Today, it’s never been harder to generate new business. With COVID-19 and massive disruption set to hit large parts of the global economy in an unprecedented time, lawyers and law firms are thinking of new strategies and ways to generate new clients in a time of physical distancing and economic slow down.
What can law firms do in 2019 to continue to grow?
One word: NETWORKS.
At NEXL we believe networks – especially digital networks – present a unique opportunity for lawyers and law firms to grow in the time of corona virus. Below we’ve compiled 8 new ways lawyers can generate more business remotely, through the power of networks.
Let’s get started!
7 Ways Lawyers can Generate More Business, ONLINE.
1- PHYSICAL SEPARATED – BUT – DIGITALLY CONNECTED.
Today there’s more digital connectivity than ever before. We live in a digitally connected world which presents a unique opportunity when we must remain physically separated.
With time at home and social media usage peaking, if you haven’t done so, it may be time to begin connecting with new potential partners.
2 – GIVE MORE VALUE TO YOUR NETWORK.
For many value means money or work in some manner. However, in the case of a network, value can mean so much more. However, “value” is really much more.
Within a network – especially digital networks – value can really mean insight, helpful content or introductions and opportunities. Gary Vaynerchuck refers to this as “punch, punch, jab”
3 – TREAT YOUR NETWORK LIKE CLIENTS.
This tip is all about switching your mindset. By learning to treat your network like clients you will learn to value the time you put into staying up-to-date with them.
In the end, digital networks give you the opportunity to reach a massive scale. But less is not necessary more. Focus on segmenting your audience into “personas” and target a message that’s focused for that specific cohort.
4- FROM OFFLINE TO ONLINE.
This counter-intuitive but it might be a good idea to reach out digital to people already in your network but who you tend to correspond with typically in a non-digital way. Although the connection might be the same, the channel is new and novel.
It might be time to bring those offline connections, online through a remote networking events – see the video below for more.
5 – UNDERSTAND THE LAW OF RECIPROCITY.
Humans like giving back. It’s in our DNA. By understanding the law of reciprocity you can begin to acts of value, such as referrals, as an investment into reciprocity.
6 – INVEST LIKE ASSETS.
In the end, your network is your greatest assets and is one of the few engines you have that can produce exponential returns for you like a stock could.
Just as you would a stock, staying up to date with your digital network can make sure you know when to end the market at the right time.
7 – STAY IN TOUCH.
Today, keeping in touch with your network can be scaled through the use of technology.
By understanding your top partners, you can tier our your follow-ups, providing personal touches to those more important and more value-added scalable messages to others in your network.
At NEXL we believe networks are the future of law firm growth in a digitally connected world.
If you’d like to learn how NEXL makes it easy for you to build your referral network, check out the 1-minute video below!