We interact with marketing daily, from the radios in our cars to the television commercials. Almost every business in America uses some form of advertising, yet law firms hesitate to use these essential tools. Read 8 Figure Firm’s blog to learn more about the basics of effective marketing.
What is marketing?
Before discussing the basics of effective marketing, we must define what marketing is. Marketing involves promoting and selling your products and services, including market research and advertising.
While promoting your firm may seem complicated, marketing revolves around four key concepts: product, price, promotion, and place. When you combine all four elements, you will be prepared to market your firm successfully.
Understanding the term is an important step, but it is only the beginning of your marketing journey. Let’s discuss why marketing is essential before looking at how you can develop your marketing plan.
Why is marketing important?
Marketing is essential for many reasons. First, marketing builds your brand awareness. Increased brand awareness means that clients recognize and remember your law firm and are more likely to trust you with their case.
Effective marketing also strengthens your brand authority. Brand authority can demonstrate your expertise and set you apart from your competitors. It’s vital to your marketing message since people are more likely to trust experts.
Lastly, marketing expands your digital connections. Potential clients want to know they’re interacting with a real person, not just an automated machine. Developing a marketing strategy can demonstrate that you and your firm are there to connect with clients.
How to develop an effective marketing plan
Now that we’ve clarified the term and its importance, let’s work through the basics of effective marketing and how to develop a practical marketing plan.
Define your message
The first step in crafting a marketing plan involves defining your message, which should encompass your product, price, promotion, and place. This message is how you communicate with your audience and convince them to do business with your firm.
You will need to describe your product, or legal service, in a way that appeals to the average person. When describing the product, think about how many variations of the service you’ll offer, how your firm will render the service, and the journey your client will take.
After describing your service, you will need to consider the price. You may not use the number in your marketing, but it is helpful for your team to know. Consider the market rate, how discounts or sales should be timed and applied, and whether you’ll offer payment options.
Promoting your services is also a vital part of defining your message. Once you’ve launched your firm, you must advertise your services to potential clients. When considering your promotion, you should think about which channels will be used, where it will be promoted, and the type of campaign you’ll use.
The last step in defining your message deals with your firm’s location. Whether you operate locally or nationally, you must consider the best way for clients to interact with your firm. You should think about where the service will happen and the needs of a specific location.
Develop your tactics
Once you’ve defined your message, it’s time to develop a marketing strategy. To build your plan, you will need to decide your ideal audience, choose your channels, and determine the types of campaigns you will use.
Deciding your ideal audience is one of the basics of effective marketing. You must consider the type of client you would like to attract, describe their characteristics, and calculate the best way to engage them.
You will then need to choose the channels you will use to communicate with your ideal audience. Channels are the different platforms you can use to connect with clients, attract leads, and promote your firm. Here are some examples of marketing channels:
- Billboards, posters, or wraps
- Digital events
- Direct mail
- Paid digital ads
- Physical events
- Podcasts
- Radio
- SEM
- SEO
- Social media
- Telemarketing
- TV ads
- Webinars
- Website
After deciding your ideal audience and choosing your channels, you will need to determine the types of campaigns you will use. Campaigns are the combination of your marketing goals, strategies, and tactics. Here are some common examples of campaigns:
- Awareness
- Brand launch
- Content
- Client acquisition
- Client advocacy
- Client retention/loyalty
- Lead generation
- Lead nurture
- Lead re-engagement
- Product launch
- Promotional
- Rebrand
- Thought leadership
Refine your strategies
When looking at the basics of effective marketing, the last step in developing your marketing plan involves refining your strategies. Refining your strategy is vital to ensuring successful marketing, as it helps you know what’s working and what should be changed.
To refine your strategies, you must implement a few key performance indicators for marketing. General KPIs to implement could cover the cost per lead, the number of leads generated, the return on your marketing investment, and the total client acquisition cost.
If you see that part of your marketing plan isn’t working, there is nothing wrong with changing course. You should look at all your campaign variables and run a few different A/B tests to see what is effective.
Speak to an Expert
Marketing is an essential tool to help you connect with more clients and grow your firm. To develop an effective marketing plan, you must define your message, develop your tactics, and refine your strategies.
While this blog covers the basics of effective marketing, the process can quickly become complex. That’s why 8 Figure Firm is proud to offer Marketing.ONE, a program to help you master your firm’s messaging.
If you’re ready to take your law firm to the next level, register for Marketing.ONE today. We’ll help you turn your law firm into a law business.
