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Jared D. Correia, Esq.
Law Practice Management Advisor
Law Office Management Assistance Program
31 Milk Street
Suite 815
Boston, MA 02109
(857) 383-3252
jared@masslomap.org
Leanna Hamill, Esq.
Attorney at Law
160 Derby Street
Suite 456
Hingham, MA 02043
(781) 749-2284
MCLE
Wednesday, June 16, 2010
3:30 pm - 5:00 pm
The Business Plan
o In Four Parts:
Executive Summary
Organizational Plan
Marketing Plan
Financial Documents
o Background
SWOT Analysis
o Specific Inclusions
Areas of Practice
Billing/Pricing Models
Deadlines
Confidentiality Statement
o Don’t Forget/Ignore Finances
Create a Budget
Financial Assumptions
Capital
Summary of Financial Needs
“The Lawyer’s Guide to Creating a Business Plan:
A Step-by-Step Software Package”
by Linda Pinson
ABA
Latest Edition: 2009, w/ Annual Revision
o Create a Marketing Budget
Be Specific (Create Categories)
Track Costs (Including Time Spent)
Track Referral Information from Intake Form
Tracking Information is Essential for ROI Analysis
o Develop a Niche/Specialty
A General Practice is Untenable in the Modern Market
It Is Impossible to Sell Everything; Sell One, or a Few, Things
Ethical Considerations: Modern Practice Is Far Too Administratively
Complex to Do Everything
o Utilize Targeted Marketing
Define Your Ideal Client
Find Your Ideal Client
Land Your Ideal Client
o Mission Statement
Description of Your Firm Image = Brand
Pricing: Billing Models Developed in Business Plan,
as Sales Pitch
Doubles as Elevator Speech
o Defining Your Market
Determine Your Target Market
Locate Your Competition
Observe Marketing/Industry Trends
Start by Leveraging Your Existing Contacts
o Your Basic Marketing Strategy
Location (Physical/Geographic)
Location (Reach)
Location (Placement)
Traditional v. Non-Traditional Advertising/Marketing
o Your Assignments
Specific, Assigned Tasks (Based on SWOT Analysis)
Marketing Calendar for Deadlines
o Marketing Policies
Must Present Consistent Image/Brand
Create Policies for Enforcement/Maintenance of Brand Purity
o Timing of Market Entry
Different Question than: Is Your Plan Written?
Has Your Advertising Campaign Begun?
Are You Client-Ready?
o Traditional Marketing Models
In-Person Presentations
Bar Associations and Legal Organizations
Lawyer Referral Services
Print/Television/Radio Advertising
Direct Mail Marketing
o Non-Traditional Marketing Models
Website
Blogging
Profile Websites
Social Media
Direct Email Marketing
o Know Your Audience
To Whom Are You Speaking?
Clients, for New Business
Attorneys, for Referrals
o Understand Your Tools
Elevator Speech
Business Card
Know Thyself
o Ethical Considerations
Client Contacts
Attorney Referrals
Referral Groups
o The Importance of Follow-Through
Specific Tasks Assigned (Based on SWOT Analysis)
Marketing Calendar (Including Tasks and Reminders)
Stay on Course, to Meet Goals
Keep Track of Expenditures, to Stay Within Budget
o The Importance of Periodic Review
Time: Semi-Annual Review; Review at Material Change
to Business
Theory: Make Sure You Are Meeting Your Mission Statement
Trouble: Don’t Forget to Keep Tabs on Your Competition
o Return on Investment Analysis (ROI)
Analyze Your Intake Statistics
Convert Your Costs
Keep What Works/Ax What Doesn’t
1. *This* PowerPoint
2. LOMAP Blog Posts, re: Marketing
3. Leanna’s Worksheet
Contact LOMAP
*for free and confidential law
practice management consulting*
31 Milk Street
Suite 815
Boston, MA 02108
(857) 383-3250
info@masslomap.org
www.masslomap.org
Contact Leanna
*for private or group
attorney coaching*
160 Old Derby Street
Suite 456
Hingham, MA 02043
(781) 749-2284
www.hamilllawoffice.com/coaching

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Developing a Law Firm Marketing Plan

  • 1. Jared D. Correia, Esq. Law Practice Management Advisor Law Office Management Assistance Program 31 Milk Street Suite 815 Boston, MA 02109 (857) 383-3252 jared@masslomap.org Leanna Hamill, Esq. Attorney at Law 160 Derby Street Suite 456 Hingham, MA 02043 (781) 749-2284 MCLE Wednesday, June 16, 2010 3:30 pm - 5:00 pm
  • 2. The Business Plan o In Four Parts: Executive Summary Organizational Plan Marketing Plan Financial Documents o Background SWOT Analysis o Specific Inclusions Areas of Practice Billing/Pricing Models Deadlines Confidentiality Statement o Don’t Forget/Ignore Finances Create a Budget Financial Assumptions Capital Summary of Financial Needs “The Lawyer’s Guide to Creating a Business Plan: A Step-by-Step Software Package” by Linda Pinson ABA Latest Edition: 2009, w/ Annual Revision
  • 3.
  • 4. o Create a Marketing Budget Be Specific (Create Categories) Track Costs (Including Time Spent) Track Referral Information from Intake Form Tracking Information is Essential for ROI Analysis o Develop a Niche/Specialty A General Practice is Untenable in the Modern Market It Is Impossible to Sell Everything; Sell One, or a Few, Things Ethical Considerations: Modern Practice Is Far Too Administratively Complex to Do Everything o Utilize Targeted Marketing Define Your Ideal Client Find Your Ideal Client Land Your Ideal Client
  • 5. o Mission Statement Description of Your Firm Image = Brand Pricing: Billing Models Developed in Business Plan, as Sales Pitch Doubles as Elevator Speech o Defining Your Market Determine Your Target Market Locate Your Competition Observe Marketing/Industry Trends Start by Leveraging Your Existing Contacts o Your Basic Marketing Strategy Location (Physical/Geographic) Location (Reach) Location (Placement) Traditional v. Non-Traditional Advertising/Marketing
  • 6. o Your Assignments Specific, Assigned Tasks (Based on SWOT Analysis) Marketing Calendar for Deadlines o Marketing Policies Must Present Consistent Image/Brand Create Policies for Enforcement/Maintenance of Brand Purity o Timing of Market Entry Different Question than: Is Your Plan Written? Has Your Advertising Campaign Begun? Are You Client-Ready?
  • 7. o Traditional Marketing Models In-Person Presentations Bar Associations and Legal Organizations Lawyer Referral Services Print/Television/Radio Advertising Direct Mail Marketing o Non-Traditional Marketing Models Website Blogging Profile Websites Social Media Direct Email Marketing
  • 8. o Know Your Audience To Whom Are You Speaking? Clients, for New Business Attorneys, for Referrals o Understand Your Tools Elevator Speech Business Card Know Thyself o Ethical Considerations Client Contacts Attorney Referrals Referral Groups
  • 9. o The Importance of Follow-Through Specific Tasks Assigned (Based on SWOT Analysis) Marketing Calendar (Including Tasks and Reminders) Stay on Course, to Meet Goals Keep Track of Expenditures, to Stay Within Budget o The Importance of Periodic Review Time: Semi-Annual Review; Review at Material Change to Business Theory: Make Sure You Are Meeting Your Mission Statement Trouble: Don’t Forget to Keep Tabs on Your Competition o Return on Investment Analysis (ROI) Analyze Your Intake Statistics Convert Your Costs Keep What Works/Ax What Doesn’t
  • 10. 1. *This* PowerPoint 2. LOMAP Blog Posts, re: Marketing 3. Leanna’s Worksheet
  • 11. Contact LOMAP *for free and confidential law practice management consulting* 31 Milk Street Suite 815 Boston, MA 02108 (857) 383-3250 info@masslomap.org www.masslomap.org Contact Leanna *for private or group attorney coaching* 160 Old Derby Street Suite 456 Hingham, MA 02043 (781) 749-2284 www.hamilllawoffice.com/coaching