11 Strategies that can Boost Your Revenue

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Smart Legal Marketing Strategies can Lead to BIG Pay Offs

Is business slow?

raising graphHas your firm’s revenue waned?

If the answer is yes, then it may be time to get serious about legal marketing.

Law marketing is a crucial part of running a successful legal practice. Ignore it, and you run the risk of bringing down your firm like a sinking ship.

Henry Harlow, author of Law Marketing – How to Increase Your Revenue by an Average of 27%, offers these legal marketing strategies that will not only keep your firm running smoothly, they’ll also help BOOST CASH FLOW.

  • Raise client fees initially by 5%.
  • Record ALL billable hours as they happen. Don’t wait until the end of the day, week, or month to calculate your time. This tactic alone can help you increase revenue by up to 20%.
  • Bill for legal assistants. Just like any good entrepreneur, you need to leverage yourself on the work of others – and charge your clients for it.
  • Hold your team accountable for billable hours. Start small, requiring 20 hours of billable time, and then step it up to 30 hours per week. Figure out a bonus incentive plan to keep the team on track.
  • Keep timekeepers focused. Timekeeping staff (secretaries and receptionists) should focus on billable time, not non-billable work.
  • Identify top revenue-producing practice areas. Good marketing for lawyers should focus on two or three money-making practice areas.
  • Be picky. Stop taking C & D clients and get A & B client files moving faster. Down the road, good referrals will come in with word of mouth from those happy A & B clients.
  • Build valuable relationships. Begin a relationship with valuable referral sources that will bring in more business by sending A & B clients your way.
  • Get a handle on time management. This will allow you and your team to get in more billable hours during the work day.
  • Ask clients for referrals. Don’t be afraid to ask clients for referrals multiple times and in systematic ways. You can also ask clients to introduce you to other influencers they know.
  • Send direct mail. Reach out to your colleagues on a regular basis. Regular mailings or newsletters are a great way to drum up potential referrals.

Legal marketing success won't happen overnight.

But, with a little persistence and forethought, you may see a big pay off down the road.

 

 


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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