Subscribe to LexTalk to stay on top of today’s legal issue and trends.
Catapult Your Career |
Industry Insights & Trends |
Product Training & Tips
By Matt Starosciak
Marketing a small practice in today’s ultra-competitive legal space is a tough task. That’s why it is so important to immediately increase your investment in marketing strategies that produce strong returns. Recognize that success in your industry is almost never luck, and that competitors will not stay ignorant for very long. A short story about a past client will illustrate this important concept.
In 2007, I was working with a struggling attorney who specialized in white collar criminal defense and, in particular, the representation of health care providers whose licenses were either suspended or in jeopardy. He skeptically invested $350 per month in a very average template website and two top spots on one of the major lawyer directories.
Six months into his program I went back to check up on his progress. He told me that two doctors retained him, one for $98,000 and the other for $15,000. I was shocked. While I expected his program to provide a return, I never would have guessed it would produce at that level.
Of course, at that point I told him “Now you know this works, let’s build a custom website that really shows your credentials and buy more placement to put you in front of a larger group of prospects.” After a number of weeks of back and forth emails and phone calls, this attorney decided to “sit tight” and not make any additional investments.
I sometimes wonder what happened to this attorney as the market continued to get ultra-competitive in the years since our work together. And I’ve remained puzzled at his unwillingness to make a more substantial investment, even after seeing fantastic results.
The truth is, however, that this is common among lawyers. There are many in private practice who refuse to spend the money they should on marketing, even when confronted head-on by a really nice ROI. The good news is that their conservative approach creates opportunities for everyone else that otherwise would not exist. Now you simply have to take them.
LexisNexis® helps small firms advance. Our services are tailored to fit your budget and your firm’s specific needs. You get the latest legal research innovations and trusted content at a great value. Contact a rep today to learn more!