Law Firm Marketing – Only 3 Sources of New Business

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When it comes to growth in law firms, there are really only 3 sources of new business. They are:

  • Clients
  • Referrals
  • Prospects

A law firm should derive at least 50% of its new business every year coming from clients and referrals. This new business indicates a client’s recognition of high quality work and on-going awareness of relationship building.

It also results in more work from recent and past clients and demonstrates their willingness to refer business and contacts. While many firms focus on generating new clients, we urge our clients to strive for the 50% factor that most tend to overlook: past clients.

If you’re unsure of how to start, consider 3 important questions:

1. Who do I need to reconnect with?

2. How many client retention meetings can I set this month? And with whom?

3. What upcoming events can I attend and invite clients to join?

At the Closers Group, we help law firms close more new business rapidly using a variety of business development tactics just like these.

Marketing for Marketers Series

Only 3 Sources of New Business

Rainmaking Does Not Start Outside

27% Have Been Terminated by In House Counsel

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