47 – Delisi Friday – Analyzing Your Marketing Strategies for the Year

What this episode covers

In this Trial Lawyer Nation podcast, Michael Cowen sits down with his in-house Director of Marketing and Business Development, Delisi Friday, for another Table Talk episode. This show focuses specifically on an inside look at what they’re doing to market their law firm, why it’s important to analyze their efforts every year, and how they determine when to pivot on specific marketing strategies. Delisi starts the conversation describing why an annual review of their firm’s marketing is imperative and how it gives them a chance to see what’s working and what’s not. It also allows their team to see things early enough to allow for them to pivot in order to make something work better. Michael adds that they have also been known to double down on what’s working, in order to accelerate their success in receiving more cases. Although, the “sunk cost fallacy” occasionally gets in the way of making changes once you’ve put time, and money into an effort and continue with it even though (if it’s not working) you might be better off spending your time on something else. He uses their firm magazine as an example of this. “People tell us that it’s great branding all the time, but it doesn’t bring in big cases” Michael states. They detail how this marketing strategy costs $5,000 every month in printing and mailing, not to mention the time (another associated cost) spent on writing and designing. Which is why Michael states the money on this strategy can be much better, and successfully, spent in other ways benefitting their top referral attorneys. He also suggests that sometimes you need to try 10 things to find the 1 or 2 things that do work for your firm. “We gave it a good shot,” Delisi concludes. The conversation shifts to a discussion on segmentation and how Delisi and Michael determine each segment and the strategies, and marketing costs, involved at each level. Delisi discusses her system for reviewing their mailing list each month to ensure those who are receiving their marketing are more likely to refer a case and thereby keep marketing costs down. This also goes to the point of spending more marketing efforts on existing relationships versus continuously dripping smaller efforts on those you’re trying to establish a relationship with, in hopes that someday they’ll start referring cases. Michael leans toward a 2 year rule, where if an attorney they are targeting hasn’t engaged with them in 24 months, then they stop using the more expensive types of marketing and simply let them continue receiving their emails, which costs almost nothing for them. Michael also describes some of the more elaborate ways they have fostered their existing relationships while finding the most important marketing tactic to keep in mind, is just to spend time with people and keep building relationships. Continuing the topic of referral attorneys, Delisi brings up an important note about the customer experience being more than just the experience of the client at the center of the case. It goes to the deeper point of nurturing the relationships they have with their referral attorneys and not overlooking the experience they provide to them. Michael explains some of the hesitancies he’s heard from referral partners coming from “other herds” regarding cases being referred out and then having a lack of communication until a check was received or a problem arises in the case, or worse, a call to them describing the need to change the deal splitting fees. Michael and Delisi are both adamant those types of scenarios would never happen at their firm and Michael firmly disagrees with such tactics. Leading Delisi to say “your integrity is worth more than that.” They go on to discuss how their firm avoids surprises for their referring attorneys, the communication strategies they follow to keep everyone involved in each referred case, and why their relationships “truly are a partnership.” One of the more interesting shifts in the Cowen | Rodri...