Sell It to Me Straight: Where to Put Your Marketing Resources Now

July 21, 2009
In addition to cutting their marketing budgets, many firms are redirecting general marketing resources to more focused client development. While it makes sense to reach out to current and prospective clients, if you don’t have a powerful marketing message—which clearly distinguishes you from other service providers—you could end up wasting time and resources. In an article I recently wrote, I argue that the most effective form of marketing in today’s climate is personal marketing—which focuses on the professionals at a firm who have the strongest ability to bring in business.

 

Where to Put Your Marketing Resources Now

Perhaps unsurprisingly, when profits dip and money is tight, firms are loathe to spend resources on marketing. In addition to cutting their marketing budgets, many firms are redirecting general marketing resources to more focused client development.

While it makes all the sense in the world to reach out to current and prospective clients, if you don’t have a powerful marketing message—which clearly distinguishes you from other service providers—you could end up wasting precious time and resources.

 

In an article I recently wrote (which has run in Philadelphia’s The Legal Intelligencer, the New Jersey Law Journal and on law.com’s Career Center, http://www.law.com/jsp/law/careercenter/lawArticleCareerCenter.jsp?id=1202431231817&rss=careercenter), I argue that the most effective form of marketing in today’s climate is personal marketing—which focuses on the professionals at a firm who have the strongest ability to bring in business.

 

For example, in the legal arena, corporate clients are parsing their legal budgets like never before, yet some of the highest-priced lawyers around are busier than ever. Those in demand have distinguished themselves as vital in today’s climate: regulatory, bankruptcy and litigation superstars.

 

At the same time, because clients are looking to cut costs, lawyers who may be less well-known but have distinguishing experience may find now an opportune time to showcase that experience. By putting in a little legwork to elevate their reputation, they may capture work from clients looking to reduce costs without sacrificing quality.

 

To get the most mileage out of both of these trends, firms should push personal marketing—even as they cut firm-wide marketing efforts.

 

Clients Hire Lawyers

 

We’ve heard it before: clients don’t hire law firms, they hire lawyers. This is true now more than ever.

 

Exhibit A: A Washington, D.C. FDA lawyer is known as one of the best in his field—and his hourly rates reflect as much. With health care booming, his practice hasn’t felt a blip. He hardly has time to market himself—but someone should be marketing his firm’s FDA practice, featuring him front and center.

 

Exhibit B: An Am Law 100 firm loses an important, but not super high-stakes litigation matter to a regional firm with lower rates. The client explains that much as they’d like to win the motion involved, they can’t pay Am Law 100 rates and are willing to take a chance with the group from the lesser-known firm. The latter wins the motion, and with it, bragging rights.

 

The bottom line: Firms are likely to discover that in these challenging times, the best bang for their buck comes from pushing practice development.

 

What are the best ways for professionals to distinguish themselves? I recommend boiling the process down to four basic steps:

 

1)       Identify your target audience

2)       Develop a key message that meets the needs of your audience

3)       Prioritize and link marketing efforts

4)       Talk to your clients

 

To get off the ground, a marketing plan must be designed to deliver maximum results with a minimum investment of a professional’s time. Read more at http://www.dodd-marketing.com/pdfs/distinguish_yourself.pdf. 

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DMC Closing Its Doors
October 01, 2009
DMC has closed its doors to make way for new career opportunities. For transition assistance, please contact us through the Contact page.

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Sell It to Me Straight: Where to Put Your Marketing Resources Now
July 21, 2009
In addition to cutting their marketing budgets, many firms are redirecting general marketing resources to more focused client development. While it makes sense to reach out to current and prospective clients, if you don’t have a powerful marketing message—which clearly distinguishes you from other service providers—you could end up wasting time and resources. In an article I recently wrote, I argue that the most effective form of marketing in today’s climate is personal marketing—which focuses on the professionals at a firm who have the strongest ability to bring in business.

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Sell It to Me Straight: About the Blog & Author
March 31, 2009 By Ritchenya Dodd - Dodd Marketing Communications
'Sell It to Me Straight' is written by Ritchenya A. Dodd, principal of Dodd Marketing Communications. Ritchenya is a lawyer and award-winning former journalist.

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