Law Firm Succession Planning: Create Value by Creating Your Brand

Law Firm Succession planning is not a one-off event. Instead, you should treat it as a process, planning five to ten years in advance of when you plan to retire.

This way, you will be able to provide yourself with the flexibility to enjoy your well-deserved retirement years, while also maximizing the value that you receive for the firm that you have spent so many years building. By treating succession planning as a long-term process, you will be able to assure that you institutionalize your firm AND your legacy. You will further establish your firm’s brand that, with proper planning, will last through generations of successors in the firm.


There are a few important steps to consider while you’re developing this succession plan.


First, you need to build your brand. Your brand is your most important asset which will create value for you and your firm long after you have retired. You can do this successfully by conducting a thorough Brand Analysis, which will show you what clients, prospects, and recruits see and think when they encounter your various brand touch points.

In addition to a Brand Analysis, you should also run a complete audit of your website and aim to build the best site possible. For businesses, websites are one of the most important communications tools of the 21 st century. Websites provide a foundation for a firm with a big vision – a firm like yours!

Finally, you should begin business development coaching for the firm’s future leaders, including your associates. This will be the best way to show your attorneys and recruits that you genuinely care about their growth.

After this, you will be in a better place to determine partner roles, structures, and responsibilities, while also developing leadership and management responsibilities. This will ensure that your firm is left in a good place once you do retire. You should also determine compensation and retirement plans, as well as transition clients that remain well-represented within your firm. It is important that you support growth for the generations of lawyers to come. You know you have to retire eventually, but simply knowing this information is not enough. You need to develop a solid succession plan, backed by strong marketing that will reinforce your firm’s brand and continue to develop your firm’s value through the years to come.

It’s really as easy as 1-2-3. Perform a brand analysis. Build your site. Coach your future leaders.


So, what are you waiting for? Start today, and let me help you build your firm’s value while controlling the destiny of the firm by creating a valuable brand and marketing and technology infrastructures. This will allow you to have an exit strategy that lets you retire proudly while achieving the rewards of the firm you have created.

Are you ready to start building your Law Firms Brand? Click here to talk to Paul today!

Why Website Traffic is the Most Important Indicator for Future Revenue

I have worked with and interviewed hundreds of attorneys, and you may be surprised to know that even the most conservative partners agree that a good website is key to bringing in business.


Why is it important, though? And how can you increase your website traffic to improve your business development?

To start, your website traffic is the single most important measurement for “Return on Investment” (ROI) marketing activities, and is also the leading indicator for your future revenue.

It is proven that increased website traffic increases the amount of business you will generate. Therefore, you need website traffic to make your site successful, as the greater the number of visitors, the more people are seeing your content. With increased visitors to your site comes more prospects interested in utilizing your services.

And, if you know your website traffic, you’ll have a great benchmark. You’ll know whether you’re growing or not, and you’ll have a better idea of how to improve for the future.

HerrmannLaw uses ranking systems that can tell you exactly where your website stands in terms of website traffic compared to your competitors. We can provide web traffic data, global ranking, and other information that will help provide that crucial web traffic benchmark on which you can improve.

How do you get quantity and quality visitors to your website traffic without the high expense of purchasing Pay-Per-Click (AdWords) or Directory Listings (FindLaw)?


Organic Quality Visitors are as easy as 1-2-3. Really, its just three things:


1) Increasing Authority (focusing on trustworthy links)
2) Document Relevancy (CONTENT that is relevant to your target market)
3) Technology Optimization (website programing that makes it easy for search engines)


I’ve been helping law firms do just that for years, and I’ve seen how increased attention to quality content and marketing techniques can create more opportunities for business to succeed.

With more than 25 years of experience in law firm marketing, business development and technology, HerrmannLAW will combine branding, technology and analytics to ensure your law firm’s marketing dollars promote your business model, aspirations and you see a return on your
investment.

Are you interested in learning more about increasing your website traffic? Click here to talk to Paul today!

Marketing for Medical Malpractice Law

You’ve probably heard all the words: lead generation, branding, social media, AdWords, web traffic, and more. And while you probably know these are all important parts of marketing, I bet you’ve sometime wondered how all of this can apply to you.

“I have a medical malpractice law firm. How does any of this work for me?”


What if I told you that there IS a way to maximize your marketing dollars by executing a multifaceted marketing plan that incorporates both traditional and newer marketing methods? And what if I told you that we can apply all of this to best serve your medical malpractice firm?

Doubtful? Read ahead.

Marketing is a constantly changing field, and it requires individuals and companies to adapt in order to learn best practices for maximizing marketing dollars. A multifaceted marketing plan will push your firm to local, regional and national levels, and move your brand strategies from simply advertising your law firm to something more robust.

Combining branding, technology and analytics will ensure that your medical malpractice law firm’s marketing dollars promote your business aspirations and that you see a return on your investment. In fact, “Return on Investment” marketing is what we focus on at HerrmannLAW, and we’re prepared to help you take it to the next level.

I know medical malpractice marketing. It will take more than the Yellow Pages, television, radio, and billboards to push your firm to the top. To really promote your business, medical malpractice marketing involves brand name awareness and brand advertising, business development coaching, firm analytics tracking, Google AdWords, a strong public relations plan, solid social media marketing, Facebook Ads,Third Party Display and redirecting Ads, massive SEO, and more.

It will require consideration of seminars, both outbound and inbound for lawyers, not the public, to build you as an expert in your field and to help others understand just how important your services are. Finally,
it is crucial that your presence is amplified to a larger audience by including yourself on law directories such as SuperLawyers, Best Lawyers, Find Law, AVVO and Law Info. These directories have changed their business models to spend a lot of money on GoogleAds, making them hotspots for online searches. Specifically, regarding SuperLawyers, the site is looked to as an outbound source for lawyers from other areas to look for attorneys to whom they want to refer business.

In summary, medical malpractice marketing is a take-no-prisoners approach that will need a multifaceted marketing plan that incorporates both traditional and newer marketing methods to get business today. In a nutshell, you would benefit from taking your present advertising only approach for prospect action into a more thorough “24/7 top-of-mind” marketing approach. I believe adding more marketing to your business development mix will enhance your present advertising strategies and take their marketing ROI to the next level

Feel free to contact me. I’d be happy to discuss how I can help

Why Seminars Are The Backbone of Your Estates & Trusts Practice


In my time working with Estates and Trusts marketing, I have always emphasized that marketing is a constantly-changing field that requires individuals and companies to adapt in order to learn best practices for maximizing marketing dollars. Law firm marketing is more than simply advertising, public relations and blogs—it involves creating a lasting impression on your clients and prospects to make the firm unique and memorable for your prospects. Cohesive marketing strategies lead to consistent, sustainable growth and business development.

In order to successfully leave this lasting impression, you need to be able to interact with your clients and prospects personally. These individuals are trusting you with their most valuable assets – their family, their passions and their legacies. They need to know you, and you need to build relationships with them that will last not only their lifetime, but the lifetime of their children, grandchildren, and other loved ones.

That’s why SEMINARS should be the backbone of your estates and trusts practice.

Even though seminars have been around forever, their use and success have changed dramatically in recent years. Seminars are more important than ever in this digital, non-personal world, and they require more sophistication now than ever before. They are the single best way to get face-to-face with an estate prospect in a professional, non-threatening, no pressure, no obligation, secure and comfortable off-site environment.


Just imagine having a cup of coffee with all your prospects in a cozy place where they feel comfortable!

Seminars will produce lucrative marketing results, brand and attorney name awareness, enhanced public relations, and strengthened long-term marketing goals. In my own time with living trusts seminars, I have seen a proven return on investment of between 10 to 20 deals per seminar—it is truly an integral part of any marketing strategy. All you have to do after a couple of quick meetings with a seminar marketing professional is “show up and present” your seminar and be available during the following two weeks for post-seminar appointments.


Everything in your marketing toolbox is built around seminars, as they are an integral part of Estates and Trusts marketing. Seminars will provide context for your brand name awareness, your social media marketing, your competition analysis, and even your website technology and traffic. Your brand will become your expertise and the personal touch that you provide to each client, all built around your seminars.

Applying digital strategy to law firm advertising

In today’s age, digital marketing can bring successful results for any consumer or corporate organization. However, law firms can find these digital strategies quite useful as they aim to increase client attraction and retention.

There are many different ways of going about a digital marketing platform; however, there are some basics that are important for any company looking to get it started.

It is important to start with specific, measurable goals. Luminate, a digital growth agency, uses the acronym SMART as a pneumonic device for companies to use. SMART stands for “specific, measurable, attainable, relevant, and time-bound.”

First, make sure you specify your goal for digital growth. Then, make sure these goals are measurable, and that you can reasonably attain them. It is also important to make sure the goals are relevant to your company’s mission. Finally, set a deadline for reaching these goals as an incentive to work toward them quickly.

Combined with these tips, it is important to utilize many areas of digital strategy in order to help your company grow as well, especially for law firms.

It is crucial that law firms develop strong websites that provide information about services and attorneys and also post relevant and quality content for all site visitors. It should reflect the firm’s values and practices, which will ultimately strengthen your digital presence and reputation.

In addition, it is important to consider search engine optimization (SEO) in everything that you do for your website. What keywords are most popular online that you can bend to fit your own marketing needs? Answering this question and using it to build your content online will increase your visibility on the web.

Overall, it is crucial to consider digital marketing as a non-negotiable part of company growth. As companies begin to establish a stronger online presence, you will only be left behind if you don’t try to keep up.

Content marketing: An insight into client-retention strategies

Content Marketing and client relationsBy Paul Herrmann

Content marketing is a specific type of marketing that involves the creation of online material which stimulates interest in a specific product or service. These materials can include videos, blogs, social media and more.
It is an extremely useful tool for client-retention, as it builds trust and loyalty between a client and a company. In order to foster this retention, it is important for companies, especially law firms, to develop clear content marketing strategies and define goals that focus on the most strategic areas of company growth.

This content should be client-centered, meaning that it should be framed around what the client will respond to the best. It is advantageous to use these strategies in order to allow a client to feel like they have a loyal ally in their individual success. In fact, many law firms who use content-marketing strategies have improved their clientele greatly. It is important to keep the following in mind when implementing content-marketing into your business plans:

Your content should be striking and maintain quality. While it is important to produce higher quantities of content, it’s crucial that you never lose the content’s quality. Through a mix of good quantity and quality, your content will reach wider varieties of audiences.

Create a brand. It is important to market your business as a brand, and revolve your content around that brand. A unique style will attract even more people to your firm’s content. Make sure that this content is relatable to your audience.

Keep it simple. At a law firm, it’s easy to focus content around the intricacies of law and legal practice; however, using a conversational tone and simpler language will help more people relate to what you’re saying. You don’t necessarily have to dumb it down, but balancing conversation, examples, humor, and legal jargon will relate better to people.

Use the news. Many great content pieces will come from current events. This is why it’s extremely important to take advantage of the news and what’s trending in order to push your content out to more readers.

Content marketing has proven extremely useful in many businesses, especially within law firms. The legal industry should actively work to incorporate more content-marketing strategies in order to take full advantage of the marketing world.

The Role of Return on Investment in Legal Marketing

One of the most important questions in the marketing field, and in legal marketing specifically, is how to calculate the return on investment (ROI) of the dollars spent on marketing. In the law firm world, this question has become much more crucial than it was a few years ago.

Herrmmann Law provides ROI for Law Firms of all sizesWe are in an age of accountability, and marketing departments have to prove their worth.

One of the most important questions in the marketing field, and in legal marketing specifically, is how to calculate the return on investment (ROI) of the dollars spent on marketing. In the law firm world, this question has become much more crucial than it was a few years ago. As law firms’ marketing budgets become tighter, lawyers are becoming increasingly more interested in knowing how their marketing dollars are being spent, and to what end.

We know that people do business with people they know and trust, and have seen – that’s where we step in. Marketing can make a lot happen, but there are caveats. We can’t control the product, the pricing, attorney follow-ups, sales skills, presentation skills, or people skills.

A good deal has been written on the ROI of legal marketing. The basic principles that I see as most crucial are the following:

1. Many of the measures of ROI are imperfect at best. Although it’s easy to say with certainty how much a law firm spent on, say, a CLE seminar on tax issues involving trusts and estates, and it’s easy to know how many current and prospective clients attended the seminar, it’s quite difficult to ascertain what new client matters may have resulted from the seminar and thus how much revenue was generated. There are many reasons why a new client might come to a firm or why an existing client might choose to give the firm new legal work.

2. Return on investment must be calculated over the long term. A period as long as two to three years is generally needed to realize the benefits from a media campaign, a social media program involving brand exposure, or a blog. Quite often, an attorney will look for a major influx of client work after three to six months. It doesn’t happen that way. The firm’s leaders need to have intestinal fortitude and need to persist with their plan.

3. Even though ROI is hard to measure, a firm that makes serious attempts to measure ROI is doing much better than a firm that doesn’t even try. Although it may not be easy to directly track revenue from a seminar or an advertising campaign, there are ways of approximating the value of the marketing expenditure. The firm could measure the number of billable hours worked by its trusts and estates department in the six months before the seminar and in the six months afterward. An increase would give at least an indication that the seminar was worthwhile.

4. All the good marketing plans a law firm can make through seminars, media campaigns and the like are probably going to be useless for ROI purposes unless the attorneys know how to follow up and deliver their message. A good marketing team can increase brand recognition, can help foster trust and a sense of stability, and can encourage lawyers to do their part. But the lawyers need to close the deal.

5. It’s always better to plan a marketing campaign ahead of time with thoughtfulness and intent, and it’s likewise better to plan the use of an ROI measure ahead of time. If the firm chooses to pay for search terms via Google, for example, that marketing expenditure should be coupled with a planned and appropriate ROI metric, such as the firm’s cost per impression, cost per click, or average position in response to a Google search.