Marketing Briefs
Recommended Reads for Professional Service Firms

by S2 Marketing Strategies                               
                                               October 27, 2015

A recent study by BTI Consulting found that across all sizes of firms, rainmakers book five times more business than other partners.  Over the course of a lawyer's career, that's not chicken feed.  

So, what is it that these rainmakers have in common?  

The study reveals that among other things they are incredibly self-disciplined and they are very strategic about how they grow their books of business.  They don't just want more clients, they want bigger clients.  

Being good communicators is also a trait they have in common.  They are constantly in a dialogue with their clients and referral sources sharing information that is relevant and pertinent.  They keep themselves and their clients educated and current.

And as you might expect, they are not just good, but exceptional relationship builders.  They don't "sell," they develop relationships and nurture them over time.  They are committed to help.  They are the "fixers" who offer insight, introductions and assistance even if the problem has nothing to do with legal work.  They learn everything they can about the people that they do work for or send them work, and they know that good service is not just a good idea, but a requirement.

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They send you 83% of your work
Your friends, whether on social media or not, should be the cornerstone of your business development strategy.  Check out this report by LexisNexis on how professional service firms get work.  When deciding to hire a lawyer, the overwhelming majority of people talk to their friends and advisors.  So, if you've thought about how you want to spend your time to get additional clients, focus on your existing clients, people who have already referred work to you, or people you know who interact with your target segment or are viewed as influencers.  Lowest on the list are family members (sorry mom), yellow pages, television advertising, and newspaper advertising.  Plan your day, plan your it goes.
No need to blow the budget
Technology offers a new way of marketing that in many cases doesn't cost money.  It just takes time.  Yes, well, time is money, but even if you pay for marketing, it still takes time.  The Legal Marketing Association Technology West Conference served up some good ideas that don't cost any money at all.  The key trends spotted included keeping your web bio updated, using social media, showing some personality in what you write and post on the web, and working on "earned media" and client alerts, as these two communications are the most trusted by in-house counsel.
Fear of rejection
Get rid of the head trash
The National Law Review thinks there are three reasons why lawyers avoid business development.   Most lawyers could probably come up with way more than three reasons why they'd rather do almost anything than business development.  One reason mentioned in the National Law Review article is fear of rejection.  Fear is all in your head; danger is real.  There is nothing dangerous about business development. Get rid of the "head trash" and focus on making it something you enjoy.  

Compiled for you by S2 Marketing Strategies LLC
Dona Stohler, Founder and Principal
Develop Your Business. Tell Your Story.
Strategies for Professional Service Firms