Time to Gain Market Share

I visited with  North Carolina attorney yesterday who told me “Like everyone else, we are cutting back on spending.” When he finished, I conceded that many firms are cutting back; however, there are some who are doubling and tripling their internet marketing budget because stepping forwards when others are stepping back creates the greatest distance between you and you competition. In other words, it is a great time to gain market share from your competitors. He agreed and proceeded to tell me they are considering entering a new market.

In the last seven days I have had to turn away firms wishing to market Mesothelioma at the national level. What’s that mean? Clarification would be good..

1. National mean search terms like mesothelioma lawyer. There isn’t a state or city in the search. It is the most competitive search for a lawyer out there!
2. When I say we are turning away customers, it because we will only work for a few firms per area of practice/geography. This is a clear  advantage we offer over our competitors.

I remember when the bankruptcy reform went down must have been 4 years ago. It reduced the number of bankruptcy lawyers and law firms, but the survivors are doing better today than before the changes. During this challenging economic time, the decisions made by your law firm will determine how or if you emerge the other side. I agree that “batting down the hatches” is a good plan for a boat in a storm, but not so much for a business in a eceonomic storm. Definitely cut back on expense, but not marketing. This is your one expense that will drastically affect how or if your firm survives this economic downturn.