Corporate law firms are facing challenges like increased competition, technological innovations, and reluctant clients. Here we are presenting some valuable legal marketing tips for corporate lawyers which will help attorneys overcome these hurdles. A common problem being faced by many business attorneys is that many businesses are looking to appoint in-house counsel.
Their motive is to decrease their dependence on external agencies and handle routine legal duties in an economical manner. The picture seems to be bleak but this does not mean that all hope is lost. No matter how advanced technological tools and experienced general counsels are employed, enterprises will always need domain experts.
While law firm internet marketing helps attorneys in finding new clients, they must also indulge in some old-school tricks to engage their audience. Here are a few powerful tips for corporate lawyers to beat the competition and stay relevant to their target audience.
1. Create And Foster A Professional Network
A business requires help in diverse areas and most entrepreneurs hire a variety of professionals to get assistance. What if your firm becomes the nodal point for providing all that help? This will keep your clients engaged with your agency and they will turn to you for solving problems which are not necessarily of a legal nature.
Connect with other professionals in your domain like tax lawyers and IP attorneys. These are just a couple of areas where almost all enterprises need legal help. Moreover, you must also build relationships with chartered accountants and financial consultants.
Creating and fostering such a network will ensure that the other members will recommend your firm to its clients.
2. Nurture Existing Client Relationships
Law firms are looking to expand their user base by constantly searching for new clients. This is not an unacceptable practice. However, it can make you lose focus on your existing clientele. Make sure that you have a plan in place to interact with and engage your current and past users.
Take some time out and remind them that you are eager to partner them in achieving their objectives. Find out about their new plans and exchange notes on how you can play a role in executing them. This will help in not only getting future work from the users but also through referrals made by them.
3. Know Your Client’s Decision-making Process
Entrepreneurs approach everything as they would while making a business decision and hiring an attorney is no different. One of the most effective legal marketing tips for corporate lawyers is to get an idea of your potential client’s decision-making process.
Corporations look at cost and efficiency while making a decision and you need to offer your services based on these two key metrics. This does not mean that you must start offering your services at lower prices.
Instead, try to provide more value to users at the same price as others are charging. Every industry has its unique requirements which ultimately affect its decision-making process. Try to understand those factors to get an insight into how things are finalized at your target businesses.
4. Research Your Target Audience’s Industry
As mentioned before, each industry has its won unique demands which affect the entities in it. Corporate attorneys usually look to establish themselves by catering to organizations belonging to a specific industry.
This allows them to build expertise in providing assistance to that particular niche. It, therefore, becomes pertinent to research your target audience’s industry thoroughly. Try to know about the factors which impact the domain. Moreover, stay updated by knowing about the latest trends in the sector so that you can provide better advice.
For instance, the introduction of GDPR in the European Union forced businesses worldwide to change their approach of gathering personal information from EU citizens. Law firms that had prepared in advance for the new regulation got new clients as well as generated more revenue from existing ones by advising on the issue.
5. Ask Your Audience For Honest Feedback
Firms that align their services perfectly with their audience’s requirements always succeed. However, client needs are not constant and keep changing all the time. The best way to know whether you are fulfilling their requirements or not is to ask for their feedback.
Interact with the users and encourage them to share their honest opinion about their experience of working with your firm. Ask probing questions to know how they found your services. This will be helpful in identifying the areas that need improvement.
It will also be pertinent to ask them about what kind of extra value they would like to receive from you. Generating feedback will also help in nurturing client relationships and provide you with valuable input for improving your services.
Corporate law has become an intensely competitive field and attorneys need to increase their audience’s engagement to stay ahead of their rivals. These legal marketing tips for corporate lawyers will help them in devising an effective plan to engage their clients and boost revenue generation.