July 17, 2006
The Law Firm Elevator Speech
When a new salesperson joins a well-run commercial enterprise, one of the first things the salesperson receives is a “sales toolbox.” Of course, “toolbox” is used figuratively. Today, that toolbox may include some printed materials, but most of the toolbox will be in the form of online resources, including documents and color promotional pieces that can be printed on demand.
One of the most important items in that toolbox is the Elevator Speech. Does your firm have one? Take a walk through the office and ask every attorney you find to imagine they are on an elevator and that they are asked, “Who do you work for and what do you do? The chances are that few can answer that question in 30 seconds. Even fewer will do so in plain English that clearly communicates what the firm does and why that should be important to the listener. When you add them all up, out of every 10 attorneys you are likely to get 10 very different answers.
Law firms don’t expect their legal professionals to start each legal document as a blank sheet of paper. They do not expect the attorney to reinvent the solution to each new matter or case. They draw on the firm’s knowledge bank, including legal forms, documents, and prior experience. They take advantage of external resources as well. In effect, they have a professional toolbox for approaching each new matter or case.
Likewise, for efficient rainmaking, the legal professional needs a marketing and sales toolbox out of which he or she can pull the right tool to take advantage of a business development opportunity. The toolbox also keeps everyone on the same page. Being on the same page is essential for effective branding.
The Texas-based Fare Share Consulting, Inc. has a Web site called Elevator Speech. The consulting company uses videos to help companies develop an effective 30-second communication to convey exactly what the firm does and why the listener should care.
What are some of the other items, in addition to the Elevator Speech, that should be in your rainmaker’s toolbox?
- Vision or strategic thrust statement
- Key goals
- Key strategies
- Key tactics
- Tag line (For example, Jones Days' “One Firm Worldwide”)
- Standard directory listing narratives for varying word counts
- Practice classes and products
- Pricing information
- Brochures
- Proposal templates or samples
- Ad samples
- Newsletters
- Direct mail pieces
- News releases
- Discount coupons (Don’t laugh—when tastefully done, they work!)
- Referral cards
- “Compliments of” cards
- Note cards—for congratulatory, condolence, and special occasions
- Sample or Letter templates:
- Referral letters
- Letters to current clients
- Letters to former clients
- Letters to prospective clients
- Letters to referral sources
- Letters to other attorneys
- Proactive (outbound) calling reasons and example scripts
You don’t expect lawyers to lawyer without the right tools. Why should you expect them to bring in new business barehanded? Give your attorneys the right tools. Set expectations—a personal business development plan. Hold people accountable in terms of compensation and advancement. Do those things and they will bring in the business! That will put more partner income in your pockets.
Morepartnerincome.com is sponsored by Juris, Inc. For information about Juris® products and services for increasing law firm performance and partner income, go to www.Juris.com.
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Filed under Marketing by Tom Collins