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INVISIBLE MARKETING II.
June 24, 2008
INVISIBLE MARKETING II. Last column we startged discussing “permission marketing” by recognizing opportunities given to you by clients and prospects for future client generation. This time we will add two more business development openings.”WHAT'S NEW?”, when asked by a past contact or by a good client, opens the way to talk about: * A recent firm success * An highly regarded article written by a colleague * Or asking if they have heard about a new piece of legislation?The response should not be “the work keeps piling on,” or “same old same old.” You can't believe how many times I've heard these two. Use the question to subtly market. And for those of you who want to respond to the question by stating that your daughter recently won a gymnastics championship, do both. But do take advantage of this invisible opportunity to market the law firm.”WHAT DO CLIENTS REALLY WANT?” is the one key question to constantly ask yourself and your partners, when determining what to put into a proposal, how to organize a casual dinner conversayion or building on client retention. Another way to phrase it is “Why should I hire your firm?”Talk about strategies employed, case examples that worked, unique contributions to engagements. A recent BTI Consulting Group survey indicated that:* They do not want to know how many offices you have.* They do not want to know where you went to law school.* They do want you to know about them.
INVISIBLE MARKETING II. Last column we startged discussing “permission marketing” by recognizing opportunities given to you by clients and prospects for future client generation. This time we will add two more business development openings.”WHAT'S NEW?”, when asked by a past contact or by a good client, opens the way to talk about: * A recent firm success * An highly regarded article written by a colleague * Or asking if they have heard about a new piece of legislation?The response should not be “the work keeps piling on,” or “same old same old.” You can't believe how many times I've heard these two. Use the question to subtly market. And for those of you who want to respond to the question by stating that your daughter recently won a gymnastics championship, do both. But do take advantage of this invisible opportunity to market the law firm.”WHAT DO CLIENTS REALLY WANT?” is the one key question to constantly ask yourself and your partners, when determining what to put into a proposal, how to organize a casual dinner conversayion or building on client retention. Another way to phrase it is “Why should I hire your firm?”Talk about strategies employed, case examples that worked, unique contributions to engagements. A recent BTI Consulting Group survey indicated that:* They do not want to know how many offices you have.* They do not want to know where you went to law school.* They do want you to know about them.
Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
The Self-Service Buyer Is On the Rise
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.