As filings sink to their lowest levels in four years, every bankruptcy attorney is trying to figure out which types of advertising will bring the biggest bang for the buck.
I was talking with one of my clients a few weeks back, trying to get a sense of his marketing needs. We started out with a few typical questions but the conversation quickly evolved into something a bit looser; I usually prefer it that way because it lets me learn more about the attorney in a more informal manner.
About 20 minutes in, we took a left turn of sorts. That’s when it became interesting.
Our original goal for the discussion was to figure out how I could help him market his bankruptcy practice more effectively online. We were going through some ideas for content marketing, social platforms and the like, trying to nail down which avenues would work best for him.
An Unlikely Source
Everything I said to him was met with eager approval. He had done his homework, knew what he wanted, and was willing to do the hard work to make it happen.
I’d asked him about his online and offline advertising, and he’d run down a list of the usual advertising options – Yellow Pages, television, and radio. He did some newspaper ads as well. They worked fairly well, but he was nervous about the market and wanted to hedge his bets.
Then, halfway through our talk, he told me that most of his non-referral work came from an ad he ran in a school newsletter. We went though the numbers, and his return on investment was staggering.
The Left Turn
This disclosure led us down an entirely different path. We looked at the population of the school, drilled down to the parents and teachers, then dissected other places in which they could be found.
Suddenly, the proposed website looked markedly different. The social media platforms changed, as did the message we crafted. Some of the offline advertising venues were dropped, others were given greater attention.
It’s All About The Market
The advertising venues you choose for your bankruptcy practice should reflect your market, not mine. You need to know your clients – who they are, what they like, and where they congregate.
For some, the answer will be in a kick-ass radio campaign. For others, a killer Facebook presence. For all you know, the best advertising venue for your bankruptcy practice may be in hiring someone to wear a sandwich board and march up and down your block.
Until you know your market, there’s no way to tell where you should be advertising.
But the mind you know, the rest falls into place pretty quickly.
Image credit: Susan NYC
Jay-
Great posting on the bankruptcy marketing! I have had a couple clients who actually use the school bulletins but not sure they tracked their referrals from it. Good information to know! Thank you for sharing!
Kelly