Viewing entries tagged
Blue Ocean strategy

To remain relevant to clients and prospects, get informed and stay informed

Study after study reinforces that one of the main causes of client dissatisfaction--and departure--is not knowing their business, which can mean being perceived as not having sufficient context for your legal advice to maximize its value. It also means that you won’t be able to proactively approach them with fresh thinking that will differentiate you from all the other lawyers whose expertise and experience equals yours.

If your conversations are largely limited to discussions about legal work in progress, or trying to get them to reallocate their current legal spend in your favor, you’re part of the problem. Here’s how to reposition yourself.

Don't be tempted to write a clever lead-generation email

It’s frustrating to send emails trying to prompt people to agree to a conversation with you that might lead to a sales opportunity, only to have them unopened or ignored--not only by strangers or weak connections, but especially if they’re people you’ve previously done business with or have known for a long time.

After enduring enough of this, it can be tempting to try to be clever with your email’s Subject line to induce people to open your email, or to play a little fast and loose with body copy, all in the hopes of getting them on the phone. However, don’t. Just don’t.

58% of sales meetings are not valuable to buyers

A Blue Ocean is a market where there is no competition or much less competition. It means searching for an emerging problem with which very few lawyers associate, and for which the impact is so significant that solutions for it have no pricing pressure.

Relatively unexplored and untainted by competition, blue oceans are vast, deep and powerful in terms of opportunity and growth. You’re better off searching for ways to gain "uncontested market space" rather than competing with similar firms and lawyers.

Escape price pressure: Create your own "Blue Ocean Strategy"

A Blue Ocean is a market where there is no competition or much less competition. It means searching for an emerging problem with which very few lawyers associate, and for which the impact is so significant that solutions for it have no pricing pressure.

Relatively unexplored and untainted by competition, blue oceans are vast, deep and powerful in terms of opportunity and growth. You’re better off searching for ways to gain "uncontested market space" rather than competing with similar firms and lawyers.