Seasonal Slowdown Strategies 6-10

By MollyandLaney

Earlier we shared Seasonal Slowdown Strategies 1-5 with you to help avoid your seasonal slowdown.  With the end of summer quickly approaching, now is a great time to make a strong push to proactively kick start your Fall.
Here are strategies 6-10, each designed to be quick, but effective, strategies to implement with minimal time, money and distress.

10 Seasonal Slowdown Strategies
#5. Client Appreciation Event. Every law firm wants to have an annual, client appreciation event.  Whether it is an educational event, a family event or a party, there is tremendous benefit to staying in touch and top of mind with your clients.  Not only do their lives change, prompting legal needs, but they are a tremendous, often untapped, referral source.  The #1 reason most law firms don’t actually conduct the event they want to is they don’t have “the time” to organize it.  Well, if you are in the midst of a seasonal slowdown, use this down time to plan your event.  Make sure you create not only a financial budget, but a TIME budget.  Put a firm limit on the amount of time you and your team can devote to this.  Not only will you accomplish a goal you may have had for years, but sending out the invitations will create “top of mind awareness” with your clients immediately.  If you track it, you will see your number of client calls increase after ANY time you reach out and touch your clients.  It jogs their memory of reasons they have been meaning to call you…and reasons to call you usually transform into additional needs your clients have. 

#6. Referral Source Appreciation Event. Along with client appreciation events, a referral source event is usually on most law firm’s “to-do” list.  Again, use your down town to plan this event.  Just as with clients, you will see an increase in activity from your referral sources when your invitations go out.

#7. Conquering Clutter. 100% of the time we talk to an attorney or staff member, the call starts with something not too far away from “Agghh….if you could see my office”. When we don’t have designated places for all our belongings, clutter is often the result. Even if you have established organizational systems, you will face problems with clutter unless you have a plan to find homes for every single piece of article you bring into your office. Otherwise, it’s too easy to set things on top of your desk or filing cabinet “for now.” All too often, “for now” ends up becoming “forever” or at least until things reach the point that you can no longer tolerate the clutter.  This dramatically impacts your clients’ confidence in you and your closing ratio, not to mention your stress and confidence in yourself.  Take your down time and conquer your clutter.  But this time, don’t just “clean up”.  Stop and put in place systems and create “homes” for every item in your office that is cluttering up the place.  Along with the obvious benefits of conquering your clutter, 100% of the time you will “find money” when you do this.  And we don’t mean the change in your desk drawer!  Many of the files and papers on your desk are unfinished work, which is billable. 

#8. Tackle the “Big Cases”.  Every law firm we talk to has a “big case” or at the very least a potential “big case”.  These are those high dollar cases, perhaps an advanced planning case or large trust administration, that have an impressive price tag, but seem to stall and hang around forever.  Most of these cases are hard to move because they require large blocks of time to do research and sort out complex issues.  Use your down time to move your “big cases” or close your “big prospects”.  Unfinished cases are uncollected cash flow.

#9. Employee Review.  Most bosses dread conducting employee reviews.  However, they are a critical part of growing your team.  A team that isn’t growing becomes stagnant and begins to deteriorate.  And team growth requires consistent attention from you, as the boss.  Use your downtime to conduct your employee reviews.  If done properly, they will pump some much needed motivation into your team.

#10. Cost Cutters.  Many law firms also do not routinely review their expenses and are shocked to discover services they are paying for they no longer use, or are overpaying for.  Use your down time to review your expenses and shop for better deals.  Compare your insurance, your copier service, your office supplies, etc.  Competitors are always making deals.  Make sure you are getting the best bang for your buck.

We hope you have found our Seasonal Slowdown Strategies helpful.  To get the most impact, start them early and then keep doing them.  The more momentum you can gain and sustain, the less severely a seasonal slowdown will impact you.

If you missed previous strategies click here.

In your corner,
Molly and Laney

Survey Monkey – Seasonal Slowdown Strategy #5

By MollyandLaney

Earlier we shared strategies with you to help avoid your Seasonal Slowdown, including how you can make a tremendous impact by improving on the “little things”.  Our Seasonal Slowdown Strategies Series, covers how to not only have an awareness of how important it is to track revenues from past years but also to proactively prepare for your slowdown so you can have a plan in place and come out on top when this traditionally depressing, energy-sucking phase ends.
Here is the 5th strategy of the 10 Seasonal Slowdown Strategies you can implement with minimal time, money and distress.

10 Seasonal Slowdown Strategies
#5. Survey Monkey. One of the most cost effective ways to obtain an incredible amount of free marketing is conducting surveys.  Whether you want to measure client satisfaction, get feedback on a new service or workshop you are thinking of launching or learn more about their buying behaviors, Survey Monkey can get you answers fast. This is great for prospective clients, existing clients and referral sources alike. 

We are also fans of having your Client Services Director conduct informal surveys with referral sources and clients.  Come up with a short list of questions and have your Client Services Director call your clients and/or referral sources.  Simple questions can uncover new areas your clients need your help (i.e. additional revenue sources for your firm) and areas you need improvement.  Try questions like:
1.  “What is the biggest danger you are facing right now in your life?”  You can interchange “danger” with obstacle, concern or area of uncertainty. This provides a wealth of information about other areas your clients need help.  These people already trust you, rather than just looking for new clients why not continue looking for ways to service the clients you already have. 
- “My mother in facing going into a nursing home” = nursing home and long-term care planning needs
- “I am concerned about making sure I am ready to pay for my kids’ college education.” = at the very least, an opportunity to refer college planning needs back to the referring financial advisor
- “I am a new grandfather, which is great, but I am concerned about my daughter’s marriage even more now with a baby involved.” = estate planning for your client’s children
2. “If there was one thing we could do to make you more confident in our services, what would it be?”  This question gently uncovers where your weakest areas are that might be undermining your clients’ confidence in you.  It’s always better to find out about something that bothers your client about your service while they are calm, not after it has really made them mad.  You have the opportunity to improve before the relationship is heavily damaged.
3. “Would you recommend a friend or family member to us?  If so, what would you say?”  Don’t just ask would you; make sure to ask “what would you say”.  This will give you insight to how your client’s explain what you do.  You will see why they REALLY hired you and how close that is to the message you are putting into the marketplace.

Either way you approach surveying, two things are crucial to making it an effective strategy to find additional revenue and improvements.  First, decide ahead of time what the next actions are.  For example, if a client brings up a family member that needs planning already know exactly what the next, recommended step is – scheduling an initial consult, mailing out an intro package, etc.  If not, you end up with a stack of surveys on your Client Relations Director’s desk that are waiting for “time with the attorney” to see what’s next.  Figure it out ahead of time to avoid delays.  Second, make sure follow up time is scheduled.  Otherwise all the effort is fruitless.

Stay tuned for Strategy #6!  If you missed previous strategies click here.

Share!  What have you done to proactively plan for your traditional slowdown? We very much welcome what has worked for you.

In your corner,

Molly and Laney