IMS clients tend to be more realistic about defining their ideal target prospects. They don’t automatically jump to the “elderly high net worth individual who revises their will every three months” that a less sophisticated attorney might describe. We believe this is because of a combination of factors: they are pro-active and marketing savvy lawyers committed to successfully growing their estate planning law practice, and they’ve also had some good marketing training.
Communities change over time, and keeping pace with those changes is critical for a practice to remain in the forefront. Are surrounding communities turning over, that is, are millennials with young children buying single family houses from aging seniors? If so, you may want to add estate planning for families with young children to your marketing messages.
Are the economics of your community different today than they were five years ago? Have household income levels or real estate values changed? We know of at least one office that is hanging on like a small island in an ocean of apartment buildings. While the building is lovely, clients coming to the office for the first time are surprised to see it surrounded by aging properties. This may not matter or it may become problematic over time.
Do you know who your average client is, right now? Factors to measure include age, marital status, income, assets, offspring, occupation, among others. If you don’t know this off the top of your head, you may be out of touch with your client base. The more in touch you are, the better decisions you’ll make. Think of it as getting a baseline report on your practice.
Is your ideal client the same as your average client? If they are one and the same, you’ve got a home run. If not, you’ve got homework to do.
Here’s our favorite scenario: you love your clients, and they love you. You have defined who you want your clients to be, your marketing is targeted to them, and every day you walk into the office happy about the work you do. If that sounds idealistic, blame our Midwestern values, but we know this can happen because we see it on a regular basis.
If your ideal client is not your average client, we suggest calling James at 877-352-2021 ext. 80 to find out how to make these two clients one and the same!