Six Effective Strategies for Thriving in 2009

• February 10, 2009
• by ServeNow.com Staff
• Marketing

All of the presents have been opened and the champagne bottles emptied. 2008 has come to a close and it has been a trying year for many. It is in times like these that it is imperative to evaluate how your business has been performing and how it can be improved. The legal services industry has been increasingly competitive and the same will be true in 2009. Your business can take these six steps to ensure that you will be celebrating this time next year.

1. Reevaluate Your Goals From 2008.

Dust off your goals from 2008 and review them. Reevaluating your goals is a great way to measure your successes and failures. What did you hope to accomplish that you did not? If there are still a few goals on your list, determine if they are still relevant and create an action plan to achieve them. Once you have set and reviewed your goals, put quarterly reminders on your calendar. This will remind you throughout the year to consider how your actions are affecting your objectives. Reflecting back on your goals allows you to determine your priorities for the year.

If you were one of the lucky few who accomplished everything laid out for 2008, reevaluate your business plan. How has your business changed since its inception? What has changed in the business world? Where has it faltered? Set your goals for 2009 based on where you want to be this time next year.

2. Maximize Your Marketing Effectiveness.

With the economy in a recession, the best way to market your company is by applying marketing effectiveness principles. Marketing effectiveness refers to optimizing your spending to achieve strong short-term and long-term results for your company. You should be spending your marketing dollars where you are seeing returns, and discontinuing those avenues that are not as effective.

This is not as easy as it sounds. According to Marketing Today, the last major study on marketing return on investment (ROI) found that 68 percent of marketers were unable to determine the ROI of their initiatives. However, if you are able to execute this effectively, it can be the key to being more successful than competitors in your market.

The first step to achieving smart marketing effectiveness practices is to simply track where clients are finding your company. If you are not already asking your customers how they found out about your services, now is the time to start. This will give you a good gauge on where you should invest your marketing dollars. Begin by distinguishing whether customers are finding you in print or online resources, or word-of-mouth referrals. Then ask more specific questions to see your marketing dollars at work. Scrutinize these numbers as they can be deceiving. Perhaps you receive inquiries from an ad source on an ongoing basis, which helps you during slow periods. You may find that your inquiries pique just after a print ad is released; or, you discover that only one client came from an advertisement, but that client makes up 30 percent of your business. Whatever your numbers are, use these statistics as a marketing guide in the coming year. By improving your marketing effectiveness you will improve your overall marketing strategy.

3. Focus on the Little Things When it Comes to Customer Service.

Customers are the most important aspect of any business and one of the best competitive advantages that a company can have. This may sound basic, but many companies fail miserably when it comes to basic customer service skills. When a potential client contacts you, listen and sympathize with the caller and always refer to the customer by name. Simply using the client’s name can help establish a connection with the client. Also, be sure to sound professional and avoid using slang when speaking with clients. You run a successful, professional business and that is a message you want to convey to every client during every communication.

4. Examine Everything.

In 1940, Dick and Mac McDonald sold their first hamburger. Today, McDonald’s is the number one fast food restaurant in the world. McDonald’s got to where they are today by examining every aspect of their business right down to the number of pickles that went on to each sandwich—three. Examine your own business in this manner. Take a step back and evaluate what your business’ strengths and weaknesses are. Could you be mapping your serves to make your service more efficient? Would a wireless card and a laptop make your business more efficient? Once you have a list of weaknesses, choose one to work on and develop an action plan of how to achieve that goal.

If you are having difficulty figuring out your business’ weaknesses, try emailing a survey to individuals you have worked with. The only way for your business to truly stay on top is by closely evaluating where you can improve. Try not to be defensive about their criticism, but look at it as valuable information that will help your business grow.

5. What Makes Your Company Different? Think Small.

With so many different process serving companies to chose from why do your clients choose you? Maybe you are the fastest, the most reasonably priced, have the best reputation or are the most convenient. Whatever your niche may be, it is crucial to understand what differentiates your business from the competition.

Once you have identified your niche customer base, evaluate how you can better reach them. What are the characteristics of your clients? Are they law firms, private individuals, insurance companies? You need to think as your customer would and focus your business on best serving that demographic. Your business cannot be everything for everyone. The key is reaching your niche group and determining what your business can do to serve them better.

6. Change Like the Seasons.

Think about how things have changed in your industry within the last 10 years. Now think about how things have changed within the last five years. Time moves fast and things change. What separates the profitable businesses from those that fail is how well they adjust to change. Having outdated business practices is like hunting with a knife. It will get the job done, but to truly be successful and efficient you need some firepower.

Brainstorm creative new ways that you can do business. Utilize technology to improve customer interaction. If everyone does a task the same way in your industry, look for ways that your business can do it differently. Your customers’ lives have changed over the years. Your business needs to change with them to still be considered viable in the process serving industry.

Share with us what your business has been doing to weather the economic storm. Has the upturn in litigation and foreclosures benefited your firm?