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Asked Recently:

I joined my new firm two years ago. I have recently been charged with managing the firm's Estate Planning (EP) practice. I'm trying to find ideas on how to leverage the firm's 22 locations in the Metro area. I currently meet clients multiple times (approximately 3-4 times) and in person. This worked great for one location, but may be taxing with multiple. I may be able to use attorneys (real estate practitioners) in each office for non-EP specific parts of the process (perhaps signing meeting). What are some of your ideas to efficiently manage the EP process? Thank you!

Start with Defining Your Goals

Estate Planning Practice means different things to different firms, and client bases.

First you want to define what your goals are.  Are you trying to sell more wills/health planning packages at a grand (or less) a person (this will be their price point when seen as a commodity), or are you selling peace of mind to people of means (this could be four to ten thousand plus dollar trust plans, and possibly continuity payments (membership, monitorring, being on retainer))?

And you might have to do a certain number of the wills to get to the more profitable, more complex estate plans.

But as you position yourself as the expert on the latter type (anyone can write a will, but this takes your special sauce), people will preferentially come to you. Then it's a matter of making sure your local offices can identify the people (current and prospective clients) who would be appropriate for your practice area and ask them if you can be in touch. Also, make sure your local people have a compelling package they can distribute to those who might be appropriate.

You could also train your local offices to do the client work for the will matters (perhaps with your review), and refer to your offices the complex planning work.

I'm probably more oriented toward the marketing than the internal process, but you need both to work to ensure you reach the people you want to serve.

Where you should start is by honing your presentation, and making sure the firm is aligned with your goal (which is what again?).

Start Inside

Starting at the top in your firm, make sure everyone has a plan appropriate for his current life situation. As you present and review personal inventories and design plans, listen really well for the concerns in the background and if you are addressing them: People remember how you made them feel, not what you did for them.

Take good notes and revise your presentations and materials to address people's concerns (don't want to confront death, think it will be difficult, don't want to argue with spouse, don't know who to leave kids with, etc.).

Also note places ripe for follow up.  When kids age up and out of a parent's plan, they may be aging in to your services. Don't overlook them.

When everyone in your firm goes home knowing that his family is taken care of if something happens, you've already got a powerful built in referral base.

I could go on for an hour, e-mail lists and follow-up marketing, and life-time value, and how to maximize, but I've got to get my own practice to better set up.

Best of luck.

P.S. If you'd like to look at your marketing to client flow, I invite you to schedule a call.

Making the best of a bad situation: Gyms

I visited the Concept II website today. I visit them most days to log my workouts. But there's a notice there now: They're out of stock on a lot of their machines. I'm guessing a lot of makers of home fitness equipment are running low as well.

And I thought of a friend who has a Concept II rowing machine in his basement that hasn't been used in a while. His son is long off the crew team and off to college now.

Another friend replaced his living room with a home gym because he can't get to his regular one. And while that seems a bit radical to me, we are living in strange times.

But I expect there are some who don't want a permanent gym at home, but they might want some equipment now. And who has it and isn't using it? And good equipment at that.

Right, putting two and two together, it looks like there is an opportunity here for Gyms to lease or sell their more portable equipment to their clients. I know my Concept II can travel without a problem.

It might also be an opportunity for Gyms to help their customers who have unused equipment at home to free up some cash. I hear bicycle shops are also selling well right now.

At the very least, it's an opportunity for you, or what staff you have left, to get in touch with your members, even former members, see how they're doing, and see if there's anything you can do to help them stay fit at home, or if they've got equipment they are not using, to help them help others through this time, or maybe even make a few bucks.

And if you are a little tech savvy, you can even create a buy/sell/swap page on your gym's website.

And if you manufacture equipment, you can do the same. I know Concept II is an amazing Corporate citizen, and I'm sure they've got a good list. There's more than one Concept II that's gathering dust after its short use by a prep school or college rower.

But as a lawyer, I have to leave you with a disclaimer: Make sure your insurance policies will cover you, or adjust the coverage, and that any equipment leases or agreements you have will allow this. Also make sure you are aware of and follow any guidelines to avoid SARS-CoV-2 (the COVID-19 virus) transmission while you are moving equipment.

I'm doing the same thing with my landscaping business. I feel I have to jump on the digital bandwagon in order to survive.

And if you are on the bandwagon, you are moving at the same slow speed as everyone else.

What you might want to figure out is your unique value proposition, what it is that makes your service more valuable.

Then you want to look at what might be an easy way in. Find something that people “need” to take care of in the spring, and offer that at cost in order to get in front of them, maybe a post winter gutter and downspout cleaning special, maybe a sidewalk power wash, maybe a salt-damage lawn restoration.

One, you want to get people to spend the first dollar with you. If they've done that, they are more likely to spend the second, and the hundreds to follow.

Two, you want to show them you are special, that you see details no other landscaper does or would. People are willing to pay for that.

Three, show them that you come to them. Get out on a Saturday morning. Go to home depot, buy twenty rolls of sod and some peat moss or top soil. Maybe some edging and a few miscellaneous garden tools, especially if there's one or two that you really like that most people don't know about. Find the people working in their gardens, let them know you are in the business, and ask them if there is anything they need. Provide any advice, sell any supplies, help them get it set up.

Maybe you also have a handout, “Five Pro Tips for a Greener Lawn” or something like that, branded at the bottom with your logo name and number, maybe an RF code to get on your landing page so they can get a new gardening tip every week throughout the year.

And if you can, get an e-mail and stay in touch. When they need, there will be only one address.

Julien Rocheblave

Your Foundation: The Three Pillars of any on-line Strategy

Maybe someone told you that you need a newsletter, or videos, or a blog or other things sounding even more exotic.

The truth is none of those will work without a solid foundation.

We'll start with the basics. Without these three in place, there simply is no on-line strategy.

These are like a heartbeat check. If you're not alive, there's no reason to start surgery.

1. Your Web Site
2. Your Social Presence
3. Your Reviews

Your Web Site

If you are here, you obviously have one. But can you see it on a smart phone? In 2017, 58.9% of internet usage was by mobile device.

You want your website actually talking to your customers, and especially addressing what they need. If your web site doesn't, it might just be a really expensive calling card. Ultimately you want your visitor to take the actions that grow your business, and your website should be designed to optimize that.

Your Social Presence

While there are many possible sources of traffic, and new ones seem to be popping up every day, your first stop should be Facebook. Pew Research shows that more than two-thirds (68% actually) of U.S. adults are on Facebook.

And according to TechCrunch, Facebook is now a major mobile browser in the U.S. with a 10+% market share in many states.

In other words, an active Facebook presence makes a difference.

Your Reviews

There is a sea of statistics about on-line reviews, but one should suffice: 92% of consumers now read on-line reviews. While you don't need 100% positive reviews, you should be on top of what your customers are saying, and be encouraging them to review you.

Next Steps

Just open your pages. Then open your competitors' pages. You want to notice which ones actually make you want to take a next step. Which look like "they are supposed to?" Do those make you want to call, or book an appointment?

Which actually give you value such that you want to continue a conversation? Which address your fears, or your customers' most basic fears? Which put you at ease? Which make you say "I'd like to meet this guy!"

Which make you laugh? Which make you feel like this is business owner who will take care of me?

And you'll start to see the kinds of things we or you can do to make sure that your website is doing what you would like it to, namely bring in the people you serve so you can take care of them, and put few, or better yet, a lot more dollars, in the bank.

And if you want my help, reach out.