Handling the closing for a new home has been traditionally a tactic for lawyers to develop business. The jittery home buyers frequently feel grateful to the lawyer for leading them through the legal mine field. At that end, they have their new home. For doing their will or later suing the roof contractor for whatever, they will tend to return to that same lawyer.
Now that way to prospect for clients is less likely. As USA Today reports, in March 2014, the sales of new homes went into free fall. They nose-dived 14.5%. The main factor has been interpreted to be the lack of affordability, both in the price of the property and in the rate of the mortgage. Here is the coverage.
So, what are lawyers to do? One proven approach is to get the hang of social media. This means experimenting with what channels are effective. Not all are for each unique law practice. Blogging and tweeting may bring in business for an immigration firm. On the other hand for personal injury the channels which have the greatest impact could be YouTube and Facebook. Then those have to integrated seamlessly into the rest of the marketing mix, including presenting seminars and providing complimentary consultations.
The challenge in marketing in law, as well as much of professional services, is that there are no longer right answers, at least not for long. The game demands continual deep digs into what could work. For example, I was stunned how productive customized pitches sent email has been for developing new business for my communications boutique. There I have been piggybacking on the recommendations provided in "What Color Is Your Parachute?"