—do it. If you say you’d like to volunteer in an organization they are involved in—do it. The point is, if you network and build genuine relationships with people you actually enjoy, trust, and respect, they will feel the same way about you.
Myth #5: I am an introvert and do not feel comfortable networking
Reality: If you feel uncomfortable in large group settings, have no fear—effective networking can be done one-on-one! In fact, since effective networking is all about building relationships, one-on-one networking is particularly effective. Set up one-on-one meetings, lunches, or coffees. If you are going to an event where you know there will be a lot of people and you are feeling overwhelmed, set a goal for yourself of talking to one or two people. Prepare some questions ahead of time to help you feel more comfortable. You may want to ask questions like, “How long have you been a member of this association? What do you do? How did you decide to go into your profession? Tell me about your company—who are your clients/patients/members/customers?”
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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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Client Service Reminders: What Lawyers Can Learn From Toyota
By ESQCoach, Terrie S. Wheeler
Web: www.MarketYourLawPractice.com
Email: Twheeler@MarketYourLawPractice.com
Toyota was the most admired car manufacturing company in the world. However, the recent recalls, manufacturing defects, and Congressional hearings have undeniably tarnished its reputation, cost it valuable customers, and reduced its market share. While Toyota is a manufacturing company, there are valuable lessons lawyers can learn about managing client expectations, communicating with clients (good news and bad), and providing the highest possible level of client service.
Accept Responsibility
Toyota’s Approach – Toyota first blamed the brake problem on floor mats that jammed the accelerator and issued only two small recalls in 2005 and 2007. They simply refused to believe that there was a mechanical error. By the time they finally issued a major recall of 2.3 million cars in late January 2010, their reputation was suffering and the government became involved. Worse, Toyota’s President remained silent for days after news of the recall broke.
Lessons for Lawyers – It is important to own up to mistakes quickly and to remedy the situation as soon as possible. As a lawyer, if you notice there have been billing errors or a mistake made in litigation, or a deadline missed, it is critical to address the issue head on with the client. Accept responsibility. Discuss what went wrong, how you will remedy the situation, and how you will prevent future errors. Proactively addressing problems with your clients builds trust and can help you preserve a client relationship that may otherwise have been lost.
Focus on the Client
Toyota’s Approach – Experts say that one of Toyota’s problems was corporate arrogance. They had become so accustomed to success that they were unable to adequately address problems and had lost their focus on their customers. They have been accused of “resting on their laurels” and failing to keep pace with customer expectations.
Lessons for Lawyers – For lawyers and law firms, this can be a serious problem. Experienced lawyers and successful f
irms often take their clients for granted and can become out of touch with client concerns. Toyota was so successful for so many years because it did not just meet customer expectations—it exceeded them. To exceed client expectations as a lawyer, you must focus on what clients want consistently over time.
Develop a superior knowledge base in an area of law, be solutions oriented, follow-through on commitments, manage client expectations, and be proactive in anticipating and meeting client needs.
A client-focused law firm relies on the opinions and impressions of its clients to deliver service and drive future business decisions. Consider developing and conducting annual client surveys, focus groups, or interviews to stay focused on your clients and their needs. Soliciting client feedback will allow you to:
- Expand and Strengthen Client Relationships – Asking for feedback and suggestions lets your clients know you care about what they want and are committed to making changes in order to retain their business
- Identify Service Offering Gaps – Ensure you are delivering all of the services your firm is capable of delivering and that you choose to selectively expand to deliver more services your clients need
- Cross Market your Services – Understand client awareness of the services you offer and reveal cross-marketing opportunities
- Uncover Client Needs – that might now be delivered by your competitors
- Grade your Marketing Efforts – by identifying what marketing efforts resonate and have a positive impact on your clients’ and those that don’t
- Determine How Often and on what Topics your Clients are Interested In – Discover the most effective and appreciated forms of communication with your clients as well as the topics of greatest interest to them.
Manage your Growth
Toyota’s Approach – Toyota developed its reputation for quality due, in large part, to its widely admired Toyota Production System—a manufacturing system that focused on continuous improvement, shared learning across plants, and employee empowerment. Experts blame the recalls on Toyota’s rapid growth over the past 10 years, from 58 production facilities in 2000 to 75 in 2009. This rapid expansion meant that Toyota was not able to effectively share corporate culture, technology, and know-how between all of its plants.
Lessons for Lawyers – While growth in a law firm is generally not rapid or widespread, law firms opening new offices, expanding practice areas, or adding new associates can learn a lesson from Toyota. Don’t sacrifice client service or your firm’s reputation simply to expand your market share. It is important to ensure that the level of growth is matched by a commitment to quality service. New lawyers and lateral hires need mentoring both to learn substantive law and also to learn the firm culture and understand client needs. New offices should be opened only where and when they can be used most efficiently and effectively to serve client needs.
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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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A Lawyer’s Guide to Social Networking
By Terrie S. Wheeler
Twheeler@MarketYourLawPractice.com
With all of the new social networking sites popping up, sites like MySpace, LinkedIn and Facebook have been joined by hundreds of others. If you print this link you will have over ten pages of social networking sites listed on Wikipedia.org alone including the name, description, number of users, registration requirements, and global ranking. Wikipedia defines Social Networking as:
A social network service focuses on building online communities of people who share interests and/or activities, or who are interested in exploring the interests and activities of others. Most social network services are web based and provide a variety of ways for users to interact, such as e-mail and instant messaging services. Social networking has encouraged new ways to communicate and share information. Social networking websites are being used regularly by millions of people.
Social networking has changed the way we build relationships by opening a previously one-on-one interpersonal process – - into the electronic world of global cyberspace. Professionals are jumping onto the bandwagon too, and because of this, we would like to provide a few practical tips on your journey to not just understanding, but utilizing and benefiting from this amazing – - and free – - technology.
A Few To-Do’s as You Get Started
Build a Solid Profile – each site allows users to build a personal profile. Spend time ensuring your profile accurately represents who you are as a professional, includes your photo, and is well written and free of typographical errors.
Invite your Contacts to Join You – extend invitations to your best contacts asking them to join you. Your social networking efforts should be built around your current business relationships
Update your Status Daily – Most social networking sites ask questions like “What are you working on?” or “What are you thinking?” Make sure you focus on your professional reputation when you update these little snippets.
Stick to Business – If you join a personal site like FaceBook or MySpace, make sure you keep your updates focused on the activities you are pursuing as a professional, not on what you drank and with whom last Saturday night
Manage your Privacy Settings – every social networking site allows you complete access over who can see your profile. You can even control what parts of your profile certain people can see.
Choose your Friends Wisely – Social networking sites all have a process where you invite someone to connect with you online. Then, the recipient of the request needs to affirmatively acknowledge their desire to add you (or vice versa) to their contacts. Don’t randomly connect with people, be strategic and only connect with those you know or met professionally.
Look into Aggregator Services – there are web-based services like www.delicious.com that will take your status updates and automatically disseminate your update to all sites you are a member of. Make your social networking time as efficient as possible!
Join a Group and Interact – sites like LinkedIn allow you to join affinity groups. Research groups that attract others like you including, Legal Marketing (5,000 members), Legal Blogging, (2,700 members).
Add an RSS Feed of your Blog to your Social Networking Page – if you also decide to join the “blogosphere,” make sure you add a Really Simple Syndication (RSS) feed to your blog on your Facebook or LinkedIn profiles.
Additional Resources on Social Networking:
Link: Social Networking Sites on Wikipedia
Book: The New Rules of Marketing and PR, November 2008, David Meerman Scott
Book: World Wide Rave, March 2009, David Meerman Scott
Book: Social Media Marketing: An Hour a Day, October 2008, Dave Evans and Susan Bratton
10 Ways to Use LinkedIn, Guy Kawasaki
www.Delicious.com – Social bookmarking site
www.Digg.com – Social bookmarking site
www.Ping.fm.com – Social media communicator to multiple sites
www.Wordpress.com – blog spot
www.Typepad.com – blog spot
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Effective Networking Strategies for Solo Practitioners – Part II
By Terrie S. Wheeler
This post continues identifying more of the traits and characteristics demonstrated by lawyers who are exceptional at networking:
Create your A-Level contact list – Think of those you know and trust and whose opinions you value: role models, mentors, those who comprise your support system, and those with whom you share common interests. Consider current and former clients, referral sources, acquaintances from your place of worship, neighbors, former co-workers, college and high school classmates, and service providers with whom you have a long-term relationship (doctors, dentists, accountants, insurance agents, stylists, or service/repair people). Cultivate, nurture and manage your relationships. Stay in touch. Be sure your contacts know the basics of your “Elevator Speech”
Always make time to meet with a prospective referral source – Good referrals come from solid relationships. Relationships start with meetings. It’s likely that well over 90% of your future business will come from referrals. Do your very best to find time to meet with quality people.
Follow up and follow through – Maintain contact with those you meet and keep contacts apprised of your actions on their behalf. Do what you promise – always. When a contact has referred you, let them know how things have progressed. When you meet someone at an event and offer to send them…or put them in touch with… Do it! Exceed their expectations of the relationship from the start.
Make it easy for your contacts to refer you – Create a summary of your specific areas of expertise and a brief biography. Include examples of your representative experience. Email this to your referral sources as a PDF document so they can easily forward it to prospective clients.
Focus on quality, not quantity – When evaluating a possible referral source; ask yourself, “Would I refer this person to one of my clients?” If not, find someone else with whom to build a relationship.
Show them you’re thinking of them – Send copies of articles you think would be of interest to your referral sources – as well as keeping an eye out for their firm in the news – and acknowledging coverage.
Track your success – Keep track of those to whom you send referrals as well as those who send prospective clients to you.
Say “Thank You” – Thank those who refer business to you – a personal hand-written note is most effective; a personal telephone call next best; then an email if it’s that or nothing. A “form” letter is the least favorable.
Support one another – Form a small group within your firm or business community to meet, compare notes on networking activities, brainstorm new ideas and most importantly – to hold one another accountable to meeting one’s relationship building goals.
Effective networking skills will enable you to build, nurture and grow relationships with your contacts and clients. Networking is truly at the core of every lawyer’s success in marketing. Go back and revisit the suggestions from Part I of this series and select a few areas in which you can improve, so that at your next event, you too will be a stellar networker!
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Effective Networking Strategies for Solo Practitioners – Part I
Lawyers who are successful in marketing are almost always effective at building and nurturing relationships and helping others succeed. Effective networkers weave networking activities through the fabric of their professional practice. This post is the first in a two-part series on the traits and characteristics of lawyers who are also great networkers:
Command trust and respect – People must like you, trust you, and respect you – then they will refer business to you. Think of those to whom you make referrals – this should help you understand how others might be looking at you before making a referral to you.
Make a great first impression – Greet others with a firm handshake and strong eye contact
Develop a benefits-focused introduction – Create and refine a short statement about yourself – what you do, how you are unique, the benefits you provide through your service, the type of clients you like to serve. What are the traits and characteristics that differentiate you from other professionals?
Focus on the other person – Focus on how you can help them be successful; introductions you can make and ways that your unique skill set and expertise can provide support. Ask questions and demonstrate a genuine desire to learn more about the person to whom you are talking. Remember names and details of those you meet. Use their business cards to jot down relevant notes (kids, hobbies, upcoming vacations).
Let others know you have referred them – Always let someone know when you referred them, even if the referral doesn’t turn into business, you get “points” for thinking of the person.
Expand your horizons – Spend time building relationships with new people, not just hanging out with your current referral sources. Involvement in industry and trade associations attracting your prospective clients is a great way to make connections. Think about groups attracting those who have referred business to you in the past. Be willing to step out of your comfort zone and extend yourself to new people.
Know what you want in a client – Be very clear on exactly the type of work for which you are looking and the criteria a client must have for it to be a “good fit” with you and your firm.
Listen for and capitalize on opportunities – Be tuned to situations where you can provide benefits to others through the services you provide OR by introducing the individual to someone else in your network.
Think of your peers and referral sources – Remember you are not just networking for your own personal benefit; you are also networking to generate contacts for your peers at the firm as well as for your business contacts and referral sources. Focus on how you can help the person to whom you’re talking.
Know the broad capabilities of your firm – Know how your firm can fully serve clients and prospective clients. This practice helps to build relationships with all of your contacts – clients, referral sources, and colleagues.
Visit www.MarketYourLawPractice.com
Visit www.PSM-Marketing.com
Visit my LinkedIn Profile
Visit my Facebook Profile
Visit me on Twitter Visit my Lens on Squidoo
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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