If you are a lawyer and you are wondering how to increase income and make more money, then you’re not alone.
In a world where lawyers are not in short supply, how to get clients and increase income has become a difficult task.
But if you learn the art, it is possible to attract clients who can pay you much more than what other lawyers are charging.
The following are ways to get clients and increase your revenue.
Start on a High Note.
Habits, they say are easy to form, but difficult to break. Most lawyers have sadly formed the habit undercharging and offering their services for peanuts.
To increase income as a lawyer, you must believe in the quality of services you are rendering to your clients. Refuse to be an ordinary lawyer or just another lawyer down the street.
Successful lawyers have formed the habit of charging high and people associate them with high quality services. On the other hand people consider lawyers who undercharge as cheap and will never go to them when the stakes are high.
Don’t be Afraid to Lose Clients.
In the course of your law practice, you will come across clients and potential clients who will remind you that lawyer x down the road charge a fraction of what you are asking them to pay.
If you want to increase income and become a successful lawyer, set a standard for yourself and your law firm and stick to them. By refusing to lower your standards, you are going to send some clients away.
But you know what? Do not be afraid! Those clients that go away are precisely the kind of clients you do not need in your law practice. If you refuse to lower your standards, those clients who left for a cheaper lawyer will soon realize their mistakes.
Develop a Close Relationship with your Clients.
One of the advantages of developing a close relationship with your clients is that you will earn their trust. Lawyers who have the trust of their clients also get more money from them.
When you develop a deep relationship with your clients, you can charge high for your services, and they will trust you enough to pay the fees.
Research has also shown that clients or customers who establish good relationships with lawyers and business owners find it hard to patronize other people.
Think about it. You probably have a favorite supermarket, restaurant, or gas station. You keep going back to them each time you want to buy something. The reason you go back is not that they give you a discount, but because you have developed a close relationship with them.
Increase Your Fees.
Once you have set a standard, and offer quality services to your clients, increase your fees. Whether you believe it or not, people often associate quality products and services with high fees.
Researchers have confirmed that people link high price with high quality, although that’s not necessarily true. Many luxury goods companies make use of this strategy. They increase income by slamming high prices on their products and services to make people think they’re of better quality.
Many successful lawyers also employ this strategy in billing their clients. Try it today. It works like magic. Next time you meet new clients, double, triple, and quadruple your charges with confidence. Many of them will leave, but some of them will come back thinking you know something other lawyers don’t know.
When clients come to you, they are looking for quality service and not necessarily at the money they will pay. Once you convince your clients you can offer the kind of quality service they are looking for, they will pay. If you want your clients to feel they are getting quality service, then increase your fees.
Make them feel Important.
There are many benefits to treating your clients well and making them feel important. One such benefit is that they become loyal customers.
A growing body of research has shown that loyal customers make up the bulk of revenue sources for businesses. That is why many business owners spend a lot of resources to retain their existing customers because it costs much more to attract new ones.
The following are some of the ways to make your clients feel important:
- Remember their birthdays, anniversaries and events and celebrate with them.
- Always respond to their inquiries quickly.
- Send them gifts, souvenirs, and your law firm branded items like calendars and diaries.
- Surprise them with calls and visits to find out how they are.
- Appreciate them.
Every one of us, including your clients, wants to be treated well, and we will always stick with those who make us feel important, even if we have to pay more.
Offer Quality Service.
Develop a unique quality service that will set you and your law firm apart from the crowd. Almost every lawyer can prepare legal documents and do most other things that lawyers do.
What will, therefore, set you apart from lawyer x down the street is the way you deliver those services. The minute a client walks into your office, he starts to check you out and to assess what you are worth. A client will not pay more than what he thinks you are worth.
Imagine walking into a law firm where the receptionist welcomes you with a beautiful smile, invites you into a cozy reception room, and offers you newspapers, magazines, coffee, or tea.
I am sure you will choose to do business with this office than with a rundown law firm in an obscure part of town, where the grumpy receptionist treats you with contempt.
If you want to increase income, let your clients have good experience from the first time they walk into your office.
Point Out the Value You are Providing.
If you are going to get more money from your clients, they must know and see the value they are getting from your services.
Come to think of it, why should your clients pay you more than what the lawyer down the street is charging for the same job?
You must know the qualities that set your services apart from others. Point these out to the client, and believe it, most clients will choose value over money.
Let Them see Results.
The lawyers’ work, most of the time, involves the use of the brain rather than the brawn. Brainwork can be very stressful and emotionally draining.
But most clients do not know this. All they see are lawyers who sit behind their desks to write, and off to court to argue.
It is painful that some lawyers go through all these stress and still charge peanuts for their efforts. To get premium pay for the services you render, let your clients see the effort, quality, and value of your work. It’s when they see and feel they are getting valuable service that they’ll pay what you are asking.
Make Your Clients Comfortable.
If you fail to make your clients comfortable when they come to your office, the chances of them paying more for your services, or even returning the second time is slim.
Having a good client experience in your office involves a lot of things, including the services you render and your attitude towards the client.
You may know all the laws and offer quality legal services, but if you do not have a positive attitude towards your clients, they may not pay a premium fee for your work.
Offer Follow-Up and Affiliated Services.
One of the great ways to increase revenue from your clients is to offer complementary services to them.
Lawyers should always find ways to point out and offer complementary services to their clients. Once you have done a job for a client, point out the importance of follow up services that will benefit the client.
For example, if a client briefed you to prepare a land document for a land he bought and you did that, your job is done. But don’t end there. Tell the client of the importance of registering the document, getting insurance, and other services. And who do you think will get the brief for these services? Your guess is as good as mine.
Always think of and come up with affiliated services that you believe will be of great benefit to your clients. You not only add value to your clients but also increase your revenue base by getting new briefs from them.
Display Your Top Clients.
Top brands all over the world have since learned and used the power of endorsement. Manufacturers have seen their sales soar just by having a celebrity endorse or use their product or service.
Clients and customers will pay more if they discover that you have done similar jobs for some high profile clients.
Therefore if you have worked for some trusted and high profile individuals and brands, let the clients know without breaking the confidentiality rule between you and those clients. When potential clients realize that high profile clients are using your services, they will be willing to pay you more.
Offer Free Legal Advice.
Many people do not see the difference between the services offered by lawyers. To them, a lawyer is a lawyer and will settle for the one that will charge the lowest fee.
But by offering free legal advice, people will begin to see the difference in the quality of the services provided by legal practitioners.
The free legal advice will set you apart as an expert who knows his onions, and potential customers will be willing to consult and pay whatever it takes to have your services.
Getting clients to pay a premium fee for your services is not magic – it is an art. Unfortunately, law schools do not teach this art. With diligence, however, it can be learned through experience from those who have mastered the practice.
To increase income is the biggest goal of every business. Law practice is a business, and lawyers should avail themselves of essential marketing skills to grow.