It seems like Sam Bernstein and family are EVERYWHERE these days. They advertise constantly on TV and I see their billboards all over metro Detroit. Do you think Sam or one of his three offspring will personally handle every case? Of course not. That advertising must generate thousands of leads. They created a process and hired people to screen those leads, legal assistants to meet with the likeliest prospects and a cadre of lawyers who handle those cases that appear to be profitable.
The Bernstein Law Firm undoubtedly had a plan and timetable so they could ramp up their staffing as their advertising generated business, and you can bet that it does generate business.
Have you set a sales goal for next year? How much more money do you want to bring in? Five percent? Ten? Twenty?
If your goal is anything other than “business as usual,” what are you going to do differently? You’ll have to expand your capacity – more people, more inventory, more space — and you’re definitely need to market more aggressively. TV and billboard advertising may not be work for you like they work for the Bernsteins, but you really do have to spend money to make money. It differs based on your industry, but think about budgeting to spend 10 percent of your gross sales on marketing.
(This item was inspired by a discussion with Novi Economic Development Director Ara Topouzian. Thanks, Ara!)