Psychology plays an amazing role in the world of marketing and advertising. There have been countless studies on how a company presents itself affects the amount and type of business it brings in. It’s not all about a flashy ad, big numbers, and powerful statements. Law firm advertising campaigns need to reach the people on a whole different level because superficial contact doesn’t always cut it.
One of the strangest parts of legal marketing is deciding on how much to charge and what kind of profit a firm is looking for in each case. If your law firm prices are too high, no one will want to hire you even if you have a 100 percent success rate. If your prices seem too low, people might not think your skills are worth even a low rate.
The power of a single word
Think about this one word: CHEAP.
What kinds of ideas first come to mind? Language plays a big part in advertising, and it can be very confusing. Think about it regarding driving. If gas is cheap, that’s good! Things are going well, and you’re getting more distance for your buck.
If a car is cheap, hold on. What does “cheap” mean? Is it a good price or is it a cheap car? The person looking to buy a car is really going to think things over before buying a “cheap” car, whatever that means. And cars are something most people know about! Just think how this angle can affect legal marketing.
When a person looks for a lawyer online or in the Yellow Pages, they should know that having a quality lawyer is better than having a cheap lawyer. You can use this angle to your advantage, because some people have a “you get what you pay for” mentality, and charging more could actually bring in more and better clients. It sounds confusing, but the human brain is a confusing piece of machinery.
This is not to say that charging more will necessarily bring you more business. Prices should be based on the skill of the lawyer, the community he works in, the practice areas, and numerous other factors. This is just saying that if you advertise yourself as a cheap lawyer, people might see you as a cheap lawyer, and everyone loses.