Marketing to Referral Sources
Are you overlooking a key source of new business as you focus upon other less effective marketing activities?
Referral sources, both non-clients and clients, can serve as your enthusiastic, credible and unpaid sales force -- delivering a superior return on investment for each marketing dollar you spend than most other business development activities,
Still, many law firms fail to identify, target, nurture and reward even those referral sources who have played a major role in helpiing them to gain new clients... (More) |
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Focus on Referral Sources : $595
Do you have systems in place to identify and track referral sources? These important generators of new business for your firm deserve your attention.
Terry Graham will work with you to identify key referral sources, and establish simple and effective data capturing systems so that you can cultivate both client and non-client refferal sources.
Call Terry today at 415/686-8442. |
Rainmakers, Mistmakers & Wet Blankets
by Terry Graham, M.A.
In a booming economy, talented rainmakers bring in legal matters that are often handled by "Worker Bee" attorneys. Bee-Team players may have significant client contact, but the rainmaker owns the client and is typically paid accordingly.
This mutually beneficial rainmaker/worker relationship changes radically in a weak economy as clients seek faster, cheaper solutions to their legal needs. In a reasonable effort to protect their income, rainmakers delegate less work. Idle workers respond by competing internally for fewer billable hours, a time-wasting exercise in futility that fosters a divisive versus cooperative workplace. (More)
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Are entrepreneurs born or can they be created? The term was coined in 1800 by French economist J.B. Say, who explained that, "The entrepreneur shifts economic resources from an area of lower productivity and yield to one with higher productivity and greater yield." Hard evidence does not show that entrepreneurs fit any particular personality pattern; they are defined not by who they are, but what they do: innovate. By contrast, management tends to protect the status quo. Encouraging entrepreneurship in your practice -- if handled carefully -- will help you to create new business opportunities, new client niches, and new approaches that increase profits. (More) |
Attorney, Sell Thyself:
Knowing & Growing Your Personal Selling Style
By Terry Graham, M.A.
Many attorneys think "sell" is a four-letter word, loathing any suggestion that they be part of their firm's business development efforts. They point to colleagues who are "born" sales stars, while claiming they lack the required DNA.
But the truth is, anyone can learn how to sell if you take the time to: (1) understand your personal style, including strengths and weaknesses, (2) identify your prospect’s buying style, and (3) modify your sales pitch to satisfy your prospect’s needs and make the sale. (More)
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Creating and "working" a Top 10 List of your best potential sources of new business is the fastest way to make new sales. Depending upon your practice emphasis, your List includes current and former clients with ongoing legal needs, prospects who are inclined to hire you, and friends and family members.
A Top 10 List of Referral Sources, gleaned from historical information on past business referrals, can be an even better source of business than a Client List if you create a plan to ask for their help in finding new clients.
Ideally, your firm's attorneys will meet to discuss their own Top 10 Lists, generating a firmwide Top 10 List. Cooperative strategies to land new business from each prospect should be mapped and implemented, with results tracked regularly. (More) |