Think about what your primary motivations were for starting your firm. Services What practice areas will you cover and what specific types of services will you provide to your clients? Management Who will be the partners and directors of the firm? Mission Statement The mission statement is a succinct explanation of why your firm exists, how you serve your clients, and what you strive to accomplish.
What are the unifying principles that you and your organization must always strive to adhere to? Expansion into other locations? Being acquired by a larger firm? Set specific goals How do you see your firm evolving over time? Market Analysis A thorough market analysis is one of the most important parts of your business plan. It will help you identify your strengths and weaknesses, and find ways to differentiate yourself from the competition.
Here are the key details that should go into the Market Analysis section of your law firm business plan: Target Clients Describe your ideal clients in as much detail as possible — when you have a clear picture of who your client is in mind, your marketing becomes much easier Include things like where they live, how old they are, approximate income levels, what social groups they belong to, etc.
Competitors Take a close look at your competition — identify a list of other firms that are targeting and competing for your target clients Positioning Think about how you want to position your firm in the market — what will be your unique selling point or competitive edge? How will you make money? What channels will you use to promote your firm?
R Business Vision You can bet the legal industry is going to look different in the next few years. To survive, your firm must have a strong and focused vision for the future.
This section is where you can summarize what your firm hopes to achieve in the next one, three and five years. Nailing down the specifics helps you stay organized and focused on the path in front of you. No purchase necessary. Valid only in the U. But, consistently generating new sources of referrals takes time and effort. While many firms focus on expanding their network to increase the potential pool of referrals, staying top-of-mind with people already in your network should not be overlooked.
A colleague may have a case to refer your way, but if you are not in touch every so often, you might slip their mind. So, setting a regular rhythm to reaching out to colleagues, going to dinners, etc. One tool we recommend to help stay top-of-mind is Contactually , a helpful CRM. So much of the other components of marketing plan, like SEO, PPC and email marketing which will cover shortly , tie back to your website. Even if your law firm marketing plan is modest and most or all of your new business comes from referrals, you need a polished, modern website.
Content The cornerstone of any web-based law firm marketing campaign should be content. Your law firm marketing plan should include generating an ongoing stream of content that will be useful to others. Content is useful for for a variety of marketing goals including: Generating more website traffic via SEO Building and engaging with a social media audience Staying top-of-mind with referrals via email newsletters and social sharing of content You should generate and publish content in a variety of mediums that talk about the practice areas you excel in.
Often potential clients read your blogs and your whitepapers before they call you or before they realize that they should call you , and great content does wonders for credibility. Your prospective client will be well along the way of hiring you before they even pick up the phone. Two: Content marketing is an effective way to generate new business. You may ask: What format is best for my content? A blog on your website will serve as the bedrock of your content marketing strategy.
Blogs are easy to write and publish and instantly available to the world on the Internet. Get into the habit of publishing a blog weekly ideally , or a few times a month at a minimum. Once you get into a regular habit of writing, its starts to come easily. What to write about?
As always: Write about what you know.
Check out our blog post on this very subject. The cost of content creation should be split into two parts: The cost of copywriting. After all, with your eyes on the business management fundamentals of your firm, things should be looking up for the future. One good way to do this is to work with a designer to artfully format your plan. Your listeners will expect and look forward to it.
Financials Last but certainly not least comes the Financials section. Use demographics such as location, age, family status, occupation and more. The downside of PPC advertising is that it costs money. Pro Tip: Do you want more practical advice on email marketing for lawyers?
Beyond every reasonable doubt, being a lawyer can be extremely challenging and demanding, but at the same time, it can also be quite rewarding. By capturing prospective clients in your email database, you can nurture them.
It should also include the following: Mission statement. For a law practice, the goal of SEO is for your web pages and blog posts to show at or near the top of any relevant search. It should clearly state your value and offer inspiration and guidance, while being plausible and specific enough to ensure relevancy. This is known as your unique selling proposition USP. And, it is more than simply writing and publishing blogs every week. This statement should be one or two sentences at most, so you can quickly state it off the top of your head at any given moment.
Although a large percentage of lawyers work for big, corporate law firms, but there are still many lawyers who are employed at mid-sized regional firms and even in one- man and two-person law firms. Start with regular blogs. It also defines the roles of any staff members or outsourced support help you will need. How did the Facebook campaign that you ran in March perform? What are your goals?
A video that is helpful to your audience can help generate new leads. Here are the key pieces of information to incorporate: Firm Overview A brief overview of your law firm sentences Services A short description of your services and the problems you solve for your clients Goals Your goals for the firm — where would you like to be in 1 year? PPC ads? This recent trend is responsible for creating job opportunities for lawyers with expertise in international relations and cross-border transactions et al.
Provide specific data on how much your target audience has to spend. Geographic location and areas served. It is certain that, before putting any money down, whether it be on an item or service, most consumers look at reviews and testimonials.
You can start sending emails for free. Provide specific data on how much your target audience has to spend. SEO is the deliberate process of making your content found by google and, hopefully, showing up as far up the list on a search page as possible. By capturing prospective clients in your email database, you can nurture them. If you are like every other attorney out there, how will you stand out?
But, consistently generating new sources of referrals takes time and effort. Also, think about your pricing and the average revenue you expect to earn for each case or client. This truth can obscure the need for lawyers to pay attention to the business management side of their practices: their finances, marketing plans, business development efforts, IT purchases, lease terms and capital needs. It is imperative that you complete this section even if you are not seeking funding, however, as you need to paint a clear financial picture before opening your doors.