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How to Establishes a Competitive Advantage with a Law Firm Marketing Plan
Many attorneys, law firms and independent professionals fail to establish a clear competitive advantage within their market.
A true competitive advantage is not only unique to your law firm; it is also difficult to copy.
There are four basic ways to create a competitive advantage in your market.
The four ways a law firm can establish a competitive advantage within a market are:
1). Pricing
An example of this would be carving out a position as being the lowest price provider within your market.
This is never a strategy I recommend to my clients but there are other pricing strategies that can be effective.
2). Product
While the “product” in a law firm, consulting business or other professional service firm, is advice, there are many different ways to offer that product to the client.
The idea is to differentiate your offering based in the client’s perception of value. The more valuable your product is to your client, the more you have differentiated yourself.
3). Service
This is an area where many attorneys have an opportunity to offer a clear competitive advantage. You can “guarantee” that you will return all client phone calls within two hours. You can “guarantee” that you will review all client documents within 72 hours.
These kinds of “service guarantees” are great examples of a competitive advantage because your competition will be fearful of coping you.
4). Positioning
Your marketing can and should offer you a competitive advantage.
The way you hold yourself and your firm out to the public will help you create some separation between your firm and your competitor’s firms.
Do you take every client that comes along or are you exclusive?
There are numerous ways to create a competitive advantage within your market. If you are having trouble differentiating your firm from others, give us a call.
Dave Lorenzo - 888.692.5531