Yoda, Alternative Fee Arrangements and Attorney Marketing
In Star Wars, Yoda was involved in training a young Jedi to defend the galaxy from The Empire. During the course of that training, the master offered some sage advice: “Do or do not. There is no try.”
There are many ways the concept of “do it or don’t do it” comes into play in attorney marketing. Alternative fee arrangements offer one example.
Offering alternative fee arrangements to clients is something that a lot of smaller and medium-sized firms have been doing because their overhead is lower and they tend to have more flexibility than the larger firms. These alternative fee arrangements along with the advantage of having enhanced talent who have chosen to work in their venues and practices become a part of their attorney marketing message. Larger firms are also adopting alternative fee arrangements because their clients are asking for them, but bureaucratic oversight can slow the process down.
The time to debate alternative fee arrangements is over – either do it or don’t – but remember this: whether you’re addressing financial needs or other elements of client care, focus on what your clients want – then make sure you’re giving it to them – and they’ll reward you with word-of-mouth marketing and referrals that will grow your practice. Client retention should always be a part of your law marketing plan.
