According to the American Bar Association, there are currently 1,143,358 active attorneys in the United States. With thousands of law firms offering exactly the same services, and with the expanding role of globalization in the legal arena, it is critical for these legal professionals to know very specific key details about their competition.
With an abundance of legal referral sources on the internet, there is no excuse for the legal professional who knows very little or nothing about his competitors.
Regardless of how unique you believe you and your services are, there are many other law firms doing exactly what you do and offering exactly what you offer. You should educate everyone in your firm about your competitors and clearly explain to them the reason why prospects should hire your firm instead of your competitors.
The top 5 (of many) details every attorney should know about their direct competition are:
1. Who is their target market?
2. What are the strengths and weaknesses of the firm?
3. What kind of marketing avenues they use? (direct mail, internet websites, direct sales, networking events, email, print medial, radio, infomercials, TV ads)
4. What the press and media says about them? (research articles written about them, interviews with their partners)
5. How has their law practice has been going in the last six to twelve months?
Here’s a simple tip I use to keep track of my competition: Let Google doing the work for you by setting up a Google alert. Just put the name of the partner or law firm into the search feature (be sure to put it in quotes “law firm competitor”) then enter your email address. I recommend you select a “Comprehensive” search and have Google email you only “as it happens,” not daily. Keep a file on your computer under “Competition.” This can also become invaluable to you litigators out there when you need to do some quick research on your competition. Hint: you can also use this to keep track of your biggest accounts and yourself.
More than 6,000 lawyers across the country have attended our Rainmaker seminars to learn specific ways to market their law firms, find better clients and generate more referrals.
For dozens of other tips, techniques, and proven strategies, I recommend attorneys check out our intensive law firm marketing boot camp, the two day Rainmaker Retreat program. We offer it 4-5 times every year around the country.