low hanging fruit

Low Hanging FruitEasy pickings. Big results.

Wise Counsel.

A presentation of ideas and tactics to increase marketing efficiency, improve

revenues and enhance attorney productivity.

Wise Counsel.

IMPROVE WIN RATES ON PITCHES

• Be selective in the RFPs you respond to. • Meet with clients to clarify needs and objectives and assess the power

of the incumbents• Monetize the value added services and solutions you offer• Be the first or last to present , never in the middle• Send hand written thank you notes• Conduct post mortem interviews, win or lose• Tie discounts to on-time payments

Easy Pickings

In law firms of 50 to 200 attorneys, a ten percentage point increase in pitch conversion rate can add $500,000 to

$1,500,000 in annual revenues.

Big Results

IMPROVE CLIENT ACQUISITION

• Harness the power of ‘surprising acts of favors’• Be a broker of services and connections• Monitor the unusual business activities that reveal legal needs• Know who you know and who knows who• Develop a specialty area of knowledge that invites inquiries• Learn how to add big value before making small requests• Develop a list of ways to add value to prospective clients to build

relationships

Easy Pickings

With skills improved in 40% of the attorneys, an average matter value of $25,000 and an average of 6 new matters a year per attorney, law

firms with 50 -200 attorneys can improve annual revenues by

$3,000,000 to $12,000,000.

Big Results

EXPAND REFERRAL NETWORKS

• Catalog the firm’s referral network and track contacts and referrals in and out

• Learn how and when to ask for referrals• Use the services of your referral network• Invite referral contacts to client entertainment events to encourage

connections• Give top referral sources advanced access to thought leadership and

other VIP treatments

Easy Pickings

89% of new clients come to the firm through a referral. Effectively managing sources of referrals can increase referral activity by as much as 25%

Big Results

INCREASE MEDIA COVERAGE

• Invite editors and reporters to lunch to familiarize them with firm• Target industry publications and learn their topics of interests• Give reporters direct numbers to attorneys with their expertise• Repurpose client alerts and legislative updates into articles, guest columns and

blog posts• Record seminars and presentations and distribute through social media

channels like Twitter and Linked In• Work with area law schools to find second and third year law students to hire to

draft articles and white papers with direction from the authoring attorney

Easy Pickings

For many firms, it is not unusual to achieve a 50% increase in advertising equivalency through increased media coverage.

Increased media exposure reduces the need for paid advertising. Editorial content has the added benefit of implied endorsement by the publication making the value far higher than advertising exposure. And editorial coverage is often picked up by other publications further multiplying the value.

Big Results

REDUCE DIRECTORY EXPENSE

• Catalog the legal and business directories the firm is in• Identify clients resulting from directories or other value (such as increased web

traffic) and calculate cost / benefit• Compare directory costs to the cost of the firm’s most effective advertising

medium• Cut or reduce inefficient and costly subscriptions• Eliminate individual attorney listings• Reduce or eliminate Yellow Page advertising• Make sure your website is search engine optimized

Easy Pickings

Law firms of 50 to 200 attorneys often achieve savings of $20,000 to $75,000.

• 89% of work comes to the firm through referrals, good quality clients rarely come blindly through directory listings

• Most business executives confirm the experience of an attorney on the Firm’s website. Attorneys biographies are the most visited pages of a firm’s website and outnumber directory visits by more than 10 : 1

Big Results

REDUCE ADVERTISING COSTS

• Consolidate multi-market ad contracts and leverage for higher discounts

• Eliminate advertisements that do not reach target audience• Eliminate sponsorships that do not reach target audience• Ensure consistent and compelling messaging in all mediums• Design and use ad templates and eliminate one-off ad

designs• If name recognition is not a problem, fund ad budgets last.

Easy Pickings

A law firm of 50 to 200 attorneys can expect to reduce advertising waste by as much as

25% of the total annual advertising budget.

Big Results

IMPROVE CLIENT TEAM EFFECTIVENESS

• Monitor unusual business activities of clients• Monetize the value of waived or added value services• Spend time off the clock at client’s business or plant, visit quarterly• Communicate regularly with concise, substantive information• Read client websites and public filings regularly• Track client news and events• Actively participate in client’s industry associations• Share client knowledge with internal team

Easy Pickings

Client Teams improve service delivery, client satisfaction and client knowledge. They can reduce the ramp up time for new attorneys, improve account succession, facilitate cross selling and improve client retention.

Big Results

IMPROVE CROSS SELLING

• Build familiarity and trust among attorneys• Assign and coordinate cross selling teams• Engage referral network in cross selling plans• Align cross selling efforts with practice synergies • Reduce the number of targets and focus efforts• Use secondments to understand client needs and company goals

Easy Pickings

Cross selling existing clients is 8 times more effective (less expensive) in landing additional work than selling to prospective clients.

Big Results

IMPROVE CLIENT SATISFACTION

• Conduct client interviews and consistently gather feedback

• Set client service standards• Track client satisfaction and service delivery• Train attorneys and staff in client service• Include client satisfaction in compensation metrics• Include client satisfaction ratings in monthly financial

reports

Easy Pickings

According to a study conducted by BTI Consulting Group, law firms ranked high in client focus enjoy superior financial rewards and earn:• 30% higher profits than other law firms• 7% rate premiums across all attorney levels• Double the fees from a single client• 35% higher client retention

Big Results

Who We Are

Group Dewey Consulting provides complex marketing consulting and training services to law firms, practice groups and individuals. Our strengths include: strategy and planning; business development training and coaching; lateral placement support; and practice management.

We follow a value-based engagement model. Our complimentary pre-engagement assessments help clients define the scope of their needs, identify project objectives and metrics, and determine the total return on their investment . The process ensures a clear understanding of the expected results and facilitates consensus in the firm for support of the project.

How We Work

To schedule a free consultation, please contact Eric Dewey at eric@groupdeweyconsulting.com or call 502-693-4731 .