A Law Firms Marketing Madness: Cutting the Budget is a Bad Move
Many large law firms have been cutting their marketing budgets during the past couple of years. This is being done as a reaction to the broad economy and the perceived weakness in the demand for legal services. These law firms marketing madness will only make things worse.
Cutting the law firms marketing budget during difficult economic times is the wrong approach. A down economy is exactly the right time to spend MORE on marketing. Here are three reasons why:
Clients still need you to solve problems.
Do you really think there is a shortage of legal issues during a down economy? Come on now. Clients have either chosen to ignore their issues or they have put off fixing them until the economy improves. Your job (as a law firm business owner) is to help potential clients realize that their problems must be addressed now. It shows that you still involved in the community/industry.
Since we practice educational marketing, we are always providing value to our clients.
If you continue to provide this value, even during an economic downturn, you will build your credibility and goodwill within your community/industry. Law firms marketing in a recession are perceived as strong. Law firms marketing using educational marketing provide their clients and prospective clients with value. The combination of these two factors makes them unstoppable.
The return on investment is still there.
Think like a business owner. If you invest a dollar and you receive three dollars in return you have made a good investment. That’s what marketing is all about. Good marketers find out what works and they invest in it and leverage their investment to receive a great return.
Law firms marketing in a recession are rare but that’s all the more reason for you to INCREASE your marketing during tough times. Make the investment.
You’ll be glad you did.
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EmailLawyers Marketing and The Lies They Tell
There is one big lie that currently affects lawyers marketing activity. It is the concept that just being a good lawyer is enough to help you attract clients. Here’s how this usually plays out:
A WISE OLD MAN sits down with a group of young lawyers. He tells them that they must pay their dues. They must handle crappy cases for little money for years and years. Then, finally, when everyone knows they are a good lawyer, the good clients will come.
The WISE OLD MAN tells them this is how it happened for him. He says that he doesn’t believe in lawyers marketing to get clients. He shares stories of attorneys on TV and billboards bringing the profession down. Then he cautions the young lawyers not to BE LIKE THEM (meaning the unethical,immoral lawyers who spend time on marketing).
I believe you are smart enough to see through this façade. Here are just three reasons why this argument falls apart:
First: If you don’t promote your law firm and your services, nobody will know how great a lawyer you are. THE WORD simply doesn’t spread by itself. People don’t simply hear about great lawyers through the grape vine. Yes, some folks in your neighborhood may learn of your reputation. Sure the judges and/or your peers may think you are a great lawyer. Both of those things are important but they will not get you the number of new cases you need to pay your bills. The world deserves to know how good you are. Marketing gets THE WORD out to the people who need to hear it.
Second: Most lawyers marketing themselves are ethical. They follow the guidelines set by The Bar and they represent themselves appropriately. Because they are ethical, they don’t receive the same attention as the bottom feeders who lie, cheat and steal from clients. Legal marketing can be done ethically and in a way that makes the lawyer and the profession look good.
Third: The WISE OLD MAN is doing his best to keep you from competing with him. Most great attorneys are intensely competitive. If someone was going to compete with you, in your market, how willing would you be to give them a road map toward the best clients? Think about it. Whose interest is the WISE OLD MAN protecting?
Lawyers marketing their law firms are not bad for the profession. If it is done correctly, attorney marketing can highlight everything that is good about it. Don’t believe the lies of the WISE OLD MAN.
Late Night Debacle is a Lesson on Writing an Attorney Marketing Plan
Once again there is trouble on the late shift.
In case you have not been following entertainment news, here is a brief overview:
In September 2009 the NBC brain trust moved Jay Leno into a one hour show at 10PM. This move dislodged him from the Tonight Show (which he hosted since 1992). Conan O’Brien became the new Tonight Show host. The NBC Brass loved the move since they were able to profitably sell the new 10PM show to advertisers. (A talk show is much cheaper to produce and air than a scripted show with an ensemble cast).
As it turns out, nobody likes watching Jay Leno at 10PM and only a few people like watching Conan on the Tonight Show. The affiliates (television station owners) are really angry. NBC screwed up royally and they needed to fix it.
So what did they decide to do?
They tip toed around behind the scenes and opened negotiations with Jay to move him into a 30 minute show at 11:35PM (that is currently when the Tonight Show starts). This means the Tonight Show would need to be moved back a half hour. Once Conan got wind of this he was not happy. Although an agreement is imminent, the drama played out on TV, in the newspapers and on line. In the end, it will cost NBC tens of millions of dollars and much more than that value in talent (Conan will probably end up leaving).
Here are three things we can learn from this mess:
When something works, stick with it until it stops working. Don’t tinker with it just because you can.
Conan O’Brien always wanted the Tonight Show and he has demonstrated that he would wait for it. His contract was not up yet and neither was Jay’s. The ratings for both shows were good. But NBC wanted to cut costs during the 10PM hour. So they made this ridiculous deal with these guys. They messed up a good thing.
We do this kind of thing all the time. We come up with a client acquisition tactic that works and then we tinker with it.
What do I mean?
You go to a networking event, you meet a few people, you follow up with them and you get new business. But then you don’t go to another event for six months.
You give a speech and it results in a couple of good new clients. Instead of looking for other venues to give that same speech again, you decide to give a different speech that doesn’t work as well.
When something works, stick with it until it stops working. If you give a speech to a group or trade organization and you receive a positive response, give that same speech to a different group (within the same industry). If networking brings you new clients, stick with it until you simply can’t shake another hand.
Don’t mess with things that are working just for the sake of making a change.
Put the client at the forefront of any new business strategy.
NBC thought they knew what was best for the viewers of late night television. Magically, this aligned with their desire to cut costs. It appears that NBC wanted to do what was best for NBC and the viewers’ desires were secondary.
Every day you face choices that affect the wellbeing of your law firm. It is easy to make those choices when they are black and white - either good or bad for your client. It is not easy to make those choices when they are grey.
Always be guided by giving the client the greatest value for their investment in you. This is the most powerful advertising strategy you will ever employ as it is the key driver of word of mouth.
Do what you love because you love to do it.
Both Jay and Conan are making light of their situation. They realize that it provides them each with an opportunity to get some laughs. And that’s what they love to do, regardless of when they appear on television.
If you don’t enjoy being an attorney (at least 80% of the time) you need to make some changes. Your passion for your profession and your desire to help your clients will make all the difference in the results you get.
Ultimately, the current late night television situation will be a footnote on the careers of both of these gentlemen. It is media fodder now but it will all be forgotten with positive ratings results. But this debacle for NBC serves as a reminder that good planning is far more valuable than most of us realize.
Think things through from every possible angle. Most of the time big mistakes are just not this funny.
Tiger Woods Turns Tail and Loses Credibility
The entire world is watching as Tiger Woods’s career rushes at 120 miles per hour into a brick wall.
His handling of the public relations aspect of his infidelity has been a train wreck that will probably cost him his marriage, hundreds of millions of dollars and his personal credibility.
Just about every day for the past few weeks a new revelation about this guy has turned up in the news. Each one is more damaging than the last. Some of them might even be true.
To this point, Tiger’s strategy has been to make a vague admission and run and hide.
That strategy never works.
Ask Bill Clinton. Ask Alex Rodriguez.
If there is more, it will come out. And it will be ugly.
Tiger needs to come forward, in person, make a statement, answer questions and face his fans.
Should he have to? No.
Should this be a private matter? Yes.
But if Tiger wants to end the speculation and all the tall tales that are being spread (some of these stories are definitely concocted by people who want their 15 minutes of fame) he needs to take control of the story. The only way to do this is to get out in front of the cameras, make a statement and then answer questions.
It will be painful but at least it will be the truth.
The media loves misery and they love to perpetuate a story that involves sex and money. If Tiger tells all he leaves the media no place to go with the story. He also sends a message to anyone making up stories about him – I will set the record straight.
Until Tiger takes control of the story it will grow and morph into something really, really ugly and it just might kill his career.
What can we learn from this?
When you make a mistake with a client you must take responsibility. Tell them the truth and try to make things right. This is not only the right thing to do from an ethical standpoint; it is the right thing to do from a HUMAN standpoint.
Just about every day someone asks me how to attract new clients. They are looking for the marketing secret to getting rich. The biggest secret I can teach you is to do everything possible to keep your current clients happy before you go running off to find new ones.
Tiger Woods is losing fans and sponsors at a rapid pace – not because of his sexual indiscretion – but because of his lack of backbone.
People forgive mistakes. People forgive human weakness.
People do not forgive a cover-up or cowardice.
The Five Key Leadership Qualities of Successful Lawyers
Managing a small law firm is not just about practicing law and acquiring clients. It is about leadership. Even if you are in a solo practice, you have to think like a CEO. In a large law firm you might be able to hide and get by as a worker bee. But small law firms and solo practices have a way of highlighting an attorney’s best and worst traits.
Practicing law has always required leadership. However, many attorneys like to see themselves as public servants. This is fine, but to grow your law firm, you will have to become an effective leader.
Leadership starts with clearly defining what a leader is and is not. Attorneys have to realize that management and leadership are not the same things. Management is reactive, while leadership is proactive. Managers take what is handed to them and make sure that everything goes according to the plan that was laid out by the leader. Leaders reach out for what they want and they chart a course for success. Whether you realize it or not, the day that you decided to open a solo practice or to run a small law firm was the day that you agreed to be a CEO.
If you want to lead your firm into a bright future, then you will need to lead your law firm. Following are the five key traits of effective law firm leaders.
1). Leaders take responsibility. In law, just like in life, things will not always go as planned. Pointing the finger, however, is a waste of time and energy. Yes, you need to review what went wrong so that you make better choices next time. And yes, there may very well be someone on your team who is not doing their part. But the odds are that you hired that person. So, once again, the buck stops with you.
Part of taking responsibility is admitting when what went wrong was your fault. Don’t hide behind excuses of how busy you are or try to explain away your mistakes. Be honest with yourself and the people you work with. They will respect you more for taking responsibility than for trying to avoid it.
Accept that challenges are a part of operating any business, including a law firm. Don’t spend too much time navel gazing and pondering what went wrong. Get back on the horse and try again.
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