Law Firm Marketing and Business Growth
What are key elements to make marketing successfully ?
Anyone watching this video should make it a point that, Marketing is psychology and
mathematics Can you elaborate what you mean by marketing
being psychology and mathematics? Let me answer that question using an example
.You see for us marketers.We are used to write long letters, who do not know anything about
marketing complain that letters are too long . people are not going to read it. Who is
going to read this 10 page letter or 25 pages letter ,but every expert know that long letter
sell more that short letter. The more you tell the more you sell. now what the direct
response person will say that if someone is sick and you send them a long letter high
places The question is, “Will they read the letter?” It doesn’t matter how long the letter
is they are going to read it without complaining about the length. If all have this thing on
our head, they think that people buy logically. The notion from most people is that most people
make decisions logically especially in high places..Basically it is good to make a logical
decision for you law people As you do in a court . yes you understand that even
in a court room that what sway the judge or jury is not a logical argument is the emotion,
you are selling your client and if you make all the logical argument as you make .You
got no chance .you got to play on the emotions of the jury .you know that as well as I do
and simply when you use your emotions. It does not matter whether you are dealing with
CEO of 4500 company or, the president of USA or a cleaner .They all make marketing decisions
emotionally .The think logically but decisions are taken emotionally . So it is important
that if you are creating a marketing message, your marketing message must have 3 elements:
1) Your marketing elements must have a star. 2) Must have a story
3) And must have a solution. See most people accept celebrate is the reason
is stars powers is stronger than even expertise. When you went for a doctor for treatment and
your doctor told you look this is the treatment you need and then this is what you need to
do and then you went to the specialist . And special told you this one. This one is your
private GP and the doctor on television who is on television everyday talking about that
topic and then that doctor told you what to do . What you think 9 out 10 will do, you
will listen to your doctor or your celebrity doctor .Of course you are going to listen
to that celebrity and so if you have celebrity expertise it will make you more valuable and
this is the reason you find why they use more celebrity because people will lead to them
, especially those who have come from poverty. Your marketing message must have a story.
You lawyer think logically , so you think to yourself that people make decisions logically.
The reality is we are used to hear stories. That’s why when you are doing a marketing
message. You are doing am marketing message it has to have a story of USA business person
of your origin. You may think its not important to you but trust me that the story what is
said is the logical you going to reach today. You need to have a solution. Solution needs
to be very very clear. We need to understand what benefit I am going
to give to them. The next important part of your marketing
message which call it mathematics is you need to know your numbers. You need to know the
figures. The basic figure you need to know is how much does it cost you to buy customers.
You need to understand that marketing is about buying clients.
And the passion of law firm is ability to pay client is going to win the race for client
. Therefor you need to understand the figures. There are 3 questions you need to ask yourself
: 1) What is the lost of our client acquisitions?
2) What is the lifetime value of our client? 3) What is the gap between initial sells and
profit? As a business its very essential that you
understand three figures because without understanding them your marketing will not be effective.
This is why most business spend 1000 on marketing . If you place an add that probably cost you
1000 and then you get 100 customers form if. 100 customers seems a lot but divide if to
100,00 and see how much you spend for each customers. If each customer is worth 20,000
to you or 10,000 to you then mathematics. But if you have each customers of 100 pounds
or 1000 pounds and you spends 100,00 and you can gain customers. So, basically how much
if cost you to attract client as a business it becomes easy for you to know how much you
are willing to spend to attract more clients. I had a discussion with a lawyer before and
was discussion and attracting clients for his law firm then discussing how much each
client going to make you that is 20,000. So how are you willing to spend to attract each
of those clients is less than 100 pounds. If you are going to get 20,000 from a single
client then you are willing to get just few hundred pounds to get them? It seems logical
to me that if you are going to get 20,000 from a client you willing to spend 5000 to
attract the client, because if you got one 5000 from a client that you can 20,000. if
you understand you figure. But the thing is you need to look on the lifetime value of
the client. What is the benefit, I am going to get from it and want you to know that figure.
So we need to know that figure. So we need to know the gap between initial sells and
profit. Please summarize the entire discussion for
our audience. What we have discussed so far in order to
grow a law firm, there is three steps to process. The first step is to attract customers. The
second step is increasing the volume per transaction to those customers and the third step is increase
in frequency purchases. Now what we said that it is a three step process. In terms of customer
attraction, what we have said is that in order to effectively market, you need to first craft
a convincing marketing message. The second step is that we need to identify your target
market. The third step is to identify the media through which you are going to channel
your marketing message. And then you also need to think, as we said, in terms of innovation,
demand innovation and next generation demand. You always need to be thinking What else do
my client need? What next can I do for my client? Because if you just want to grow your
business. You need to be thinking what else? What next? What else? What next? That is how
we grow a law firm. As a business in order to increase volume per transaction, you need
to look at your business in terms of demands of your customers. Look at your business through
the eyes of your customer, do not focus on your service because you run a law firm does
not mean you just focus your services on legal issues. I am not suggesting that you open
other businesses, what am saying is look at what other things you client might need. And
see how you assist in providing services to your client to make them more loyal to you.
Like the example I gave if have someone to obtain a restaurant permit in a country. You
also think about reuniting them with family because this is a service. I also need driving
license, I also need other things. That you may not provide directly but you can somehow
generate news for them. Now I am going to say two things to you. The
first one is this I do not expect you to do your marketing. I obviously do not do my own
marketing gut I expect you to understand marketing. The most successful lawyers are those who
has somewhat, somehow in life done some of the marketing. So in order to succeed as a
business owner you need to understand that you need to know how to sell? In final analysis
the most important aspect of your business is the marketing aspect. In other areas you
can subcontract, you can outsource to other people. Marketing is the very imp aspect that
you can never give it to anyone to do effectively as you. That is why its important that you
understand this. When you hire a marketing agency or staff, you need to know what results
to expect. And that is the only way to know that you understand marketing fundamentals.
So what I have given you is this is just marketing fundamental. So when you go to law school
somebody no one is to tell you about this.50% of the marketing results are wasted. They
are in a problem that I don’t know which 50%. Now if you as a business owner don’t know
what 50% that is wasted. The marketing agency will also tell you that. But if you understand
these fundamentals they are going to tell you that. The second thing I want you to pay
attention is this the enough information I have given you regarding marketing is very
complicated. Its not easy. But reality is this, if you just focus on doing easy stuff,
you will get easy result. Now its o good news and a bad news. The bad
news is
this information I have given to you is very complex. This not a simple marketing process.
So many of marketers are not going
to adopt this type of process because it is very complicated. The good news is
that your competition is not going to adopt
this process either which means that if you focus on growing business, use this information
I have provided you. Which means that if you do it, it becomes better for you. So what
should you think about as a business is how can we make our process so complicated like
that can not be copied by competitors. In the
final analysis business growth is about obtaining
critical mass. . Critical mass is a point where you no longer need to search for customers
where a current customer becomes your missionaries and bring in clients for you. And you can
do that through compound prospective. critical mass where you do not need to go and look
for customers again, it becomes easy for you. So you have current client prospective for
you doing referrals and doing other things that we ensure that you keep getting this
in constant flow of client. So there are few things I want you to remember.
First is this you need to use multiple media to transmit your marketing message. If you
use single media when you shut down like when Google, penguin came away, Google shut down
most business when out of business because they are dependent purely on internet. So
you have internet you have direct marketing. You have different ways of contacting your
client. So new regulations come, it does not affect you. The second I want you to remember
is this you make sell to get client, you do not get a client to make a sell. You need
to remember the distinction. this you make sell to get client, you do not get a client
to make a sell. Front end sells which is initial sells make you money. Back end sells make
you wealthy. So if you want to succeed as a business your focus has to be on back end
sells. Because repeaters is what going
to make you wealthy.
THANK YOU.

Law Firm Marketing and Business Growth Blueprint

8 thoughts on “Law Firm Marketing and Business Growth Blueprint

  • June 19, 2013 at 12:26 pm
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    Very informative video!

    Reply
  • June 19, 2013 at 12:57 pm
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    Great job, good info

    Reply
  • July 31, 2013 at 8:52 am
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    Very informative video!

    Reply
  • July 31, 2013 at 8:53 am
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    thanks Romeo

    Reply
  • July 31, 2013 at 12:19 pm
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    You guys know your stuff! All questions answered.

    Reply
  • March 4, 2014 at 1:35 am
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    Great tips. Thanks for sharing

    Reply
  • February 4, 2015 at 1:02 pm
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    Amen to that, this video has been very useful for me. By the way I use youtube to bring traffic to my website since I'm a video marketer. Wanna learn exactly how? In my channel you can find my video about my course that is by far the best guide on video marketing ever. You have to visit my channel to check it out. Take care

    Reply
  • January 24, 2016 at 4:59 pm
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    ABA’s “Smart Marketing for Smart Firm Lawyers” a book from the American Bar Association. My staff implemented many of the ideas to improve our law office.
    Smart Marketing and the Small Firm Lawyer
    List Price: $59.95 Author(s): Kenneth A Vercammen Sponsor(s): Solo, Small Firm and General Practice Division Publisher(s): ABA Book Publishing ISBN: 978-1-62722-484-0 Product Code: 5150468 2014, 156 Pages, 7 x 10
    Marketing is essential to the growth of any enterprise. There are many low-cost and no-cost opportunities that exist. This video explores today’s marketing landscape and outlines its many facets for you in concise and easy to understand terms.

    Any business owner will tell you that marketing is vital to the success and growth of a venture, and a law practice is no exception! This book thoroughly explores today’s marketing landscape and outlines its many facets for you in concise and easy to understand terms. This ABA book “Smart Marketing for Smart Firm Lawyers” covers:
    *Creating a blog for free*How to leverage a wide array of social networking sites (like Facebook, Martindale Hubble, Yelp, etc.)*Best practices for marketing within the law office*Low-cost and no-cost marketing activities*Tips to increase your efficiency and reach*And more!
    Included with this book is a helpful CD-ROM with digital copies of all the exhibits used in the book and the various websites that are referenced. Learn how to make the most the marketing opportunities that exist with Smart Marketing for the Small Firm Lawyer.
    Praise for Smart Marketing for the Small Firm Lawyer: "Vercammen's new marketing book belongs in the tool box and library of every lawyer regardless of firm size. Ken not only tells the lawyer WHAT to do, he shows the lawyer HOW to do it." Jay Foonberg Author of How to Start and Build a Law Practice, 5th Ed
    Smart Marketing for the Small Firm Lawyer Order details: http://shop.americanbar.org/eBus/Store/ProductDetails.aspx?productId=214498
    Service Hotline800-285-2221312-988-5000

    About the author: Kenneth Vercammen is an Edison, Middlesex County, NJ trial attorney where he handles Criminal, Municipal Court, Probate, Civil Litigation and Estate Administration matters. Ken is author of the American Bar Association's new book “Criminal Law Forms” and often lectures to trial lawyers of the American Bar Association, NJ State Bar Association and Middlesex County Bar Association.

    Reply

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