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Archive for the ‘Legal Funding’ Category

Top 7 Most Read Law Firm Marketing Articles Of 2011!

Wednesday, January 11th, 2012

Law Firm Marketing Advice For Solicitors From Nick Jervis, Samson Consulting

I thought you might need a little motivation and inspiration to fire you up now that we are properly back into the New Year, so how about a look at the top most read blogs and articles of 2011. These articles inspired solicitors in 2011 to make the changes necessary and to take the marketing action they needed to grow their practice, so why can’t they do the same for you now?

So here are the top 7 articles of 2011, I hope you find them helpful, if you do please leave a comment at the bottom of the blog, I would really appreciate that, thank you.

1 – We have to do something….

I feel slightly sad writing this. I had a chat with a solicitor recently who has decided to go down a marketing path which involves a substantial investment and which he and I are both almost certain will lead to failure. Yes, he is entering it knowing that it has little prospects of success. For confidentiality reasons clearly I cannot go into detail about it, but in discussing this with him I kept asking why are you doing this. Ultimately, his response boiled down to five sad words:

We have to do something..

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2 – Some Law Firm KPI’s (Key Performance Indicators)

If you have decided that now might be a good time to start measuring some Law Firm KPIs to ensure that your firm makes progress more quickly with all of your marketing efforts, what would be a good idea to start to measure?

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3 – How Much Good Legal Marketing Advice Are You Ignoring?

I had an email which made me laugh the other day. The email suggested that I had too much content on my website, that I should reduce the number of pages that I have overall and then the ‘intrigue’ of people wanting to find our more would be much better from me. The writer ended with a "I hope you don’t take this the wrong way". I am still smiling widely as I write this.

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4 – Legal Funding For Solicitors

In working with so many solicitors in every conceivable sector of law, I often hear how difficult it has been to obtain legal funding since the banking crisis. Commercial solicitors have struggled to obtain funding for their practices, particularly if they were largely reliant on the commercial property sector. Personal injury solicitors have had their legal funding for disbursements cut or removed completely. I have heard from many solicitors that the banks have clearly pulled back on a lot of their legal funding. Whereas once solicitors seemed to be a sure fire bet, the change in the economy and perhaps the uncertainty around the legal sector with ABS’ now in force adds to this problem.

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5 – The Perfectly Marketed Solicitors Practice In 12 Months?

If I was going to start a Solicitors Practice next year, I know that I could put in place systems in the first 12 months to make sure that I was kept busy with all of the clients that I needed year after year. This is what I would do.

Month 1

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6 – A Classic Marketing Mistake For Solicitors And All Businesses

I am a member of a business mastermind group. Once every couple of months I get together with this group of smart minds and we spend a day together with specific time allotted to each other’s business to take apart a current challenge, disect it and then put it back together. The power of five brains instead of one makes this a very useful and powerful process and it has had a massive impact on my business.

Our last meeting was in Edinburgh and one of my fellow group members had created a new website and he wanted our feedback on why it was not working as he had hoped and anticipated.

I should first say that this is an incredibly bright man. He has spent tens of thousands of pounds advertising his products online and made a fantastic return on his investment. In his sector he is a renowned expert.

He uses all of the methods I use to market his existing products, i.e. Google Adwords, website marketing, article marketing etc. He focuses heavily on lead generation instead of trying to dive straight in for the sale. This is very important….

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7 – When It Comes To Legal Marketing, Perfection Kills Momentum!

One of the biggest lessons that I have carried with me from my days as a practising solicitor is a quote from a legal judgment that was constantly repeated by a partner in one of my firms. Whilst I confess to finding its overuse a little annoying at times, now that I run my own businesses I fully understand the importance of this statement. In the last five years of running my marketing consultancy for solicitors, I am frequently reminded of the statement as I can see Solicitors living out the statement to the detriment of their marketing activities and their business as a whole.

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Would you like me to help you with the marketing of your law firm?

» Click to view the details and download the new Hidden Profits Discovery Meeting brochure.

Kind Regards,

Nick Jervis

Solicitor (non-practising)

Hidden Profits Waiting To Be Discovered..

Author: Nick Jervis

Legal Funding For Solicitors

Saturday, October 15th, 2011

Legal Funding For Solicitors From Nick Jervis, Samson Consulting

In working with so many solicitors in every conceivable sector of law, I often hear how difficult it has been to obtain legal funding since the banking crisis. Commercial solicitors have struggled to obtain funding for their practices, particularly if they were largely reliant on the commercial property sector. Personal injury solicitors have had their legal funding for disbursements cut or removed completely. I have heard from many solicitors that the banks have clearly pulled back on a lot of their legal funding. Whereas once solicitors seemed to be a sure fire bet, the change in the economy and perhaps the uncertainty around the legal sector with ABS’ now in force adds to this problem.

In the personal injury sector, which has always relied on substantial volumes of legal funding, there is huge uncertainty now because Government Ministers like Jack Straw have decided to charge in and order changes when clearly they do not have a clue how the industry works (and sadly no interest in finding out either). As an aside, this has been a real eye opener to me. I assumed when the Government decided to make changes to any business processes they would actually take the time to find out the truth before acting, I didn’t think decisions were made purely based on one party having bigger pockets, yet the insurers seem to be winning. I realise now how incredibly naiive I was to think that justice would out….. honestly Nick 20 plus years in the law you should know better.

Anyway, eye opening lesson over and back to legal funding and the fact that all this uncertainty has culled the amount of funding for solicitors available, or so I thought! I was approached by a legal funding provider who said they could help my solicitor clients and contacts. As when I am approached by any new provider I always like to test them out with people I know to see if they like them, can work with them, and the deals offered are good. If they are, I am happy to tell other solicitors about them if they ask. If not, I prefer to protect my reputation and not mention them. So two firms of solicitors who both were in urgent need of legal funding and were having trouble securing it from tradional lines approached me and asked if I knew anyone who could help. I connected the two firms of solicitors with the new legal funding provider, on the basis that of course they do their own due diligence, and within two months both firms secured the amount of funding that they needed and were very, very happy with the whole experience. Here is what one of them said:

"Many thanks for your kind introduction to the legal funding provider earlier this year. I was able successfully to raise additional capital for my business with them, despite the smaller size of my pension fund. Many thanks. "

The scheme is unique and very, very clever. If you are in need of legal funding and have access to any pension fund (personal or business related) the scheme can release funds for you at very attractive interest rates, and relatively quickly too. It also provides you with a lot more control over the amount of your legal funding and interest rates. As I say, it is clever and unique.

So if you are in need of funding for your legal practice, whether for disbursement funding, to fund a merger or to fund a marketing strategy to dramatically grow your business (says the legal marketing guy hopefully), it is well worth you having a look at this scheme. However, if you have no personal or pension fund whatsoever to access, I do also know two businesses who specialise in finding more traditional sources of legal funding, so there are still other options for you.

Whichever method of legal funding you are interested in, if you would like more information, please fill in the form below below and I will arrange for someone to get in touch and provide you with further details (no cost or obligation to proceed):

Author: Nick Jervis

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