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Overland Park, KS 66223
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CLIENT
SOLUTIONS
Integrity Marketing Gets
Site
Up In "Amazingly
Short Time"
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for Resources --
IMS Web
Services
Integrity Marketing Gets Site Up In "Amazingly Short Time"
For our small law
firm, developing a web presence was a huge step, so we spent months
researching design firms before our fortunate discovery of Integrity
Marketing Solutions. For basically the price of a do-it-yourself generic
template, we received outstanding design service from a specialized
company that truly understands the needs of law firms. During the
amazingly short time from conception to publication of our completed web
site, IMS made us feel as if we were their only client, responding to
all our emailed questions and concerns within minutes and solving most
problems just as quickly. Their willingness to allow us to maintain
creative control of the finished project made us technology-impaired
attorneys feel like members of the design team. And we could not be more
pleased with the finished result – a web site that is like none other
in our market and far superior to the “cookie-cutter” offerings of
national design and marketing firms charging thousands more. While we
never felt pressured to “upgrade” our original contract to include
more of the amazing array of marketing services IMS offers, you can bet
this will be our “go to” company for any future promotional needs.
See more websites by IMS
PRACTICE
MANAGEMENT
Fees
Are Just One
Part of the Marketing Mix,
Focus on Lifetime Value
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for Resources --
Building Profitable Referrals
Online
Education
For Long-Term Profitability, Focus on Lifetime Value
Kyle and I just returned from our tenth year as exhibitors as the Heckerling Institute on Estate Planning in Miami Beach. Hard to believe that ten years have flown by since we first introduced the Pocket Watch newsletter at the 1996 Heckerling. During that time period, we have made many wonderful, dear friends -- both clients and fellow service providers. It's always fun to catch-up with good friends like Jane Schuck of Brentmark Software, Jonathan Blattmachr, Mike Graham, Trish McLelland and Nicole Splitter from InteraActive Legal Systems (Wealth Transfer Planning) -- and so many others.
It's also curious to note how many people change companies, how many companies "morph" into something new ... and how many disappear altogether. We certainly have a sense of pride, knowing that we have been serving clients (many of the same clients!) for more than ten years -- with affordable, effective marketing services and products. We are blessed and pleased with the number of clients who take time to stop by our booth to visit -- and thank us for the good service they have received through the years. Our clients are certainly our best sales people "on the floor." And that is fun!
Every year, though, we are amused by the latest "huckster" who comes to our booth touting some sure-fire marketing "scheme" guaranteed to generate phenomenal profits ... which he just happens to also be selling at a phenomenal price. This year was no different.
One gentleman came to our booth, reviewed our sales materials and declared that we were woefully under-priced. Our Building Profitable Referrals program, which we sell for $695, he said should be priced no less than $3,000. Our online courses should be at least $1,500 each. He rather quickly went through each of our product and service offerings, smirking at our hapless bargain pricing. [Now, if you know me at all you know that he was starting to get my dander up just a bit as he suggested that perhaps we did not know what we were doing in terms of pricing. ]
He leaned over on our counter and said, "Don't you value yourselves enough to charge more?" And, of course, I laughed. How many times have you -- as an estate planning attorney -- heard that same line from a seminar speaker? You know the ones who tell you to adopt their system and raise your prices tenfold (primarily so you can afford to pay them for their so-called service)? They look you right in the eye with fake-pity and say, "Don't you value yourself enough to charge more?"
When someone says that to you, my first suggestion is to keep close track of your wallet. In fact, that might be a really good moment to drop your own hand into your pocket -- thus blocking theirs!
There are two important marketing lessons this gentleman seems never to have learned.
The first is a little thing called Lifetime Value. If I'd had a chance, I'd have explained to this gentleman that most clients stay with us for many many years, even without contractual obligations; and that a very high percentage of our clients purchase across product class, e.g., they will purchase newsletters AND websites AND workshops, marketing campaigns, consulting, and online education. We believe in long-term relationships, and in growing those relationships over time by striving to exceed our clients' expectations. Most importantly, as I provide value and help my clients build profitable practices, I am actually growing my own client base. I consider myself to be in partnership with my clients. And that has been a good consideration, as many of our clients have been onboard with us for nearly a decade -- with no signs of leaving. I could not estimate the Lifetime Value of a client, because frankly I don't know yet how long the average Lifetime is for our clients. So far, most of them just come and stay. I like that. We did lose one client last year. He died. And it felt like losing a favorite uncle. But while he was with us, not only did he purchase a wide variety of products and services -- but he also referred many new clients to us and made numerous key introductions for us. All of this is part of the Lifetime Value of a client -- not just the initial purchase, but the ongoing relationship that results in a prosperous, happy, satisfied client who comes back for more products as his practice grows ... refers his colleagues ... and enjoys making key introductions that could help make MY business more profitable as well.
If you are concerned about the long-term profitability of your practice, don't focus exclusively on your fee structure. While it is part of the mix, it is only one part. Focus on meeting client needs, exceeding their expectations, and capturing their Lifetime Value. This is a fair -- and sustainable -- way to boost the VALUE of a new client without excessively raising fees (and potentially pricing yourself out of an otherwise lucrative market).
The second marketing lesson this gentleman never learned?
It's really very simple. The best way to "sell" is to not to sell at all -- but to meet needs. You can't meet needs you know nothing about. And you can't learn about your clients' needs without LISTENING. And you can't LISTEN if you don't SHUT UP!
The truth is that I do have marketing needs (yes, even the marketing person has marketing needs!) -- but this fellow has no idea what they are. He had a product to sell, and somehow thought the best way to do that was to convince me that I was stupid, e.g., did not know how to price my own products and services.
Be careful in those initial consultations. Your clients have needs. LISTEN to them. They may not know the exact legal terms, but they have a pretty good "feel" for their own needs. And if they don't, asking the right questions can help them discover their needs. But if, in that process, you make them feel stupid -- you will NEVER have the opportunity to help them. Nobody wants to be around someone -- let alone PAY someone -- who makes them feel stupid.
MARKETING TIPS
Do Newsletters Really Matter?
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for Resources --
Newsletters
from IMS
This from the January 2006 issue of FINANCIAL PLANNING magazine, "Newsletter News," by Marie Swift (pp 75-78):
Do newsletters really matter? After 18 years as a marketing consultant to advisers, I believe that a good newsletter is critical to their overall marketing programs. I recently did a reality check to see how advisers felt about the efficacy of newsletters by conducting an informal survey of some 100 fee-only and fee-based independent advisers.
Of them, 72.7 percent said a newsletter was an important part of their business building efforts for the following reasons, in order of importance:
- Client communication and retention
- Visibility strategy
- Credibility building (reputation)
- Deliver planning and investment education
- Reinforce investment and business philosophies
- Create new business
Isn't it time to put a newsletter to work for YOU?
SERVICE SPOTLIGHT
Pocket
Watch Newsletter
To Offer Clients More
Marketing Power at
No Additional Cost!
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for Resources --
Pocket
Watch Newsletter
Pocket Watch Newsletter To Offer Clients
More
Marketing Power at No Additional Cost!
Subscribers to the Pocket Watch newsletter will soon get a real
boost in marketing power as the newsletter gets an Extreme Make-Over
with Intelligent Design!
The IMS design team is anxious to unveil the new, improved newsletter in the second quarter of 2006. No-cost upgrades that will boost your bottom line include:
- FULL-COLOR personalization, including your full-color photograph or firm logo!
- An expanded message area on Page 4. Now get up to a full half-page, in the most eye-catching position, for your firm's custom message, news, or announcement. Change or edit your message online, 24 hours a day, seven days a week -- with NO additional change or set-up fees!
- Update your personalization online, at your convenience. And never pay a set-up or change fee!
- Enhanced Professional Image with improved print quality, especially in the personalization areas
- Increased AWARENESS and RESPONSE with FULL-COLOR personalization, including your photo and/or firm logo, and a LARGER mail size that stands out in the mailbox to catch attention
- Cost-Effective Client Communication with an EXPANDED message area. Your firm's message, including your own short article if you prefer, will be seen first -- even if the newsletter is never opened!
- Convenience & Control with ONLINE, 24-hour accessibility to update your mailing list (no more list-change fees!) and edit your messages, personalization, or submit short articles -- even client letters or workshop invitations!
If you are a Pocket Watch newsletter subscriber, watch your mailbox for more information and instructions on how to submit your color photograph or firm logo!
COMPANY NEWS
2005 Estate Planning Strategies
Survey
Results Published in Lawyers' Weekly USA
Click
Here for Resources
FREE
Online Workshop
Building Profitable Referrals
2005 Estate Planning Strategies
Survey
Results Published in Lawyers' Weekly USA
As you may know, we recently completed an
in-depth survey of estate planning attorneys regarding the challenges
posed by ongoing reform (or repeal) of the federal estate tax. Results
of that survey, and our analysis, were recently published in Lawyers'
Weekly USA -- and presented last fall at the Southern California Tax
& Estate Planning Forum in San Diego.
READ the Lawyers' Weekly article online at our website: www.IMSLegalMarketing.com
ATTEND the workshop online -- for FREE. This is the same workshop we presented at Southern Cal, for which many of your colleagues paid hundreds of dollars to attend. The entire presentation is now online. You will need a fairly fast internet connection to enjoy the graphics and audio -- the presentation lasts approximately 35 to 40 minutes .
To view this presentation online for FREE, go to our website: www.IMSLegalMarketing.com.
While you're there, be sure to sign up for our monthly Marketing Newsletter, and take a look at our newest plug-n-play marketing campaign for professional referral sources: Building Profitable Referrals
CONTACT US
Toll-Free
Phone: 1-877-352-2021 • Fax: 1-877-352-2021 •
Email: bsi@carolnet.com
Snail Mail:
Integrity
Marketing Solutions
7111 W. 151st St., Ste 216
Overland Park, KS 66223
Copyright © 2006 IMS.