When it comes to professional services, the primary purpose of marketing is to generate leads resulting in opportunities to be in front of qualified prospects. However, you also want your marketing to generate marketing equity, to have “pre-sold” you and your firm. You want every prospect you meet to already know that you are the clear choice based on factors that distinguish you from your peers, such as your knowledge of your prospect’s industry or understanding of their particular target demographic. You also want them to understand why you warrant a higher fee than the firm next door.

In marketing, there is a concept called “brand equity,” which is the difference between the price the consumer or client will pay for a brand name product or service above that of a comparable generic. While there is much talk about branding among attorneys, there is a limited number of firms that have the resources to become “household” names. Many former big-firm, or brand-name, lawyers have formed small firms or ventured out on their own. Now they face the uphill task of persuading prospective corporate clients that because of their large firm experience and small firm pricing, they are a smart, and more importantly, safe choice, i.e., that their clients are not damaging their company careers if things don’t turn out as hoped.

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