This may help you find more time for marketing (or anything else)

July 26, 2017 by
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Many consumer advocates recommend setting up different savings accounts for different purposes. One for an emergency fund, one for travel, one for retirement, one for investment, that sort of thing.

The idea is that separate accounts will keep you from spending too much on one thing to the detriment of others. It’s a variation on the separate “envelope budget” idea where people cash their paycheck and put the cash in different envelopes, to make sure they had enough for rent, groceries, and so on

Anyway, it’s not a bad idea, especially for those on a tight budget.

Well, guess what? We’re all on a tight budget when it comes to time. There are only so many hours in a week and if we “spend” too much time on some things, we might not have enough for others.

Therefore, if you ever say you don’t have time for something you know you should be doing, (like marketing), you might want to set up a “time budget”.

Some experts call it “time blocking”. Basically, you decide in advance how much time you’re going to spend on certain activities and you schedule that time on your calendar.

I’ve been advocating this for years. At the beginning of the month (or week), you block out 15 minutes each weekday at 3 PM (or whatever) for marketing. You then keep that “appointment” with yourself.

But hold on. If you find yourself looking at your calendar and seeing you have scheduled 15 minutes for marketing and you don’t know what to do with that time, you might not do anything. Soon, you start canceling those appointments.

You might want to modify your schedule using the household budget analogy and decide in advance what you will do during your appointments.

On Mondays, you might schedule 15 minutes for writing an email newsletter. Tuesdays might be for making phone calls to introduce yourself to other professionals in your niche. Wednesdays might be dedicated to working on your next report, book, or presentation.

You get the idea.

By setting up your “time budget” in advance–what you will do and when–you won’t have to think about what to do at the appointed time, you’ll just do it.

Especially recommended for those who say they don’t have time for marketing.

Leverage is the key to earning more and working less

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Filed Under: Productivity, Time Management

We’ve got trouble. Right here in River City

July 25, 2017 by
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According to the Wall Steet Journal, there’s a lot less suing going on these days. “Fewer than two in 1,000 people. . . filed tort lawsuits in 2015,” down significantly from 20 years ago.

Why? You know the drill: higher costs, caps on damages, changing jury sentiment against “frivolous” claims, carriers taking a hard line, and the list goes on.

Alternative legal services (paralegals, mediation document prep services, legal plans, etc.) and self-help measures are also thinning the herd. The latest? You can now use a chatbot to get answers to a variety of legal questions and help (advice, sample letters) in fighting parking tickets.

On top of this, more firms offer “low cost” legal services, educating the public to not pay “retail”.

Should we panic? Yes. If panicking is what you need to do to wake up and smell the coffee. Otherwise, no. There may be less business overall, but there is (and always will be) more than enough for you.

But you may need to make some changes. It’s not your father’s profession anymore.

  • Consider changing practice areas. If you handle tort litigation, consider refocusing on business litigation. Or at least adding this to your menu of services. Also consider “emerging” practice areas like “Drone Law”. (I mentioned this the other day, not realizing it’s not “coming” it’s already here, according to the email I got later in the day offering a CLE class on the subject.)
  • Don’t expand your practice areas in order to compete with multi-practice-area firms, in fact, don’t compete at all. Specialize. Be the best you can be in fewer practice areas. Clients prefer specialists, remember?
  • Target the high end of the market and charge higher fees to clients who are willing and able to pay them. Of course you’ll also need to up your game and offer more value and premium services.
  • Target niche markets and dominate them. Become the best known and most highly regarded lawyer or firm in smaller markets. Leverage word of mouth and “influencer” marketing and take the lion’s share of the business.
  • Make marketing an even bigger priority. Pick a handful of strategies and get good at them.

On the latter point, you’re in luck. Many lawyers still don’t get it. Some don’t believe they need to do any marketing at all. You should find them easy to beat. But don’t get complacent. There’s a new crop of young attorneys coming up who do understand the need for and power of marketing, and they’re eager to take business from you.

But don’t get complacent. There’s a new crop of young attorneys coming up who do understand the need for marketing and they’re eager to take business from you.

So basically, do what you should have been doing all along. Narrow your focus, develop your skills, offer more value, and hustle.

There’s plenty of work out there. Go get it.

Good marketing comes down to getting good at the fundamentals

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Filed Under: Legal industry, Marketing legal services Tagged With: ,

Who says you have to charge all clients the same fees?

July 24, 2017 by
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I’ve had penthouse offices on Wilshire Blvd. in Beverly Hills. I’ve also had storefront offices in not-so-nice parts of town. I charged different fees at each office for the same services.

And why not? Why not charge more at the office with higher overhead and nicer furniture? Why not charge what the market will bear?

What about clients in the same office? Can you charge some clients more than others?

Of course.

If a client gives you a ton of work, why shouldn’t you give them a break? If you provide elite services to some clients who are willing to pay a higher fee, why shouldn’t you?

Insurance defense firms and firms that handle subrogation and collection charge less per matter because of the volume of business they get, less than they would charge if you walked in with a single case.

Living trust mills hire outside lawyers to do the legal work. The lawyers earn less per client than they charge their regular “retail” clients.

By the way, you could do something similar no matter what your practice area. Joint venture with an attorney in a lower-end part of town who doesn’t provide the services you do. He brings in the clients, you do the work, and maintain your other office where you charge higher fees.

(Verily, make sure your bar is okay with this, yada, yada.)

Anyway, people pay different fees for the same goods and services every day. Ever buy a hot dog at the ball park?

Clients will pay different fees, too, because they’re willing to pay for convenience or prestige, or because they like and trust you and don’t want to go anywhere else.

How could you charge more (or less) for your services?

More ideas for joint ventures with other lawyers

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Filed Under: Attorneys fees Tagged With:

Why you might want to take your grandma to lunch

July 21, 2017 by
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Let’s rap about this niche market thing I’m always talking about.

Suppose you’ve looked at a niche market but rejected it because it looks like it’s not lucrative. Let’s use the “senior” market as an example.

Most people consider the senior market to be “price sensitive,” given the preponderance of fixed incomes in that market. If you want to find the best deals on dinner, go where the seniors go. If you want to charge premium fees for your services, seniors aren’t the first demo you think of.

You might want to think again.

Not all seniors live on a fixed income. Many have investments and real property, some have retired from running businesses but still draw an income, some are still running their business, and some are quite wealthy.

These folks may identify as seniors but lack of money isn’t an issue.

Okay, what about a lack of need? Most seniors aren’t as active as they once were, most have already taken care of their estate planning needs, and many have long standing relationships with attorneys and don’t really need you.

Many, but not all.

What if you could identify well-off seniors with unmet legal needs? A niche market within a niche market.

You could own that market.

Seniors get divorced. They get into car accidents. They even commit crimes.

They have tax issues, real estate issues, investment issues, business issues. And more than a few have not yet taken care of their estate planning needs because, you know, 70 is the new 50.

And even if they don’t need you. . .they know a lot of people. They have a lifetime of contacts: family, former co-workers and employees, professionals they have hired, and centers of influence in your niche market and community.

They can send you referrals and they can introduce you to prospective clients and referral sources.

In other words, even if they don’t hire you, their contacts can be very profitable for you.

I’m not trying to get you to choose the (wealthy) senior market as a niche necessarily. I’m simply trying to get you to think outside the box about what makes a viable niche market.

Okay, that’s it for me. I’m off to an early lunch and some networking. I hear Denny’s has a great senior special.

Need help choosing a niche market? Here you go

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Filed Under: Marketing legal services Tagged With: ,

What’s wrong with this picture?

July 20, 2017 by
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Yesterday, my wife and I were speaking about some legal work we had done a few years ago. We had a question, the answer to which might lead to more work for our attorney. Unfortunately, we couldn’t remember his name.

We got lucky and found the old file and my wife called him.

He answered the phone himself. My wife explained the situation and asked the question. She said he didn’t remember us but he was very pleasant and helpful. He answered her question by telling her what we could do to handle our issue that would not entail additional legal work.

Nice.

Now, what’s wrong with this picture? What’s wrong is that we didn’t remember his name.

We didn’t remember because after he did the work for us, we never heard from him again.

Not a card, not an email, nothing.

If we hadn’t found the file, we might have called another attorney.

What if we did need additional legal work? What if we had a referral?

Some other attorney would get the work.

So, for the 298,304th time, do yourself a favor: stay in touch with your clients.

The simplest way to stay in touch is an email newsletter

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Filed Under: Client relations, Marketing legal services

I would if I could but I can’t so I won’t

July 19, 2017 by
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It looks like self-driving vehicles are here to stay. As this new industry grows, a lot of people will make a fortune.

Wouldn’t it be great to get some of that action?

Maybe you can.

Maybe you can target your legal services towards companies in the supply chain. Help them grow, comply with new regulations, protect their IP, make deals. Maybe you could focus on torts, representing manufacturers or consumers. Or maybe you can work the legislative side of things, representing associations, consumer groups, lobbyists, or municipalities.

How could you leverage your current skills, experience, and contacts to get a foot in this gigantic door? What new practice areas could you take on? What new skills could you learn?

Study the industry. Read everything. Become an expert on the legal issues. Go to industry events. Spend time with experts, entrepreneurs, consultants, and other professionals.

Ask lots of questions. Look for problems that need solving. Look at what others are doing and see if you can do the same.

If you find a way to participate, go for it. In two years or ten, you could be a major player in this new industry, or your research could lead you to other opportunities.

If you can’t see a way to leverage this trend–let it go.

You tried, it wasn’t there for you. Go find something else to get excited about. Maybe “drone law” is a thing.

Unless you can’t let it go.

If you are enamored with the self-driving wave, if you love reading about it and watching videos and talking to people, if you want to be the first kid on your block to drive, uh, own a self-driving vehicle, stick with it.

You may never find a way to marry your interest with your law practice but it’s nice to have a hobby that fulfills you. A happy hobbyist makes a happy lawyer.

At least that’s what I tell myself.

How to find and approach new referral sources

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Filed Under: Increase your income

Wanna know my secret?

July 18, 2017 by
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A subscriber sent an email recently, praising my newsletter. I share it with you because it reveals my “secret” for building readership, fans, and clients.

See if you can spot the secret:

—
David

Thank you for your newsletter.

Yours is one of the few newsletters that I read everyday!!!

It always adds value and it is not always hyping the latest greatest webinar or makes me watch a 5-minute video to find out if I am even interested (which means I usually DONT watch the video).

I like how you provide value in a time efficient manner but also include a link for more information.

To me, this positions you as a more credible expert who gets someone’s interest by providing value so the person wants to learn more.

If I have to jump through a lot of hoops (aka watch a bunch of LONG videos) then I will probably never do it.

By the way, I have bought several of your publications and books.

Have a great day!!
—

He also forwarded an email he got as an example of what he doesn’t like. It was a freak show of graphics, hype, and obnoxious calls to action. A melange of “yuck”. (It was also unclear what they were even selling).

If you compare that mess with my emails, you’ll know that my secret isn’t really a secret at all.

It’s not that my emails are plain text emails instead of a “pretty” HTML newsletter, although that’s part of it. It’s not that I’m not “in your face” with aggressive sales pitches and hype and zero value. It’s not that I just say what I want to say instead of forcing you to go watch videos.

It’s not any of those things, it’s all of them. And more.

It’s the subject matter of the emails. I share ideas that can help you increase your income, be more productive, and make your day a little less stressful and a little more fun.

It’s the stories I tell, often based on personal experience, which illustrate my points and provide a glimpse into me, the person, and not just me, the attorney.

It’s my informality and (lame) humor. You may not laugh but you won’t fall asleep.

It’s that I write “to” you, not “at” you. Just the two of us, having a chat.

And it’s the brevity of the messages. In a few minutes, you get a dose of something to think about or something to do. I give homework, but it’s not overwhelming.

The secret is that I write what I would want to read. And because I was in your shoes for many years, I know what you want to read.

So there you have it. Write to your clients and prospects what you would want to read. You know them, so give them what they want.

Keep it short. Keep it real. Keep it simple. And have some fun with it.

If you do, your clients will look forward to hearing from you, praise you, and buy everything you sell.

Here’s how to use email to build your practice

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Filed Under: Email, Newsletters

Tell ’em why if you want ’em to buy

July 17, 2017 by
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Years ago, I read Helter Skelter by Vincent Bugliosi, the lead prosecutor in the case against Charles Manson. Bugliosi presented the timeline and documented the evidence in the case in meticulous detail.

But he didn’t just describe the facts and the evidence. He explained why it mattered. He put everything together into a masterfully persuasive account, as though he was again presenting the case to the jury.

I remember thinking, “nobody who reads this would have any doubts about what happened, or the correctness of the verdicts”.

That’s what we expect of a prosecutor doing his job. It’s also what we expect lawyers to do when advising their clients.

When you tell your clients what you recommend, you must tell them why.

It may be obvious to you, but it isn’t necessarily obvious to the client. Even when it is, telling them the facts and arguments you considered helps them to see why they should follow your advice.

I’m sure you do this (most of the time). You’re not like my father who sometimes grew tired of my relentless “why” questions and said, “Because I said so!” (Wait, your dad did that too?)

Anyway, I’m sure you tell clients why they should follow your advice, but do you do that in your marketing?

I’ve seen too many ads, blog posts, articles, videos, emails, presentations, and so on, where the lawyer doesn’t tell people what to do (call, email, fill out a form, etc.), or if they do, they don’t tell them why.

Tell people why they should call, download your report, or subscribe to your newsletter. Tell them why they need a lawyer, why they should choose you, and why they shouldn’t wait.

If you want to get more clients, tell people what to do. And why.

Marketing is easier when you know the formula

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Filed Under: Copywriting, Marketing legal services

Prospecting for gold in your law practice

July 14, 2017 by
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When my daughter was in grade school I went with her on a field trip to Sacramento. One of the events on the agenda was panning for gold in a stream that once teamed with prospectors. They spent their days sifting through water, dirt, rocks, and sand. The more “non-gold” they got rid of, the more gold they found.

There’s a marketing lesson in this for lawyers.

If you want to find more “gold” (bigger cases, better clients), you need to get rid of as much non-gold as possible, as quickly as possible.

Why spend your time and resources courting clients who aren’t a good fit for you?

Other lawyers filter out cases and clients they don’t want after they talk to prospects. What if you filter them out before you talk to them?

When you create a profile of your ideal client, make a list of clients and cases that aren’t ideal. If you handle plaintiff’s personal injury cases, for example, your second list might include fender benders and soft tissue injuries.

Then, create a page on your website and describe the clients who aren’t a good fit for you.

You’ll stand out for being honest and transparent. You’ll build trust and create higher perceived value for being selective. You’ll attract better clients who see that unlike other lawyers, you don’t take anyone as a client.

Be honest about what you don’t want. You’ll get rid of more dirt and find more gold.

Need help figuring out who you do and don’t want as a client? Get this

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Filed Under: Marketing legal services, Online Marketing

Get bigger by thinking smaller

July 13, 2017 by
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Seth Godin just said what I’ve been telling you for a long time: niche it.

Actually, he put it this way:

“When you seek to engage with everyone, you rarely delight anyone. And if you’re not the irreplaceable, essential, one-of-a-kind changemaker, you never get a chance to engage with the market.

The solution is simple but counterintuitive: Stake out the smallest market you can imagine. The smallest market that can sustain you, the smallest market you can adequately serve.”

In other words, target small niche markets and own them.

Godin says that when you focus on “the minimum viable audience,” your message is more powerful and more effective, and as your influence in that market grows, word of mouth about you will spread throughout the market and into others.

In other words, you get bigger by thinking smaller.

Godin says that this is how big companies and brands got that way. “By focusing on just a few and ignoring the non-believers, the uninvolved and the average.”

Focus on your ideal clients and the influencers in your chosen niche markets. Get to know them. Serve them. Let them see your dedication to their market.

Forget about the rest. Let other lawyers fight over the rest, while you get the lion’s share of the best.

Want help choosing your target market? Here you go

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Filed Under: Marketing legal services Tagged With: , ,
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