Empower your legal services business with airSlate SignNow for planning sales

How to create outlook signature

are you ready for a great legal marketing strategy i've got it for you today great legal marketing strategy and you're gonna get it right here let me share my screen with you and we're going to talk about how you can implement this strategy to get more clients faster alright welcome everyone to my session on my great legal marketing strategy this is titled how to build a great legal marketing strategy and today what i'm taking you through is my revenue roadmap this is a special system for attorneys to use to grow their practice if you've got a book of business and you want to grow it you're going to love this great legal marketing strategy so let me give you kind of an overview of the different types of revenue that are available to lawyers in law firms first and foremost there's ad hoc revenue this is what you're used to this is what everybody in the legal profession is chasing you go out you find a client you do the work for the client you finish your work with your client and then you move on and the client moves on never to have interaction ever again that's a terrible way to run a business but that's the way everybody runs their law firm that's what passes these days as a great legal marketing strategy somebody who helps you get a dozen or two dozen ad hoc clients every year and tells you that it's a great legal marketing strategy is not your friend they're actually doing you a disservice there are three other types of revenue that you should be focused on bringing into your law firm there are three types of revenue you should bring into your book of business your law firm marketing should source these three types of revenue the first is repeat revenue so this is the same client but new work so let's say you're a an intellectual property attorney and your client is a 30 million dollar business they have lots of trademarks lots of intellectual property that they license out you finished your last trademark for your client and you just answered an office action you feel pretty good that it's going going to be approved they have a dozen other marks you turn to your client and you say mr client you know candidly you should separate your intellectual property from the rest of your business you should probably put your intellectual property into a holding company and it would be ideal if that holding company were owned by a trust this way your intellectual property is insulated from everything else that you do and the client agrees and they think it's a good strategy because if there's ever any litigation no one can touch the intellectual property it's an asset protection strategy so you say to the client mr client here's what i can do i can set up that entity for you and i can create the trust because i also do trust and estates work this is the same client but it's new work they've never seen you do that work before so they need to invest some new trust in you but they trust you generally and they trust your skills as a lawyer so that would be repeat revenue recurring revenue would be if you the intellectual property attorney did a trademark and then the client brought you another trademark they've already seen you do that work it's the same client and the same work over and over again there's a very low trust barrier because they've already seen you do the work and they already trust you so that's recurring revenue the third type of revenue that i want you to focus on instead of ad hoc revenue is what i call passive revenue you can also refer to this as indirect revenue these are referrals and they're referrals that come from evangelists or referrals that come from thought leadership now i need to give you a definition of both of those terms so an evangelist is someone who's never used your services but they refer you all the time because they know you they like you and they trust you in the case of the intellectual property attorney if i've never used the intellectual property attorney but i send that person to one of my clients to do work for him i trust him and that trust is passed through and i'm considered an evangelist for the intellectual property attorney thought leadership is when you write or you speak you have articles that are published you are the facilitator of a community and you're demonstrating your skill your knowledge your experience and your talent to an audience and they decide they're going to work with you you're not out soliciting the individual audience members you're publishing an article and somebody reads the article and they call you up you weren't expecting it so that's passive revenue that comes from thought leadership these three types of revenue on the right side repeat recurring and passive revenue those fall under the umbrella of relationship revenue we call those three types of revenue relationship revenue because it requires a deep relationship in order to get those types of revenue ad hoc revenue is simply one-off client work that's what everybody's chasing and what you should be focused on developing is repeat recurring and passive revenue and my great legal marketing strategy my revenue roadmap is going to help you source relationship revenue now to reiterate ad hoc revenue is high acquisition intensity it's really hard to attract it it's low lifetime value and low personal leverage you got to do all the work yourself you got to go out and do all the work to find people yourself the ad hoc revenue the client comes and goes there's no lifetime value repeat revenue medium acquisition intensity because they already know you like you and trust you they just haven't seen you do the second matter yet there's medium value to it and it's hard to predict what the lifetime value will be because the first matter might have been a one-off and now the repeat matter is a one-off so you got to move them up the ladder a little bit but it's still more valuable than ad hoc revenue and there's medium personal leverage because even though you could potentially turn this matter over to someone else you're still going to need to be involved they're still going to need to have you involved in the process recurring revenue is low acquisition intensity they'll know you like you and trust you they're going to do business with you over and over again until you screw up or until somebody passes away there's high lifetime value it's easy to predict because if they've got five deals this month you're gonna get them because they know you like you and trust you and there's high personal leverage you can train other people you can have associates do recurring revenue work and you can monitor it but you don't need to be involved in the day-to-day passive revenue is the best because it's low acquisition intensity you're giving a speech to a hundred people and five of them become your clients you're writing an article that thousands of people are going to see and they keep calling you month after month you're managing some sort of a community and as new people come into the community they get to know you like you and trust you and they want to do business with you there's high lifetime value maximum personal leverage there so what is the process that most attorneys have these days in order to get new clients well here's what your legal marketing strategy is this is your law firm marketing plan right now most likely a random person finds you they call you on the phone they come in for a consultation or they meet you for a consultation and you end up doing business this is not a replicable law firm marketing plan this is not a good legal marketing strategy i'm going to share with you a replicable law firm marketing plan that's going to deliver relationship revenue to you i call this a revenue road map it is a step-by-step guide to helping you develop relationship revenue the first step in my revenue roadmap is to identify the ideal target now this could be a client or it could be an evangelist if you know who your ideal client is in the case of the intellectual property attorney we can find out who our ideal client is and we can target them in mass if you're in a business to consumer practice we don't know who your ideal client is going to be let's say you're a family law attorney you're a divorce lawyer you don't know who's going to get divorced half of the population is going to get divorced you just don't know who that half is well if you can identify your evangelists the people who refer your business you'll be better off you can target them in a group setting so the first step is to identify your ideal target client or your ideal target evangelist the next step is to engage them in this part of the process we call these people suspects you're going to round up the suspects and how are you going to do that you're going to look for groups or associations they belong to you're going to look for websites where they get all their industry or community information and you're going to look for publications that they read you're going to look for things that keep them abreast of what's happening in the industry then you're going to make those people in those groups a free offer you're going to offer them something of value in order to demonstrate their interest in who you are and what you have to say this could be a free report like a white paper it could be a course it could be membership in a community that you've created when they take you up on the free offer you're going to qualify them which means you're going to determine if they're a good fit for you and if they're ready to do business with you if they're not ready to do business with you but they could be a good fit down the road you're going to put them into a database and you're going to communicate with them in mass all the people who you suspect might be good clients for you in the future you're going to continue to communicate with them and nurture them their prospects now because they've expressed an interest in who you are and what you do you're going to nurture them by communicating with them frequently every time you communicate or at least every couple of weeks you're going to make an offer and that offer could be a product or a service we call that a gateway offer you're going to offer a gateway product or service this is a product that has low barriers to entry the financial investment is not too steep the level of trust they have to invest in you in order to do business with you for this gateway product or service is relatively low and it gives you the opportunity to showcase your brilliance when they take you up on that offer you're going to onboard them this is a very detailed interview process that allows you to gain intimate knowledge of the client's approach to their life and to their business this is where you will discover other areas of opportunity for you to help your client this is what we're doing we're helping our clients in exchange for financial compensation and the onboarding process reveals other opportunities for us to help our clients and that will lead to secondary products or services the two points that most people miss in this entire revenue roadmap process are the qualifying and the onboarding elements these are areas that i can demonstrate deep knowledge and understanding to you and you can learn from that grow from that and source relationship revenue for the long term and that's repeat recurring and passive revenue relationship revenue is what we're after briefly identifying your ideal target client means you need to be able to answer these questions who provides you with the best return on investment what type of client offers you the best return on your investment of your time and your investment of your marketing dollars remember this is a great legal marketing strategy this is your law firm marketing plan so you have to get a return on your investment what type of client provides you with your best return on investment how do your best clients or evangelists find you does your best client find you through articles that you've written through watching you speak through videos you do on youtube you need to be able to answer that question in order to find more people just like them what is your average client lifetime value or what is the lifetime value of an evangelist certainly an evangelist who refers you three pieces of business is more valuable than an evangelist who just refers you one a client who works with you year in and year out on recurring matters that client is more valuable than an ad hoc client who just uses you one time what is your cost per lead how much does it cost you to find a new lead even more importantly how much does it cost you to acquire a new client these are all questions you need to be able to answer if you hope to develop a great legal marketing strategy if you hope to develop a powerful law firm marketing plan the second step is engaging suspects so how do you reach your ideal clients or your ideal evangelists in groups how do you reach these suspects well first you need to understand what groups they belong to what industry trade associations they belong to where do they go to stay up with industry and stay up on industry information what groups do they join to keep them sharp where do they read their industry or community news where do they find out what's the latest in their industry how do they determine what's new and exciting who else sells to them when you figure this out you can develop a strategic alliance partnership this is a critical question to answer what are they worried about what are they most concerned about how can you connect with them at a visceral level and what frustrates them what are they really frustrated about and how can you help take that frustration away the way i help my clients determine how they can engage their ideal clients is we review all the media that they use and we're looking for efficacy and efficiency we look at the media that they've decided to use to target their ideal client and we determine if it's really hitting the perfect client and the perfect evangelist and then we evaluate and adjust we test things over and over again and we review them constantly the next step in the revenue roadmap process is to make a free offer you need to make an offer to everyone who comes in contact with you to determine who's a serious prospect who's a serious evangelist or who's just perhaps shopping around now what does this mean well i call this a honey pot and it can be a report it can be an educational course that's delivered via video or it could be a consultation which ends up being essentially a sales call i know you're an attorney you hate the word sales but a free consultation is a sales call it's an opportunity for you to convert that prospect into a client so make the free offer to your targeted prospect and see if they take you up on the report the educational course or the consultation what type of info do you need to know in order to develop this free offer is your prospect your ideal client do they watch educational videos if so what topics are they concerned about well they read a white paper if so what problem will your white paper solve are they interested in a consultation if they are interested in a consultation what information do they need in order to hire you and this is the time in our session together where i'm going to offer you something for free if you'd like my guide to developing your own revenue roadmap go to this website revenuerroadmapguide.com that's revenuerroadmapguide.com go to that website right now enter your contact name and your information your email address your phone number you'll instantly be able to download a guide to this exact process this is a great legal marketing strategy and you can implement it on your own just download the revenue roadmap guide at revenueroadmapguide.com all right the next step is to qualify these folks to determine if they're a good fit and how do you do that well you need to make sure that they have a problem you can solve you need to make sure they're the decision maker you need to make sure that they have time and money to invest in you and you need to make sure they have urgency you need to make sure they're willing and able to work with you right now if they have a problem you can solve the decision maker and they have time and money but they don't have urgency you must build it over time and what that means is you need to nurture them and nurturing is done through frequency of communication now my preference is that you communicate with people weekly and monthly and you also enroll them in some type of a community facebook has great tools and great utility for establishing a free community they will give your posts to your community members a preference so if you enroll people in a community on facebook you can bombard them with educational videos and articles and infographics and motivational quotes and you can go live and do seminars to everyone who's a member of your community that's daily communication you should also send out a monthly print newsletter to everyone in your database so that they open something physical in the mail from you every month and then on a weekly basis you should be sending out a weekly email newsletter to connect and stay in touch with your ideal clients with your ideal prospects with your ideal evangelists the next step is to make an offer to your prospects of an ideal gateway product or service this gateway product or service this offer that you're going to make in email you're going to make it in person you're going to make it over the phone it should be an easy decision it should be a low threshold of commitment it should offer maximum exposure to your expertise and it could be a paid event a study or an assessment one of the best things i have my clients offer is an evaluation of all the legal documents in their company you could charge twenty five hundred dollars for this evaluation and you could tell your ideal prospect listen for twenty five hundred dollars i will review these fifteen different documents and you make a list of the documents and you tell them that you're happy to review it and you'll be willing to disclose any vulnerabilities if there are any in their documents and this creates options for you for additional work you're going to make that gateway offer to your ideal client your ideal prospect while you're nurturing them through your email system through your direct mail newsletter or as part of your community so you have to understand why your ideal clients work with you so what is the ideal initial engagement for you with a client let's see if we can make that your gateway engagement what are you known for what is your brand how do people find you and why do they come to you what's your competitive advantage how do you showcase any additional capability that you have currently and let's see if we can incorporate that into your gateway offering are people willing to engage you immediately after their first interaction with you if they are we need to know that because that's what will build the gateway offering around all right so now on the revenue roadmap we've covered ideal client targeting we've covered engaging your suspects we've covered your free offer we talked about qualifying we talked about nurturing i just showed you the gateway product creation process now we're going to talk about onboarding so the client agrees to work with you and they agree to come on board you're going to do an analysis and interview during your time together with them and this interview is going to get into a great amount of detail about the client's business and their personal life the goal is for you to build a relationship and make lists of vulnerabilities the client currently has in his or her business some of them they may not know about and you're going to prioritize them in your own mind you're helping your client make money you're helping your clients save money and you're helping your client reduce risk the deliverable after the onboarding process is what i call a report of findings and this is a list of all the clients vulnerabilities and the priorities that you think he or she needs to address them in now you don't give this report a findings to your client right when they sit down to work with you at the outset if you did that the client would be intimidated and it would be a terrible process you deliver this report of findings as soon as you're ready to wrap up your first engagement when you're ready to wrap up your first engagement you deliver your report of findings from your onboarding process and that will lead to secondary work qualifying and onboarding is the key to developing relationship revenue this revenue roadmap process is a great legal marketing strategy i want to help you with this so what i'd like you to do now is go to revenue roadmapguide.com revenueroadmapguide.com that's where you can get your own revenue roadmap you can fill out the questions that i have there for you you can answer them and you will have your own great legal marketing strategy this is your law firm marketing plan you can use it for a month you can use it for a year you can use it for 10 years this is what i use with my clients during the work that we do and it works phenomenally well it truly is a great legal marketing strategy the next steps for you get the revenue roadmap guide and complete the assessment i'm going to offer you an opportunity to review it with me if we find there are gaps in your revenue roadmap i'll give you some advice on how you can fill those gaps you need to understand how much money and opportunity you are currently missing out on because you're not using this law firm marketing plan because you're not using this great legal marketing strategy and the question i have for you is why haven't you addressed this in the past if it's just as simple as you just haven't had a format go to revenuerroadmapguide.com right now download your copy of the revenue roadmap guide fill it out and then reach out to me there are a number of ways you can reach out to me and i will review it with you for free and help you improve it and help you stop missing out on the money that you're losing you need to ask yourself what happens if you don't solve this now you could potentially be missing out on thousands and thousands of dollars maybe even millions of dollars when i take my clients from six figures to seven i use this great legal marketing strategy to do it this helps them go from six to seven figures in 12 to 18 months it is powerful if you'd like some help i'm here for for you if you'd like to do it yourself revenuerroadmapguy.com that's where you can download your guide i wish you the best i only want to help you so i'm looking forward to working with you on your revenue roadmap i'll see you in our next video take care you