Secrets to Finding and Retaining Clients
78 percent of lawyers say their greatest challenge is acquiring new clients.
Is your law firm’s business development lacking? Whether too focused on looming deadlines or uncertain of the best development approach for their area of law, many law firms do not focus enough energy on building profitable business relationships. This leaves many law firms scrambling for business when they have no work, and leaving money on the table when they are overwhelmed.
An effective business development strategy can provide a consistent client work pipeline throughout the year.
Join Joshua Lenon, Clio’s lawyer in residence, as he explores the best practices for law firm business development. In this one-hour presentation, you’ll learn:
- Which activities drive client relationships
- How to track your business development efforts
- How to calculate return on investment for paid marketing
- Why focusing solely on new clients may be hurting your law firm’s bottom line
3. #ClioWeb
Agenda
• Activities drive client relationships (10 minutes)
• Track business development (10 minutes)
• Return on investment for paid marketing (10
minutes)
• New clients may hurt your law firm (10 minutes)
• Questions (10 minutes)
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Challenges Faced in Business Development
33%
35%
46%
52%
0% 10% 20% 30% 40% 50% 60%
Lawyer Participation
Too Many Opportunities
Competition
Pricing
Source: Law Firms in Transition: Marketing, Business
Development and the Quest for Growth, 3/2016
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Relationship Builders
• Brings Together National Resources
• Unprompted Communication
• Regional Reputation
• Helps Advise on Business Issues
• Breadth of Services
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Tracking Business Development
24%
29%
38%
37%
44%
64%
82%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
EFFECT OF NUTURING
ROI OF LEAD SOURCE
NUMBER OF LEADS
LEAD SOURCE
INDIVIDUAL ATTORNEY GOAL
GOALS BY PRACTICE
WIN/LOSS
Source: Law Firms in Transition: Marketing, Business
Development and the Quest for Growth, 3/2016
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2 Types of Business Development Activities
1. Traditional
Networking
2. Online promotion
How Clients Find Lawyers in 2015
• Relationships - 36.6%
• Web - 16.5%
• Offline Advertising – 5.6%
• Hired Same Lawyer Again -
2.4%
Source: How lawyers get found in 2015,
Avvo.com, 9/10/2015
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Traditional Networking Activities
1. Be a Referral Source
2. Public Speaking
3. Community Development
4. Build a Marketing Culture
Inspiration: The Business Guide to Law, Kerry
Lavelle
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Online Promotion
Over 80% of buyers of professional services go
to your website to evaluate your capabilities,
regardless of how they may have heard of you.
Source: ICXLegal.com
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6 Areas of Online Promotion
1. Blogging
2. LinkedIn
3. Effective websites
4. E-alerts
5. Online rankings
6. Ratings directories
Source: 2014 Alyn-Weiss National Marketing
Effectiveness Survey
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Traditional Tracking
• Ask each new client where they found your
firm
• Delve into responses
–Where did you FIRST hear about our firm?
–Did you ask anyone about our firm?
–Did you visit the firm website before contacting us?
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Track Client Intake Details
CLIENT REFERRAL SOURCES
2016 January February March April TOTALS:
Realtor referral 3 1
Accountant
referral
4
Walk In
Avvo 1 1 1 1
Website /
Internet
2 1 1
TOTALS:
Inspiration: The Business Guide to Law, Kerry
Lavelle
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Track Client Intake Details
MARKETING ACTIVITES
2016 January February March April TOTALS:
Chamber of
Commerce Events
Linkedin /Posts
E-blasts
Google Ads
Website / Internet
Updates
TOTALS:
Inspiration: The Business Guide to Law, Kerry
Lavelle
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INDIVIDUAL ATTORNEY MARKETING CHECKLIST
TOP CLIENTS
Name/Company Contact Date Description
TOP REFERRAL SOURCES
Name/Company Contact Date Description
MARKETING ACTIVITIES
Date Advertising
Type
Media Possible
Business
Date Follow-up
Step
Results
Source: The Business Guide to Law, Kerry Lavelle
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Legal Advertising is Still Expensive
-15%
-10%
-5%
0%
5%
10%
15%
20%
2008 2009 2010 2011 2012 2013 2014 2015
Year Over Year TV Ad Spend Growth
Legal
Other
Source: Trial Lawyer Marketing: Broadcast,
Search, & Social Strategies 10/15
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TV Ad spending go
Source: Trial Lawyer Marketing: Broadcast,
Search, & Social Strategies 10/15
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Top Ten Google Keywords & Cost
Keyword Cost Per Click
San Antonio car wreck attorney $670
Accident attorney Riverside CA $626
Personal injury attorney Colorado $553 $553
Motorcycle accident attorney Los Angeles $551
Top personal injury attorneys $551
Structured settlements $539
Car accident Orange County $507
Austin drug rehab $463
Orange County accident lawyer $450
West Palm Beach criminal lawyer $435
Source: Trial Lawyer Marketing: Broadcast,
Search, & Social Strategies 10/15
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Rule of Thumb
Law firms should spend
2-5% of annual revenue on
marketing & business development
Source: Ed Poll, consultant and owner of
LawBiz.com
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Yes, there’s math.
Desired Annual Billings X 3.7% =
Your Annual Marketing Budget.
Source: Dustin Ruge, How Much Should My Law
Firm Spend on Marketing? 2/19/15
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My firm can determine ROI
on business development
5%
37%
21%
31%
5%
0% 5% 10% 15% 20% 25% 30% 35% 40%
STRONGLY DISAGREE
DISAGREE
UNSURE
AGREE
STRONGLY AGREE
Source: Law Firms in Transition: Marketing, Business
Development and the Quest for Growth, 3/2016
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Why focus on client service?
Firms performing at best-in-class levels of service
enjoy:
• 30% higher profits
• 7% rate premiums across all staffing levels
• Double the fees from a single client
• 35% higher client retention
Source: BTI Consulting
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Client Service Factors
• Transparency of price and fees
• Ease of communication
• Ability to track the status of the onboarding process
Source: McKinsey, “Four Pillars of Distinctive Customer
Journeys,” 10/10/2016
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Digital First
Digital-first journeys led to higher customer-
satisfaction scores, generating 10 to 20% more
satisfaction than traditional journeys.
Source: McKinsey, “Four Pillars of Distinctive Customer
Journeys,” 10/10/2016