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Your Business: Tracking Leads – The Recorder

By: Sharon Berman
Published: The Recorder

“Why should we track where our marketing leads comes from?” This question, posed by the managing partner of a successful boutique law firm, took me by surprise. When we talk with firms about whether or not they track the sources of their leads as well as actual business, they usually steer the conversation toward the challenges of the mechanics, not the valid, essential, and underlying question of why they should consider doing it. Continue Reading

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Your Business: Building Your Firm’s Brand Equity – The Recorder

By: Sharon Berman
Published: The Recorder

When it comes to professional services, the primary purpose of marketing is to generate leads resulting in opportunities to be in front of qualified prospects. However, you also want your marketing to generate marketing equity, to have “pre-sold” you and your firm. You want every prospect you meet to already know that you are the clear choice based on factors that distinguish you from your peers such as your knowledge of your prospect’s industry or that you understand their particular target demographic. You also want them to understand why you warrant a higher fee than the firm next door. Continue Reading

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Marketing Your Billing Practices – The Recorder

By: Sharon Berman
Published: The Recorder

Alternative fee arrangements (AFAs) are here to stay and offer firms an opportunity from a profitability, infrastructure and business development standpoint. By AFAs, I’m referring to a non-hourly billing arrangement; this does not include a discounted hourly rate, nor does it comprise contingency work. The level of talk, puzzlement and concern currently exceeds AFAs’ actual implementation, but interest keeps mounting and will only continue. While the financial aspect of AFAs is vital, using them to your marketing benefit as a point of differentiation is equally important. Continue Reading

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Taking Business Development to the Next Level – Bloomberg Law

By: Sharon Berman
Published: Bloomberg Law

You have set out on the path to becoming a rainmaker. Perhaps you have originated some business on your own. It may even be that your firm has wisely made an exception to its standards for engagement scope or fee in order to encourage your efforts. In short, you have some success under your belt. Now, where do you go from here? Continue Reading

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