To understand the value of InMarket Targeting, you must think regarding strategy, and you must carefully consider what you, as a personal injury attorney wants.
Many lawyers only think regarding “beating their competition"—of being the best, or at least better than the other guy, who they see as their main competition.
In reality, it’s not about being “the best.” It’s about winning more profits.
It’s about a way to get from where you are now as a law firm, to where you want to be.
- Getting from A to B requires a specific strategy... A way to win.
- In this case, the strategy must be a way to win higher profits.
- To win higher profits, you must overcome the things that steal profits from EVERY BUSINESS. You must overcome the 5 Forces every attorney competes with for profits (Rivals, Alternatives, Powerful Buyers, Powerful Suppliers, New Entrants).
- These 5 Forces are the things in between A and B. They are the only things keeping you from getting from where you are, to where you want to be. For some companies and in some verticals, this MAY be a rival (direct competitor), but it’s just as likely that it’s not—that it’s a powerful buyer, or powerful supplier, or something else. Think in these terms—what is TRULY keeping you from winning higher profits? It may be just one of the 5 Forces or it may be many. Which is it for YOU?
- To overcome the 5 Forces, you must focus your limited resources so that they give you the best chance of executing your strategy—the way to get to higher profits.
- So your resources should be focused on prospects who are most likely to buy because those prospects are the quickest and surest path to profits.
- And prospects who are most likely to buy are prospects who are aware that they have a problem.
Why is that? Because until you’re aware you have a problem, you don’t seek a solution.
It makes no sense to market to prospects who aren’t aware of their problem, because they aren’t in search of any solutions. And if they aren’t searching, they won’t buy.
Prospects who ARE aware that they have a problem follow a predictable set of steps in their search for a solution, which THEY determine, not us...
- They research the problem to define its scope
- They research possible solutions (their alternatives)
- They evaluate those alternatives
- They justify their decision
- They make a final selection
This process starts online...ALWAYS.
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