How full is your bucket?

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"How Full Is Your Bucket?" by Tom Rath and Donald O. Clifton is a little book filled with big wisdom. Here’s why you should read this immediately: 

  • It reveals simple but powerful strategies that can dramatically improve your relationships with clients, employees, friends, family, and others. These strategies can increase your income, improve your productivity, and even improve your health and extend your lifespan.
  • It is based on 50 years of research, not guesswork. The authors PROVE their premises.
  • You can read the book in an hour and begin using the principles immediately. In my opinion, you’ll see results in days, if not hours.

The book is based on the relatively new field of "Positive Psychology," which focuses on what is right with people rather than what is wrong.

The book and accompanying web site show you how to replace negativity and criticism with positive strategies to obtain desired results.

Good reading!

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My newsletter mailing list has 2,000 names. Should I cut it?

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Q: My mailing list has 2,000 names on it and it’s getting costly to mail. What can I do reduce my mailing expenses? Should I cut down the size of the list?

A: Ultimately, you have to determine whether your mailings are producing a profit and the only way to know this is to rigorously track response. If you aren’t at least breaking even, you should make some changes.

You can reduce mailing costs by:

  • Cutting older names
  • Mailing to everyone and ask them to tell you if they want to stay on your list. (Make it easy for them to respond, however, with a postage paid response device, for example, because people are busy and may forget to respond even when they want to remain on your list).
  • Reducing the frequency of your mailings
  • Reducing the weight (which saves on printing/postage)
  • Using bulk rate postage and professional letter shops

But marketing professional services is a process not an event and tracking results can be elusive. How do you know that someone who has been on your list for three years but never hired you won’t become your client (or refer your next client) next month?

The answer is you don’t know. Therefore, I would err on the side of keeping people on your list. But I would segment the list and create different mailing categories.

Your best clients or referral sources, for example, should hear from you more often; monthly is not too often. People who have never hired you or referred to you, however, might hear from you only once or twice a year.

Your BEST source of NEW business will always be people who have hired you or referred to you in the past. Spend more on  them.

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How to get a competitive advantage over other lawyers

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A great way to stand out in a crowded field is to do something nobody else is doing. Nobody sends postal mail any more and that’s exactly why you should.

Everyone is moving online. Yes, you must have a presence online. In fact, that’s where you should concentrate most of your marketing muscle. But there are great fortunes to be had by those who use old fashioned paper and envelopes and stamps to communicate with clients and prospects and referral sources.

The volume of direct mail is way down. What that means is that your prospect’s mail box is emptier than a few years ago. As a result, when your client gets your newsletter in their mailbox, it won’t get lost in the clutter. Compare that to their email inbox, where they are inundated.

Your printed and mailed message means much more to them, too. They can hold it, they can sit in their favorite chair and listen to your words spoken from the page, or throw it in a briefcase to read on the train. Yes, they can do all that by printing your email or pdf, but it’s not the same. It lacks some of the warmth and personality of something actually delivered to their mailbox.

Just as there’s a big difference between an email that says "thanks" and a hand-written, personal thank you note sent by mail, you can get the essence of that difference with a printed newsletter or other message.

Also consider the retention factor. If you write a good newsletter or report and get it into the hands of clients and prospects, they’ll be more likely to hold onto it if they don’t have time to read it now. And, if they do read it now and it is good information, they’ll be more likely to hold onto it for future reference. By contrast, I’ve got emails I’ve saved in my inbox for years, but I’ll never find them.

What about "pass along"? Well, it’s easy for them to forward your email message to a large number of people, but what will those people do with the message? Probably not read it and probably not hold onto it, either.

There is a greater cost to putting things in the mail, and more labor, too. But the question isn’t the net cost of one medium of communication versus another, it’s net effectiveness. Return on investment.

Don’t stop sending email, but do consider starting (or re-starting if you have let lapse) a postal mail campaign to keep your name and message in front of the most important people in your business life. You’ve often heard me say, "They may not be able to hire or refer today, so stay in their minds and in their mailboxes until they do." Today, they have more than one mailbox and you should be in both.

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Should you buy a “canned” newsletter?

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If you write a newsletter or a blog (and you should) you need content. But it takes time to write something worth reading and attorneys have precious little time to spare. There are services now that sell articles you can use, copyright free. You pay your money and you can print them under your name.

It’s a new twist on an old idea.

Canned newsletter for professionals have been around for years. My state bar sells pamphlets lawyers can send to their clients with their name stamped on the back. Of course you can hire a ghost writer, or assign someone in your office to write material for you. There are plenty of ways to get content that you don’t originate. The question is, should you?

In my opinion, you should not. Canned materials are never a good substitute for creating your own newsletter, articles and reports. They are better than nothing, but not much.

One reason is that far fewer people will read it. These articles and newsletters are very general and very bland. And a lot of people will know you didn’t write them. I toss my insurance agents newsletter in the trash, unopened, because I know it comes from a staff writer in New York and has little value to me. There is nothing personal or interesting in it. My dentist writes a personal newsletter, but it is terribly boring. I open and glance at it, in case there might be something that pertains to me in it (e.g., a change in his office personnel or procedure) but I don’t read it.

(Here’s a clue that it’s canned: there are no stories in them. Facts tell, but stories sell, and if what you write doesn’t have stories in them, either, you’re missing the boat.)

Now, there is some value in your clients getting something from you with your name on it, even if they don’t open the envelope or email. They are at least reminded that you still exist. But you’re missing the opportunity to build a relationship with them, and that’s costing you more than you can imagine.

The purpose of newsletters and reports and blogs is to (a) stay in touch, reminding people that you still exist, (b) demonstrate your expertise, your ability to deliver the benefits they seek, and (c) create a dialog with the reader that supports your relationship with them. With canned material, you can only stay in touch, and poorly, at best.

You want people to read your words, and "hear" your voice. You want them to believe you are writing just to them. You want them to read and appreciate your special news or offer. And you want them to see that you care enough about them to take a couple of hours once or twice a month to write something "just for them".

The time you invest in this process will not only be "worth it," it is the single most profitable thing you could do to build your practice.

Seriously. The people who know, like, and trust you will hire you again and again and they will efer people to you, too. There is no cost to acquire these clients, other than printing/mailing costs if you do that (and you should) and your time.

Now, don’t panic. Once you get the hand of it, it doesn’t take as long as you think.

Start by producing some "evergreen" materials, reports, for example, that once written, you can use over and over again for years to come. You have expertise in your field and you can write a report in two hours. Here’s your assignment for your first one: Take the five or ten questions you are asked the most by prospective or new clients, and answer them. There, you have a report.

A newsletter or blog require continual replenishment of material, but this is worth it, too. You don’t need as much as you think. A monthly newsletter could be two pages. A postcard, if that’s all you can do. Far more important than quantity is that they hear from a real person, sharing a story, a thought, a piece of your mind.

For a blog, three to five paragraphs, one to three times a week can be enough. What’s important is that it be your voice, your opinion, a glimpse into your world. Your clients and prospects (and referral sources) need to feel they are a part of your life and you a part of theirs. You want them to "know, like, and trust" you, and to do that, your material needs to be your own.

I’ve told attorneys in the past to order the canned newsletter or articles if they feel they must, but to make them their own. "Rewrite them, add your commentary, offer examples and advice that are specific to your practice. What do you agree with? Disagree with? What else does the reader need to know?"

Today you can pretty much do that without paying a service. Just go online, find something someone else has written, and use it as an outline or idea starter for your own material.

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Don’t let this happen to your clients (or you)

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Many (most?) people think identity theft is about credit and credit cards, but that’s only about a fourth of the problem. These two videos are frightening examples of other kinds of identity theft and, unfortunately, they are more common than you think.

Once you have watched these, spend a little time educating yourself about identity theft, and then tell your clients. Warn them and inform them. Tell them what to watch out for and tell them how to protect themselves. Especially now, during the holiday season, when identity thieves run like pack wolves. As the first video suggests, it could save their life.

And if you don’t have identity theft protection, think about getting some. I have what I believe is the best service available and I also sell it. (No commercials, though; if you want some information about the service for yourself and/or to offer it to your clients, contact me.)

 

 

 

 

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Marketing opportunity for lawyers: FTC releases survey of identity theft

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FTC Releases Survey of Identity Theft in the U.S. Study Shows 8.3 Million Victims in 2005

Now that you know, do you know what to do about it?

Here’s the lead to their press release:

The Federal Trade Commission today released a survey showing that 8.3 million American adults, or 3.7 percent of all American adults, were victims of identity theft in 2005. Of the victims, 3.2 million, or 1.4 percent of all adults, experienced misuse of their existing credit card accounts; 3.3 million, or 1.5 percent, experienced misuse of non-credit card accounts; and 1.8 million victims, or 0.8 percent, found that new accounts were opened or other frauds were committed using their personal identifying information.

"Whether you’re from Malibu or Manhattan, Tacoma or Tallahassee, no one is immune to identity theft," said Lydia B. Parnes, Director of the FTC’s Bureau of Consumer Protection. "The important thing is that people learn how to deter identity thieves, detect suspicious activity on their financial records, and defend against the crime, should it happen."

The full story: http://www.ftc.gov/opa/2007/11/idtheft.shtm

The FTC Identity Theft site: http://www.ftc.gov/idtheft

Another FTC Identity Theft resource: http://www.ftc.gov/bcp/edu/microsites/idtheft/

Identity theft is a growing problem and some experts predict it will soon become an epidemic. As more people become aware of the issue, they will be seeking answers. Who better to provide those answers than an attorney?

There is no shortage of information available. In addition to the FTC, which, I believe grossly understates the scope of the problem, millions of web pages provide an abundance of data and real life stories of identity theft victims. A few hours of weekend research would provide enough background to make you conversant with the issues and various strategies for combatting the growing problem.

Armed with this knowledge, you could inform your clients, prospects, and referral sources, via your newsletter, ezine, reports, articles, web sites, seminars, and so on, and thus, position yourself as a valuable resource on the subject. That opens up all kinds of marketing opportunities for you. And, as identity theft becomes more prevalent, the value of your "expertise" on the subject could skyrocket.

There are five common types of identity theft, and anyone with a social security number is at risk. Personal information stolen from the victim themself is not the biggest risk. It is the vulnerability of the thousands of databases where that information resides. Every day we see evidence of this in the news–stolen laptops, hacking, insufficient wireless encryption. And no, we cannot stop identity theft, as some advertising would have you believe. All anyone can do is prepare themselves for the consequences in the event they become a victim. By the way, the odds of that happening, according to some estimates, will soon be in the neighborhood of one in four.

Your business clients are at risk as well, and so are you. New federal laws impose administrative and civil penalties, and even criminal liability, for failiure to safeguard certain non-public data, even if that data is not stolen. These laws apply to nearly any business that is in possession of that data, and that includes lawyers. Many states are considering (and some have already passed) even more stringent legislation. And, we’re starting to see the plaintiff class action bar sharpening their chisels. (Why is that not surprising?)

So, this is not something that’s going to go away. A lawyer friend of mine who has become a national expert in this field tells me identity theft will increase twenty-fold in the next two years. Bad news for consumers and businesses, but a marketing bonanza for astute attorneys who position themselves in front of the coming wave.

One more thing: some lawyers have developed a new practice area, consulting business clients on (a) how to comply with the new laws and (b) how to mitigate their exposure in the event of a breach. And many lawyers are starting to offer their (business and consumer) clients third-party identity theft protection services, both as a service to those clients and as a source of revenue. If you are interested in either one (consulting and/or offering third-party services), I’ll be happy to show you what I, and many other still-practicing attorneys are doing. 

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What to put in your new client welcome letter

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There are many benefits to sending your new clients a "welcome" letter.

  • It allows you express appreciation by saying "thank you"
  • It shows that you are organized, which reduces anxiety and inspires confidence
  • It lets you assure clients of your commitment to helping them achieve their desired outcome
  • It lets you tell them what to expect, avoiding surprises and allowing you to deliver more than they expect
  • It orients them to office procedures (hours, whom to call, where to park, etc.), reducing confusion
  • It allows you to encourage the client to ask questions or express concerns
  • It can inform the client about your other practice areas (cross-selling)
  • It can let them know that you appreciate referrals
  • It let’s them know more about you, adding to your developing relationship

Your welcome letter should make the new client feel truly welcome, appreciated, and empowered. It should calm their fears, inspire their confidence, and innoculate them against negative consequences. They should conclude, upon reading it, that they absolutely made the right decision in choosing you as their attorney.

Welcome letters should be signed with an original signature, not a photocopy, or worse, left blank. Add a personal note, handwritten at the end of the letter, adding a comment about the client’s situation, family, or business, or an additional word of encouragement. Show the client that you took the time to personally ackowledge them, rather than asking your secretary to send out a form letter.

For a unique twist, consider an "audio letter". Simply record your welcome message and burn it onto a CD. You can add audio greetings from your partners and staff, too. If you really want to go crazy, you could record a video welcome letter onto a DVD. Take the client on a video tour of your office, introduce them to staff, show them your library, and so on. You should do this with them in person, of course, but this is nice added touch.

Is your welcome letter doing everything it could? If not, take the time to make it better. You won’t get another chance to make a first impression.

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“The 30-second rule”: more clients and better verdicts?

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In a recent post, How to make people like you, I said that a positive attitude is a key to getting people to like you, especially when dealing with people facing stressful situations. Being liked may not be first on the list of traits you associate with success in the legal field, but countless studies demonstrate that people prefer to do business with people they know, like, and trust. All things being equal, clients will choose you and referral sources will refer to you, because they like you.

Let’s face it, even litigators benefit when juries, judges, adjusters, and opposing counsel like them.

Books like The Likeability Factor: How to Boost Your L-Factor and Achieve Your Life’s Dreams by Tim Sanders and 25 Ways to Win With People:How to Make Others Feel Like a Million Bucks by John C. Maxwell and Les Parrott substantiate this and offer specific strategies for achieving greater likability.

Maxwell and Parrott say the way to make people like you is to make them feel good about themselves when they are with you. One way to do that is with something Maxwell calls, "The 30-Second Rule: within the first thirty seconds of a conversation, say something encouraging to a person."

Maxwell learned this from his father who taught him that when you make contact with people, instead of focusing on yourself, search for ways to make them look good. It could be saying thank you for something they have done for you or someone you know. You might praise them on an accomplishment, or offer a word of encouragement as they work towards a goal. Or you might simply compliment their appearance.

Maxwell encourages us to ask ourselves, "What positive, enouraging thing can I say to each person I will see today?"

With whom is your next appointment? Who will you be speaking with later today? Think about what you could say to them that will make them feel good about themselves, and say it.

This may feel uncomfortable, at first, but give it a try. What might surprise you is how good you feel making others feel good about themselves.

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How to make people like you

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No, I’m not talking about cloning. (Sorry. Couldn’t resist.)

Psychologists tell us that the most important ingredient for success in personal and business relationships is “liking”. The more people like you, the more success you will tend to have.

The Law of Association says that people associate how they feel about you with how they feel at the time they meet you. If they are in a good mood when they meet you, they tend to associate those good feelings with you and, as a result, be more inclined to like you.

“If you want to be liked by a person, try talking to him when he is in a good mood or excited about something. These feelings are anchored and associated with you, and this person will then come to have positive feelings toward you,” says David J. Lieberman, Ph.d, author of “Get Anyone To Do Anything.”

Most people meet an attorney under times of stress and difficulty. Your challenge, then, when meeting new clients is to make them feel hopeful and positive about solving their problems and about the future. As early in your first meeting as possible, you need to make them feel that “everything is going to be alright”.

That ties into another psychological principle cited by Dr. Lieberman as being a factor in “liking”: positive attitude. “We all seek, like, and admire those who have a positive, happy outlook and perspective on life. Why? Because that is what we all want,” he says.

Don’t worry. Be happy. Get folks to like you.

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