Law Firm Business Development Is Crucial To Your Firms Success
If marketing is the shotgun approach to communicating your brand to the market
, law firm business development is the surgical strike. In general marketing, you create an overall message which you convey to the market at large. Business development, however, is more strategic and involves targeted one-on-one outreach. The goal is to build strong relationships with both clients and prospects, which depends on developing a thorough understanding of their needs. This relationship building could take multiple forms, anything from a timely response to a request for a proposal to an onsite presentation of new privacy legislation.Call it old school, but the first and most effective tactic that lawyers use to build their business is to perform outstanding work for their clients. This creates loyalty and entices repeat business. However, in light of the increasingly competitive law market, you can no longer just do great work. To ensure your future success, you must also incorporate a carefully devised law firm marketing and business development strategy.
In recent years, the industry has shifted away from paying substantial sums to have a logo imprinted on a screen or other similar advertising. The latest trend is to employ much more focused strategies. An example would be to invest marketing dollars in getting a useful article published that showcases your professionals expertise.
Experts foresee increased collaboration, as law firm business development and marketing staff work very closely with business units, major clients, industry groups and relevant practice groups. The fundamentals of marketing have not changed, but the economic climate certainly has. Marketing campaigns refined by effective law firm business development are the norm of the day.
A number of law firms have also invested in human resources by staffing an attorney whose sole function is business development and sales. Some savvy firms have taken this one step further and have unlocked the selling potential of all their lawyers by creating firm-wide cultures of business development. This approach can only be effective when the true value of your firm is clear in the market and well supported by the excellent performance of your legal team.
Equip your attorneys with a top-notch law firm marketing and public relations company like Berbay Corp. to ensure that your integrated marketing, public relations and business development plans are brilliantly executed. For more information, visit berbay.com.
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