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Marketing and Positioning Your Law Firm
 

Marketing and Positioning Your Law Firm

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Presented at the ALA Region 6 Conference in Las Vegas, November 2011

Presented at the ALA Region 6 Conference in Las Vegas, November 2011

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    Marketing and Positioning Your Law Firm Marketing and Positioning Your Law Firm Presentation Transcript

    • The Strategic Mind:Marketing and Positioning Your LawFirmBrian Caffarelli, Productive Strategies,Inc.Adam L. Stock, Allen Matkins
    • AgendaPositioning your firmUnderstanding your sales pipelineMatching tactics to market needs
    • Positioning your firm
    • How will your firmstand out from thecrowd?
    • PositioningA marketing strategy that aims to make a brandoccupy a distinct position, relative to competingbrands, in the mind of the customer.Companies apply this strategy either byemphasizing the distinguishing features of theirbrand (what it is, what it does and how, etc.) orthey may try to create a suitable image(inexpensive or premium, utilitarian or luxurious,entry-level or high-end, etc.).
    • You’ve hurt your knee.Which doctor would you go to?General practitionerOrthopedistOrthopedic knee specialist
    • Who is Bert Hinkler? Bert Hinkler The 2nd person to fly solo across the Atlantic!
    • Who was the first person?
    • It is better to be first than to be best!Charles Bert HinklerLindbergh The 2nd personThe 1st person to fly soloto fly solo across theacross the Atlantic!Atlantic!
    • Who was the third person?
    • Who was the third person?Charles Bert Hinkler AmeliaLindbergh The 2nd person EarhartThe 1st person to fly solo The 1st womanto fly solo across the to fly soloacross the Atlantic! across theAtlantic! Atlantic!
    • If you can’t be first in a category…create a new category to be first in! AmeliaCharles Bert Hinkler Amelia EarhartLindbergh The 2nd person Earhart The 1st womanThe 1st person to fly solo The 3rd person to fly soloto fly solo across the to fly solo across theacross the Atlantic! across the Atlantic!Atlantic! Atlantic!
    • Brand positioning worksheetFor (target customer)who (statement of the need or opportunity)the (product or service name)is a (product category)that (statement of key benefit)unlike (primary competitive alternative)our product/service (statement of differentiation)
    • Can you spot the performance car?“The Ultimate Driving “The guiding principle behindMachine” everything we make is safety” Brand positioning drives your perception of the product
    • Understanding your “sales pipeline”
    • How lawyers and firms are hired People hire firms because of Their abilities Their comparable abilities Their different abilities  Build differentiation
    • How lawyers and firms are hiredPeople hire an attorney People hire firmsbecause because ofThey like him/her Their abilitiesThey trust him/her Their comparableThey think s/he knows a abilities lot Their different abilities Build relationships  Build differentiation
    • Your sales pipeline describes how you getbusiness Loyal Strangers Friends Clients Clients How you move prospects through your sales pipeline defines your marketing and business plan
    • Different parts of our pipeline have differentattributes We don’t know them.Strangers There are lots of them! We know them but they haven’t Friends bought from us. They may be prospects or referral sources. They’ve used our services recently. Clients They may only use one of our services. Loyal They like us a lot and use us a lot. Clients They view us as a partner in their business.
    • Different activities address different partsof our pipeline Loyal Strangers Friends Clients Clients Satisfaction: Surveys, Reviews, Teams Relationships: Events Face-to-Face: Pitches Direct Communications: Alerts, Newsletters Education: Seminars Online: Website, Blogs, Podcasts Public Relations, Directories Conferences/Associations
    • Turning strangers into friendsGOALSAttain qualified leadsACTIVITIESOnline marketing: blogs, video, whitepapersPublic relations, articlesConferences, associations
    • How to get started Identify your “for’s” and “who’s” Find out:  Where they hang out  Who they hang out with Listen:  What do they enjoy talking about  What concerns them most Be there:  Constantly  Consistently  With value
    • Blogs and social media are a cost-effective wayof finding qualified leads Blogs get higher search rankings so they can be found faster
    • Turning friends into clientsGOALSBuild credibility and familiarityOvercome objectionsACTIVITIESDirect communications: email, thought leadershipFace-to-face meetings, needs assessment
    • The critical steps I developed trust  Credibility  Rapport I helped you better appreciate your problem We crafted and owned the solution I am willing to take ownership of the outcomeProblem knowledge is more critical than product knowledg
    • Deepen and build relationships
    • Direct communications & thoughtleadership
    • Turning clients into loyal clientsGOALSBe more strategicDeepen relationsACTIVITIESClient service, Client teams, Client surveysFace-to-face meetings and seminars
    • Top 200 clients account for 60-85% of revenue 0 200Typical distribution of law revenues for top 200 clients
    • Why focus on client service? “Follow the money…”
    • Clients who see their primary law firms as best in client service deliver nearly twice the spending $1.15Million $ $0.59 Spending on Primary Spending on Primary Law Firm Law Firm Client sees as BEST in Client Service BTI Survey of Client Service Performance and Client Needs 2009
    • Shift service delivery… from the lawyer
    • Shift service delivery… to the team
    • The client review process
    • Client Surveys:There is no substitute for asking your clientsEvery client has different specific needs: Responsiveness Billing detail and formats Budgets and summaries Bench strength Business referrals Education Etc. Find out what the needs are and address them
    • It takes a “whole firm” to deliversuperior client serviceSample Client Service Improvement Checklist – everyone has a Action Who Introduce another practice group Attorneys Managing partner visit with GC Management Host a client event, Add client to Marketing mailing lists, Perform a client survey Set information alerts Library Provide a customized billing format Billing/Finance Create a Client Extranet IS, Secretaries / Paralegals Improve responsiveness Attorneys, Secretaries
    • Turn your tightropes into bridgesCommerce flows safely, securely, and reliably over bridge
    • Matching tactics to market needs
    • Madrid ProtocolThis marketingprogram droveover $200,000 inrevenue- Emails werepersonalized- Part of largerprogram- High value topic- Urgent actionneeded
    • 409A ComplianceThis marketingprogram droveover $550,000 inrevenue- Campaignincluded emails, memos,calls- High value issue- Urgent actionneeded
    • How can you stand out online? 300,000,000 web sites200,000,000,000 searches/year
    • Social media amplifies your message Traditional Social
    • Levels of social media engagement I’d like to support you  ActI’d like others that I know  Share/Tweet to know about you Friend  I’d like to join your community Like  I like your message
    • Internet video is the fastest growingpart of the web
    • Online video is a persuasive new mediumthat law firms are tapping People hire an attorney because They like him/her They trust him/her They think s/he knows a lot