Business Development and Marketing for Lawyers Copyright © 2010 Samira Mery Lineberger, All Rights...

Business Development and Business Development and Marketing for LawyersMarketing for Lawyers

Copyright © 2010 Samira Mery Lineberger, All Rights Reserved

Homecoming CLE and ReunionHomecoming CLE and ReunionMarch 23, 2012March 23, 2012

http://www.stmarytx.edu/


The Risk of Doing NothingThe Risk of Doing Nothing

“RecentRecent research into client relationships reveals research into client relationships reveals a startling finding: a startling finding:

87% of law firms have at least one major client 87% of law firms have at least one major client relationship at risk. relationship at risk.

Yet few law firms are aware of their vulnerability Yet few law firms are aware of their vulnerability – and even fewer are doing anything to change – and even fewer are doing anything to change the landscape.”the landscape.”

Legal Trends, April 9, 2009, by Marcie Borgal Shunk, Principal, BTI Consulting Group



What is Marketing?What is Marketing?

My Definition:My Definition: Any activity that creates Any activity that creates

(1)(1) a prospect that is a prospect that is interested interested in your services, in your services,

(2)(2) an an audienceaudience with that client, and with that client, and

(3)(3) an an opportunityopportunity to close on their business to close on their business



Marketing v. Business Development v. SalesMarketing v. Business Development v. Sales

MarketingMarketingCreates awarenessAnd interest

Business DevelopmentBusiness DevelopmentCreates AudienceAnd opportunity

SalesSalesConverts opportunity To business



Characteristics of a Solid Marketing Program:Characteristics of a Solid Marketing Program:

1.1. Well thought out business marketing planWell thought out business marketing plan

2.2. Client centered Client centered (decision making/needs)(decision making/needs)

3.3. Strategies that match the prospect’s decision making Strategies that match the prospect’s decision making process and needs to the lawyers talent & skillsprocess and needs to the lawyers talent & skills

4.4. Focused, synchronized and persistent Focused, synchronized and persistent (not rocket (not rocket science)science)

5.5. Well managed process and informationWell managed process and information

6.6. Firm wide participationFirm wide participation

7.7. Regular evaluation of effectivenessRegular evaluation of effectiveness



• Mission StatementMission Statement

• Target MarketsTarget Markets

• StrategiesStrategies

• Goals and ObjectivesGoals and Objectives

Major Components of a Marketing Plan?Major Components of a Marketing Plan?




Mission StatementsMission Statements



What is Your What is Your Dream Firm…Dream Firm…

What Do You What Do You Want?Want?

Mission Statement? Mission Statement? Why Bother?Why Bother?



Role of a Mission Statement (Why bother?):Role of a Mission Statement (Why bother?):

• Sets the goal post so you Sets the goal post so you know where you are goingknow where you are going

• Defines how you want others Defines how you want others to see your firm or describe to see your firm or describe your firmyour firm

• Focuses your efforts to Focuses your efforts to prevent distraction and keeps prevent distraction and keeps you on track for reaching your you on track for reaching your goalsgoals

• Defines your clients and how Defines your clients and how you will serve themyou will serve them


http://www.google.com/imgres?imgurl=http://i.ytimg.com/vi/MALxXtuMy2c/hqdefault.jpg&imgrefurl=http://www.blingcheese.com/videos/1/dodgeball%2Ba%2Btrue%2Bunderdog%2Bstory.htm&usg=__9kMEqPyot6TOxG80LXnDOZaG_5s=&h=360&w=480&sz=17&hl=en&start=11&sig2=n4Yzmdg8P9SyJGuenyO3Dw&zoom=1&um=1&itbs=1&tbnid=ELJf-f_nT6H-DM:&tbnh=97&tbnw=129&prev=/images%3Fq%3Ddodgeball%2Bmovie%2Bpicture%2Blance%2Barmstrong%26um%3D1%26hl%3Den%26rlz%3D1T4GGLL_enUS342US342%26tbs%3Disch:1&ei=reGiTJPuGYTGlQfE0vGTAw



Identifying Target MarketsIdentifying Target MarketsKnow Your ClientKnow Your Client



Who Should We Target?Who Should We Target?v.v.

Clients We TakeClients We Take

Area of Law is the Start Area of Law is the Start

BUT NOT the ENDBUT NOT the END



Prospective Target CriteriaProspective Target Criteria Scale: 1 – 5 Scale: 1 – 5 (5 being the best)(5 being the best)

Ease of firm’s entry into the market Ease of firm’s entry into the market (financial investment, competition, etc.)(financial investment, competition, etc.)

Experience in the marketExperience in the market

Profitability (potential revenue and profit Profitability (potential revenue and profit margins)margins)

Ability to reach market (ease of identifying Ability to reach market (ease of identifying prospect rich venues)prospect rich venues)

Ability to service client (staff, resource Ability to service client (staff, resource and equipment needs)and equipment needs)



Quality ProspectsQuality Prospects Scale: 1 – 5 Scale: 1 – 5 (5 being the best)(5 being the best)

Someone You Like / Comfort LevelSomeone You Like / Comfort Level

Needs Your ServicesNeeds Your Services

Can Afford Your ServicesCan Afford Your Services

Has the Decision Making Authority to Has the Decision Making Authority to Retain Your ServicesRetain Your Services



Know Your Client?Know Your Client? (why and what does this mean?)(why and what does this mean?)

1.1. Does not necessarily mean knowing them Does not necessarily mean knowing them personally, but personally, but knowing their characteristicsknowing their characteristics..

2.2. The better you can defined their characteristics, The better you can defined their characteristics, the better chance you have of figuring out how the better chance you have of figuring out how you can most you can most efficiently and effectivelyefficiently and effectively reach reach them.them.

3.3. The more you know about how they make The more you know about how they make decisions and what they really want and need, decisions and what they really want and need, the better chance you have of making the better chance you have of making closing closing the sale, satisfying their needs the sale, satisfying their needs (legal and (legal and otherwise)otherwise) and securing repeat businessand securing repeat business

Target Market ResearchTarget Market Research




• By name By name (pick an ideal candidate to study)(pick an ideal candidate to study)

• Where they congregateWhere they congregate

• What they readWhat they read

• Where they get their informationWhere they get their information

• Who makes their decisionsWho makes their decisions

• Their decision making factorsTheir decision making factors (personal (personal preferences for type of person and services)preferences for type of person and services)

• Their decision making “sweet spot”Their decision making “sweet spot”

Know Who They AreKnow Who They Are




Creating an AudienceCreating an Audience



The Goal – “Top of Mind”The Goal – “Top of Mind”

2008 Survey of National Market Awareness for Law Firms*2008 Survey of National Market Awareness for Law Firms*

Method: Interviewed 1700 corporate counsel from Method: Interviewed 1700 corporate counsel from Fortune 100 and Global 500 companies with average Fortune 100 and Global 500 companies with average revenue of $17.6 billionrevenue of $17.6 billion

Studied measures of awareness of law firms: Studied measures of awareness of law firms: • aided (recognized firm after given a prompt) aided (recognized firm after given a prompt) • spontaneous (named firm without aid)spontaneous (named firm without aid)• top of mind (first firm to be named) top of mind (first firm to be named)

Findings: Very high correlation between Findings: Very high correlation between ““Top of Mind Awareness” and Financial Performance (i.e. Top of Mind Awareness” and Financial Performance (i.e.

beating out the competition).beating out the competition).

* Conducted by BTI Consulting Group, a leader in strategic market research for the legal industry



““Top of Mind Awareness”Top of Mind Awareness”

Top of Mind Awareness: Top of Mind Awareness:

1.1. Ability to name the firmAbility to name the firm

2.2. Having a favorable impressionHaving a favorable impression

3.3. Ability to state a distinguishing Ability to state a distinguishing characteristic of the firm as characteristic of the firm as opposed to other firmsopposed to other firms

A “10 percent incremental increase in positive A “10 percent incremental increase in positive differentiation translate[d] into a 28.5 percent increase differentiation translate[d] into a 28.5 percent increase

in revenue for a typical law firm.”in revenue for a typical law firm.”



““Top of Mind Awareness”Top of Mind Awareness”

Does the Strategy for Reaching “Top of Mind” differ?Does the Strategy for Reaching “Top of Mind” differ?How does that effect what you do?How does that effect what you do?

ConsumerConsumer Clients v. Clients v. CommercialCommercial Clients Clients

STRATEGIESSTRATEGIES

Matching Strategies to Fit Your Client’s Decision Making

AND

That Are Within Your Comfort Zone



WHAT ARE MY OPTIONS?WHAT ARE MY OPTIONS?




AdvertisingAdvertising

Should I use advertising?Should I use advertising?• Is this the best value for Is this the best value for

my money (ROI)my money (ROI)

• Is this where my decision Is this where my decision makers usually go to makers usually go to decide who to hire for decide who to hire for legal services?legal services?

• Do I have the budget for Do I have the budget for enough advertising to be enough advertising to be effective?effective?



Networking at the Right PlacesNetworking at the Right Places

Networking Networking

TRADITIONAL

CYBER



Expert PositioningExpert Positioning

√ Active leadership participation in associations Active leadership participation in associations identified to be densely populated with identified identified to be densely populated with identified targetstargets

√ White paper and newsletter publicationsWhite paper and newsletter publications

√ Speaking engagementsSpeaking engagements

√ Free and positive publicityFree and positive publicity

√ Active, current and dynamic use of firm WebsiteActive, current and dynamic use of firm Website

Be the ExpertBe the Expert



Strategic PartnersStrategic Partners

• Probate Attorney + Financial Advisors + AccountantsProbate Attorney + Financial Advisors + Accountants

• Personal Injury Attorney + Chiropractors + Non PI Personal Injury Attorney + Chiropractors + Non PI AttorneysAttorneys

• Immigration Attorney + Non-profits Serving Same MarketImmigration Attorney + Non-profits Serving Same Market

• Oil & Gas Attorney + Realtors Oil & Gas Attorney + Realtors

• Small Business General Counsel + BanksSmall Business General Counsel + Banks

• Family Law Attorneys + Probate Attorneys + Churches Family Law Attorneys + Probate Attorneys + Churches



Your WebsiteYour Website



Lead Generation SitesLead Generation Sites



BrochuresBrochures



• Gauge SatisfactionGauge Satisfaction

• Make AdjustmentsMake Adjustments

• Good WillGood Will

• Focus their Attention Focus their Attention

• Identify other NeedsIdentify other Needs

• Inform them of Other Inform them of Other Services You ProvideServices You Provide

Customer SurveysCustomer Surveys



PricingPricing

Can Dictate Who Your Clients Are:Can Dictate Who Your Clients Are:

• For some, how you price and For some, how you price and your terms for payment will your terms for payment will dictate whether you get the dictate whether you get the businessbusiness

• For some, if you don’t price For some, if you don’t price consistent with their consistent with their accounting strategies, they will accounting strategies, they will not consider your firmnot consider your firm

• Your pricing and terms can Your pricing and terms can give you an edge over the give you an edge over the competition, even if you charge competition, even if you charge more.more.




Setting Goals and ObjectivesSetting Goals and Objectives



““I found that if you have a goal, that you might not reach it. I found that if you have a goal, that you might not reach it. But if you don't have one, then you are never disappointed. But if you don't have one, then you are never disappointed.

And I gotta tell ya, it feels phenomenal.” And I gotta tell ya, it feels phenomenal.” Peter LaFleurPeter LaFleur



Why bother?Why bother?

““The successful man is an average man, focused”The successful man is an average man, focused” UnknownUnknown

• Motivation and Push Motivation and Push (pressure to act)(pressure to act)

• The Power of Suggestion The Power of Suggestion (believe it)(believe it)

• Measure Effectiveness Measure Effectiveness (did it work?)(did it work?)

• Guide and Revise Guide and Revise (plan adjustments)(plan adjustments)

• Measure Success Measure Success (how close am I)(how close am I)

• Repeat Repeat (keep doing the same thing)(keep doing the same thing)



What are Goals and Objectives? What are Goals and Objectives?

What’s the Difference?What’s the Difference?



Try these:Try these:

1.1. The goal is where we want to be. The The goal is where we want to be. The objectives are the steps needed to get objectives are the steps needed to get there.there.

2.2. Ends v. Means: The objectives are the Ends v. Means: The objectives are the means to achieving the end, i.e. goals.means to achieving the end, i.e. goals.

3.3. A goal is an overarching principal that A goal is an overarching principal that guides decision making, while guides decision making, while objectives are specific measurable objectives are specific measurable steps that can be taken to meet the steps that can be taken to meet the goal.goal.



How to Set Goals and Objectives:How to Set Goals and Objectives:

SSpecificpecific

MMeasurableeasurable

AAttainablettainable

RRelevantelevant

TTime Boundime Bound



Be Specific!Be Specific!

• ConcreteConcrete

• DetailedDetailed

• FocusedFocused

• Well definedWell defined

• Action verbs: Action verbs:

• ConductConduct

• DevelopDevelop

• BuildBuild

• ExecuteExecute



Make it Measurable!Make it Measurable!

• Must have a Must have a tracking tracking characteristiccharacteristic

• If you can’t If you can’t measure it, you measure it, you can’t manage it!can’t manage it!



Make sure it is Attainable!Make sure it is Attainable!

Yeah, Right!Yeah, Right!

Purpose is to motivate,Purpose is to motivate, not not discourage.discourage. Ask:Ask:

• Can if be done in the time Can if be done in the time frame?frame?

• Do I understand the limitations?Do I understand the limitations?

• Can I do this with the resources Can I do this with the resources available?available?

• Is this possible? Is this possible?

• Has anyone else done this?Has anyone else done this?



Make Sure It’s Relevant!Make Sure It’s Relevant!

Does it get me closer to being

the firm described in my

Mission Statement?

What Do You What Do You Want?Want?



Set a Time!Set a Time!



Marketing Objectives:Marketing Objectives:

Should match Strategies.Should match Strategies. Things like: Things like:

• Perform a specific number of marketing tasksPerform a specific number of marketing tasks

• Make ___# of new contacts per monthMake ___# of new contacts per month

• Publish ___# of articles per six monthsPublish ___# of articles per six months

• Give ___# speeches per yearGive ___# speeches per year

• Collect ___# client surveys per yearCollect ___# client surveys per year

• Spend ___# amount of time on conducting Spend ___# amount of time on conducting marketing activities per week marketing activities per week



Marketing Goals:Marketing Goals:

Should match Mission Statement.Should match Mission Statement. Things like: Things like:

• Generate $___ revenues by third year.Generate $___ revenues by third year.

• Generate ___# of target clients by first year.Generate ___# of target clients by first year.

• Develop measurable reputation for _______ as Develop measurable reputation for _______ as confirmed by client surveys or speaking confirmed by client surveys or speaking engagement requests.engagement requests.

• Achieve _____$ a return on investment of time spent Achieve _____$ a return on investment of time spent on marketing by ___ hours (assuming $____ per on marketing by ___ hours (assuming $____ per hour) per new client hour) per new client

• Achieve a ____% return on investment on marketing Achieve a ____% return on investment on marketing dollars spent and revenues generateddollars spent and revenues generated..




Traditional NetworkingTraditional Networking



““Working a Room”Working a Room”

What does that really mean?What does that really mean?

• Building a profile on which to Building a profile on which to draw upon when planning for draw upon when planning for future approaches and future approaches and effective interaction.effective interaction.

• Primary goal is to investigate. Primary goal is to investigate. Selling is not likely at this Selling is not likely at this stage.stage.

• Gather as much information Gather as much information possible to give you the best possible to give you the best chance for filling their needs chance for filling their needs later.later.



Building a ProfileBuilding a Profile

Groundhog DayGroundhog DayGetting results:Getting results:

Gathering information…Gathering information…


http://www.youtube.com/watch?v=8Bd1hqHrUPU


Tips for Effective Tips for Effective

Event NetworkingEvent Networking

1.1. Arrive earlyArrive early (get comfortable with space; easier to talk to people (get comfortable with space; easier to talk to people when there are only a few; less interruption; better opportunity for when there are only a few; less interruption; better opportunity for introductions when others arrive).introductions when others arrive).

2.2. Meet the staff (Meet the staff (usually very open to meeting you; will want to be usually very open to meeting you; will want to be good hosts and introduce you to others).good hosts and introduce you to others).

3.3. Have pre-planned topicsHave pre-planned topics of interest to start and develop of interest to start and develop conversation (begin with social ice breakers then move to topics conversation (begin with social ice breakers then move to topics of business interest). of business interest).

4.4. Go for volumeGo for volume (you are there to make as many quality contacts as (you are there to make as many quality contacts as possible; once you get enough information to reasonably fill out a possible; once you get enough information to reasonably fill out a profile, politely move on).profile, politely move on).

5.5. Use business card strategiesUse business card strategies to help you think of things to say, to help you think of things to say, keep you asking questions and help you complete profiles.keep you asking questions and help you complete profiles.

6.6. If contact seems like a good prospect, try to If contact seems like a good prospect, try to set up a follow-up set up a follow-up hook. hook.



Business Card StrategiesBusiness Card Strategies

• Ask for their cardAsk for their card• Read it in front of themRead it in front of them• Right down notes on the back as you Right down notes on the back as you

discover information of interest (taking discover information of interest (taking notes in front of them makes them feel notes in front of them makes them feel special)special)

• At minimum, try to include the At minimum, try to include the following:following:– FFamily facts (married, spouse occupation, number and amily facts (married, spouse occupation, number and

ages of children, family activities)ages of children, family activities)– AActivities of job (beyond title)ctivities of job (beyond title)– CCompany’s business description (if not obvious)ompany’s business description (if not obvious)– TTopics regarding business that are of interest to themopics regarding business that are of interest to them– SSpecialpecial interests like sports, hobbies, politics, etc.interests like sports, hobbies, politics, etc.

Use acronym to keep you on track!Use acronym to keep you on track!



Laying the Ground WorkLaying the Ground Work

1.1. Offer to send somethingOffer to send something to them based on topic of discussion to them based on topic of discussion (If you actively search for an idea, it will help you think of (If you actively search for an idea, it will help you think of things to ask and keep you actively listening).things to ask and keep you actively listening).

2.2. Suggest getting togetherSuggest getting together (for business of social; lunch, (for business of social; lunch, drinks).drinks).

3.3. Suggest making an introductionSuggest making an introduction to someone that may be of to someone that may be of interest or helpful to them.interest or helpful to them.

4.4. Make them feel goodMake them feel good when they talk to you. (People want to when they talk to you. (People want to be around those that lift their spirits. Be high energy, be around those that lift their spirits. Be high energy, positive, up beat, enthusiastic. Use genuine compliments, positive, up beat, enthusiastic. Use genuine compliments, when appropriate. If you put them in a good mood, they will when appropriate. If you put them in a good mood, they will want to talk to you again because of the way you made them want to talk to you again because of the way you made them feel).feel).

Set up a hook for follow-up:Set up a hook for follow-up:



Working the Contact Working the Contact

Follow Up, Follow Up, Follow Up!!!Follow Up, Follow Up, Follow Up!!!




Client Interviews and Client Interviews and PresentationsPresentations



• The InterviewThe Interview

• The PresentationThe Presentation

• The CloseThe Close

(May be all in one)(May be all in one)

Going from Audience to Client




Whose Interviewing Who??

Hint: It’s not about you!!!




Getting the Most Out of Client InterviewsGetting the Most Out of Client Interviews

Goals for Interview:Goals for Interview:

• Leave the Interview with the following pieces of informationLeave the Interview with the following pieces of information

1.1. What are their legal needs?What are their legal needs?

2.2. What type of person do they want their attorney to be?What type of person do they want their attorney to be?

3.3. What kind of service do they want?What kind of service do they want?

4.4. What factors will influence their decision making?What factors will influence their decision making?

5.5. What is the decision “tipping point”What is the decision “tipping point”

• Build rapport with the clientBuild rapport with the client

• Determine what kind of communicator the client is so that you Determine what kind of communicator the client is so that you can adjust your presentation accordingly.can adjust your presentation accordingly.

• Determine their ability/preference on paying for your services Determine their ability/preference on paying for your services




"Man's inability to communicate is a result of his failure to listen effectively.""Man's inability to communicate is a result of his failure to listen effectively."— Carl Rogers— Carl Rogers

““A good listener is not only popular everywhere, but after a while he gets to A good listener is not only popular everywhere, but after a while he gets to know something."know something."— Wilson Mizner— Wilson Mizner

"Listening, not imitation, may be the sincerest form of flattery.""Listening, not imitation, may be the sincerest form of flattery."— Dr Joyce Brothers— Dr Joyce Brothers

"Wisdom is the reward for a lifetime of listening ... when you'd have "Wisdom is the reward for a lifetime of listening ... when you'd have preferred to talk."preferred to talk."— D.J. Kaufman— D.J. Kaufman

"The most basic of all human needs is the need to understand and be "The most basic of all human needs is the need to understand and be understood. The best way to understand people is to listen to them."understood. The best way to understand people is to listen to them."— Ralph Nichols— Ralph Nichols

"Bore, n.: A person who talks when you wish him to listen.""Bore, n.: A person who talks when you wish him to listen."— Ambrose Bierce— Ambrose Bierce

About Listening…




Presentation Check List:Presentation Check List:

1.1. Theme (your best selling point)Theme (your best selling point)

2.2. Overview of client’s needsOverview of client’s needs

3.3. Service plan for meeting needsService plan for meeting needs

4.4. What differentiates your firm (services, relationship)What differentiates your firm (services, relationship)

5.5. Implementation Plan (schedule, tasks, deliverables)Implementation Plan (schedule, tasks, deliverables)

6.6. Testimonials / ReferencesTestimonials / References

7.7. Fees and cost ranges (not just hourly – give fee Fees and cost ranges (not just hourly – give fee estimate)estimate)

8.8. Attorney biographies (no job resumes, no Attorney biographies (no job resumes, no employment history – present in story telling format, employment history – present in story telling format, results oriented to the clients’ interests and needs)results oriented to the clients’ interests and needs)


Closing the Deal:Closing the Deal:The Tipping Point?The Tipping Point?

Feelings!!!Feelings!!!

It’s Not About YOU!!It’s Not About YOU!!

It is How They Imagine They will It is How They Imagine They will Feel as a Result of Your Service!Feel as a Result of Your Service!

• ReliefRelief

• ConfidenceConfidence

• Meeting their ObjectivesMeeting their Objectives


Thank You for Listening!Thank You for Listening!

Samira Mery LinebergerLineberger Consulting GroupLineberger Law Firm PLLC

19141 Stone Oak Parkway, Suite 104San Antonio, Texas 78258

(210) [email protected]

[email protected]

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