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| Branding your law firm through Law Firm Marketing |
By:
Daniel Nash |
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| A client looking for legal assistance today has to make a tough choice. The options available to him are numerous and he really can’t choose between them because they all seem to be promising him the same thing. What can you, as a lawyer, do to make his quest easier? Simple, create a brand for your law firm.
With reference to law firms, Branding is how you want your clients and prospects to perceive your law firm. A successful brand is a differentiator, the relevant and positive attributes that makes you stand apart from your competition. These attributes should help your client or prospect to make a decision and enhance your firm's value in their mind.
The differentiating attributes for your law firm could be Price, Size, Practice areas/specialties offered, Response time, Geography/market presence, Expertise/experience, Client list and others. However, make sure your differentiating factor is not just a claim but a long lasting, honest, relevant, demonstrable and unique attribute in your target area. Don’t confuse it with an advertising slogan.
Internet marketing can play a major role in almost all aspects of Branding, especially brand communication (visibility and publicity). For identifying attributes and to test your positioning, you could float an email or website based survey on the intranet. Similarly, for competitive research too, you could use search engines and other online marketing tools. Finally, for communicating your new Brand positioning, the internet is one of most cost effective and targeted mediums, allowing accountability and extensive reach.
A good brand can bring you very clear benefits, higher fees and subsequently higher profits. An exhaustive UK study had concluded that brand recognition in professional service organisations, including law firms, is worth a 10 to 20 percent premium in fees. More recently, the 2006 most valuable law firm survey, conducted by Intangible Business, also concluded that better branding results in higher profitability. Specifically, it found that Linklaters, Freshfields, Slaughter and May had higher lead generation profitability due to their strong brands. Arguably, all magic circle law firms in London, which have had a strong brand identity, command higher fee premiums. You might be worried that Branding is a time and cost intensive exercise, suited only for large law firms. But fortunately this is not the case. In fact, by using the latest technological resources, like internet marketing, you can cut down on your branding costs significantly and build your law firm brand in considerably less time. Using the various online marketing tools, such as a website, e-newsletters, and blogs, you can spread your branding across different mediums. You just need to make a start.
To find out more on how to brand your law firm and utilise technology to do so effectively, visit www.legalimarketing.co.uk. |
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