Speaking the Language of Real Estate, Business and the Law: The strength of the team is each member. The strength of each member is the team. –... 19 Secrets That Increase Response to Print Ads: Have you ever purchased a display ad in the newspaper and then not received a single... Thinking of Relocating Your Business? The City of San Diego May Pay You to Stay: In an effort to attract and retain high-performing companies, the San Diego City Council... Build It or Change? Making Culture Tangible: 30,000 feet. Long-haul travel. I am tired but intrigued about what I am observing. - Not... The Introvert Lawyer’s Guide to Networking: A few years ago, a meme that I found hilarious circulated the internet. It read... The “If-the-Market-Knew-My-Story” Approach to Business Development: There is a basic principle in communication theory—shared experiences form the basis... The Future of Law Firm Business Development Belongs to the Bold: Ultimately, the meek may, indeed, inherit the earth. But history suggests that, in the... Community News – September 2018: The Law Offices of Andy Cook is pleased to announce that Joshua Yee has joined the... Finding the Best Answer to “What’s Next” in Business Transition Planning: At some point in the natural life cycle of a closely held company, self-made... Balancing Act—Lawyers, Time, and Life: Finally, it is all coming together. You’re licensed. You are ready to practice on your...
Executive Presentations-468x60-1

Growing Your Practice: Small Law Firm Quick Guide

Turning Business Development Ideas into Reality
Growing your firm is essential for small law practices. It is something that needs to happen but to which most attorneys fail to dedicate an adequate amount of time. One takeaway that you need to have when strategizing business development ideas is that they need to be actionable. Big picture talk is great, but you need to have step-by-step goals to reach the big picture. Without these actionable items, your ideas will rarely become a reality.

Focusing on the Return on Investment
No matter what the strategy is for growth you need to focus on the ROI or return on investment. Without tracking expenses and gains, you will likely be throwing money away. Before investing any money in a new marketing scheme or business development idea, you should define the goals of the investment. Knowing your goals will help you to measure your ROI. The goals should be broken down into benchmarks that will help inform your decision on whether to keep investing in the opportunity, change tracks or go in a new direction. Say your firm decides to sponsor an event or program. Sponsorships are a great way to get the word out about your firm. They are also a valuable networking opportunity. But sponsoring an event without trackable goals could be a waste of time and money. Start with an overall goal of the sponsorship such as generating three new clients. Then establish a plan to make that happen. Decide who will represent the firm and what their individual goals will be. Any contacts that are made during the event should be noted, and a follow-up email or card sent. You can weigh the expenses of the event against any new business that was obtained through contacts or referral sources and decide if the ROI was justified.

Understanding the Reach and Impact of your Content
Any marketing communication should be tracked and analyzed to see what kind of an impact it is having on your contacts. One of the most natural areas to start is with email communications. If you send out a newsletter or other templated email you can track the number of people that are opening the email (open rate), those that opened the email and clicked on a link (Click Through Rate) and those that have unsubscribed. Tracking these metrics will determine not only the reach of your email marketing efforts but also if it is having a positive impact on your audience. You can assess whether to continue the campaign or to change the format.
Social media campaigns, blogs, and other online marketing efforts can also be tracked and analyzed. Some programs can help you determine the number of website visitors, their engagement and if they are converting into paid clients. The world of digital marketing and tracking your digital marketing efforts could fill pages; suffice to say here, you should be monitoring each campaign and using metrics to guide your spending. If you do not have an in-house marketing department, you should be working with a reputable outside company. Basic knowledge of digital marketing will go a long way in making sure that your firm is having success with each of your campaigns.

Investing in the Future
Once you have the data, your law firm will be able to track information on the success of your investments. Regular meetings about your business development ideas and marketing strategies will help you assess what is working and what should be reconsidered. A firm grasp on your firm's investments and the ultimate revenue from those investments will help to inform your decisions for each year to come. Over time if you do not see substantial growth, then your strategy should change.

Bill Tilley

Bill Tilley is the Founder & CEO of Amicus Media Group (AMG). AMG brings to the table an unparalleled network of media relationships and services to drive quality cases to law firm partners at the most cost-effective economics possible. Utilizing the power of television, radio, and the web, AMG combines our extensive experience in legal marketing focusing on areas such as Mass Tort, Personal Injury, and Family Law. Amicus Media Group’s range of services span from media buying, media management, performance marketing, campaign financing, and creative production. Learn more by visiting amicusmediagroup.com.

More Posts

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)
PDF Creator    Send article as PDF   

Filed Under: Featured StoriesMarketing

About the Author: Bill Tilley is the Founder & CEO of Amicus Media Group (AMG). AMG brings to the table an unparalleled network of media relationships and services to drive quality cases to law firm partners at the most cost-effective economics possible. Utilizing the power of television, radio, and the web, AMG combines our extensive experience in legal marketing focusing on areas such as Mass Tort, Personal Injury, and Family Law. Amicus Media Group’s range of services span from media buying, media management, performance marketing, campaign financing, and creative production. Learn more by visiting amicusmediagroup.com.

RSSComments (0)

Trackback URL

Leave a Reply

  • Polls