Standing Out: How To Set Yourself Apart From Other Law Firms

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1 Standing Out: How To Set Yourself Apart From Other Law Firms PRACTICE MANAGEMENT ADVISORY SERVICE OF THE D.C. BAR PRACTICE 360⁰ MAY 18, 2018 SPEAKER: MARY ELLEN HICKMAN

2 20+ years in marketing MARY ELLEN HICKMAN, MBA Founder + Marketing Strategist Broad range of experience Advertising, research, business analysis, revenue forecasting New business and brand launch in US and overseas Launched and led 3 businesses MBA from top-tier school Adjunct professor of marketing

3 Hickman Consulting Partners = Growth 3

4 Hickman Consulting Partners = Attention 4

5 5 What are your objectives?

6 STANDING OUT: HOW TO SET YOURSELF APART FROM OTHER LAW FIRMS OUR PATH 6 STEP 1 Start with your services STEP 3 Identify insights STEP 4 Determine STEP 5 Communicate STEP 6 Quantify value + increase price STEP 2 your point of Choose the difference right clients

7 7 Where is the best place to start?

8 1. start WITH YOUR SERVICES 8 1 What services do you provide? STEP 1 2 What do you do best? Start with your services

9 2. Choose the Right clients 9 1 Who needs your services? 2 Who values your services? STEP 2 Choose the right clients 3 4 Who is able to pay? Who is easy to persuade? 5 Who is easy to work with?

10 3. Identify Insights 10 1 How do your best clients think and feel about your services? STEP 3 2 What is important to your best clients? What is most important? Identify insights

11 4. DeTERMINE Your Point Of Difference 11

12 4. DEtermine Your Point Of Difference 12 1 Think about what you do best and what makes you different What do your best clients care about the most? 2 The easy way: ask Your clients STEP 4 Determine your point of difference Your coworkers or colleagues Your friends and family Your advisors or vendors 3 Ensure that your benefit is unique (enough) Potential clients want to choose They expect you to make the choice clear Give them a reason to choose you

13 13 Consider your competition: Law firms who do similar work.

14 4. DEtermine Your Point Of Difference 14 1 Think about what you do best and what makes you different What do your best clients care about the most? 2 The easy way: ask Your clients STEP 4 Determine your point of difference Your coworkers or colleagues Your friends and family Your advisors or vendors 3 Ensure that your benefit is unique (enough) Potential clients want to choose They expect you to make the choice clear Give them a reason to choose you

15 5. COMMUNICATE 15 1 Talking points 2 Case studies STEP 5 Communicate Situation Action Result 3 Testimonials

16 6. QUANTIFY VALUE + INCREASE PRICE 16 1 Do the math Quantify the value you provide: calculate the benefit your clients receive STEP 6 Quantify value + increase price 2 Reevaluate your rates Cost to provide services Market rate Value provided/benefit received

17 STANDING OUT: HOW TO SET YOURSELF APART FROM OTHER LAW FIRMS OUR PATH 17 STEP 1 Start with your services STEP 3 Identify insights STEP 4 Determine STEP 5 Communicate STEP 6 Quantify value + increase price STEP 2 your point of Choose the difference right clients

18 18 Share your learnings: What has worked best for you?

19 Q&A 19 MARY ELLEN HICKMAN, MBA HICKMAN CONSULTING PARTNERS MARKETING STRATEGY FOR GROWTH RESOURCES:

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