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Message: Hi, I thought you might be interested in this article I found. How and Why to Develop a Marketing Plan for Your Law Firm Does a Law Firm Really Need a Detailed Marketing Plan? Yes, it really does. Would you go into litigation without first having a complete understanding of your client’s needs? Of course you wouldn’t. Doing so would be a waste of your time and a waste of your client’s time and money. And it would probably lead to disaster. In the same way, law firms need to develop and develop a detailed marketing plan before spending time and money on marketing efforts that may not get them to their desired set of outcomes. I am always surprised to hear just how many attorneys and try to market their law firms without a plan. Many lawyers try not to think of themselves as being in a sales related business; the simple fact is that they are. Law firms sell legal services. This truth does not negate the quality of the legal services you offer, but it cannot be ignored if you are going to build a successful practice. Marketing is the cornerstone of any successful sales related business. Without clients, there is no cash flow. Without cash flow, there is no firm. Marketing connects you to clients. A detailed marketing plan helps to ensure that this initial connection turns into a relationship that is beneficial to both the firm and the client. Since marketing is so critical to business, there are countless theories available about marketing, branding, positioning, client emotions, and the list goes on and on. However, when you pull back all the layers, the basics of how to build a strong legal marketing plan remain the same. Let’s take a look at how and why attorneys and law firms - particularly small law firms and solo law practices - develop a marketing plan. Good Marketing Begins with Good Research Before you start your marketing efforts, you have to know where your firm stands in the marketplace. This means research. Get to know the competition. What are they doing in terms of price, advertising, and branding? What services do they offer? Find out what your clients think of you. Do you have a reputation that works for your firm or do you need to rebrand yourself? Look closely at all the services you offer and the ones that you don’t. Are you missing an opportunity to create a niche in a particular market? Are you stretched thin because you are offering too many services? Are you not getting clients in the door because you’re not offering the services that are most needed in your location? Clearly Define Your Firm and Its Objectives Before you start marketing, it is important to know exactly where you want your firm to go. Think about why you started this firm in the first place. What goals did you have in mind? Define all of your major goals, the financial and the nonfinancial alike. Working as a lawyer to make the world a better place is admirable, but you will only be able to continue to provide your services if you have enough money coming in to pay the bills. Financial goals are just as important as the nonfinancial. Decide on what to specialize in. Almost every attorney and every firm will serve themselves well by defining a niche in their market. The long term effect of specializing is that you are able to position yourself as an expert in a certain area of law. The only time this is not a good plan is when there are simply not enough clients in your geographic region for specializing to make sense. If you are the only lawyer in a small rural area, then generalizing may the most effective way to maintain a steady flow of clients. Decide how you will brand your firm. Who are you and what makes you unique? Why should a potential client choose your firm? These are questions you need to answer for yourself before you can proceed in your marketing efforts. Knowing and believing in what it is that sets your firm apart will inform all of your marketing decisions and your client interactions. Think about what types of clients you want to attract. Who will you market to and why? What qualities do you want these clients to possess? Do you want to attract the client who is only looking for the best deal? If you are in a market where there is an overabundance of clients looking for the type of services you offer, then this may be a fine option for you. Just remember that clients who are only looking for the best deal may decide to leave your firm if they find a cheaper option. Develop a Detailed Marketing Budget Your firm’s marketing budget should be approximately 7-8% of your overall budget. If you have not been doing any marketing at all or if you are new to your geographic area, then this may be more in the beginning. Your marketing budget needs to include the cost of research, public relations, press releases, client retention programs and any specific advertising space that you buy rather it be in local magazines, television, or radio. Make wise choices about how to spend your advertising dollars. Using it all on one commercial during the Super Bowl may not get you the return on investment that you’re looking for. Spending money to increase the services you are providing to existing clients is a very smart way to use your marketing dollars. You will need to decide whether or not to utilize the services of a marketing firm. Depending on the size of your firm, most marketing can be managed in house, either by the lead attorneys or by an on staff marketing person or marketing department. More and more marketing firms who specialize in legal marketing are springing up every day. If you do choose to use a marketing firm, choose one that specializes in legal firms. Choosing an attorney is not like choosing a soft drink. Your run of the mill marketing firm may not be able to provide you with services that fit your unique needs. Marketing Plan Maintenance Like any good plan, a marketing plan is only useful if it is put into place. Be sure to review your plan including your overall goals at least once every quarter. Make adjustments along the way to ensure that you don’t get off track. Evaluate your ROI or return on investment to make sure that your marketing budget is making money for your firm. Link: http://www.rainmakerlawyer.com/site/permalink/how_and_why_to_develop_a_marketing_plan_for_your_law_firm/