Saturday, April 12, 2014

Niche Marketing for Lawyers: Practice that Elevator Speech!

Tell a Story.
Start a Conversation.

At the last retreat of women entrepreneurs enjoying the coaching lessons of Christine Kane in her Gold Mastermind program, we -- yet again --  focused on identifying our ideal client and then practiced our elevator speech designed to draw that ideal client to our businesses.  

So this discussion by blogger Mark Beese, at Attorney at Work, caught my eye. He reports on several presentations given at the recent conference of legal marketing professionals.
Niche marketing. Think about the last time someone asked, “So, what do you do?” at a networking event. What did you say? “I’m a [fill-in-the-blank] lawyer” or “I’m an attorney at [X] firm”? Do you think you made a lasting, positive first impression?
Kevin McMurdo, Principal of McMurdo Consulting and former CMO of Perkins Coie, led a lively discussion on teaching lawyers to focus on a specific niche market where they have a specific value proposition. He used the “elevator speech” to illustrate the point. Which of these responses is most memorable?
  • “I’m a regulatory lawyer at a large firm in the Pacific Northwest.”
  • “I help vintners deal with the many regulations involving wine production, bottling and distribution. My clients produce wine listed on Wine Spectator’s top 100 list. I love wine, I make my own wine and have made a career out of helping wine companies.”
McMurdo advised that lawyers define their niche market by expertise, reputation, network, industry or a specific problem they help solve. He had this advice on creating a targeted elevator speech:
  • Make it succinct, detailed and distinctive.
  • Tell a story.
  • Make it appropriate to the situation.
  • Use it to start a meaningful conversation that builds trust and chemistry.
He encourages lawyers to practice their speech within their firm, in practice group meetings, and through internal introduction videos so that others know how to best refer opportunities to you.
What is your elevator speech? 

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