Part two - "presence, precision , price"
When It Comes To Law Firm Marketing---Done Is Better Than Perfect.
When it comes to marketing your law firm 80% is good enough!
Do not wait until you have the "perfect" brochure on "perfect" paper to start handing it out. Get your website to the point where it's good enough and then launch it! You can always fix the shading of the photo on the About Us page at a later time.
I have encountered far too many attorneys who mentally torture themselves going over the copy for their website or brochure five or ten times because they are so concerned about how it "reflects" on their law firm. Which reflects worse on a law firm-a website that's 80% of what it should be or no website at all?
It's the Niches that Lead to the Riches!
I know you have heard me say this before, and yes, I know you continue to resist it. However, the more you can target a specific niche, like an industry or profession, the easier you can dominate your competitors and the faster you can gain recognition as an expert!
Let me give you an example of a poorly defined niche:
- Small business owners in Phoenix who need an estate plan.
Here's how to locate a better target:
- Physicians in Phoenix who own a medical practice, gross at least $500,000 annually, and need asset protection strategies to grow and preserve their wealth.
If you are primarily a business to consumer (B2C) law firm, like personal injury, estate planning, divorce/family law, criminal defense, DUI, immigration, workers compensation, and consumer bankruptcy, focus on their demographics like:
- age
- gender
- geographical location
- income level
- job or profession
- major life challenges, etc.
If you are primarily a business to business (B2B) law firm, like commercial litigation, intellectual property, or business transactional law, include the following items in your definition to help keep you on track:
- your perfect client's profession or industry
- geographical location
- annual revenues
- number of employees
- core challenges.
Emphasize Price at Your Own Peril!
Yes, I know you are having a difficult time making payroll and keeping on top of your bills, but fight the temptation to resort to selling on price. This is not the time to reduce your rates just to pull a few more clients in the door.
It's often the price shoppers who are the most demanding of clients, who take up more of your time, who complain more frequently and are often the slowest to pay invoices. I had to learn this the hard way in my own business.
One last thought on pricing, in these tough times who is more price sensitive-blue collar workers or affluent, white collar executives? In general, the former are more sensitive to price. By emphasizing your price and targeting the lower end of the market place you will attract lower socioeconomic clients who quickly kill your profit margins and destroy your chances at long-term wealth. Emphasize price at your own peril!
