Two Best Ways for Lawyers and Law Firms to Generate New Business

 1. Generate “leads” from marketing activities such as seminars, newsletters, and websites. What is a “lead”? It is a client or prospective client who demonstrates interest in a legal subject. Often, leads come in the form of questions, such as: “Does your firm have a written employment policy for family leave?” There is a reason the clients/prospects asked this question – they usually have a need.

This “lead” is the beginning of a ball of string; what is yet to be determined is how big that ball of string is. The only way to determine how big the need is (or how big the whole ball of string is) is to make appropriate inquiries. Show concern and interest in why the question was asked. Adopt an “I want to be helpful” attitude. Skilled rainmakers – ones who have a natural gift of building relationships quickly, establishing trust and confidence – often consistently convert leads into new revenues. Conversion is the process of taking a “lead” and changing it into a retainer and/or opening of a new matter memo.

2.  Follow up using direct communications with existing clients or prospects. These are communications that come in only four main forms – in person, by telephone, in writing, and by computer/email. A prospective client may attend a law firm’s seminar on “Protecting Intellectual Property Assets.” But someone from the firm must subsequently take the time to talk with the prospective client, establish a relationship, and develop a level of trust and confidence. Then, as appropriate, learn about the business method patents the prospect’s company may have; there is very little chance the prospective client will hire the law firm after simply attending the seminar alone. It is critical to initiate staying in touch over time using a variety of communication methods.

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