Analysis of a Billion Dollar

Law Firm Strategy

 

Most lawyers favor one style of marketing over another.  For example, "white shoe" corporate attorneys favor one style of marketing, while personal injury lawyers favor another style completely. 

 

As a result, many attorneys have "closed minds" when it comes to innovative marketing methods -- they only watch what other lawyers in their niche do.  One of my natural-born "gifts" (or curses) is open-mindedness... I try anything that might work.

 

I find that most lawyers become more open-minded when I explain how style can be separated from strategy.  So, in this article, I will take a single marketing strategy -- and show two different styles that apply this strategy.  If you're confused so far -- just keep reading.  I think you're going to enjoy this article.

 

The strategy that I'm going to use is called the "Free Widget" (at least, that's what I was taught to call it).  In this article, I'll show you how a law firm that grossed over a billion dollars last year (yes, I'll show you proof of income) uses a "Free Widget," and how you can adapt it to your own practice. 

 

Simply put, a "Free Widget" is either a "Free Report" or a "White Paper" that teaches potential clients a point of law, and positions you as an expert in that area of law.  The idea being, of course, that clients will hire you based on your expertise.

 

So, here's an example of how to apply the strategy of a "Free Widget" -- using two radically different styles...

 

"Free Report" vs. "Complimentary White Paper"

 

First, we're going to look at what some lawyers would consider a "sleazy" way to get clients... And then, we're going to see how the most profitable law firms in the United States use the same strategy in their own way.  (Do you think we could learn something from a law firm that made over a billion dollars last year?)

 

For our example of a "low-brow" Free Report, I'm going to use an example that was ghostwritten by marketing consultant John Rubio.  In case you never heard of John Rubio, he's a marketing consultant who used to advertise heavily in Trial Magazine, to help Personal Injury lawyers get new clients.  He's a student of Dan Kennedy, who is a famous mail-order guru.

 

Anyhow, I can't reprint the actual Free Report here.. due to copyright laws... but fortunately, thanks to the magic of the Internet, you can Google the title of the Free Report (with the quotation marks):

 

"What Insurance Companies Don't Want You to Know About Your Injury Claim"

 

Again, make sure you include the quotation marks...

 

The first few Google results should return several websites.  Pick one and glance through the report -- this is the electronic version of what clients would receive. 

 

Here's how attorneys advertise for the report:

 

Lawyers insert an advertisement in the newspaper that reads (in part):

 

Find out what insurance companies don't want you to know!

FREE REPORT

Don't speak to anyone until you receive your free copy of our special report
that exposes inside secrets insurance companies don't want you to know!

CALL TOLL FREE
1-800-XXX-XXXX

FREE 24-Hour Recorded Message
CALL RIGHT NOW

 

By the way, I found this advertisement in a Fayetteville, NC newspaper several years ago.  I called the 1-800 number just now, and the number is still running, so I assume that the ad is still working.  (I don't list the number here, because I don't want hundreds of people running up this attorney's phone bill.)

 

Some lawyers would consider the Free Report and this advertisement to be... "smarmy" (even though it obviously works for those who use it)!

 

Before you dismiss this marketing strategy as "for ambulance chasers only," let's take a look at something very interesting...

 

The Billion Dollar Version

 

In case you don't know what AmLaw 100 firms are, they are America's 100  most profitable law firms, as ranked by American Lawyer Media (In the past, I assumed that everyone knew of the AmLaw 100, but I have discovered that a significant number of attorneys don't know.)

 

If you visit www.law.com, you'll notice a link on the right-hand side named "Access Law Firm White Papers."  Click on that link, and you'll be provided with a bank of White Papers, published by AmLaw 100 firms.  You'll have to register with the website (it's free) to view the White Papers, but it only takes a few moments.

 

After you register, take a look at a few.  You'll notice right off the bat that these White Papers read like legal briefs.  Very impressive, if you're the in-house counsel of a small company (many of these White Papers are meant for either in-house counsel or corporate upper management). 

 

As an example, let's look at a Skadden article.  As of this writing, Skadden is ranked the most profitable law firm in the United States, according to the AmLaw 100, with last year's gross revenues being $1,225,000,000.

 

Yes, the Law Firm Made
Over a Billion Dollars!

 

So, let's examine our Skadden White Paper.  The first thing I notice is the "sidebar," which looks like this:

 

 

The picture above is probably too small to read, but at the top, in italics, it reads: "If you have any questions or would like any assistance regarding the matters discussed in this memorandum, please call one of the following attorneys or your regular Skadden, Arps contact:"

 

It then goes on to list several attorneys.

 

At the end, it states, in part, "This memorandum is provided by Skadden, Arps, Slate, Meagher & Flom LLP...."  They're reminding us who they are -- again. 

 

And, at the very bottom, they list their website.  You can bet people who are interested in the article will visit their website.

 

Now, we just looked at two radically different styles of implementing the strategy I call "Free Widget."  Which style is better?  Neither -- they're both effective.

 

(However -- for the vast majority of law firms -- I suggest the "Trey Ryder style" of Free Widgets -- what marketing consultant Trey Ryder calls "Education-Based Marketing."  Trey has an incredibly clean copywriting style -- meaning that it is clear, yet does not talk down to potential clients.  Although it seems easy, it is very difficult to duplicate.  See my review of him in the REVIEWS section for more information.)

 

See, the point here isn't to copy a particular style -- the point is that you can separate style from strategy.

 

And, you'll have to adopt a style that fits your personality -- and fits your target client market.  I have a friend who swears that "Free Reports" don't work... but when you look at his poorly-written, poorly stapled, coffee-stained mess of a "report"... it's no wonder it doesn't work for him.  As I always say -- if a proven marketing concept doesn't work... it's not the concept, it's your implementation of the concept.

 

So, whenever you hear of a new marketing concept -- whether on this website or elsewhere -- try to keep an open mind about it... and try to adapt it to whatever style works for you -- whether you're a solo practitioner, or whether you're a billion-dollar firm.