The Law of Unintended Consequences holds that our actions can have unexpected and unintended results. How does this apply to your marketing? There are two discrete, fundamental business strategies that can guide your firm: You gain market share either by positioning yourself on price (cost leadership), or on value (differentiation) … not both.
Only rarely do I see an attorney who intentionally chose to market himself like Walmart, the "the low-price leader." Edit out the word "intentionally," however, and the opposite is true: most law firms unintentionally position themselves to compete on price.
Being able to collect adequate fees for your work is the single most important driver of your firm’s success. Constant price pressure not only undermines your finances, it’s an absolutely miserable burden to carry into work every day. When clients or referral sources push for lower fees, you feel de-valued and worthless.
Nobody wants to live like that.
I hope you’ll join us for our next workshop here in Kansas City, June 23-25th, and learn how to market intentionally, differentiate yourself with value in the marketplace, completely eliminate fee pressure and stop competing on price.
To learn more about our upcoming workshop, call James at 877-352-2021 or email firstname.lastname@example.org.