Law Firm Marketing – Growing fees in a small legal practice
If the flow of new matters is slower than you would like, then you have probably been thinking about the your law firm marketing.
When I do searches around the internet looking at law marketing firms, there are many discussions about improving your website, search engine optimisation, social media and so on.
While all of these are great strategies, they will all generally involve spending lots of your money. Money that you may be a bit short of, if work is slow.
I’ll bet though, that were I to ask you where your work comes from, your answer would be, that most of your work comes from either:
- Your existing clients
- Word of mouth referrals from those clients
- Referrals from other referrers that you have developed a relationship with.
So, if that is where most of your work comes from now, surely your first marketing strategy should be to look at how you can improve this flow of new work.
The beauty of these sources of work is that to market to them is incredibly inexpensive.
You know who they are, you have their address and probably their email address and most importantly, they already know, like and trust you.
You may have heard an often quoted phrase that it is “Up to six times cheaper to generate more work from an existing client than it is to get a new client”. One of the key reasons for this is that it is so incredibly inexpensive to market yourself to someone you already know.
Of course I am not saying that you shouldn’t optimise your web site or get involved in social media and the like.
What I am saying is that many practices overlook the easiest source of new work.
You may well find that once you get better at generating more work from your existing clients, improving the number of referrals you get from your existing clients and your other referrers, you may not need to do much more marketing to meet your practice growth goals.
ACTION STEPS – Law Firm Marketing Strategy
If you think your practice should be more profitable, then here are two easy steps to make it that way:
1) If you haven’t watched our FREE webinar “Why accountants make money and lawyers don’t …and what you can do about it”, which includes a copy of our FREE bonus report “2011 Small Legal Practices Survey Report”, then register today to get the link. Click here
2) If you have already watched this webinar and read the FREE survey report and you are ready to create more work for your practice, our new program called Retain, Engage & Profit will be for you.
This program has been developed for small law firms that want to grow their practice in an incredibly cost effective way.
We know you don’t have unlimited funds like the big firms to spend on this, so it has work for you. We understand that and offer a money back guarantee if you don’t achieve a 17X return on your investment in the program in the first year.
The first program is full but the next intake will be in the next few weeks, so check the blog and we will let you know or let me know if you would like more information.
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