Develop Your 2010 Marketing Plan Osba Final Presentation
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Learn how to develop your 2010 Marketing Plan using the PPT and accompanying materials from the webinar we conducted on 2-11-2010 for the Ohio State Bar Association.
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Develop Your 2010 Marketing Plan Osba Final Presentation
- 1. A Unique Interactive Web-based Tool to Help Lawyers Effectively Develop New Business Develop your 2010 Marketing Plan: Tips and Strategies for Lawyers Presented to you by Terrie S. Wheeler, MBC & James Patterson, ESQ.
- 6. Building Blocks of Your Marketing Plan Develop your 2010 Marketing Plan: Tips and Strategies for Lawyers
- 30. The Traditional Training Course 1 pm 9 am 5 pm The fire hydrant approach to learning Develop your 2010 Marketing Plan: Tips and Strategies for Lawyers
- 33. Bar Associations The State Bar of California 220,000 members New York State Bar Association 80,000 members New York Bar Association 16,700 members Massachusetts Bar Association 18,500 members Vermont Bar Association 2,150 members Florida Association of Women Lawyers 2,000 members Ohio Bar Association 30,000 members
- 36. My Marketing Tools: The Class I Should Have Taken in Law School
- 40. Send your Plan to a Marketing Coach for Review
- 45. Implementation: Let’s Talk Return On Investment- Increased Revenue
- 46. Implementation: Client Survey Tools – A Timesaver
- 47. Learn about
- 48. For Lawyers who want to Tweet!
- 49. Tools to Build your Practice
- 51. Cost Comparison of MYLP to Marketing Course
- 54. A Unique Interactive Web-based Tool to Help Lawyers Effectively Develop New Business YOUR QUESTIONS ANSWERED!
Notes de l'éditeur
- Thank you for taking time out of your day to spend an hour with us! Our goal is for you to leave today’s session with the substantive knowledge and tools to develop your 2010 marketing plan Thank Paula Portner and everyone at the OSBA who helped to communicate today’s webinar You were all sent a link to the electronic materials which correspond with today’s presentation - - a 20-page document. Hopefully you have printed the materials! Let’s take a look at how the session will flow! CLICK
- First, I’m going to introduce myself and my colleague, Jim Patterson Then, I am going to present the foundation upon which a successful marketing strategy should be built for you as a lawyer We will review and discuss a specific method you can follow starting today to create and implement your 2010 marketing plan Use Webinar Feature to IM your Questions to me along the way- - using the dashboard on the right side of your computer screen While I am compiling your questions, Jim Patterson will provide a brief overview of www.MarketYourLawPractice.com a OSBA member benefit We will then conclude with me answering questions you have submitted I am pleased to also have Anthony Kalikis on the call with us. Anthony is the CEO of ESQSites123.com and will discuss the benefits of having a website as a lawyer. Like MYLP, ESQSites is also an affinity partner of the OSBA! One of the fun features of this technology is the ability to use a live polling feature. I’ll show you how that works right now! CLICK
- The first question is …..Did you download the materials for this session (sent to you twice in reminder emails yesterday, and an hour before today’s session)? Yes No I need the Link So now everyone should have access to the materials. Let’s get started! Click
- I am Terrie Wheeler, Founder of Market Your Law Practice. I spent 13 years as an in-house marketing director for some large firms in the Twin Cities. Then, 13 years ago I founded Professional Services Marketing, a company focused on delivering outsourced marketing department services to law firms Throughout my career I have served as a marketing coach to lawyers and two years ago…. I decided to replicate my marketing coaching process and “download my brain” into a web-based tool for lawyers to ethically and effectively develop new business Having served for years on the Hennepin County Bar Association’s Fourth District Ethics Committee helped me incorporate not just random marketing strategies into my website, but only those deemed ethical by the Board of Professional Responsibility Let me introduce you to my colleague and partner, Jim Patterson. Jim works closely with me serving our attorney members of Market Your Law Practice. Jim was so impressed with the website, he approached me to help me launch MYLP nationally Jim is also a successful partner in private practice and has served his own base of clients for nearly 15 years. Jim has a sophisticated tax and deferred compensation/benefits practice A little later - - while you are sending me your questions - - Jim will give you a brief overview of Market Your Law Practice. CLICK
- I would now like to introduce you to what I have termed, The Four Pillars of Marketing - - These are the foundational elements every lawyer should use when developing a marketing plan Retain and Grow Relationships with your Existing Clients and Contacts Attract New Clients and Develop New Business Increase your Personal Name Recognition in the Community Create Targeted and Effective Communications with contacts, clients and referral sources Each bullet represents the “marketing modules” associated with each Pillar Another very important part of developing a marketing plan as a lawyer is to use a proven process which involves: CLICK
- Building Blocks of your Marketing plan: First assessing what has worked (and not worked) for you in the past Putting a plan in place Committing to the implementation phase of your plan - - the “JUST DO IT” phase! Always having a focus on measuring your results Many lawyers prefer jumping into implementation because they see the firm down the street doing advertising, seminars, sending out newsletters, etc. FIGHT the URGE!!!! We strongly believe that to be effective and successful in your marketing plan, you need to first assess where you are, put your plan in place, THEN implement your plan and measure the results The water icons represent our subtle nod to “rainmaking” With those foundational elements in place, let’s help you get that 2010 marketing plan written! CLICK
- The first step in your marketing planning process as a lawyer is to identify your best contacts! As I mentioned, this presentation “tracks” directly with your materials, so please refer to page 4. The vast majority of your new business will come from your contacts so let’s identify them and put a plan in place to connect with them this year! Create a list of your top 10 current clients; those with whom you could do more work in 2010 Create a list of the top 10 clients you would like to attract in 2010; clients you are not yet working with but would like to next year Create a list of your top 10 referral sources - - those you would like to continue building a relationship with in 2010 Again use the space on page 4 of the materials to record your “best contacts” CLICK
- Next we need to determine your target audiences and develop the messages which uniquely differentiate you from other lawyers A-Level Client Criteria Let’s discuss the Importance of A-Level Client Criteria You aren’t just looking for clients - - any clients - - you are looking for those which best utilize your highest level skill as an lawyer. You need to think about their age, position, income, legal goals and much more Take time to identify the criteria necessary for a client to be a “perfect fit” for you - - then make sure your best referral sources know! Use the top of page 5 to record your A-level client criteria. Notice the last seven define the attitudes of your best clients A-Level Target Audiences After reviewing the criteria your clients need to utilize your highest level skills as an lawyer, record your A-level target audiences There are two exercises on page 5 to help you with both A-level criteria and A-level target audiences
- So now let’s refine and create your key messages… Ask Yourself: What makes you truly Unique? Think about what set of skills or approach differentiates you from other lawyers. What makes you unique and why should a client choose you over other lawyers “out there?” Many people think bankers, lawyers, accountants and Lawyers offer the same type of services to their respective clients. You need to dispel this myth and really think about what you bring to the table Use the questions at the bottom of page 5 to help you determine what makes you unique Next, Use this information to Develop your Key Messages Pretend you are sitting in front of THE perfect client for you - - they meet every one of your A-level client criteria. What would you say if asked outright, “why should I hire you over another lawyer? Your key “HIRE ME!” messages should convey what makes you unique, what your satisfied clients value most about you (if in doubt ask them - - we will address this in a moment) You can also record your key messages at the bottom of page 5 CLICK
- Now you’re Ready to Develop your Marketing Objectives Remember that your marketing objectives need to be clear, measurable and tied to a timeline (so you take action!) Your objectives should ultimately lead to growth, new sources of revenue, increased name recognition and better client communications. Objectives state your overall intention - - to increase revenue by 25% in 2010 – to develop five new high quality referral sources. You then develop an action plan directly tied to each marketing objective - - If something you are “doing in marketing” does not directly relate back up to an objective, you likely should not be doing it (assuming you have created clear, measureable objectives) Now, Create your Objectives under each of the Four Pillars of Marketing Remember your marketing objectives need to be balanced and support all of the areas required to build a BALANCED marketing plan as an lawyer. On page 6 is a worksheet to help prompt you to develop clear and measurable objectives in the areas most important when building an law practice. You do not need to develop objectives for each and every area. Pick one or two areas per pillar as you begin. Ultimately you should think about defining objectives for each area even if an objective for Advertising is to “move away from paid advertising in order to leverage more cost effective strategies like public and media relations” A few more suggestions: - Add five high quality referral sources to my network Increase revenue by 25% over 2009 Measure the satisfaction of my clients with a goal of having 99% satisfaction rate
- Now it’s time to Create your Real business development Goal for 2010 What this means is applying a little good ol revenue forecasting to your law practice. Please refer to the tool I’ve created for you on page 7 of your materials First, Identify your overall business development goal - - how much do you want to generate in revenue? Then, identify your best clients over the past few years and record them in the left column Next list the revenue generated with each client in 2008 and 2009 Make an educated guess on what you can expect to generate with each in 2010 Use the comments section to record any details you know about the client that may change your projected 2010 revenue Finally subtract your 2010 revenue projection from your overall new business development goal and you will have your “real” new business goal.
- I now want to show you how to develop your marketing action plan. But first let me ask the group: How motivated are you to put a marketing plan in place for you and your practice? Extremely Very Somewhat Not Very
- Now it’s time to tie some tactical strategies to the Pillar I marketing objectives you defined to grow relationships on page 6 Your Marketing Action Plan will be organized as your marketing objectives are - - under the appropriate Pillar of Marketing Take a look at your objectives supporting how you want to retain and grow relationships with your current clients, contacts and referral sources To help you out on the action plan, I am going to give you a few tactical ideas to consider as you create your marketing action plan supporting Pillar I – Retain and Grow Relationships with Current Contacts So first, on the top of page 8 identify five actions you can take to meet your retain and grow relationships objectives One tactical idea that would benefit each of you is to spend some time interviewing your best clients. Your current clients hold the key to helping you differentiate your practice from that of other lawyers - - so If in Doubt, Ask your Clients - If you are not sure what your clients think, ASK THEM! Page 8 also contains a tool to help you select clients you can conduct a personal interview with, and also provides questions you can review with each client. Consider using a free survey tool like Survey Monkey - - you can use it to take notes over the phone and have the responses automatically tabulate for you.
- Another ideas for you as you develop your Marketing Action Plan in support of growing current relationships: Make your Services Must-Have with your clients Really listen to what your clients tell you when you interview them - - then make sure you are “morphing” your approach, products and services, around what your clients WANT right now - - versus what you have to sell… Click on the link in the materials to access a blog post on the topic of making your services “must have” with clients THEN Use the tool at the bottom of page 8 to list services your clients “Must Have”
- Now let’s develop your action plan in support of Pillar II objectives - - new business development First, review the objectives you created under Pillar II to Attracting New Business on page 6 Now, identify five activities you will pursue in 2010 to help you attract new business. Use the space at the top of page 9 to record your new business development action plan Two important activities to pursue when in new business development mode are: 1. Doing your research . Before you meet with a new prospective client or referral source, check them out - - use the power of the internet to conduct research on people, industries, and companies. Use the FREE tool my friend Sam Richter developed to access the “hidden” Internet, www.WarmCallCenter.com - - wonderful resource! Use the process on page 9 with each new client you are researching 2. Analyze your current trade and professional association activities using the grid on page 9….then, Join or recommit to a Group and Be Active – one of the best ways to develop new business, is to actively hang out where your prospective clients and referral sources do. Remember when you interviewed your clients? One of the questions is, “what groups are you active in (social, business, community, athletic, etc.) See what the common denominators are with your clients then pick a group. Join the group and engage - - attend meetings, write for the member publication, speak at member events. Become a high profile member of that group.
- Now let’s develop your action plan in support of increasing your Name Recognition in the Marketplace First, review the objectives you created for Pillar III - Increasing Name Recognition on page 6 Now, identify five activities you will pursue in 2010 to help you increase your name recognition in the community in which you do business. Use the space at the top of page 10 to record your Pillar III increasing name recognition action plan Three ideas for your consideration when creating your action plan to increase name recognition include: Community Involvement - - If you’re not involved, get involved Social Networking Public and Media Relations Let’s look at the benefits of each as you continue building your name recognition……
- If you’re not already involved in your local community, consider becoming active in the Chamber of Commerce or the Rotary. Also remember that nonprofit organizations—especially during tough times—want and need dedicated volunteers. What organization in your community interests you? Is it a local food shelf, your place or worship, or an arts organization? Ask colleagues and clients about volunteer and nonprofit board opportunities they might suggest. You will be happily surprised at the number of other professionals who also take an interest in their community. Remember that being an exceptional volunteer translates in the eyes of your fellow board members as, “Joe/Janice must also be an excellent lawyer!” Take our brief community involvement assessment on Page 10 then access numerous resources online to learn more about volunteering in your community – live links on page 10
- I’d like to find out how active all of you are in social networking sites. Please check all that apply - - Based upon the top social networking tools and sites, please check those you actively participate in: Linkedin Facebook Twitter I publish a blog or regularly read others’ blogs I use Google Alerts to stay on top of industry issues or clients Review results
- Social Networking (i.e., facebook, Linkedin, Twitter, Blogs, and more) can be one of the best ways in which to increase your name recognition - efficiently and cost-effectively! Analyze your current Social Networking activities on Page 11 , and consider becoming a “student of Social Networking” this year! Benefits of social networking include: SN will help you better engage with your clients and contacts It will help you nurture relationships in a time-effective way You can demonstrate your knowledge and expertise to key audiences You can research your competition Build and manage your online reputation (which can be very powerful) Optimize your current web presence - - a GREAT LinkedIn profile will drive more traffic to the firm’s website Distribute content to those interested in your thoughts and articles Cost-effectively build your name recognition I have also included links to other social networking resources you might find helpful. Now let’s move on to one of THE most cost effective ways for you to build name recognition as a lawyer……………….
- Public and Media Relations Have you asked your clients how they originally found you? More than likely it will not be because of an ad you placed in the local paper. When the economy is tight, a much more credible and cost-effective way to increase your name recognition is through public relations. Pay attention to the news media and reporters covering the industries you represent. ….. And keep these things in mind:
- Four concepts to keep in mind as you focus on the cost-effective strategy of media and public relations: Keep members of the media current on happenings at your firm (through regular news releases) Talk to editors and reporters about being a knowledgeable source they can consult when covering stories involving your highest-level expertise Develop a timely and relevant story angle and “pitch” editors and reporters to interview you Identify specific ideas for articles you believe their readers, viewers or listeners need to know, contact the editors, and tell them why you are the best legal lawyer to write an article or to be interviewed on the given topic The middle and bottom of page 11 repeats the four key PR concepts - - and also provides space for you to think about Areas in which you have substantive expertise What your messages are on these topics What publications might be interested in publishing an article from you on the topic
- Review the marketing objectives you created on page 6 in the area of Pillar IV: Targeted Communications List five action items you can pursue in support of your communications objectives - - use the space provided at the top of page 12 Now, let’s look at four areas you might want to consider as you create your Targeted Communications action plan: Your Professional Biography - When was the last time you reviewed and updated your professional biography? Commit to doing so before you implement your 2010 marketing plan. The questions on page 12 will help you head in the right direction. Representative Experience - Your clients want to SEE that you have done what they NEED. Don’t tell them, show them! Create pieces of representative experience linked to your biography using the format on Page 12 Then, save your biography with rep experience as a PDF so it is easy for you to send to your contacts and referral sources - - and makes it easy for others to refer you..
- Another important Pillar IV Targeted Communications strategy is to Develop your Elevator Speech There is a short tool at the bottom of Page 12 to help you develop a summary of your practice which conveys the value you bring to your clients versus “I’m an estate planning lawyer,” or “I do employment law.” Think about what services utilize the best and highest use of your expertise Communicate the VALUE you bring to your clients Focus on the results your deliver Practice your elevator speech so you are prepared with a GREAT response to “So What do You Do? Another way you can pursue tactics in the area of Targeted Communications is to………
- Continue Communicating with Your Clients! Look at the target audiences you have identified above and again consult your Top Ten lists. Identify information that is timely and relevant to each group, and create audience-specific communications. Don’t succumb to the “firm newsletter” approach. Make sure your communications with clients, contacts and referral sources are targeted to their unique needs, and are personalized to each individual. This is one of the only ways to rise above being perceived as junk mail (email or US mail!). Communicate regularly with fewer groups, but make your communications extremely relevant to each. At the top of page 13 you will find a section to help you brainstorm relevant communications topics
- Now let’s talk about websites wit Anthony. But before we do and I introduce you to Anthony Kalikis, please respond to this question: When is the last time you added new content to your website? Last week Last month Last year I can’t remember I don’t have a website Review Results
- How is your Website? One of the most cost-effective communication tools you have is your website. Through your website you provide clients and referral sources access to information they need to know about you and your practice. When is the last time someone asked you to “send me something” about your practice? Speaking personally, it’s been well over ten years….. Today, information is conveyed through electronic communications! You can also tie your website into the other targeted communications you have with your clients by posting relevant legal updates on your website, then sending an email to select clients and contacts with a link to that information on your site. No need to budget for glitzy glossy brochures - - put your time and energy into building a website that showcases your expertise.
- The contacts you identified on page 4 are only as “good” as your willingness to take action with them. Remember your contacts are THE most important element of your marketing plan So review your contacts and create an action plan for each person. The maximum number of contacts you will be managing in 2010 is 30, so take the time to develop a contact-specific strategy for each person. Identify how you want to connect with each person Schedule a completion date goal Focus on the messages that uniquely differentiate you with this contact Take action!!! We know that creating - - and finding time to implement your marketing plan can feel overwhelming. I want to leave you with a brief overview of a web-based marketing training and coaching tool I developed, www.MarketYourlawPractice.com, which replicates the process I have refined over 20 years coaching lawyers. It is the web-based equivalent of the materials I created for you. However, our marketing tool has over 100 interactive assessments and planning tools, and over 1,000 pages of well-organized content all organized under the Four Pillars of Marketing. Our web-based marketing tool also includes many interactive features to help you manage your marketing action plan, and stay focused following up with your contacts. You can interact with your Virtual Marketing Coach, send your marketing plans to your coach for review, and even receive reminder messages to help you stay on track- - and the site is very affordable as Jim will tell you - - Attendees of this webinar receive a significant discount on the site - - nearly 50% off - - if you sign up in the next week. TURN OVER TO JIM - -
- Turn it over to Jim Jim is leading the charge on helping me go to market with our coaching tool for lawyers! He is also a Partner in successful law practice for 13 years Jim Practices in the areas of tax, executive compensation, deferred benefits, business law, estate planning and probate Attorney reviewer for www.MarketYourLawPractice.com We are also pleased to welcome Tracy Kochendorfer to our sales team for MYLP - - many of you know and respect Tracy and we’re thrilled to have her working with us! BEFORE I have Jim show you the site, let me briefly tell you WHY I developed MYLP: Goal was to replicate my proven, successful, coaching process with lawyers in a web-based environment MYLP is Not just be an archive of marketing articles; rather a process which includes interactive features so that lawyers can: Learn how to asses, plan, implement AND measure their marketing efforts Ask questions of their virtual marketing coach Have their marketing plans reviewed by their marketing coach Stay on top of the activities in their marketing action plan Follow through with their key contacts Receive reminders for marketing activities and next steps with contacts - - I just HAD to include the “nagging feature” which enables me to help lawyers actually implement the good intentions they have!!
- Let’s start though with a quick refresher of how professional development courses typically go. CLICK Of course we all start fresh and raring to go…a quick coffee, a bit of a chat and we’re alert, inquisitive and eager to learn CLICK By lunchtime though, the novelty is starting to wear a little thin. As well as the 4 voicemails and 27 emails on the Blackberry, well let’s just say the room isn’t the greatest…it’s pretty hot…but heh, at least it’s lunchtime And on the afternoon goes, punctuated by some more voicemails, emails and coffee until it finally finishes at 5 And how do you feel? CLICK Well typically like you’ve just been drowned with a fire hydrant’s worth of information…and how much of that do you actually remember and use a week or a month down the line? And it’s that problem of information overload and a detachment from real-time revenue generation that the marketyourlawpractice service addresses CLICK
- Turning then to the service in a bit more detail, it is effectively 20 separate courses on marketing and business development that subscribers can access throughout the year It is based on Terrie’s 20 years experience with the benefit of more than 1000 pages of guidance and templates which are to hand throughout the year and also professional marketing specialists available who can be contacted online by subscribers not just on the day of a course but throughout the year Put another way, CLICK the service is geared to being delivered when it suits subscribers, at their desk, with trackable progress and with a direct link to subscribers’ individual circumstances and needs And, as I’ve mentioned, in taking that approach the service marries business development and marketing with personal development, helping any in-house marketing specialists extend their reach into their firms (as well as freeing them to focus on firm-wide initiatives) and also helping assistants and partners alike actually grow their own practices with professional support along the way CLICK
- A tool to help you assess “Are You a Good Candidate for MYLP” Let me say that whether you have an hour per day - - or an hour per month, this site will help you grow your law practice We also publish a blog for small law firms and solo practitioners which contains substantive, “how to” blog posts for lawyers who are interested in using the latest tools and strategies to attract new business We have a tool on our public site which allows you to Test your Marketing Know-How - - answering a series of 26 questions to tell you which of our marketing modules will help you most right now CLICK
- We are proud to be working with the leading bar associations in the country including California, Vermont, New York, Ohio, New York, Massachusetts, and Florida CLICK
- Our member home page contains a number of cool interactive features you can access today including CLICK
- MYLP has four functions: A series of lessons and 20 minute sessions to help you integrate into the site (and to replicate what Terrie would do as a personal marketing coach when getting started with you as a coaching client) My Marketing Tools – where you access the tools on our website - - all organized as you can see under the Four Pillars of Marketing – Grow Relationships, Attract new Clients, Increase Name Recognition, and Targeted Communications My Marketing Workspace - where you access the interactive features on our site like the activity manager, contact manager, ask your virtual marketing coach, and many other features My Marketing Community – where you can interact with other members CLICK
- I’d like to take you on a “tour” of just one of our 20 marketing modules - - the client service module. First of all, each module has a Module Overview which contains the objectives of the module and links to all of the tools in that module Each module also includes: A module assessment (which provides a score - - your grade in this particular area) A module plan – to proactively determine your goals Implementation resources to help you achieve your goals, and a Module assessment – to help you track and measure your progress CLICK
- This is an example of the Client Service Assessment Tool - - which asks questions about your current client service practices CLICK
- Next, we walk you through the steps to create a proactive client service plan This plan is tailored to you and your goals - - CLICK
- One of the features that lawyers have told me they really value is access to Your Virtual Marketing Coach - - ask a question anytime and we will respond back to you within 24 hours - - you’re only a click away from marketing expertise delivered by legal industry marketing experts! CLICK
- Next you can access our Client Service implementation resources The implementation section of each module is full of tools, tips, checklists, interactive tools, and other resources to help you implement your marketing plan. One of the outcomes of your implementation process will be the need to develop and track your marketing action plan CLICK
- After you have been implementing - - in this case, your client service plan - - you can then use our measurement tool to track your results. You will actually see how your “grade” has improved in this subject! CLICK
- In your secure marketing folder, you can access “My Marketing Report Card” to compare how you have improved from the initial assessment - - through planning and implementation. In my case, by using MYLP I was able to improve my skills in networking from a C- to a B+ - - not bad!!! CLICK
- Now let’s answer of the questions we received during the program as possible. If anyone needs to leave the conference, it’s fine - - I just want to make sure I have answered as many questions as I can….. CLICK