Business Strategy & Development, Digital Marketing
In Part 1 of The Postali Way, we explained how our process of listening helps us better understand what makes our clients unique. While this is an important, first step in a custom marketing strategy, it’s only the beginning.
In Part 2, we highlight how thorough Research sets you apart.
To establish your firm’s brand and presence, Postali dives deep into researching two critical elements: the market and competition. We will familiarize ourselves with the strengths and weaknesses of both. After all, you must understand the market you want to conquer.
Market Analysis
Most law firms work within a specific geographical region. And while some markets are more competitive than others, our team helps you find new and underdeveloped opportunities. We’ll look into the clients you want, the ones you don’t, and where you can expand.
Here are some questions we may ask:
- How many potential clients are there?
- What’s the age, income level, and primary concerns of your ideal client?
- What changes have occurred in the area recently (perhaps a new regulation or state law)?
- Is your area of law seasonal or reliant on outside factors?
- What demographics are consistent in your law practice?
Once we have a clear landscape of the market, we can determine where your firm fits in.
Outlining Market Strengths
Once we have a complete market analysis, Postali will tap into your firm’s unique value and uncover the opportunities that lie ahead. For example, is there a high demand for experienced criminal defense attorneys in your area? Are personal injury cases on the rise? Or, is there a large opportunity to refer cases that benefit you?
Identifying Market Weakness
While it’s natural to focus on positive opportunities, understanding the roadblocks and market weaknesses lets us anticipate and overcome challenges we might run into. For example, if the market is oversaturated with DUI or slip and fall attorneys, we’ll offer a strategy that pivots your practice to new and profitable cases.
No matter the issue, Postali will weed out potential thorns and strategize a way to work around vulnerabilities.
Competitive Analysis
When we understand the market, we’ll turn our focus to the competition. With our in-depth competitive analysis, you can identify and gain a comprehensive review of your major competitors.
While this phase targets your competitors’ strengths and weaknesses, we will also outline:
- The volume of competition
- Their overall market share
- The sales and marketing strategies they use
- Services offered and how they compare to yours
- Any future potential competitors
The competitive analysis lets us know who you are up against, and how to surpass them.
Admitting Competitor Strengths
It may not be fun to highlight what your competitors are doing right, but it is a great opportunity to learn where your firm can improve. Perhaps a competitor has an engaging website, or they appear first in a Google search. Maybe their PR strategy lands them in featured articles and frequent news interviews, or you notice a compelling direct mailer delivered to homes in the community.
Rather than envying these initiatives, work with Postali to develop similar – if not superior content and marketing strategies. We will guide you to understand which efforts have the highest ROI, and how a customized plan benefits your firm.
Diagnosing Competitor Weakness
Identifying your competitors’ weaknesses lets us create a space where your firm has the advantage. For your firm to thrive, we must determine potential clients’ pain points and how your firm offers a better resolution. Let Postali help carve out your niche with a clear marketing plan that offers genuine and distinct value
Maybe the competition has a decent website, but there’s no way to schedule a consultation online. Perhaps a rival law firm has a blog, but it’s riddled with legalese that the average consumer can’t digest. These are windows of opportunity to improve upon their strategy and deliver results that convert inquiries into leads.
Continuous Improvement
Like many things that make a law firm great, research is an ongoing effort. Markets shift, populations change, and competitors evolve. We account for natural market developments and plan accordingly, so your firm secures a competitive and sustainable edge.
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After we Listen and Research, comes Part 3 of The Postali Way –Strategize a flourishing marketing plan.
Looking for a marketing agency who will Listen and Research about how to take your firm to the next level? Contact Postali today to schedule a consultation.
Not sure where to begin?
Get started with a marketing audit.