Law Firm Marketing Increasing Your Revenue By Grading Clients

Law Firm Marketing – Increasing Your Revenue By Grading Clients
Law firm marketing is​ comprised of​ many different elements .​
The analysis of​ your firm in​ law practice management can be complex,​ however,​ lets begin with a​ key success variable – your current client base .​
Managing your client base is​ the​ most important aspect of​ your law firm marketing efforts .​
I​ suggest you​ begin with grading your clients.
The ABCD Solution
In looking at​ your client base for law firm marketing purposes,​ you​ can use a​ time-tested method of​ analysis .​
This is​ the​ key concept of​ ABCD clients .​
Service professionals of​ many types use this method to​ accurately rate and organize their client base .​
And for effective marketing for law firms,​ this method is​ priceless .​
By the​ way it​ is​ not just about marketing .​
It is​ also about serving your clients better than ever.
As you​ certainly know in​ schools we use the​ letter grading system to​ rank the​ students in​ order of​ how well they perform on​ papers,​ tests,​ quizzes,​ etc .​
Similarly we will grade our clients .​
So think of​ your client grading system for law firm marketing as​ summing up all the​ aspects of​ a​ good client.
A client who gets an​ a​ would be one who has reasonable expectations,​ follows your instructions,​ is​ grateful for the​ work you​ do as​ well as​ courteous and professional in​ their demeanor with both you​ and in​ particular your staff .​
In fact if​ you​ are ever wondering if​ someone is​ an​ a​ client or​ a​ D client just ask your staff .​
The a​ client sends you​ referrals that turn into a​ clients as​ well .​
The a​ client is​ never concerned with the​ fees you​ charge since they know your services are worth the​ cost .​
They pay their bills on​ time all the​ time .​
And finally,​ their cases are interesting and substantial matters .​
Now isn’t this the​ kind of​ client you​ are aiming for in​ your law firm marketing in​ the​ first place? Additionally,​ have you​ ever heard the​ old saying birds of​ a​ feather flock together? This means your a​ clients know a​ lot of​ other a​ clients who they can refer to​ you​ if​ you​ play your cards right.
Of course a​ client with a​ B grade would have many of​ the​ same qualities of​ the​ a​ client,​ but not all .​
a​ client with a​ C grade would be closer to​ a​ D client .​
a​ client with a​ D grade is​ the​ complete opposite of​ all the​ characteristics of​ an​ a​ client .​
They don't have reasonable expectations,​ they pay their bills late (some not at​ all),​ try to​ negotiate lower fees or​ retainers,​ don’t follow your instructions (may even think they know better than you​ do),​ are rude or​ unprofessional,​ they do not send referrals (or if​ they do they are also C or​ D clients),​ their matters are not substantial and interesting,​ and they often complain about normal fees .​
Not a​ pretty picture these D clients .​
Let your competitors have them!
In targeting your law firm marketing,​ C & D clients are not the​ kind of​ client you​ want to​ attract .​
Most firms find that C & D clients take up between sixty to​ eighty percent of​ their time and efforts,​ while only bringing in​ twenty to​ forty percent of​ the​ firm’s revenue .​
Does it​ make sense to​ cultivate this type C & D business? Of course not .​
You need to​ stop taking C & D business and fire (ethically of​ course) any C & D business that you​ can .​
Even if​ you​ only begin with the​ Ds it​ is​ a​ beginning .​
Quite liberating as​ well my clients report to​ fire these folks.
Effective marketing for law firms includes a​ realistic look at​ what will bring the​ best benefit for the​ best clients .​
Ridding yourself of​ clients who are graded a​ C or​ D is​ one of​ the​ best things you​ can do for your a​ & B clients .​
Without spending all your time on​ the​ C & D problems and concerns,​ you​ can pour your attention into your a​ & B clients (moving their matters to​ conclusion faster thus you​ can do more of​ them) .​
Thus the​ a​ & B clients will be even more satisfied,​ resulting in​ more referrals and more business from them .​
Clearly a​ win/win for all.
Another big,​ big advantage of​ spending less or​ no time on​ your C & D business is​ you​ can focus more time on​ developing your a​ & B referral network .​
Your increased marketing time and more focused law firm marketing will result in​ more quality a​ & B business.
What I​ have found working individually with over 500 attorneys is​ most of​ you​ will need to​ limit your practice areas to​ one,​ two or​ maybe (and I​ do mean maybe) three practice areas in​ order to​ drop your C & D cases .​
Too many attorneys are practicing threshold law that is​ defined as​ taking anything that comes across the​ threshold of​ your office .​
In selecting your practice areas try to​ incorporate cross-salable areas,​ such as​ wills and trusts,​ real estate,​ and/or estate planning for example .​
Select the​ most lucrative practice areas you​ have and then pour your law firm marketing efforts into those targeted practice areas while focusing on​ a​ & B clients and referral sources .​
This may be a​ bit frightening at​ first and in​ the​ long run you​ will be extremely glad you​ did.

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