Dec. 17, 2014 - How do you get the most bang for your marketing dollars in 2015? Think beyond traditional (and costly) advertising avenues like print or TV. You can get big results on a small budget by forming mutually beneficial partnerships and sharing your expertise online, according to Jenna Atkinson, business development coordinator with SVA in Madison, and president of Jenna Atkinson Consulting.
Atkinson shares three tips for how to grow your practice on budget.
1. Create strategic partnerships. Elevate your brand – without writing a huge check – by creating mutual referral relationships and centers of influence with other small firms and organizations. These win-win arrangements can help drive clients to both parties and, because such partnerships don’t necessarily cost anything, they should be a huge part of business development and marketing for small firms.
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What do these strategic partnerships look like? “At SVA, we have something called SVA Plumb Trust Company where we work with high net-worth individuals,” says Atkinson. “Although we have the capability to do legal documents like wills … it’s not really our area of expertise.” Instead, the company refers clients to estate planning attorneys that work with SVA.
“When [these attorneys] are working with families and see that they might need some help on the investment or financial planning side, they give those referrals to us. It’s great to have partnerships where we trust the other side and can give referrals back and forth.”
Get started by asking yourself: What businesses can I partner with to create win-win opportunities? Seek them out and demonstrate that mutual value.
2. Get involved in your community. “More and more, people are looking for firms that not only have expertise but that give back to the community and have a positive impact in the area that they serve,” says Atkinson. Moreover, partnering with a community organization doesn’t have to mean writing a check. “You can give in-kind services or find other ways to promote your brand and show that you care about the community you serve by giving back in different ways and highlighting your expertise.”
What groups or events are your target market a part of? How can you support them while simultaneously building your brand?
3. Share your expertise through content marketing. Content marketing is “the future of marketing, especially for solo or small firms,” says Atkinson. Happily, it’s cost efficient. “What it really costs is your time.” But it’s time well spent. Internet search engine optimization is increasingly important as people are finding attorneys by researching them online.
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“When was the last time you pulled out your Yellow Pages™? You need to make sure that you have a strong online presence and that you can be found in search engines. One of the top ways to do that is by continuously providing valuable content, whether that’s through a blog or articles or white papers or even videos.” In some cases, this content can help improve your search ranking that would otherwise require spending thousands of marketing dollars.
What publications would benefit from your expertise? What type of content might help your target market? Create a content marketing plan and schedule to stay on track.
Build Your Personal Brand
Above all, “do whatever you can to build your personal brand,” says Atkinson. “As a solo or small firm, your personal brand is tied in with your firm’s brand.” Make sure you have a LinkedIn profile and that it is filled out professionally. Consider maintaining a blog or contribute to other publication outlets to showcase your expertise.
“Make sure your face is out in the community that you serve so people know what your firm does and how you can be a resource for them.”
Jenna Atkinson was a presenter at the State Bar of Wisconsin PINNACLE's 2014 Wisconsin Solo & Small Firm Conference in Wisconsin Dells, Oct. 23-25.