Large practices have the advantage of being able to spread the cost of marketing across a large number of lawyers and paralegals, all of whom are generating revenue. For small practices, it can be challenging to maximize your available time and money.
The starting point of any marketing campaign is to determine the goal of your marketing campaign. Do you want to increase brand awareness or do you want to generate specific leads? You will also need to decide to whom you are wanting to market. The two main areas are professional contacts and the general public.
Your marketing goals should be part of your business plan. You will need to determine your revenue targets, expenses, and business structure. Many practices run into difficulty because they do not allocate sufficient time or money to marketing.
Branding
When targeting other professionals, networking plays a significant role in marketing. The goal is to meet as many target professionals as possible and have them associate a positive memory with you.
The Canadian Bar Association is an excellent networking opportunity. Being involved in CBA Sections or attending training opportunities can create significant networking connections.
When networking, it is essential to make it clear that you are taking new referrals. If you are networking with senior lawyers, you can ask them for referrals. When marketing to the general public, joining organizations such as the Chamber of Commerce, church groups, and sports associations can create opportunities.
Promoting your brand to the general population is accomplished by plastering your name in as many locations as possible. Ideally, your branding efforts should be paired with a positive association. Sponsoring a local charity or sports team can be a very cost-effective way of creating those associations.
Marketing professionals often talk about the Rule of 5/95. At any given time only 5% of consumers have the desire to purchase your product. The goal of branding is to have your business at the top of people’s minds when they decide they need your services.
For example, Coca-Cola does a lot of repetitive advertising. The goal of that advertising is not to get you to go out and buy a Coke immediately. Rather, the next time you are feeling thirsty the first thing you think of is a Coke.
Lead generation
The starting point for any lead generation is to determine the specific product that you wish to sell. It is a lot more expensive and time-consuming to promote all of your services than it is to promote specific services.
Lead generation is targeted at the 5% of the population that need your product at a given time. These ads need to represent value and imbue a sense of urgency. For example, one effective family law advertising campaign encouraged consumers to “act now before the new Divorce Act comes in.” This was coupled with a value offer of $1500 for a desk order divorce.
When advertising specific services, you can either advertise loss leaders or high-profit services. A loss leader is a service that you provide, potentially at a loss, in order to draw clients to your practice.
This approach can be very effective when using online tools such as Google ads and Facebook. These tools provide excellent tracking, but do require a clear understanding of the programs.
Visibility
The best marketing plans can fall apart if clients are not able to find you. Having a decent and well-organized website is essential. Ensuring that when clients contact you you respond immediately is also important. A potential client may be going through a list of lawyers and if you did not respond to them promptly, they simply go on to the next one.
Office procedures and practice software such as Clio Grow, which quickly responds to intakes, can maximize your chances of converting a lead into a client.