Page 7 - Los Angeles Vol 5 No 1

No. 6: Ask for Alternative Fee Arrangements.
Rather than the billable hour, see whether there are ways to structure some or all of the fees based on re- sults. This can be tricky and you have to be careful about ethics guidelines but there are ways to pay reduced rates and contingency payouts for any professional service. I’ve even heard of lawyers doing such things ....
No. 7: Ask for a Guarantee.
No marketing consultant can guar- antee results. This is because the cli- ent will often resist change or fail to act. But consultants can still offer cer- tain guarantees.
I recommend asking for a “30 Min- ute Guarantee.” This states during the rst 30 minutes of consultation, they agree to refund your entire retainer if you don’t feel the consultant is both quali ed and a “good match” for your speci c needs. This is basically a guarantee against those who would give you “Pet Shop Consulting.”
Another bene t is that this may provide evidence as to the level of con dence they have in what they are offering.
No. 8: Competition Produces Better Results.
The Best. They may be the brilliant, new up-and-comers or they may be seasoned pros with a proven track record. The one thing they will de nitely bring to the table is clearly de ned strategies that make sense to you. You will know on an instinctual level that they can help you or your rm.
If a consultant does well in the pitch process, give them a shot but rst shop them. Moreover, let them know you’re shopping them. Rates, deals and more can change, the mo- ment a vendor knows they’re going against a competitor.
The Worst. They make big promises but offer no advance insight or summation of what they will provide. They want all the money up front with no guarantees or even speci cs about what they will provide. Their counsel would be as helpful to a pet shop owner as an attorney.
No. 9: Go with Your Gut.
When all is said and done, go with your gut feeling. If it’s a new consult- ing rm but your gut (and the pay- ment arrangements) tell you they will help you to get clients in the door, give them a shot. Just remember to minimize your nancial and time commitments accordingly.
Those In Between. They may not be the worst but they’re not the best for your speci c needs. They may be pretty good on a generic level or for another eld but they’re not exactly what you need.
On the other hand, if the most expe- rienced and branded pro in the busi- ness gives you a visceral reaction for some reason, don’t sign the check. There are few comments that express regret like “I should have gone with my gut.”
If you’re going to pay a marketing consultant for their expertise, make sure they fall into the rst category.
The Street Smart Rule of Three
Frederick Shelton is the CEO of Shelton & Steele, a legal recruiting and consulting rm, based out of Las Vegas. Since 1993, Frederick has worked with associates, counsel, partners, groups and coordinated law rm mergers & acquisitions.
Like all professions, legal (or other niche) marketing consultants can be categorized into one of three groups: