23 January How do I attract new clients and or raise my income? – 1st Part January 23, 2016By KAMAE Management attract , clients , raise my income 0 - Reading time: 2 min. 50 s. There’s no doubt that recession has also hit the law firms. We’ve been watching to lot of changes in law firms, with splits and fusions, but usually we forget the basics: how to approach the market. And this happens because most times law firms are focused only on themselves. One of the simple questions we can ask ourselves to know where we are stand is “Do I spend more time speaking with colleagues or with clients?”. If the answer is that you spend more time speaking with colleagues or if the difference it’s not meaningful, then you have to review your priorities. Let’s now try to answer this article’s title. There are only 3 ways to grow in a business: 1. Increase the number of clients; 2. Increase the average financial value per transaction; 3. Increase the frequency with which clients seeks you. Based on these premises we’ll now present some ideas to develop these aspects: 1. Maintain your clients. Before anything else it’s important that your client stays as your client, and this is a point almost forgotten in most law firms. We know that sometimes the clients forget to look for you, especially when they already met another lawyer. Advice: be proactive, get in touch regularly with your clients. One phone call, a lunch, a visit are always appreciated actions. 2. References. Another important reason for keeping your clients is because they can actually result in references for future clients. You now may say: That is not new! That is true, but do you leave these references in your client’s hands or do you ask your client for references of another clients? The second option is a much more proactive approach that can help you control the flow of possible clients. Advice: create an implemented procedure of asking your clients about new potential client’s references and make a follow-up. 3. Competition Analysis. This is pretty much an unattended point. Many of you may ask what does this have to do with winning new client! My answer is: All! Ask yourself: “Why a client will choose me instead of some colleague of mine?” “What do I have that’s better than the competition?” How do you answer these questions? Studying the competition… 4. Business companies. Involvement with business associations it’s an excellent source of potential clients, because all of them will need a lawyer in some point of their business life. 5. Website. Nowadays, Internet grows as a first search place. We now know that in USA, UK, Portugal and other countries, clients visit the lawyer’s website before getting in touch with him. These are 5 important points for obtaining an income increase. It’s worthless to know them if we don’t practice them. Call that client to whom you haven’t spoken in a while today. In the next article we will focus some more points that will help you to get new clients and to increase your income. Remember that: “World is changing and it’s time for you to change your strategies for wining new clients!” Comment (0) Comments are closed.