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If you want your marketing efforts to turn into new business, what one thing must you do? Follow up consistently with those people you want to convert to clients. If you fail to keep in touch with your prospects on a regular basis, your business development efforts will likely fall short of your hoped-for results.
The probability that a single marketing effort ' such as a lunch meeting or a speech ' will result in new business is about 5%. In other words, the likelihood that a single marketing contact will not produce results is about 95%. On average, it takes seven to nine significant contacts before a prospect becomes a client. And it often takes between 18 and 24 months to make those contacts. Marketing is a marathon, not a sprint.
Yet my experience is that most lawyers give up on their business development efforts long before making those seven contacts. Even relatively successful marketers tend to give up after about three contacts. They think, “If the prospective client hasn't hired me by now, he probably never will.” But the truth is, just when you're ready to throw in the towel pursuing a new client, you're probably about halfway to success. And since most lawyers give up way too soon, making more than three contacts will immediately make you stand out from your competition.
Follow-up Is Not Stalking
When I suggest to clients that they should plan for their marketing outreach to require at least seven contacts, the first question they ask is: “How can I keep contacting someone that often without appearing to be stalking them?”
My answer: You are a stalker only if they're not happy to hear from you. If you are sharing important information, opportunities, or insights, they will likely view you and your contact in a positive light. Think about the last time someone sent you an e-mail about something you were interested in ' whether it was a review of a new book by a favorite author or an update on compliance with new regulatory requirements in your industry. Did you think, “I wish this person would stop sending me stuff like this”? Probably not. You probably were happy to receive it. And that is how your prospects are likely to feel. Assuming, that is, that what you send them is something they consider of interest.
Value Is in the Eye of the Beholder
The tricky part is figuring out what a particular prospect will find of value. What one person finds of interest, another may view as “junk mail.” For example, if a prospective client works for a private equity fund or an energy company, she may be delighted to receive an invitation to a conference on emerging legal issues for private equity investment in the energy industry. On the other hand, send that same invitation to someone who specializes in intellectual property litigation for a media company, and he is likely to immediately hit the delete key. Similarly, an article about the competitive nature of college admissions may intrigue someone who has a son in high school, but not someone who has a daughter in preschool.
So how do you figure out what may be of interest to a particular prospect? Obviously, one way is to make an educated guess. For example, if you met an in-house counsel for a national retailer at a wage and hour class action seminar, she would likely appreciate receiving an article about avoiding wage and hour liability in Texas.
But why guess? In every marketing interaction you have ' at a one-on-one lunch, a bar networking event, or during a break at an industry conference ' make a point of discovering at least one topic that might be of interest to the person you are interacting with. Are they concerned with staying abreast of the law in a certain area? Are they looking for ways for their in-house legal department to satisfy their ethics CLE requirements? Which basketball team do they root for? Are they always on the hunt for the next “hot” restaurant? Once you figure out what interests them, it is easy to find ways to reach out to them on those topics.
There Are Lots of Ways to Follow Up
Traditionally, lawyers have taken prospective clients out to lunch or sent articles or e-alerts as follow-up tactics. There's nothing wrong with those activities; they help keep you on a prospect's radar screen.
But more memorable ways to keep you “top-of-mind” are limited only by your interests and imagination. Consider these ideas as ways to expand how you stay in touch with your prospects:
Now Just Do It
Obviously, recognizing the importance of follow-up is crucial; but to actually produce results, you have to do it. Many a well-intentioned marketing initiative has failed to result in new business because the planned-for follow-up didn't happen. Client demands took precedence; time slipped away; good intentions were forgotten.
To ensure that your follow-up takes place in a timely, consistent manner, you need to have a system that reminds you of: 1) who you are following up with; 2) what you plan to do as follow-up; and 3) when you plan to do it.
Some people do this by scheduling reminders on their Outlook calendar; others by putting notations on their old-fashioned paper calendar. But regardless of the system you use, you should treat these scheduled activities with the same type of commitment as you treat a court appearance or a conference call. Because they are just as important!
Make staying in touch with your prospects the one thing you always do, and watch your marketing effectiveness soar.
Sara Holtz is the founder and CEO of ClientFocus, a business development coaching and training company that works exclusively with lawyers to help them become rainmakers. Ms. Holz is the author of “Bringin' in the Rain: A Woman Lawyer's Guide to Business Development.” She can be reached at [email protected].
If you want your marketing efforts to turn into new business, what one thing must you do? Follow up consistently with those people you want to convert to clients. If you fail to keep in touch with your prospects on a regular basis, your business development efforts will likely fall short of your hoped-for results.
The probability that a single marketing effort ' such as a lunch meeting or a speech ' will result in new business is about 5%. In other words, the likelihood that a single marketing contact will not produce results is about 95%. On average, it takes seven to nine significant contacts before a prospect becomes a client. And it often takes between 18 and 24 months to make those contacts. Marketing is a marathon, not a sprint.
Yet my experience is that most lawyers give up on their business development efforts long before making those seven contacts. Even relatively successful marketers tend to give up after about three contacts. They think, “If the prospective client hasn't hired me by now, he probably never will.” But the truth is, just when you're ready to throw in the towel pursuing a new client, you're probably about halfway to success. And since most lawyers give up way too soon, making more than three contacts will immediately make you stand out from your competition.
Follow-up Is Not Stalking
When I suggest to clients that they should plan for their marketing outreach to require at least seven contacts, the first question they ask is: “How can I keep contacting someone that often without appearing to be stalking them?”
My answer: You are a stalker only if they're not happy to hear from you. If you are sharing important information, opportunities, or insights, they will likely view you and your contact in a positive light. Think about the last time someone sent you an e-mail about something you were interested in ' whether it was a review of a new book by a favorite author or an update on compliance with new regulatory requirements in your industry. Did you think, “I wish this person would stop sending me stuff like this”? Probably not. You probably were happy to receive it. And that is how your prospects are likely to feel. Assuming, that is, that what you send them is something they consider of interest.
Value Is in the Eye of the Beholder
The tricky part is figuring out what a particular prospect will find of value. What one person finds of interest, another may view as “junk mail.” For example, if a prospective client works for a private equity fund or an energy company, she may be delighted to receive an invitation to a conference on emerging legal issues for private equity investment in the energy industry. On the other hand, send that same invitation to someone who specializes in intellectual property litigation for a media company, and he is likely to immediately hit the delete key. Similarly, an article about the competitive nature of college admissions may intrigue someone who has a son in high school, but not someone who has a daughter in preschool.
So how do you figure out what may be of interest to a particular prospect? Obviously, one way is to make an educated guess. For example, if you met an in-house counsel for a national retailer at a wage and hour class action seminar, she would likely appreciate receiving an article about avoiding wage and hour liability in Texas.
But why guess? In every marketing interaction you have ' at a one-on-one lunch, a bar networking event, or during a break at an industry conference ' make a point of discovering at least one topic that might be of interest to the person you are interacting with. Are they concerned with staying abreast of the law in a certain area? Are they looking for ways for their in-house legal department to satisfy their ethics CLE requirements? Which basketball team do they root for? Are they always on the hunt for the next “hot” restaurant? Once you figure out what interests them, it is easy to find ways to reach out to them on those topics.
There Are Lots of Ways to Follow Up
Traditionally, lawyers have taken prospective clients out to lunch or sent articles or e-alerts as follow-up tactics. There's nothing wrong with those activities; they help keep you on a prospect's radar screen.
But more memorable ways to keep you “top-of-mind” are limited only by your interests and imagination. Consider these ideas as ways to expand how you stay in touch with your prospects:
Now Just Do It
Obviously, recognizing the importance of follow-up is crucial; but to actually produce results, you have to do it. Many a well-intentioned marketing initiative has failed to result in new business because the planned-for follow-up didn't happen. Client demands took precedence; time slipped away; good intentions were forgotten.
To ensure that your follow-up takes place in a timely, consistent manner, you need to have a system that reminds you of: 1) who you are following up with; 2) what you plan to do as follow-up; and 3) when you plan to do it.
Some people do this by scheduling reminders on their Outlook calendar; others by putting notations on their old-fashioned paper calendar. But regardless of the system you use, you should treat these scheduled activities with the same type of commitment as you treat a court appearance or a conference call. Because they are just as important!
Make staying in touch with your prospects the one thing you always do, and watch your marketing effectiveness soar.
Sara Holtz is the founder and CEO of ClientFocus, a business development coaching and training company that works exclusively with lawyers to help them become rainmakers. Ms. Holz is the author of “Bringin' in the Rain: A Woman Lawyer's Guide to Business Development.” She can be reached at [email protected].
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