- May 12, 2021
- Posted by: JPM 4 Marketing
- Categories: Branding, Content Strategy, Digital Marketing, Legal Marketing
Whether you’re planning to retire and sell your firm or you just want to attract quality talent, marketing helps, a lot. Developing and continuing a marketing strategy translates to market awareness, validation and consistency. These are business qualities that make your firm attractive to potential buyers and future employees or partners. An added benefit is the likelihood that your firm is more likely to meet your revenue projections having a consistent marketing plan.
You can put your firm in the best position to attract talent and buyers by focusing on 3 areas; attracting new clients, having a scalable process and providing value in your local market. Creating comprehensive marketing strategies will help your firm excel in all three of these areas.
Attracting new clients is all about marketing and keeping a strong sales funnel in place. Tracking the data and maintaining metrics regarding the cost of acquiring each client, calculating the average fees generated by each client and understanding how long it takes to acquire a client from first contact to collecting a retainer will help you implement a consistent successful marketing strategy.
Having a process that is structured and able to handle increasing client volumes also helps produce strong results. While the initial investment of time may seem excessive, it will pay off as your firm continues to grow. Establishing and documenting your processes will make it easy to quantify your results and project your future revenues. In short, these processes will help you reduce risk and uncertainty.
Provide value to your market through community outreach, blogging, social media and whatever other actions are effective. Over time this approach will attract clients that are looking for value versus those who are shopping for the least expensive law firm. You’ll also develop a reputation in your community for being a valuable legal resource.
If you can manage these three areas successfully you will attract talented employees and create a valuable brand for your law firm. That’s a winning combination for any business!
If you need help creating a successful marketing strategy and improving your results, please feel free to schedule a phone appointment with me.