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August 2009, Issue #39

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In this issue:

Increase Referrals: Measure It To Manage It

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Every attorney needs to have a way to find new referral sources and maintain existing referral sources. Good managers say: “If you can’t measure it, then you can’t manage it.” You can increase your referrals from old referral sources, identify new referral systems using the following system to measure, and manage your referral activity:

1) The TOP 20 List – this is called the Top 20, however, you may only have a few at this point. The first objective is to get 20 on the list - and is why it is called the Top 20 list. In order to put a person on this list, that referral source must have sent you X amount of business over the last year. The value of X depends on your practice area. If you are a PI attorney, then you might say if the person has sent you at least two good PI cases with a value to you of over $25,000 over the last year, then they are a Top 20. If you are a real property attorney who specializes in residential closings, you might set X at 3 to 5 residential closings per month over the last year. I think you get the idea.

The key variable is the referrals coming consistently over the recent years and they are at what you consider a high and lucrative level compared to #2 below. You probably know who they are. If you do, great, and I would check your files for the last three years as well to help you remind yourself of some of them.

2) The FARM TEAM List – this is a list of those people who have at least tried to make a referral to you up to not having met the minimum criteria you set for a Top 20 person. “At least tried” is defined as something such as the scenario where you see the person at the grocery store and they ask if person X has called you yet, as they gave them your number about a month or so ago. Well, they tried didn’t they! That is progress for sure over list #3 below. Again, you probably know some who will be on this list as you are reading; however, I bet you need to run the last three-year files to find more.

3) The WHO YOU KNOW List – this is a list of everyone you know and even maybe everyone your spouse/significant other knows, or your staff knows as well. Naturally, this could be a huge list if you actually did it. In practice, start with just the key people you know or people you have some level of rapport with, but who have never sent you business that are in the right category (see #4 below). The criteria here are you would say you know them and they would say they know you if someone brought up your name to them. Let’s look at list #4.

4) The CATEGORIES List – this is a list of occupations or professions – not people’s names - who have the capacity to refer to you. If you are an attorney of any practice area, one of these categories is certainly “other attorneys”… although that is too broad. An environmental attorney I worked with was particularly interested in commercial real estate attorneys, which is a more specific category. One specialist family law litigator I worked with had other family law attorneys as a particular interest. A matrimonial attorney might be interested in other attorneys for sure, but also list doctors, psychotherapists, social service agencies, etc. PI attorneys I have worked with were very interested in orthopedic surgeons, neurosurgeons, physical therapists, auto garages, etc.

You want to know what the categories of professions and occupations are that could refer clients to you. Just the categories, not the people. Worst case is if you had nobody on the other three lists, we could start here. Almost nobody has that problem; however, if you are a “start up” in a new city you may be at that place. Some larger firms need to be very active this way as well. What’s more, if you do some “educational marketing” through seminars to referral sources, this is an important variable to consider.

How do you keep these lists? The old-fashioned method is to make the list on paper and keep index cards on each person on the list. The next best way is to keep the lists in a Word document or an Excel file and keep a separate file on each of your people on your Top 20, Farm Team and Who You Know lists, so you can keep track of notes on each of them. The best way to keep a list is through some sort of contact management database system preferably online based.

OK, well now you have the list what do you do with it? Well call me for a 20 to 30 minute complimentary consultation with my compliments (no selling allowed – you have to ask me) and I will tell you more since this is long enough for this month he says with a smile.

Comments, ideas, questions or topics you would like to see addressed in future newsletters? I would love to hear from you. Just reply to this newsletter and tell me what you think. OK, that is it for this month and I am looking forward to meeting you on the call!

To your success,

Henry Harlow
Founder, www.Law-Firm-Marketing-Coach.com

PS: Want a no risk, no sales practice assessment across 115 key points with tips, techniques and solutions you can implement right away to increase you income while you reduce your work hours? Get more details by clicking here right now.