How to Effectively Market and Manage a Law Firm

By Romeo Richards
$9.99 Rating: Not yet rated.
Published: Jan. 15, 2013
Words: 64,732 (approximate)
Language: English
ISBN: 9781301288533

Short description

How to Effectively Market and Manage a Law Firm aims to teach lawyers how to attract new clients and retain existing ones. The most important element of running a law firm is the marketing. I am aware most lawyers will beg to disagree because the majority see themselves first and foremost as lawyers. As laudable as this may sound, the reality is, without clients, there is no law firm.

Extended description

How to Effectively Market and Manage a Law Firm was written to teach entrepreneur lawyers the requisite skills for running successful law firms.

At a recent party, I had a discussion with a lawyer whose wife owns a law firm. He informed me that his wife was to arrive late at the party because she was busy working. I remarked to him that if the owner of a law firm is working late, it means the firm is in trouble. “No”, he responded - working hard is a good sign because it means she is making money.
That’s factory worker mentality I said. It is the factory worker who equates hard work with more money. When you own a law firm, making money means your firm should be able to function without you. Can you imagine Richard Branson piloting his virgin airlines or driving his trains? (Read more) How to Effectively Market and Manage a Law Firm was written to teach entrepreneur lawyers the requisite skills for running successful law firms.

At a recent party, I had a discussion with a lawyer whose wife owns a law firm. He informed me that his wife was to arrive late at the party because she was busy working. I remarked to him that if the owner of a law firm is working late, it means the firm is in trouble. “No”, he responded - working hard is a good sign because it means she is making money.
That’s factory worker mentality I said. It is the factory worker who equates hard work with more money. When you own a law firm, making money means your firm should be able to function without you. Can you imagine Richard Branson piloting his virgin airlines or driving his trains?

What most entrepreneur lawyers fail to realise is success in the business of law is not dependant on mastery of law. Rather, it is dependent on the ability of entrepreneur lawyers to market/promote their law firms.
All successful law firms have one thing in common: they all have plenty of clients. In the final analysis, the most valuable asset of a law firm is not the office building, the cars, office equipment not even its brilliant lawyers. The most valuable asset of a law firm is its clients.

Without clients, there is no firm…
Even though client attraction is the most essential element of running a successful law firm, it is the single skill missing in the majority of law firms.

How to Effectively Market and Manage a Law Firm provide lawyers the necessary skills to attract truckload of new clients and retain existing ones.

There are three important components of law firm marketing:

The Message
The Market
The Media

In most instances, when the subject of marketing is discussed in legal circles, the entire discussion is centred around the media: placing ad in the newspaper, yellow pages or on the
radio.

However, effective law firm marketing must start first and foremost with the message. The message is the offer and the USP of the firm.
The next element of law firm marketing is the target market. At this stage the question that needs to be answered is: who is the target market?

It is only after there is a message to marketing match that the third element which is the media needs to be given consideration.

In this internet age, there are several media through which a law firm marketing message can be channelled. Effectively utilising multiple media is the best way of transmitting a law firm marketing message.

In How to Effectively Market and Manage a Law Firm, you will learn:
• The five legal business success fundamentals: visionary leadership, great people, good marketing system, good system and good business model.
• The marketing strategies used by the most successful law firms
• Strategies for creating new markets for a law firm
• Strategies for attracting “A talents” legal and administrative staff
• Strategies for creating good business system for a law firm
• Strategies for creating good law firm business model
• Ways of developing metrics for measuring: productivity, staff performance, marketing ROI and financial results
• The process for identifying the bottleneck preventing a law firm’s growth
• Strategies for developing adaptive capacity to cope with the changing legal environment
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Tags

how to market and manage a law firm, law firm marketing and management, market and manage a law firm, marketing and managing law firm

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