Find the Pain Point to Trigger a Buying Decision in Law Firm Business Development

by ON24
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ON24

Recently I have been articulating the steps needed to implement an effective lead management process using your firm's content. I’ve already defined Marketing Qualified Leads as the people who are ready to move from marketing to business development, and I have discussed how to identify them. 

I've also shared my ideas about outreach to those qualified leads. So what next once your MQL interacts with you? Time for a victory meme? 

Not quite. This is actually where a lot of lawyers and support teams get stuck. Unfortunately, moving too slowly can stall your lead in the sales funnel. You need a next step. 

Finding the pain point – or triggering event – is what turns a prospect into a client. 

We understand an ounce of prevention is better than a pound of cure, but pitching prevention or risk management doesn’t create much urgency. It doesn’t create a pain point where a client needs a lawyer right now. Here are a few ways you can determine pain points and trigger a buying decision.  

1. Look backwards

Start with some existing clients and review how they came to you. Did they participate in a webinar, ask questions, make contact, have an initial consultation, and ask for a proposal? Reviewing and mapping their journeys will help you uncover where the pain points came up and how your content interacted with a qualified lead that did become a client. This data can also help validate your assumptions about what works or motivate you in another direction if the data shows that a different path was more productive. 

2. Tell stories

Use your experience to describe a transaction or litigation you have been through with a client and how the counsel you provided created value to the company. When they see themselves in your story, prospects begin to consider how they should prepare for such a circumstance and whether they might need advice on these issues. Attraction is better than pursuit. A compelling narrative conveys your expertise with authenticity by focusing attention on a legal solution you provided. 

3. Highlight enforcement trends 

There are plenty of reports in the news these days of changes in enforcement of various laws and regulations, of increased prosecutions and higher fines. Fear is a strong motivator. Describe what businesses can learn from those caught up in increased enforcement and how they can proactively prepare for the possibility that their business experiences a similar action. 

“The CMO of today figures out how to sell a company’s products to customers. The CMO of tomorrow develops the products the customers need.”

4. Package a solution

I heard a speaker at a conference a few years ago say, “The CMO of today figures out how to sell a company’s products to customers. The CMO of tomorrow develops the products the customers need.” Business development staff can help determine the components and price of a proactive legal solutions offering that meets a particular need for a certain type of client. The package and the price can in itself trigger a buying decision. 

You can’t pinpoint exactly when your next piece of work will come in, but by determining pain points and triggering buying decisions, you can increase the prospect of new business. 

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[Samantha McKenna is a Regional Vice President, Sales at ON24Connect with her LinkedIn to learn how webinars can supercharge your firm's content efforts.]

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