Legal Tech Sales Strategies

Understand Your Target Market

Before any sales strategy can be put into place, it is important to understand who your target market is. Law firms can vary greatly in size, practice area, and level of technological sophistication, and it is important to identify the legal professionals that are most likely to be interested in your product. This will enable you to tailor your sales pitch to the specific needs of the law firm and increase the likelihood of a successful sale.

In addition to identifying where you fit in the legal market, it is also important to understand the decision-making process within law firms. Who makes the final decision on which software to purchase? Is it the IT department, or is it the managing partner? Knowing the answer to these questions can help you tailor your sales pitch to the specific needs of the law firm and increase the likelihood of a successful sale.

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Provide Excellent Customer Support

Legal technology can be complex, and it is important to provide excellent customer support to ensure that law firms are able to use the software effectively. This can include providing training resources, offering one-on-one support, and having a dedicated customer support team available to answer questions and resolve issues.

Providing excellent customer support can also help to build trust with the law firm and increase the likelihood of repeat business. Law firms are more likely to continue using software they feel comfortable with and know they can rely on for support.

Attend Trade Shows & Conferences

Attending trade shows and conferences is a great way to connect with potential customers and generate leads. These events provide an opportunity to showcase your software and educate law firms on the benefits of using legal tech software. They also provide an opportunity to network with other legal tech software companies and stay up-to-date on industry trends and developments.

When attending trade shows and conferences, it is important to have a well-designed booth and marketing materials that clearly communicate the benefits of your software. It is also important to have knowledgeable representatives on hand who can answer questions and provide demonstrations of the software.

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Utilize Analytics to Identify Leads

Dig deep into your email campaign analytics and identify who is engaging with your outreach. You can also track your social media engagement and reach out to the prospects that are actively interacting with your brand. 

For your email marketing, you can track metrics such as open rates, click-through rates, and conversion rates. By analyzing this data, you can identify which leads are most interested in your legal tech product and are more likely to convert into paying customers.

With regard to your website, you can track metrics such as traffic, bounce rates, and time on site. This information gives you a detailed breakdown of how visitors are interacting with your SaaS website. Then, you can use this data to optimize the website for lead generation and identify prospects who are most interested in your product.

Your legal tech marketing and sales teams should be aligned where their common goal is to drive the highest ROI on your strategy efforts across the board. If your analytics are showing some weak points in your marketing efforts, you need to make sure you pivot your strategy and improve those areas to drive more leads. You can make adjustments to your messaging, timing, or target audience to yield better results.

Leverage Social Media

Social media can be a powerful tool for reaching potential customers and generating leads. Legal tech software companies can use social media platforms like LinkedIn, Twitter, and Facebook to share updates, industry news, and customer success stories. This can help to build brand awareness and establish the company as a thought leader in the legal tech industry.

Social media can also connect with potential customers and engage in conversations about the benefits of legal tech software. Companies can use targeted advertising to reach specific demographics and generate leads. 

When your business actively shares more about your product and the results it yields, you potentially reach more of your target audience that may not have heard about your company without discovering you on social media. 

LinkedIn is particularly a good place to conduct cold outreach to businesses and professionals that fit within your targeted buyer persona. Do your research through LinkedIn Sales Navigator and discover even more potential customers that could benefit from your services.

Partner with Complementary Companies

Partnering with complementary companies can be a great way to expand your reach and generate new leads. For example, a legal tech software company that provides document management software could partner with a company that provides e-discovery services. This can provide a more comprehensive solution for law firms and increase the value of both companies' offerings.

When partnering with other companies, it is important to ensure that the partnership is mutually beneficial and that both companies are aligned regarding goals and values. It is also essential to establish clear guidelines for the partnership and establish open lines of communication. Partnerships can expand what you offer to your target audience if you're looking to make your services more appealing where you have a more all-in-one platform.

Focus on Customer Retention

While generating new leads is important, it is equally important to focus on customer retention. It is typically easier and less expensive to retain existing customers than to acquire new ones no matter what industry you reside in.

To retain customers, legal tech software companies can provide ongoing support and training, regularly communicate updates and new features, and offer incentives for customers to renew their subscriptions. Companies can also gather feedback from customers and use this information to make improvements to the software.

You can also find areas in which you can upsell to your current customer base. Maybe you notice a business utilizing a certain feature frequently or they're trying to add more users to their account. This is where you can offer to upgrade their plan in some way so that they get more of the features that they're in need of. 

Emphasize Security & Compliance

Security and compliance are critical concerns for law firms, and legal tech software companies should emphasize their commitment to these issues. Companies should conduct regular security audits and implement best practices for data privacy and protection. They should also be transparent about their security practices and be willing to provide customers with information on how their data is being protected.

Legal tech software companies should also ensure that their software is compliant with relevant regulations, such as GDPR and CCPA. This can help to build trust with law firms and increase the likelihood of a successful sale. So, make sure this is an important attribute of your software that you're communicating to new prospects.

Key Takeaways

Legal tech software sales can be challenging, but with the right strategy in place, companies can succeed in this competitive market. Technology in the legal industry is still rather new and evolving with the needs of businesses in this space. Gartner even predicts that legal firms will triple their spend on technology solutions. Your legal tech company can capitalize on this and convert prospects into paying customers as long as you recognize your audience's pain points and reach them through the channels that they frequent the most.