We invite you to read our weekly Public Reputation tips which integrate various marketing disciplines including media relations, marketing strategy, creative focus and web/technology/2.0. Please send us your comments or questions and join our conversation.
Public Reputation Tip of the Week
March 9, 2010
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Pitch the Right Reporters – Every Time
The quickest way to sour your relationships with reporters is to pitch stories that have nothing to do with their beat. As Editor-in-Chief of the Jaffe Legal News Service, I receive pitches daily. Most are on topic. A surprising number are not. In the last month, for example, I have received a release not once, but twice, from a national restaurant chain asking me to cover their free-pancakes-for-charity event. I also regularly receive pitches from law firms that make it clear those sending them haven’t even looked at the JLNS.
I know how this happens. Today’s online media databases make it so easy to generate a huge list based on a few keywords, hit send, and be done with it. But, here’s the problem: Reporters have long memories, and they talk to each other. Pitch one badly and they’ll likely remember when they change to a beat that might cover you. They might also tell other reporters who cover the applicable beat, or rat you out to the Bad Pitch Blog (http://badpitch.blogspot.com/). Just one bad pitch could mean never getting the attention of key reporters again.
Here’s how to make sure you’re pitching the right reporters, every time:
- Vet your media lists. Yes, this takes time, but far less than trying to mend a broken reporter relationship.
- Most online media databases have information on a reporter’s beat, interests and pitching preferences. Read them. The reporter has personally provided those to ensure they don’t receive off-topic pitches.
- Pitch each reporter individually, rather than via a mass e-mail. Again, it takes time, but you’ll be rewarded with better reporter relationships. If you’d like to reach a broad number of legal reporters with one e-mail, use a targeted newswire such as the Jaffe Legal News Service to get your pitch in front of reporters who cover legal news.
March 4, 2010
Make that Bylined Article Work Double Duty
Attorneys are on the front line. They are in the know when in comes to the latest legal trends and information, and they often draft outstanding bylined articles on the issues. Attorney-written articles are a great way to showcase expertise in one’s area and to stake claim as a thought leader in the space.
But, why stop once the article is placed? The majority of the work has already been completed and savvy marketers can take the main topics covered and retool them for an effective “pitch” to reach legal and business media. Attorneys get another shot to comment on topic and reach a wider audience.
Here’s how to stretch the marketing mileage of an article:
- Work with the author to pull key messages from the article. They should be timely, highlight a new trend, or analyze the impact of a recent decision. A short, two- or three-sentence paragraph is all that you’ll need. Remember to keep it on point and summarize for reporters what is at stake and why their readers should care.
- Once you have the pitch down, you’ll need to create a press list. Do a quick Google search and see what’s been covered in the past. You want to be sure that you’re providing new information and not rehashing old news.
- When the requests for interviews start rolling in, be sure to prep the attorneys for their time in the spotlight. Draft a handy list of speaking points so that the attorneys can stay in charge. You can also hire an outside media trainer to help attorneys nail the interview.
February 24, 2010
The Event Isn't Over Once You’ve Finished Speaking
You killed it at that recent conference. Your speech was the talk of the event. But your job isn't over once you've finished your presentation. There are many ways that you and your firm can continue to take advantage of this opportunity now that it’s over. But how? The best way is to create a follow-up plan prior to attending and implement it immediately following the event.
Here are some ideas on how to maximize your speech, post-event:
- Prior to attending the event, ask the conference organizer what kind of information can be shared with you. Sometimes speakers are given full contact information and allowed a one-time use; other times this information is only available to sponsors. If that’s the case, you and your firm may decide a small sponsorship is worth it.
- If you are able to reach out to attendees prior to the event, have a plan for when you follow up and decide what information you will give them to continue the conversation.
- Network -- as much as you can. Talk to the people who attended your presentation, get business cards, connect with them on LinkedIn. You never know what might lead to new business.
- Draft a brief summary of the event and post it to your LinkedIn profile.
- Use Twitter to reference your presentation and post a link to it.
- Send a summary of the event, with a presentation link to clients that you think might be interested.
- Participate in any post-event activities that the conference has planned and stay in touch with the conference organizer for future engagements.
February 17, 2010
Alternative Fee Arrangements Enhance Law Firm Value through Versatility
This week, our Public Reputation Tip corresponds with the release of our newest White Paper – Marketing Law Firm Value: Alternative Fee Arrangements.
At the heart of the White Paper is the idea that law firms have the opportunity to use alternative fee arrangements (“AFAs”) to redefine their value and become more closely aligned with their clients. The starting point for this transformation is a commitment to becoming more versatile.
There are various AFA models, suitable to different client risks and objectives. As you consider how to bring an AFA culture to your firm, here are some things to keep in mind:
- Your firm’s employment of AFAs is a matter of when, not if, so start your preparation now if you haven’t already.
- Conduct a well-planned and thorough analysis of historical matter costs so you know how to price AFA offerings.
- Learn from those that who have gone before you - talk to firms that are recognized AFA thought leaders.
- Begin your AFA implementation efforts with your two most important constituencies: the people within the firm and your best clients.
- Build a marketing strategy around AFAs that includes – at the least – a written and verbal communication plan, business development tactics, traditional and social media channels, and enhancements to your Web site.
- AFAs are not the opening salvos to price wars, nor are they always a substitute for the billable hour. Invest the time to craft your AFA philosophy so you know how and when to apply them, always keeping your clients’ interests at the forefront of your efforts.
February 10, 2010
Hit the Road – And Come Back With New Business
Because most marketing expenses are variable, law firm management often see them as the easiest to chop. But does cutting the firm’s lead generation and sales initiatives make sense when revenues are flat or down? Absolutely not!
Restricting important face-to-face business development activities is a very short-term proposition for increasing the bottom line, and one that could negatively impact a firm’s Public Reputation. At a time when working smarter, not harder -- or more expensively -- is the goal, firms should keep their marketing budgets intact, shifting dollars to personal meetings and visits that will ensure healthy sales pipelines.
Here are a few ideas for increasing your firm’s bottom line:
- Visit your existing clients now – Existing clients are the single best opportunity for increasing the firm’s revenue. Be sure to take a colleague from another practice area to introduce new services. In addition, ask existing clients for business referrals -- if they like your work, they will refer business.
- Visit your former clients – Do you have one-time-only, or project-specific clients for whom you have not recently worked? Visit them soon to learn how their business is proceeding and how you can become re-engaged. Again, take a colleague from another practice area to introduce new firm services.
- Visit your warm leads – Review the notes in your CRM, and you will likely find untapped opportunities from contacts you met at a conference to those introduced to you in business or personal engagements. Now’s the time to follow up.
- Keep your leads alive – Stay in touch with everyone you visit, and follow up regularly with all of your contacts.
Chances are you will be pleasantly surprised by how effective face-to-face business development meetings are in increasing revenues.
February 3, 2010
Law Firm Financial Reporting 101: The AmLaw 200 Survey
You know you’re truly a law firm marketer - signed, sealed and delivered - when you anticipate the AmLaw 200 survey on law firm financial information this time of year, sometime after the recovery of the holiday season and before the reality that February has already set in.
You know the survey: the e-mail has already been forwarded and cc’d so heavily that you have to scroll down for 5 minutes to reference the original note from the reporter. For those who have responded to it in the past, you may already have a system in place. If your firm falls below “the reporting line” for AmLaw lists, your financials and any related stories are still important to understand in order to address any Public Reputation issues head-on: So read on!
Here are some tips on how to manage the process:
- Set an internal deadline for the numbers that allows for revision cycles. Though the note may not have come directly to you, track it down and take ownership.
- Understand what is being asked. While the survey looks cut-and-dry, we all know that the numbers are usually not. Ask the reporter for clarifications as needed, and use last year’s survey response as a guideline for your firm’s reporting consistency.
- Most importantly, get the story behind the numbers. Sit down with your financial officers and leadership, and understand what the numbers mean for the firm. Maybe you didn’t hit the budget mark, but there could be a positive story that can be cultivated.
- Prepare the firm with strategic key messages to help you and your spokespeople talk meaningfully about the numbers if asked by other media outlets or clients.
January 27, 2010
Is your firm efficient? Now is the time to gain market share
There is no doubt that the economic downturn hit the legal industry hard. And “BigLaw” took the biggest blow. In 2009, the nation’s largest law firms laid off more than 12,000 people, including 4,600 lawyers and 7,500 staff. A paradigm shift is occurring, marked by demand for law firms to become more cost-efficient. LexisNexis recently released its State of the Legal Industry Survey, which found that 71 percent of corporate counsel believes law firms today are not doing enough to respond to the current financial pressures on their business model. This presents enormous opportunity for those who do.
The American Lawyer recently commented, “The recent boom – with its eye-popping billing rates of $1,000 per hour, first-year associate salaries of $160,000, and bloated ranks of junior associates – is over. In its place, for now at least, is a new era in which law firms are expected to focus on being more cost-efficient.”
Small and mid-sized firms are especially well suited to provide cost-efficient legal services. Big firms can too, but clients may need a little more convincing given the current environment and negative press. Here are a few small steps your firm can take right now to leverage the current demand for cost-efficiency:
- Start with your current clients. Any good marketing initiative should always begin here. Analyze your relationship, conduct a non-billable visit to ascertain your client’s needs. Find ways to be more efficient, then let them know how you’re doing it.
- Promote your efficiency. If you survived the recession without laying off any staff, tell the world about it. Explain how you did it and what that means for your clients. If you’re hiring now, again, tell the world about it (you’d be surprised how it’s actually newsworthy right now). If you invested in new IT or implemented a new process aimed at efficiency… you guessed it, tell the world about it.
- Write an article or give a speech on efficiency. Show how your firm is an efficient legal provider without ever sacrificing quality. Provide tips for firms looking to become more efficient or for corporate counsel looking to get more from their firms.
January 21, 2010
Monitoring Your Public Reputation
A marketing strategy’s effectiveness is measured by results. Legal marketing is no different, and law firms must identify Public Reputation management opportunities, benchmark positions, and track the impact of tactics and initiatives.
Your Web audience, clients, and the media, among others, build your Public Reputation. With those audiences in mind, here are ways to monitor and measure your Public Reputation:
- Search Engine Rankings: Regularly search Google to see where you appear in the results and the nature of the listings. If you don’t see the rankings you want, optimize your site or publish new content to enhance your position.
- Web Site Traffic Reports: Services like Google Analytics reveal who’s visiting your site, what pages they’re viewing, which search engines and Web sites they’re coming from, and how often they return. You can then determine whether you should revise your Web pages or build in new links. A skilled SEO specialist can also provide strategic advice upon reviewing your traffic reports.
- Client Interviews: Speak to your clients, and ask for feedback – what’s going well, what isn’t? If you receive unfavorable comments, get the details. Understand the situation so you can act to improve the relationship. If you feel clients won’t be upfront with you, ask a consultant to conduct interviews and to provide a report.
- Client Surveys: Use a questionnaire to learn your clients’ thoughts on a particular subject or business practice. The results can generate deeper conversations.
- Media Audits & Alerts: Journalists can impact a firm’s Public Reputation, characterizing facts and opinions in ways that may differ from the perception you wish to convey. Media search programs plus tracking tools like WestClip or Lexis can show what’s being written about you, and an outside publicist can help you obtain more frequent and more favorable media mentions.
January 6, 2010
Don't Just Fly In and Fly Out: Make More of Your Speaking Engagements
Speaking at an industry event gives you multiple marketing opportunities. Please don't just fly in, present, and then fly out. Mix up your public reputation tactics to get the greatest effect: