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Sorry Fred, it’s about drawing a dime

dime

At my old law firm (yes, that semi-prestigious law firm in Long Island), we had a law firm administrator. What he administered, I really had no idea. I’m still waiting for him to help me with growing my practice after he promised 9 years ago. This fellow was very good at talking about ways to improve the way we did business at the firm, but did very little to actually getting it done. While acting as the gateway to the Managing Attorney, he really was just a snitch. Since he had the Managing Attorney’s ear, he was given way too much leeway in monopolizing the time of our marketing department in producing his own articles for distribution. The marketing department didn’t they could afford in saying no to Fred.

My dispute with that (of course after I left the firm) was that these articles weren’t going to draw a dime for the firm because we were in the practice of law and not law firm management. Of course, I mentioned this waste of resources in a few of my articles and this law firm administrator never wrote another article that the firm published before leaving. Sorry, Fred.

When it comes to marketing services as a retirement plan provider, your marketing has to have the intent that it will draw a dime. You’re in business and some articles unrelated to your business are of little use and a waste of resources and time. It shouldn’t be about over commercializing what you do, but an explanation of what you know. Materials that make your audience think and giving them some good sound advice is going to get interest about your firm and the services you offer. The days of getting your name in the newspaper isn’t going to cut it anymore. Social media is the online dissemination of business ideas that is hugely cost effective and can have wide ranging, positive results. A recent article I wrote about not using cheap plan providers just got me an invitation to a very nice speaking engagement in the spring.

As long as you know your audience, half the battle is already won. Writing the content that will help spread the word about your firm around is the other half. Just remember that your efforts need to help draw you a dime.

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