Monday, January 21, 2013

What Goes into a Law Firm Marketing Plan?


We are often asked by clients and prospects to develop a legal marketing plan on their behalf. This is always an intriguing proposition because what some view as perhaps a two-page outline of the promotional activities to be pursued, a true marketing plan offers something far greater. Such plans provide a more detailed picture of where the firm stands, its goals, and how it plans to achieve them.

A full-fledged marketing document should address the following areas:

Background 
  • Firm History 
  • The Services it Provides 
  • The Geography it Serves 
  • The Types of Clients it Serves
    • Businesses vs. General Public vs. Government Entities
    • Age, Income and Gender Demographics
    • Psychographic Profiles
    • Attorney Billing Rates 
  • Firm Reputation
  • Firm Strengths
  • Firm Weaknesses
  • Results of Marketing efforts to Date 

Industry Overview
  • General Trends
  • Seasonality
  • Client Development Cycle (from awareness through initial consult and retainment)
  • Attorney Billing Rates
  • Competitive Framework 
    • Competitor Descriptions (e.g., size, number of attorneys, strengths, weaknesses, etc.)
    • Competitor Reputations and Positionings
    • Analysis of Competitive Communications (e.g., ads, web site, brochures, etc.) 

Objectives & Strategies
  • Vision/Mission Statement
  • Long-Term Goals & Rationale (e.g., increase revenue to $XXX to support partner payouts of $XXX)
  • Long-Term Strategies (e.g., generate greater awareness of the firm among a particular business or consumer segment)
  • Short-Term Goals (e.g., Obtain $XXX in revenue in the upcoming fiscal year)
  • Short-Term Strategies (e.g., Implement social media campaign, broaden geographical target, add new practice area, etc. 
2013 Strategic Plan
  • Improvements to Firm Services
  • Billing Rates
  • Promotional Program
    • Objectives
    • Budget & Rationale
    • Target Market
    • Target Audience(s)
    • Marketing Mix/Budget Allocation 
      • Activity A (e.g., development of new web site)
      • Activity B (e.g., PR campaign) 
      • Activity C (e.g., social media effort)
    • Creative Development 
      • Positioning of the Firm 
      • Benefits the firm provides (particularly vs. competitors) 
      • Substantiation for Benefits
      • Communications Hurdles 
Opportunities & Red Flags
  • Indicators of Success (i.e., milestone to be achieved/interim metrics)
  • Plan Assumptions 
  • Firm Strengths as Related to the Marketing Plan
  • Firm Weaknesses and Red Flags as Related to the Marketing Plan (i.e., firm may or may not be able to effectively implement activity A for such and such a reason)
Implementation
  • Plan Flowchart & Timetable 
While a full-fledged marketing document such as this may not be realistic or feasible to implement on an annual basis, we have seen it be an extremely worthwhile exercise for law firms undergoing a transition, requiring a new direction or seeking to tap into new growth areas.

5 comments:

Cameron Wieght said...

Excellent information sharing, Such as plans provide a more detailed picture of where the firm stands, its goals and san diego law firms plan. thanks you.

Auto Accident Attorney said...

I just read through the entire article of yours and it was quite good. This is a great article thanks for sharing this informative information.

Auto Accident Attorney

Injury Attorney St George said...

Interesting blog. It would be great if you can provide more details about it. Thank you.

Injury Attorney St George

Les Altenberg said...

Thanks for your comment regarding my blog. Much appreciated.

in a blog post it would be tough to go into too much detail regarding all that goes into a marketing plan, but if you have a specific question or questions, I'd be happy to answer. Just let me know.

Brielle Franklin said...

This is great information. I have been doing research on law firm internet marketing for my law class. Thanks so much for this very useful information, it will really help me out with my paper.

Post a Comment