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several logical and emotional steps before considering a purchase (in this case, legal advice).
• We start by gathering data, collect
brochures, compare attorney cre-
dentials, facilities, price, etc.
• We browse websites and review tes-
timonials.
• We look for key components to fa-
cilitate our decision-making pro- cess.
When fact- nding, consumers are
actually making emotional purchases. is marketing strategy requires a focused message! You’re not just “bee ng-up” your advertising; you’re enhancing and ne-tuning your repu- tation platform with every promo- tional piece. ese highly targeted marketing tactics necessitate you to
do a client inventory, for example:
If your specialty is family law, you may nd that the bulk of your business comes from adoption work, followed by elder law, etc. Your goal: become the resident authority on elder law, adop- tions, assisted reproductive law, etc. e aim is to do business with those people who have a history of, and ad- ditional need for, your targeted skills.
Hence, those people who already believe in the bene ts of legal services identify themselves. ere’s no need to waste valuable time and money trying to convince people who aren’t buying what you’re selling.
Once you establish your presence as the person that will alleviate their dilemma, o er these prospects an in- centive (within guidelines of course); reward them for taking action to solve their problem. Show these prospects that you understand their needs.
Your incentive can be whatever you believe has the highest perceived value to your prospects; for instance, a speci c dollar amount available of instant credit with your rm good to- wards future services, etc.
Your initial reward or special incen-
tive is just a one-time acquisition cost your practice. e lifetime value of acquiring new clients could easily be worth thousands of dollars or more to your rm. Also, if your competitor has dropped the ball, their clients are waiting for a chance to change loyal- ties.
ese clients represent the largest and richest pool to your rm!
You’re asking these clients to “jump ship;” is your proposal enticing enough to break loyalty factors? Keep this in mind when you’re creating your o ers.
THE “BEST” AVAILABLE CLIENTS
Target the segment of your com- petitors’ business that makes the bulk of their receivables: that 20% of clients that makes up 80% of their practice’s revenues (based on the Pareto prin- ciple).
Incidentally, do you know the val- ue of each of your clients (aka their lifetime value)? Your client’s lifetime value represents the average pro ts you receive from them over the entire time you expect to do business with them. Everyone knows that clients are the lifeblood of every business; how- ever, very few practices fully under- stand the nancial impact each client can have on their practice.
Until you quantitatively know the worth of each client, you cannot pos- sibly know how much you will spend to get a new one; or, how much it can cost to lose each client.
DO SOME RECONNAISSANCE
Be conscious of what your competi- tors are promoting to their prospects. Monitor the publications and social media sites your competitors appear; i.e., business journals, newspapers, Facebook, LinkedIn, and so on.
List all the potential reasons why your competitors’ clients might be dissatis ed. You might nd your com- petitors’ promotional pieces are lack-
AttorneyAtLawMagazine.com
ing key motivational elements. For instance,
• ey feature a generic laundry list
of legal services.
• ey don’t acknowledgment the
prospects’ potential problems, nor
o er solutions.
• No enticing o ers; no testimonials,
etc.
CREATE SOLUTIONS
Depending on what you nd from your investigation, this will allow you to create promotional campaigns that will accomplish the goal of enticing and attracting more clients to your rm.
Illustrate three valuable bene ts about your rm to compel prospects to choose you over all others; use strategies and incentives to reassure your prospects that you’re the right rm for their needs.
Henceforth, you must continu- ally review what your competitors are promoting, and ask yourself “what do prospects want that your competi- tors aren’t providing?” Now, you must prove and demonstrate the credibility of your claims as they relate to your services.
Finally, you MUST protect your rm too. Create deep relationships with your clients (ones that foster pro- found loyalty). Remember these new clients are in front of you because your competitor failed to serve their needs adequately.
It is incumbent on you to thorough- ly demonstrate that you are indeed the superior alternative to anyone they’ve ever worked with in the past.
CLAUDIO GORMAZ IS A LEGAL MARKET- ING STRATEGIST AND CO-FOUNDER OF STEVEN VONLOREN MARKETING STRAT- EGISTS. HE IS ALSO A HIGHLY ACCOM- PLISHED FREELANCE CONTENT WRITER. HE HAS WORKED WITH THE LEGAL COM- MUNITY FOR NEARLY THREE DECADES. HE CAN BE CONTACTED AT (951) 294-2274, STEVENVONLOREN.COM, OR AT HIS PER- SONAL EMAIL [email protected].
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