Top Lawyer Coach, LLC

5 Ways to Identify Clients Who Will Give You the Best Return

Your time is valuable, especially when it comes to legal marketing. Just like bad clients, focusing on low-potential business opportunities are a waste of your precious marketing time.

Make the most of that time by identifying HIGH-POTENTIAL new clients. They will be your bread-and-butter. They will help build your book of business.

So, how do you determine if someone has good business potential?

Here are five questions to think about before you begin marketing.

1. Is the person unhappy with their current representation?

It's extremely difficult to lure clients away from their current counsel, especially if they're satisfied with the relationship. However, if a potential client is unhappy with current counsel then it's time to make a move.

But, beware! Depending on the reason for the client's unhappiness with old counsel, you may find yourself defending the same criticisms down the road.

Before accepting the work, ask enough questions to uncover the reasons for their dissatisfaction with their current lawyer.  You may not WANT to be their lawyer either!

2. How easy will it be to market to this prospect?

Do you have a way to reach this potential new client? Do you know him or know someone who's willing to make an introduction?  If getting your foot in the door is too arduous, you may want to pick another prospect.

3. Can the prospect afford you?

This is, perhaps, the million dollar question. You don't want to land a client who can't afford your fees. Keep in mind that startups, individuals, and some small businesses fall into this category.

4. Will this person be a continuing source of business?

Make the most of your marketing time and energy by only focusing on clients who offer the possibility of repeat business or, at the very least, referrals.

5. Is the matter a strategic fit for your practice?

Not only do you want new business, you want to attract clients who match your ideal client profile.  Focus on prospects who will bring matters that fit your area of expertise.

If  answers to these five questions don't come easy, then do some research. Dig around the Internet or talk to colleagues. Leave no stone unturned!

Learning how to identify a high-potential opportunity will go a long way in making your marketing efforts much more effective.