As the first quarter of the year draws to a close, it’s a good idea to take stock of the execution of your marketing plan so far. Don’t have a formal marketing plan? You need it. An annual marketing plan helps you chart the course of your business and achieve measurable results (and don’t forget to create a realistic budget). The marketing plan you use will vary depending on several factors, but here is a general guide to creating a marketing plan for your law firm.
What should a marketing plan include?
Marketing plans can get quite specific depending on your industry, target audience, goals, and the size of your digital presence. However, these factors notwithstanding, any solid marketing plan should include sections on:
- A summary of your organization with basic information like a mission statement
- Marketing actions that outline specific plans for marketing your law firm, as well as goals and how those goals will be measured
- A customer analysis based on extensive market research, including various customer personas
- A in-depth competitor analysis where you will take stock of the positioning, market share of competing companies, etc.
- A SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) based on the research you have conducted and input from other sections
- A description of how your business will approach the market, or a market strategy, discussing price, location, promotion, etc.
- A budget which describes the amount the marketing team will have access to for projects
- What specific marketing channels you will use to create awareness, generate leads and nurture relationships
- Financial projections that reflect the ROI of your planned tactics
How to Create a Marketing Plan for Your Law Firm
There are a few steps to follow in order to develop an impactful marketing plan that can guide your team to success in marketing your law firm.
1. Perform a situation analysis
What is the current situation of your business? This is where you will look to understand your business positioning and create a SWOT analysis, as well as the overall market environment, competitor analysis, etc.
2. Research and document your target audience
If your law firm has already created client personas, these can provide valuable insight. If not, now is the time to do it! Include demographic information such as location, age, and income. Also consider weaknesses, goals, typical objections, etc. What motivates your audience? What problems does your business address? This information will help you determine your goals.
3. Create SMART goals
SMART refers to specific, measurable, attainable, relevant and time-bound goals. This means that goals should be tied to specific objectives and be able to be achieved and measured within identifiable time frames. Before beginning any tactic, you should write down your objectives. Only then can you assess which activities are the best to perform them. For example, if you want to boost your social media presence, you can set a goal to increase LinkedIn followers by 15% in three months.
4. Assess tactics
At this point, you know who you need to reach and what you want to accomplish. Now you need to figure out what tactics can help you accomplish your goals. Additionally, now is the time to consider channels and other action items. For example, taking our LinkedIn goal above, related tactics could include hosting a certain number of live streams, responding to comments within a certain timeframe, or adding additional content to your page. business. Consider as many tactics as possible and plan a reduction. However, do so knowing that you will ultimately be working within a budget.
5. Determine your budget
Before you can implement everything you’ve developed so far, you need to establish a budget. In some cases, you may not have the budget for the desired activities – or you may need to move some money around. As you determine your tactics, estimate how much money will be needed. It’s also helpful to note the timeline for each tactic as well as any other assets you might need to actually deploy those tactics (such as ad space, software, etc.).
We often advise our clients to develop a marketing plan that will achieve quick wins initially. This way, your team can build momentum and tackle more challenging initiatives as the year progresses. An omnichannel digital marketing plan can provide the roadmap to achieving your business goals and winning more customers.