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3 Ways for Law Firms to Boost their Bottom-line Using Public Relations
Posted: May 5th, 2009
By: Paramjit Mahli
Category: Law Firms, Marketing Tips
Back in the old days, law firms were built on “old-boy networks” and schmoozing over cocktails at the golf course. But those methods are no longer in Vogue in the 21st century. Instead despite firms closing and laying off attorneys daily, there are firms who are seizing the marketing opportunities available to them. These firms are discussing about profile building, and brand equity rather than gin and tonic. They understand differentiating yourself/law firm is very important. Differentiation helps not only with bringing in new clients BUT helps with attracting and retaining good staff.
A proactive solid public relations plan helps in the process of differentiation and is a MUST for law firm business development strategy, regardless of size. Getting quoted in news stories, both in targeted industry publications and mainstream media, is one of the most cost-effective ways of securing exposure. A good public relations plan serves several purposes: it builds reputation and visibility, allows firms, practice areas and solo practitioners to become known, liked and trusted in their target market, and finally—and most importantly— helps to bring more business.
The three common ways to increase visibility are getting published, writing and getting quoted by the press.
Getting articles published in trade publications, magazines and newspapers have long been considered important benchmarks for building reputation as thought leaders and experts in a specific market for all businesses. It works very well for lawyers who don’t like the limelight but still need to get the word out about their firm or practice.
If you are doing your own marketing and public relations, then follow the guidelines below:
1. Come up with a couple of ideas that will be of interest to YOUR reader not you. Remember its all about your reader not you.
2. Identify a couple of publications your target market reads.
3. Review at least a couple of issues, before approaching the editor.
4. Approach the editor.
Like it or not, speaking engagements are a very important component of a public relations plan of any law firm intent on growth. Whether you fear public speaking, or your workload leaves little free time, it is important to find a way to make room for speaking.
Well-known marketers such as Dan Kennedy and countless others agree that speaking engagements are one of the fastest ways to get new clients. Firms need to expose their areas of expertise to prospective clients.
By speaking at conferences and forums put together by professional and industry trade groups, lawyers can increase their firm’s visibility and consequently its prospects for attracting new business. What speaking does is give the speaker special status, thus making it easier for speakers to meet prospects. Attendees expect speakers to reach out to the audience, in turn they give speakers respect and credibility.
Finally, consider becoming a resource for the press and getting quoted in press. We all have a love/hate relationship with the press. Yet survey after survey has shown that we the public pay far more attention to experts that are quoted than advertising that often supplements content. Take a quick inventory, when was the last time a reporter called the firm? When was the firm/partner/lawyer quoted last? Do you have an online newsroom that has you bio with subject areas that you can talk to the press about?
Becoming known as an expert in one or more areas is only part of the equation; the other part is leveraging these opportunities successfully into other marketing activities. Articles, columns and/or bylines written by attorneys can be sent to prospects, strategic alliances and clients with the view of providing value, rather than circulating them with the intent of getting the attorney known. All published or sourced works can be included in newsletters and e-zines. They can be used as a basis for a speech or presentation to your target audience. And they should be added to your Web site.
Given today’s economic climate where every dollar spent is reviewed twice before spending is approved it is absolutely imperative to recognize and understand that building credibility and visibility does not happen overnight and rarely does it reap immediate results. It may take a nanosecond to destroy a reputation, but to build one takes work, effort and commitment from all the decision makers in the firm. However, with a sustained campaign working in conjunction with other marketing activities, public relations will reap huge dividends.
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