Save 50%–but only for a few days, and then never again

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Yesterday, I wrote about the subject of scarcity and how you can use it in your marketing to get people off the fence. When something is in limited supply, or the clock is ticking and a deadline is approaching, a fear of loss kicks in and motivates action.

The ultimate in scarcity is “no longer available.” When you know that something you want (but have not yet purchased) is going away and may never come back, The Force compels you to reach for your credit card. Or something like that.

For many years, I sold a referral marketing course for attorneys. It was the first of its kind and I sold millions of dollars worth of that course, all over the world. I took it off the market a couple of years ago, intending to update and re-release it.

I still hear from attorneys who bought my course, way back in 1996. They want to know when I’m coming out with the new version. I also hear from attorneys who have heard about the course and want to know when they can order it.

The answer is, I don’t know. It’s a big project and I’m working on other things right now and my plate is full.

“Not available” is about as scarce as it gets. People want it but can’t have it. Value increases. Demand increases. The point is, if it was always available and you could order it at any time, that demand and that perceived value wouldn’t be the same.

That’s the rationale behind the “product launches” you see on the Internet. There’s a big run up to the launch and then the product is removed from the market. Once it’s gone, you can’t get it at any price. No surprise, they sell a lot more of the product during the launch period because people don’t want to miss out.

So. . . what if you announced to your clients that you from this point forward, you would only accept clients who are referred to you by other clients. What do you think would happen?

Yes, demand would go way up.

We see physicians do this. When you hear that a doctor is no longer accepting new patients, that’s the doctor you want, isn’t it?

“Who do I know who can get me in!”

Well, you may not be ready to announce something like this. But what you could do is announce that starting next month, you are strictly limiting the number of new clients you will accept.

You’re super busy and can’t give proper attention to everyone (or you want more time for your family) and so you have to be much more selective about who you accept as a client.

That’s something you should do, anyway. Continually upgrade your client base by eliminating (or not accepting) smaller clients and cases or the ones who give you the most trouble.

Announce it, promote it, and you should see demand for your services go up.

Something to think about.

Okay, announcement time.

Later this month, I’m changing over to a different shopping cart and payment system. In order to do this, I am taking two of my products off the market. I probably won’t re-release them, at least for the foreseeable future.

Anyway, before I remove them, I wanted to give you a chance to pick them up at a great price. So for the next few days, you can order either Cash Flow for Attorneys or The Quantum Leap Marketing System at 50% off the regular price.

Here are the details:

Cash Flow for Attorneys shows you how you can increase your cash flow in the coming year by re-structuring your fees, tightening up your billing and collections, and utilizing other strategies for bringing in more cash. Check it out at http://cashflowforattorneys.com

To get the 50% discount, click on the order button and enter the code <final> (no brackets) in the coupon box. Click to “validate” and you’ll see the price change below to reflect the discount.

The Quantum Leap Marketing System shows you how to quickly bring in a lot of new business. It’s over ten hours of videos and comes with some great bonuses. You can see what’s included at http://quantumleapmarketingsystem.com.

Important: When you get to the big box that says, “Add to Cart,” scroll down a bit and click on the link for “one payment”.

On the next page, (near the top), you’ll see a box that asks for a “Coupon”. Enter the code <final>  (no brackets) and click the link to validate the code. The price will change below to reflect a 50% discount.

After you order, you’ll receive a confirming email with download and/or access instructions. Please make sure to download everything as soon as possible. If you have any questions, please email info@attorneymarketing.com.

Please note, all sales are final–there will be no refunds accepted, so make sure this is something you want before you click the button.

You have the rest of the week to get these. And then. . .  they will be gone.

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How to use scarcity to get more clients and increase your income

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Scarcity creates value. When something is in short supply and people want it, its value increases. A soda may cost less than a dollar at any supermarket but that same soda costs $4 at the baseball game where there is no competition.

If you are the only attorney in town, the value of what you do increases. When a client needs you, they will pay a premium price for your help. On the other hand, if there are lots of attorneys in your market who do what you do and a client can choose any of you, the value of what you offer goes down.

This is why you must show prospective clients that you aren’t like other attorneys. You must show them that you are different in a way that is important and valuable to them.

If you specialize in personal injury cases for clients who ride motorcycles, for example, and ride one yourself, your superior knowledge and commitment to that niche market gives prospective clients a clear reason for choosing you instead of other attorneys.

You can learn more about showing people why they should choose you instead of other attorneys you in The Attorney Marketing Formula. Right now, I want to talk to you about another form of scarcity you can use in your marketing: “limited availability”.

You know that people want what they can’t have, right? When you put a time limit or a quantity limit on something you are offering, (assuming it is something people want), it tends to increase demand.

Why?

The first reason is “fear of loss”. They don’t want to miss out. Limited availability suggests that other people are getting something that could be theirs, thus, they are losing something they already “own,” i.e., whatever you are offering. Fear of loss is one of the most powerful motivations there is.

The other reason is “social proof”. As people see others buying what you are offering, it strengthens the perceived value of your offer. It’s like when you see a long line waiting to get into a restaurant. It tells you the food must be good.

You can use limited availability to get more people to sign up for your webinar or other event by letting them know there is limited seating or phone lines. If they wait too long, they might not get in.

You can use the same idea with impending fee increases. “Book your appointment now and lock in our current rates before they go up on the first of the month”.

Anything with a deadline invokes scarcity. If you ever use special offers–discounts, bonuses, freebies–a time limit on the offer (e.g., “This week only”) will almost always increase response.

I do this when I release a new product or service. I offer a discount to early bird purchasers and put a strict time limit on that discount. Wait too long and you miss it. I do the same thing when I hold a sale. The time limit forces people who might otherwise procrastinate to make a decision that allows them to get something they want.

Limited availability also applies to you and your time. If you are always available, you appear less valuable. If you answer your own phone, for example, it suggests that you are not “in demand” by others. Better to have someone else answer your phone and grant limited access to you and your valuable time.

The same goes for setting appointments. You don’t want clients to think you aren’t busy and that they can see you at almost any time. Put them off for a day or three or give them a short window of availability (i.e., “The only time available is Tuesday between 4 and 4:30 and Thursday at 2”.)

Put limits on what you offer, including your time. Especially your time. You’ll get more people waiting in line to get it.

Learn how to get prospective clients to choose you instead of other attorneys. Click here.

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10 signs you are a successful lawyer (marketing edition)

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How do you know you are a successful lawyer? Some measure success in terms of money. Others use milestones like number of clients, courtroom win/loss ratio, or receiving a prestigious award. I knew I was successful when clients sent me thank you notes and gave me hugs.

Today, I want to give you 10 signs of success from a marketing point of view. I got the idea by reading a similar article for small business owners.

  1. Clients send you referrals. The sine qua non of success. Nothing says you are doing things right better than getting most of your clients via referrals from happy clients.
  2. Other lawyers send you referrals. Successful lawyers get referrals from lawyers in other practice areas. The best lawyers get referrals from lawyers in the same practice area.
  3. Non-lawyers send you referrals. Influential people in your community or niche market should have you on their radar and be sending you business.
  4. Clients find you (via search, social, publicity, articles, etc.) You should be getting clients who find your web site through various means and are impressed with your knowledge and experience. The web site should sell them on hiring you or taking the next step.
  5. The media seeks you out (interviews, quotes, profiles). This usually occurs because of a prominent case or client or because a writer or publisher finds your web site and is convinced you are THE subject matter expert for the story they are working on.
  6. You have a list and you stay in touch. Most people who find you don’t hire you immediately. You need to collect their contact information and stay in touch with them. You also need to stay in touch with your clients because they are your best source of new business.
  7. You use strategic marketing alliances. Your client list is paramount. Next best are the client lists of other professionals and business owners. By leveraging the trust they have with their lists, you get exposed to, and endorsed by, those professionals, which should bring you a steady stream of pre-sold prospective clients.
  8. You fire clients. Successful marketing means you have the ability to continually upgrade your client list. You make room for better clients by purging the lowest segments of your client list (lowest paying, least amount of work, slow paying, complainers, etc.)
  9. A publisher asks you to write a book. If your web site (podcast, video channel), has lots of good content, and it looks like you have a good following, a publisher may contact you to see if you want to write a book. They know that book has a built in audience of potential buyers.
  10. Other lawyers ask how you do it. If you are successful in bringing in lots of good clients, other lawyers will ask you to share your secrets.

So, how did you score? Do you some opportunities for improvement?

You may be a good lawyer but are you good at marketing? Here’s what to do.

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Increase your income: offer a premium version of your legal services

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A simple way to increase your income without increasing your fees is to offer a premium version of your legal services.

If your basic service is $2500, you might offer a deluxe package for $2950 which allows clients to get additional services they will probably need down the line. They can get everything taken care of all at once and save a few bucks.

What options, extras, or “nice to have” additional services could you offer to new clients? The best time to present these extras is at the initial engagement when they are in a buying mood. They see that it’s “only a few hundred dollars more” and it’s an easier decision than if you went back to them later.

Having a deluxe version also allows you to offer prospective clients a choice between the two versions, which is better than offering them a choice between hiring you or not. No matter which version they choose, you have a new client.

You can create a deluxe version of your services by adding something to what you ordinarily do. Or, you can leave out something you ordinarily do and call that your basic package. So, if you ordinarily do A, B, C, and D, your basic package would now be A, B, and C and your deluxe package would include everything.

You could also create a deluxe package by including services from another lawyer. For example, your basic version may be a business start up package and your deluxe package might include an employee manual produced by an employment lawyer. If you are an estate planning lawyer, your deluxe package might include a mini-plan from a financial planner you work with.

A deluxe package doesn’t necessarily have to include additional services, however. It might be a higher level of service–quicker turnaround or priority handling, for example.

Offering a premium version of your services is a simple way to increase your income. Even if only a small percentage of clients opt for it, you come out ahead.

The Attorney Marketing Formula: The 6 Keys to Higher Income. Click here to learn more.

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How to find ideas for blog posts

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If you would like to know how to find ideas for blog posts, I’ve got an easy one for you.

Go to Google and type in a question related to your legal services. Before you complete the sentence, Google’s autocomplete mechanism (assuming you have it enabled) will provide you with a list of possible searches based on what you have written so far.

I did just that by entering in, “What is the difference between a will” and as you can see in the graphic below, Google gave me several options for completing my search request, to wit, “What is the difference between a will and a trust,” “What is the difference between a will and a living will,” “What is the difference between a will and estate planning,” and so on, based on what other people have searched for in the past.

How to find ideas for blog posts

Armed with this information, you can write a blog post that answers the very questions your prospective clients are searching for. Use one of these search phrases as the title of your article and you will increase your chances of being found in subsequent searches.

You can use the other search queries as key word phrases in your post, or write other articles with these titles.

This can help you find “long tail” search terms, meaning longer, more specific search phrases you can use instead of the more common, shorter and highly competitive phrases.

For example, you would have a hard time getting found by targeting the search term, “slip and fall.” There are too many lawyers competing for that phrase, in both generic search and in Adwords. But type in “slip and fall” into Google and you will find another suggestion: “slip and fall statute of limitations california”. Make that the title of your article (or bid on this term in Adwords) and you should have very little competition.

I used Google to generate the title of this post. I typed in, “How to find ideas for” and it suggested, “How to find ideas for blog posts,” and not “newsletter,” “ezine,” or “articles.”

Prospective clients are looking for information. Now you know an easy way to find out what they want to know so you can give it to them.

The law is complicated. Marketing is simple.

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Pros and cons of starting a law practice

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I was reading some statistics about the failure rate of small businesses. The numbers are brutal. 50% fail in their first year. 95% are out of business within five years.

It got me thinking about the survival rate for a new law practice. I don’t know what the actual numbers are but it wouldn’t surprise me if you told me that 95% are still going after five years.

Then I got to thinking about why. What is it about the business model of a small law practice that allows for such a high survival rate compared to other small businesses?

If you’re thinking about starting a law practice, here are the pros and cons I came up with:

THE PROS

  • Lower start up costs. You have rent deposits, furniture and computers (which can be financed), but no inventory or expensive equipment, and you can start without any employees.
  • Lower overhead. Your biggest fixed costs are rent and insurance. As you grow, you can hire employees or outsource, unlike a restaurant which cannot operate without employees.
  • Lower marketing costs. You need a web site. You can bring in business by networking. You don’t need to advertise.
  • Higher margins. You don’t sell a $10 product, you sell a $5,000 product. You can break even with just one or two new clients a month.
  • Steady work (business clients). Business clients tend to have ongoing legal needs. (But see below.)

THE CONS

  • Limited time. There are only so many hours in a day available for you to produce work product. If you have employees, you must supervise them. You have to reach a certain size before you can justify hiring staff to manage staff.
  • Limited growth options. You can’t franchise. You can’t take on investors. Bank financing is more difficult without inventory or other assets as collateral. If you want to open additional offices, you must be willing to stretch your time even thinner.
  • Competition. There are more lawyers today and fewer clients (with money). You also have competition with legal form companies, paralegals, and legal plan companies.
  • Feast or famine. Business clients go out of business and take their legal work with them. Consumer clients hire you once and often never again.
  • Limited retirement options. It’s difficult to sell a law practice for a decent multiple. You usually have to carry a note and depend on the buyer’s ability to pay (and many of your clients won’t stay with the buyer).

So, what do you think? Did I miss any? Does it look like a law practice is a sound business model? Please share your thoughts in the comments.

Learn how to earn more than you ever thought possible in your law practice. Click here.

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Are you playing it safe in marketing your legal services?

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You don’t play it safe when you advocate for your clients. So why do you play it safe when you advocate for yourself?

In marketing, you must stand out. To stand out, you can’t play it safe, you have to be different.

Have you ever noticed how most attorney’s web sites look the same? Change the name and the photo and another attorney in the same practice area could take over the site without missing a beat.

How do you expect clients to notice you when you look like everyone else? Why should anyone choose you when you don’t show them how you are different?

Being different starts with including some personal information in your marketing. Share some of the things that define you as a person–your family, your hobbies, your crusades. Give the world a glimpse into the human being behind the professional.

Being different also means saying things most attorneys don’t say. Examples? Revealing how most law schools don’t prepare lawyers for the courtroom. Or how lawyers pad their bills. Or lawyer discipline. Or what to ask a lawyer to see if they are competent.

If you’ve never spoken about these things, you should. Your colleagues may not like it, but your clients will.

You can also be different by sharing your opinion on something controversial. Most attorneys straddle the middle of the road. If there’s something you believe strongly in, you should take sides and open your mouth.

Look at Donald Trump. He’s never afraid to say what he thinks. Did he earn a fortune because of this or in spite of it? I don’t know. But I do know that whenever he opens his mouth, he makes money.

The same goes for Ted Turner. And Rush Limbaugh. The more you hate them or laugh at them, the more they earn.

I’m not saying you need to go to these extremes. But you do need to take some chances.

Here’s the challenge: On your web site, or in your newsletter, say something you know will not sit well with someone. Nothing radical. Don’t start a fight. Just say something a little different or a little out of character.

Make a few eyebrows rise. Show people a side of you they’ve never seen.

It might not be what you say but how you say it. A coarse reference, perhaps. Or gansta slang, yo.

Click the send button. If your heart beats a little faster and you wonder if you’ve made a mistake, you know you’re doing it right.

You’ll find it liberating. Maybe even exhilarating. Possibly terrifying.

You might hear from someone who likes what you said. That’s good. You might hear from someone who doesn’t like it. That’s good too.

Communication isn’t solely about delivering information. It’s about touching people on an emotional level. Making them listen. And think. And feel. And respond.

If you get no response, the odds are nobody noticed. Try again. Push harder. Keep stirring.

Eventually, you may lose some people who don’t like what you say. That’s the risk. The reward is that there will many more who take their place, who love you and want to work with you and tell all their friends about you, in great part because you aren’t like everyone else.

If you want mediocre results, keep doing what everyone else is doing. If you want superlative results, you’ve got to take some chances.

Want more ways to be different? They’re in The Formula.

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Stop complaining. Attorney marketing is not that difficult.

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Bitch, bitch, bitch. Enough already. You don’t know how good you have it.

I’m talking to the attorneys who whine about how hard it is to get clients but aren’t willing to do anything about it.

It’s not laziness. It’s ego. They’re too school for cool. They say marketing makes them uncomfortable.

You want more clients and you expect them to magically appear because you’re good at what you do?

Wake up and smell the empty bank account.

Being competent and working hard for your clients isn’t enough. Most attorneys are competent and work hard for their clients. If you want more clients to find you and hire you, you have to do more.

And it really isn’t difficult.

I’ll tell you what, I’m going to give you a list of things to do to bring in more clients. It’s a short list. Take a look and see what you think:

  1. You need to smother your clients with love and attention so they never even think about leaving and so they tell all their friends about your greatness.
  2. You need a web site with lots of high quality information, so people can find you through search and through sharing of your information, see proof of your capabilities, and sell themselves on hiring you.
  3. You need to stay in touch with the people who hired you before, reminding them that you are still available to help them and the people they know. And you need to stay in touch with people who don’t hire you right away so that when they are ready to hire an attorney, or they know someone who is, you are the one they call.

This isn’t hard, is it?

Love your clients. Educate prospects. Stay in touch with everyone.

Do these three things and you don’t have to do much else.

Now, ask yourself these questions:

  1. Is this something I CAN do?
  2. Is this something I have the TIME to do?
  3. Is this something I WANT to do?

I know you can do this. And it doesn’t take up that much time. The real question is, do you want to do this?

If you do, great! Let me know how I can help.

If you don’t, that’s okay, but please don’t complain. It makes me uncomfortable.

Marketing really isn’t difficult. Let me show you. Click here.

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What separates the million dollar attorneys from the rest?

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Why are some attorneys earning seven figures and others are just scraping by?

Are they smarter and harder working than the rest? Do they have better connections? Are they just lucky?

I’ll bet you think I’m going to say million dollar attorneys are better at marketing and promoting themselves than average earning attorneys.

But that’s not always true.

Sometimes, they really are just lucky. Or smarter. They often do have better connections.

Sometimes, those million dollar babies are more attractive. Better looking, whiter teeth, the whole shebang. Sometimes, they’re more attractive on the inside. People want to be around them, hire them, help them.

And sometimes, they’re crooked. They lie, cheat, and steal their way to the top. And then they go into politics.

Anyway, some attorneys earn big money and don’t know the first thing about marketing. They never needed to and they never will.

God bless ’em.

Now, what about the rest of us?

Most attorneys work hard and do good work for their clients. But that’s not enough to build a big practice anymore. It’s too unpredictable, and too slow. We can’t wait for things to happen, we have to make them happen.

Yep. Marketing. Getting our story told to more people. Sharing information with prospective clients so they know about the law and their options and can make better decisions. And treating people right so they want to hire us again and tell everyone they know about our greatness.

Marketing isn’t easy. You have to work at it every day. Not all day, but every day. Talk to someone. Write something. Read something. Do something.

Yeah, I’d rather be lucky. And better looking.

Maybe in my next life.

Marketing isn’t easy, but it is simple. Follow these instructions.

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Who is your favorite client?

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In a previous post, I talked about how to get more clients like your best clients. I was referring to the class of clients who provide you with the most work, the most referrals, and the least amount of trouble.

Today, I want you to think about your favorite client.

Not your biggest or best client, necessarily, or the one who sends you the most referrals. I’m talking about the client you most like being around.

Identify them by name. Picture them. Think about them.

Why are they your favorite?

Is it their personality? Are they easy going? Do they make you laugh?

Knowing why someone is your favorite client will help you more easily spot people like them, if not actually attract them.

Do you remember where you met them? Networking? Who introduced you? Through an ad? In what publication? A referral? From whom?

If you were introduced to your favorite client through another client, for example, maybe you should be paying more attention to that mutual client. If you met them at a Rotary event, maybe you should spend more time at Rotary events.

But this exercise isn’t just about finding more clients like your favorite clients. It’s not just about marketing. It’s about appreciation. Counting your blessings. Feeling good about yourself.

You see, you would not have a favorite client if you didn’t attract them into your life. And you wouldn’t attract them if you didn’t have some of the same qualities that you admire in them.

Like attracts like. The things you appreciate about other people are things you appreciate about yourself.

So, here’s what I want you to do. I want you to call your favorite client and say, “I just want you to know that you are my favorite client.” Tell them what you like and appreciate about them. Go put a smile on the face of your favorite client.

And then give yourself a pat on your back for being so damn attractive.

Marketing is everything we do to get and keep good clients. Here’s where to start.

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