The bulk of your competition probably comes from local firms that offer similar practice areas to yours. But how much do you actually know about how your competition does business? Do some competitive research to learn who their clients are, any new accounts they’ve just received, new hires, the outcomes of recent cases, and any press releases and articles they’ve recently published.

Where Do You Find Competitors?
Too many lawyers just focus on the internet or in the yellow pages to find their competitor. Others pick out the top 3 largest and most well known firms in their cities and cite them. What you want to look at are those people that your target audience is most likely to consider your competitors. To do that, you need to start an information file on other law firms. Here are some things to look for:

1. Yellow Pages - Which firms in your area have the most prominent ads? Cut them out (or photocopy them).
2. Web Search - Not all search engines are created equal. Do a web search on the big four search engines - Google, MSN, Yahoo, and AOL - for a few keywords. Good keywords are specific such as [-insert state region/city-] [-insert practice area-] [”lawyer”, “law firm”, “attorney”] - like “Philadelphia Criminal Defense Attorney” or “California Tax Lawyer”. Now, not all prospects are going to search like this. Think about how prospects (not your firm) describe their problem and try searching for those terms. For instance, if you’re a business lawyer, search for “starting a sole proprietorship” or “register a copyright” rather than “Business Transaction Law”. Which law firms show up in the regular listings? Which show up in the “sponsors” or “ads” section?
3. Websites - You can learn a lot about a law firm by looking at its website. Make note of recent events and news, verdicts, press releases, articles published, and other key information.
4. Ads -Whenever you’re reading the newspaper, a non-legal magazine, your Church bulletin, or community newsletter and you spot an ad for a law firm, cut it out.
5. Marketing Materials - Try to get some the marketing materials of other law firms nearby.
6. Networking - If you go to networking events, Country Club outings, or Chamber of Commerce meetings, are there any other lawyers there? What are they doing to promote themselves?
7. Board Members - Lawyers often serve on the boards of charities and nonprofits. Make note of which lawyers are on which boards.
8. Speaking Engagements - Some lawyers offer community seminars or teach a class at a local college. If you can attend a session - go!
9. Location - If there are other law firms in your office building, make note of them. What do their offices look like? How friendly is their secretary? What kind of signage do they use?

Analyzing Your Competitors
Now that you’ve collected information on other law firms, it’s time to analyze the data. Here are some things to consider:

1. How well are they doing? - What types of clients do they have? Where do they get them? How are they doing financially? Are they looking to grow or shrink? Can you determine revenue? Company size?
2. In what direction are they heading? - What have they done lately? What partnerships have they announced? What do they emphasize on their marketing materials, website, front door, ads? What do they downplay? What audience do they address?
3. What works well on their marketing materials and website? - What do you like about each? What makes sense to you? Do they look and sound professional? What would motivate someone to contact them?
4. What are they doing wrong? - What’s not working with their marketing materials and website? Do their marketing materials meaningfully differentiate them from others? Is their website confusing? Is it interesting and helpful to read? Do all their links and features work as expected? Does the text still make sense if you substitute the name of another law firm? (If it does, it’s too generic.)

It’s important to look at more than just the design of the materials. The worst types of advertising focus on the firm - usually they include pictures of the attorneys, a list of practice areas, and an address and phone number. The best types of advertising focus on their target audience’s problem and offer meaningful advice. It’s the difference between focusing on “Business Transaction Law” and “Starting a Business”. Your prospects are going to be much more interested in the second.

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Categories: Marketing Plan