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CLOSING THE DEAL
CLOSING THE DEALA very happy new year to you all. Legal marketing is going through its typical first of the year cycle where clients and prospects are playing the “budget” card. But the economy is not the only factor you should consider when converting an opportunity to close more business.Hesitation might also occur on behalf of in-house counsel or public agency executives due to the pressures of bureaucracy. Who else needs to approve the engagement? Will the person you are dealing with survive RIF's?Competitors are searching for ways to outmaneuver you. Traditional attorney marketing now requires innovation and extra effort. Client retention is even more critical to maintaining a pipeline.And reaching the market place is changing radically. Is your firm continuing to spend heavily on print and media advertising or using pop-up ads, landing page features, webinars, etc. to reach the same client base?Lastly, what are real “deadlines” for purchasing your services? Are they looser than ever, providing the client every possible out to delay or stall? Closing skills today must recognize: * Budget * Hesitation * Competition * Market * Deadlines.The new year and our new economic structure demands greater attention, application and time to win clients. Happy new year?
CLOSING THE DEALA very happy new year to you all. Legal marketing is going through its typical first of the year cycle where clients and prospects are playing the “budget” card. But the economy is not the only factor you should consider when converting an opportunity to close more business.Hesitation might also occur on behalf of in-house counsel or public agency executives due to the pressures of bureaucracy. Who else needs to approve the engagement? Will the person you are dealing with survive RIF's?Competitors are searching for ways to outmaneuver you. Traditional attorney marketing now requires innovation and extra effort. Client retention is even more critical to maintaining a pipeline.And reaching the market place is changing radically. Is your firm continuing to spend heavily on print and media advertising or using pop-up ads, landing page features, webinars, etc. to reach the same client base?Lastly, what are real “deadlines” for purchasing your services? Are they looser than ever, providing the client every possible out to delay or stall? Closing skills today must recognize: * Budget * Hesitation * Competition * Market * Deadlines.The new year and our new economic structure demands greater attention, application and time to win clients. Happy new year?
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.