The shocking results of our 2009 Legal Marketing/ Law Practice Survey
The results of our 2009 legal marketing/ law practice survey are in and the responses are sadly indicative of our industry as a whole.
According to the results, you are frustrated and tired of begging for business and struggling to turn a profit in your small and solo firms. The statistics show 23% of lawyers surveyed made under $50,000 last year, while 40% of lawyers surveyed felt “very dissatisfied” with the amount they made in 2009.
A large majority also expressed dissatisfaction with the amount of time they wasted on tire kickers, price shoppers and clients who refused to pay their full fee…and quite frankly, what you know you are worth.
That’s a hard pill to swallow, especially after spending up to six figures on your law degree.
The most unfortunate part, however, is how many of these lawyers did do the right things in marketing their practices last year. 99% of lawyers surveyed tried at least one form of advanced marketing (if not many forms) and still failed to see consistent results or good ROI from their efforts. As you can imagine, these attorneys were off the chart when it came to feeling “very dissatisfied” with their marketing efforts and practice as a whole.
But, here’s the important thing for you to know … the lawyers who felt “very satisfied” with their marketing, practices and income last year all had one thing in common:
They were not just relying on one source of business; instead, they had an automated marketing system to consistently market using a diverse set of strategies without fail-even (especially!) when times got tough.
A good client attraction strategy is like having a diversified investment portfolio. When one sector bombs, your stock in an unrelated sector shields you from huge loss. The same holds true with your marketing. You want to have an integrated and coordinated marketing system set up so that if one source temporarily dries up, it doesn’t affect you.
I’m sure some of you are thinking, “Wow, that’s got to be expensive …I can barely afford to run a nice big ad in the yellow pages, let alone do all this marketing you’re talking about”. The good news though is that some of the best strategies are low-cost or even no-cost provided you put in the time to set up the system to begin with.
The great news about a system though is that once it’s set up, it’s good to go and will produce consistent, reliable and predictable results for you on an ongoing basis.
So, what does an integrated, coordinated, automated system look like?
I laid it out in detail on this call I hosted. Listen to it here .
And if you are ready to get your integrated, coordinated, automated system in place for 2010 and beyond, join us for our 2-day virtual event . It will change everything for you. I guarantee it.
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