Blog – Page 239

Another “fee raising” success story

July 24, 2015 by David M. Ward

I spoke to another attorney yesterday who told me that, at my urging, he increased his fees approximately 40% and has received no resistance. His fees were low to begin with, he said, but this has emboldened him to increase his fees even further.

He said the top of the market is still 70% higher than his new fee, and we talked about what he would need to do to justify another increase.

You don’t have to be the top of the market, I told him, but you should at least be in the top one-third to 20%.

But don’t be so quick to dismisss “top of the market” fees. Why couldn’t you be the most expensive guy in town?

You could. The question is how.

Much of marketing is about perception. To some extent, you’re worth more because you say you are. Who’s to say any different?

Your lower-priced competitors, you say? See, that’s where you’re missing the boat. There is no competition at the top of the market. It’s at the lower 80% of the market where everyone does pretty much the same thing and competes on price and good looks.

If you’re mucking about in steerage, you’ll never maximize your potential.

But there is a limit to how much more you can charge simply because you want to charge more.Â You’ve got to find something you do better or different than other lawyers, and make that a point of differentiation.

One way to do that is to specialize not only in the services you offer but the clients for whom you perform those services. Choose a niche market to target, focus on it, and groom yourself to become the “go to” lawyer in that niche.

There are big advantages to this strategy. Besides being able to charge higher fees, marketing is easier and more effective. Instead of networking with or advertising to “anyone” who might need your services or be able to refer clients, for example, you can concentrate your efforts on marketing exclusively to prospective clients and referral sources in your niche market.

That’s what this attorney said he will do.

He’ll save time, spend less on advertising (if not eliminate it completely), and develop a name for himself in his niche.

Word of mouth travels fast in niche markets. By next year at this time, I wouldn’t be surprised to learn that he has indeed become the “go to” lawyer in his market.

Learn more about niche marketing, with this

Filed Under: Attorneys fees, Image, Increase your income, Marketing legal services, Marketing Plan, Networking, Specializing Tagged With: Niche marketing, target marketing

One step forward, two-steps back?

July 23, 2015 by David M. Ward

A tax resolution firm is running a radio ad featuring one of their satisfied clients. He says he hadn’t filed a return since 1990 and the IRS had finally caught up with him and demanded $68,000 in back taxes.

I don’t know how he could ONLY owe $68,000 after 25 years, but that’s his story. He couldn’t pay it and didn’t know what to do.

Enter the tax firm.

They did what they do, and helped him eliminate most of his indebtedness.

Here’s the problem.

As he tells his story, he laughs gleefully at his good fortune. Twice. Like he got away with something. His story, and especially his attitude, suggest to listeners that we’re all suckers for paying our taxes.

I can imagine prospective customers listening to this spot and intentionally calling another firm because it looks like this firm isn’t helping good people who fell on hard times, it’s helping irresponsible people get away with irresponsible behavior.

That’s the sub-text.

They could have conveyed the message thatÂ they know what they’re doing and can help you with IRS problems, without the negative sub-text, had they portrayed the client as “relieved” and “thankful” instead of flippant and irresponsible.

They shouldn’t have mentioned 25 years of unfiled returns, just that he’d fallen behind and couldn’t pay $68,000 the IRS said he owed. And they shouldn’t have had him laugh. Twice.

Obviously, the ad is working because the firm keeps running it. But how much better might it work if they madeÂ the client more sympathetic?

Filed Under: Advertising, Communication, Copywriting, Image

Watch me pull a rabbit out of my hat

July 22, 2015 by David M. Ward

I’m going to write a blog post today and show you my process. I want you to see how simple it is, and how quickly it can be done.

While I was out shopping with my wife yesterday, I thought about two of our neighbors who have just repainted their houses and wondered how they chose their painters. I remembered how we chose our painter, Mr. Kim, the last time we repainted, and wrote down the topic for today, in Evernote. This morning, on my walk, I came up with the Bullwinkle-inspired title for this post.

When I got to my desk, I wrote down the topic, and set a timer for five minutes. I started the timer and wrote, without stopping. When the timer sounded, I had written 253 words for the first draft.

I set aside the first draft for a few minutes, came back and wrote what you’re reading now. I spent a few more minutes editing the first draft. The final version of the post, not including what you’re reading now, is 340 words.

This post isn’t brilliant. I made a good point, and made it interesting, I think, by referencing a personal anecdote.

Total writing time today, approximately 15 minutes. And I’m done for the day.

So, here’s the post:

====
WATCH ME PULL A RABBIT OUT OF MY HAT

Two of my neighbors just repainted their houses. As I watched the painters working, I thought about the last time we repainted and how Mr. Kim and his brother did such a good job for us. He put on two coats, and this has lasted a good ten years or more. I’m not sure, but I wouldn’t be surprised to find that our neighbors had one coat done and will have to repaint again in a few years.

The Kim brothers were very thorough, clean as a whistle, and very low priced. When we paint again, we’ll use them again.

I found the Kim brothers through my former secretary. Her husband is a meticulous shopper, very detailed oriented, and drives a hard bargain. He was a banker for most of his career, so I guess this isn’t surprising. He did a lot of research before hiring the Kim brothers and told us how happy he was with them. Good enough for me.

Friends ask friends for referrals. Especially with expensive purchases. We depend on referrals because they save us time and money and help us avoid the risk of making a bad choice. This is true for finding a contractor, or a lawyer.

I thought, what if I had been referred to the Kim brothers not by my secretary’s husband but by a lawyer I had hired. I’d be grateful to that lawyer for his help and I would assume he could help me with other referrals, to other contractors, businesses, and professionals. I’d go back to him when I needed aÂ referral, and when I needed a lawyer again, he’s the one I would call. Â I’m sure I would refer clients to him, too.

The point is, every lawyer should make a point of being a resource for their clients and prospects. They should go out of their way to seek out high quality businesses and professionals and recommend them. Their clients will be happy, hire them again when they need them, and send them referrals. So will the businesses and professionals he or she recommends.

Want more referrals? Go find a good painter you can refer.

Filed Under: Blogging, Newsletters, Referral sources, Referrals, Writing

How to increase your income ten-fold

July 21, 2015 by David M. Ward

What would I have to do to increase my income ten-fold?Â That’s aÂ question you should ask yourself periodically.

Yesterday, I did a consultation with an immigration lawyer and asked him a similar question. We were talking about his fees and I said, “With your experience and reputation, you could probably triple your fees, right now, and get it, no questions asked. Who’s to say you’re not worth three times what you now charge? What you need to do is figure out how you could increase your fees ten-fold. What would you have to do? How would you have to package your services in order to get that?”

Because he could. Because you can, too. The challenge is to figure out how.

Okay, too much to ask? I’ll ask a different question that might make you more comfortable. “What would you have to do to increase your income ten-fold in the next year?” The answer would entail a combination of increasing fees and getting more clients, yes?

Good stuff.

I heard an interview with an author recently who said his goal was to increase his income ten-fold within the next year. His plan calls for a combination of writing more books and selling more of them (marketing).

Will he reach his goal? I don’t know. But I do know that as a result of thinking this way, he’s bound to increase his income, undoubtedly much more than he would if he didn’t ask “how”.

Ten fold is big. But not impossible. You have to ask questions like this. It’s no fun to ask, “How could I increase my income five percent?” Snore.

So, what would you have to do to increase your income ten-fold? What new services would you offer? What new (higher-priced) markets would you target? What would you have to do to increase your fees? What would you have to do to get more traffic to your website, viewers of your ads, or attendees at your seminars? What would you do to get more referrals?

Think. And maybe you’ll grow rich.

How to increase your income ten-fold: GoÂ here

Filed Under: Attorneys fees, Goal Setting, Increase your income, Inspiration, Law office management, Marketing legal services

What to write when you don’t know what to write

July 20, 2015 by David M. Ward

“I don’t know what to write.” “I’ve said it all before.” “What I have to say is boring to most people.” “I’m not a good writer.”

This is what many lawyers tell themselves. These are the reasons they offer for not writing to their clients and prospects.

No articles, no blog, no emails. Or very few and far between.

Have you avoided setting up a newsletter or blog because you don’t think you have anything to say? I’m talking to you.

Yes, time is a factor. But you’re smart enough to know that it’s worth finding 30 minutes a week if it means bringing in several new clients per month.

No, if you’re not writing, it’s probably because you don’t think you have anything to say.

You know what? You might be right. You may not know what to say and you may not be a good writer. But it doesn’t matter. If you don’t know what to write, write anything.

You don’t have to be brilliant. You can write something that’s “just okay”.

Why? Because building a digital relationship with your clients and prospects isn’t about information or elegance, it’s about engagement.

It’s not what you say or how you say it that’s paramount. It’s that you said something.

You showed up in their life again, reminding them that you’re still practicing and still interested in knowing them. You shared an idea or observation, or shared something about your practice or your personal life. You asked for their feedback, and asked them to tell you how they are doing.

You don’t need to be brilliant, or even good. You just need to show up regularly and say hello.

Tell them something you did this week, or something you thought. Tell them about a website or book you recommend. Tell them about an interesting case or client you have, or one that another lawyer told you about.

A few paragraphs, once a week, is enough to maintain your relationship.

But here’s what happens.

You keep doing it and your writing gets better. And faster.

You find more interesting things to say, and better ways to say them. You start to enjoy writing, and you look forward to it, especially when you see how it is helping your practice grow.

You don’t have to be good to start, but you have to start to be good.

Here’s what you need to start your newsletter or blog

Filed Under: Blogging, Marketing legal services, Newsletters, Writing

The thrill is gone? Here’s how to get it back

July 17, 2015 by David M. Ward

The thrill is gone. You’ve lost the spark you had when you started practicing. You’re spinning your wheels and getting nowhere fast.

You’re doing okay, but you want to move on up, to an east side apartment in the sky.

Or maybe things aren’t so good. You’re struggling and falling behind.

What can you do? How do you get things moving?

You need to start over. Go back to the beginning and be “new” again.Â Forget what you have and what you know and begin from square one.

Before you can construct, you have to destruct.

I know, starting overÂ might hold some bad memories for you. It does for me.Â I was scared to death. Everything was riding on my making a go of things and I didn’t have a clue about what to do.

But I was excited. The world was mine for the taking. Anything was possible.

And I was hungry. Determined. Open to anything. I had nothing, so I had nothing to lose.

You too? Good. Go back to those days in your mind. Be hungry again. Be open again. Be excited again.

Pretend you have nothing. No clients, no lists, no website, no ads. Chuck it all and start from scratch. You’ll add them back one at a time. Or maybe you won’t.

Yes, but what do you do?Â That’s not really important. If your head is on right and you are truly reborn, you’ll figure it out.

You’ll try lots of things, with no expectations. Some will work, most won’t. You want this thing to work and you’ll do whatever it takes to make that happen.

Get out a legal pad and a pen. Time to start building. Start by taking inventory.

Who do you know? Write down the names of people whoÂ might be able to help you. Clients, prospects, referral sources, other lawyers who can give you advice, friends and family who can support your dreams.

What do you know? What are you good at? What are your skills (legal, marketing, management, leadership, speaking, writing, etc.)

What do you want? Write down one or two goals for the month. Forget next month for now; you’ve got a rent payment coming due.

Are you excited yet? Scared? Itching to do something?Â Good. Pick up the phone and call someone on your list.

Call a friend and tell him you’re re-launching your practice today and just wanted to share the good news.

Call a lawyer and tell herÂ you’d like to meet for coffee and talk about how you can work together.

Call a former client and see how they’re doing. They might need you for something, or know someone they can refer.

Call a current client and tell them how much you appreciate them.

Spend the rest of the day talking to people. Tonight, write down some marketing ideas. Tomorrow, get up early and do it again.

Need a marketing plan? Get this

Filed Under: Increase your income, Inspiration, Marketing legal services, Marketing Plan, success

One two three, one two three, drink

July 16, 2015 by David M. Ward

How’s biz? Yes, I know, it’s great. But really, how are you doing this month compared to last month or last year?

You need to know.

You’ve got to track your progress. Otherwise, you won’t know if what you’re doing is working.

How many new clients did you sign up this week or this month? Write that down.

How much revenue came into your coffers? You should probably make a note.

How many leads/inquires/prospects do you have in your pipeline? You’ll want that number going up.

Look at your calendar. How many appointments do you have this week? How many of those are with prospective clients?

How many subscribers signed up for your newsletter this month?

You’re running a business. You’ve got to know your numbers. You don’t need to obsess over them, but you should at least know what they are.

Your numbers tell you if what you’re growing. Because if you’re not growing, you’re dying.

But these aren’t the only ones you need to track.

Revenue, new clients, and the like, are all “history”. They are the results of things you did in the past. They tell you what happened, not what will happen.

You need to track your activities as well as as your results.

What did you do this week that might bring you some business?

Whatever else you do that for marketing,Â I suggest you start tracking these two activities:

1) Calls

How many outgoing calls did you make–to prospects, referral sources, prospective networking partners, former clients, etc.

2) Words

How many words did you write for marketing purposes, for your blog, website, articles/guest posts, books, presentations, letters/emails, social media content, etc.

Are these numbers growing? Holding steady? Declining? You need to know.

Results are the destination. Activities are how you get there.

Grow your practice withÂ The Formula

Filed Under: Law office management, Marketing legal services, Marketing Plan

Laugh and the whole world laughs with you. . . unless you’re a lawyer

July 15, 2015 by David M. Ward

I used to have an employee who laughed after nearly everything he said. He might have asked me something completely innocuous like, “Should we open a file?” and follow that with an awkward smile and a pinched little laugh.

He was incredibly lacking in self-confidence and this was his way of coping with life.

He could get away with it with clients and others who didn’t listen to him all day long. I tuned it out, mostly, but I have to admit it bothered me. Sometimes, I would ask, “Why are you laughing?” or “Why is that funny?” Yes, I was a prick. And no, it didn’t help.

Maybe you’ve had someone like this work for you. Or maybe you’ve had an office clown. You know, the ones who are always telling jokes and making comments that aren’t in the least funny. And yet they persist, because they think they are God’s gift to humor.

Even if they are funny, too much yucking it up in a law office isn’t a good thing. A little humor is great for lightening the mood. And laughter is contagious. One or two people start laughing, it won’t be long before the entire office is enjoying themselves.

Just make sure there aren’t any clients around. You can’t let them think that what we do is fun and games, or that we’re insensitive to their problems.

But this is probably not a problem in most law offices. Just the opposite. There are too many lawyers who never crack a smile and never find humor in anything.

That’s not good, either.

You need a balance. Not too much humor, not too little.

How much is too much or too little? We must use the reasonable man standard. What is appropriate? What would a reasonable man do in the same or similar circumstances?

Wait, I guess that should be the reasonable person standard. We don’t want to be sexist.

Wait, if we say person, are we not insulting the rest of the animal kingdom? Guess we need to say, “reasonable being” standard.

Hold on, that doesn’t work. What about robots and drones and AI? They may not have feelings, but that doesn’t mean we can insult them. That’s just rude. And unfair. Probably racist, too.

Okay, someone just read this and thinks I’m a jerk for making fun of an out-of-control politically correct narrative. They don’t think this is at all funny.

But hey, calling me a jerk is hate speech.Â Lawyers have feelings, too. Said no one, ever.

Filed Under: Image, Just for fun, Law office management

Herding lawyers

July 14, 2015 by David M. Ward

Our cat is getting his teeth cleaned this morning. Fun times.

As I grabbedÂ him up and settled him in his cage, I thought about a consultation I did the other day with the marketing support person at a mid-size law firm. We talked (a lot) about her challenges in getting the lawyers to do anything marketing related.

She’s a lawyer wrangler. So am I.

It’s frustrating to talk to lawyers, give them million dollar advice, and know they probably won’t follow any of it. Lawyers don’t like change. They don’t like getting out of their comfort zone.

We talked about several ways she might get buy-in about the marketing agenda. I suggested she start by trying to getÂ at least one lawyer on board and doing something, e.g., write an article for the website. I told her to make a big fuss about the article in the firm’s internal newsletter (which I suggested she start). As the other lawyers see one of their own being feted, their competitive nature might kick in and a few others might get with the plan.

You might want to do that yourself. Talk to some attorneys you know who are doing a decent job with marketing and ask them about what they’re doing. Find out how much business they’re bringing in. Get jealous, and then do something.

Start small. Outline an article, perhaps. Call a client you like and say hello.

The hardest part of marketing is getting started. The best way to do that is to schedule time for it. Schedule a 15 minute “marketing” appointment with yourself each week day. Put it on your calendar and tell your staff not to book anything during that time.

Go ahead, block out the rest of the month.

Will you do this? Today? What do you mean, you’re not sure?

Come on, you can do this. Stop looking like Grumpy Cat and block out a few minutes a day for marketing. If you do, I’ll let you sleep for the next 16 hours.

Marketing is easier when you know The Formula

Filed Under: Marketing legal services, Marketing Plan