Your Firm's Bottom Line: Increasing Advertising ROI

Happy Labor Day! - the one day most of us will take off from figuring out how to increase productivity and related earnings. But come tomorrow...

This week's topic is all about your firm's bottom line.

We're increasingly approached about the legal marketing services we offer here at BNI and, an often cited question is - how does our primary line of work relate to marketing? At first glance, an odd combination - investigative work and marketing. Pondering it further, an investigator is trained to think analytically and to also be quite creative. We never have 100% foreknowledge of the result of any phone call, info inquiry or face to face situation. So why are some investigators more successful in their field than others? Curiosity is certainly a reason but the main factor for success is that we instinctively understand our audience. We have to. It is that simple. We often have less than a few seconds to give an impression and gain a person's confidence.

So, who better to have on your marketing team than someone who has the ability to quickly assess a successful strategy?

Today, I'd like to offer some tips in selecting a good marketing strategy: (There are 3 ground rules)

1. If you see a wildly successful advertising campaign in a field different from yours, observe it closely. The ideas that can really boost your bottom line ALWAYS come from outside the box.

2. There is only one reason to spend money on marketing - revenue. (Creating a good public image comes from the quality representation your firm gives its clients.)

3. Look at your competitors' marketing and advertising activity - and do the opposite. You have to stand out or you will pump in an endless stream of money into the tried but usually not necessarily true. (If your competitor has a big ad campaign - he/she a- started out with a smaller, unusual strategy and grew to that point or b- they are simply throwing away a lot of money very quickly or c- are unknowningly spending too much for what appears to be a great return.)

For an example of what not to do, (a real tv ad from March, 2008), view below. I'm sure this firm's lawyers are sincere and deliver quality services to their clients, but the oral message and visual delivery do not match. If this ad is working for them, great - but it can be even more successul with a few of the above mentioned tweaks (and some technical ones - i.e., make sure the firm's name is legible against the backdrop, scroll - as opposed to fix - your message continuously along the bottom, and, if you are going to show sample case clips - repeat only one or two scenes; four or five scenarios do not allow the viewer to internalize the critical message point.)




And on a final note, join LinkedIn, the world's largest and growing social/business network. Feel welcome to request the previous Bulletin we ran on LinkedIn, as they have partnered in with LexNex to become the highest-rated online networking tool for lawyers in the world.

BNI Operatives: Street smart; Web savvy.

As always, stay safe,

Lina