For law firm partners, as well as entrepreneurs, especially those in the legal field, conferences can be some of the best opportunities to network and build relationships that will be mutually beneficial to your business. Not only do they provide an excellent chance to make connections with potential clients, but they also offer you an opportunity to look like a valuable contributor within your industry. If you’re thinking about sponsoring an international legal conference for law firms and attorneys, here are some reasons why it’s the best idea for your business.
Attracting New Clients
There are different ways that your business can attract new clients, and if you’re trying to get new clients who are in need of legal help, sponsoring a legal conference is an excellent option. Attending conferences and speaking at them allows you to establish yourself as an expert in your industry, as well as allow you to connect with potential clients.
If you choose to sponsor a law summit, there are plenty of ways that it can benefit your business. By attracting new clients through sponsorship, you may be able to grow your business faster than ever before.
Professional Image Boost
One of the best ways to stay up-to-date on developments in your industry, while building relationships with clients and colleagues, is to attend law summits, such as the Law 2.0 Conference.
Attending these conferences allows you to learn about trends that could impact your business and connect with other people who are doing similar work in different cities. Law firms can gain an image boost by sponsoring these events, which gives them an opportunity to speak directly with attendees and promote their services, thus gaining exposure for their name and brand in front of influential members of the legal community.
Differentiating Yourself From Competitors
Law summits are one of the best ways to distinguish yourself from your competitors. When you sponsor an event in which you hope to reach out to hundreds, or even thousands, of prospective clients, it’s important that you make yourself stand out. By sponsoring a Law Summit, you know your name will be mentioned during opening remarks and throughout intermissions. Potential clients will feel like they have seen your name enough times to trust that it has some weight behind it when they are ready to sign with a new law firm.
The 4 Ps of Legal Marketing
Before getting in touch with a law summit organizer, it’s worth knowing why you want to sponsor a legal conference and what that sponsorship can offer your business. This is where your marketing acumen will come in handy. Essentially, there are four Ps of marketing: Product, Place, Price, and Promotion.
When sponsoring a legal conference, you need to focus on all four areas if you want to get value from your investment. For example, while most conferences focus on place (i.e., they hold events at fancy hotels), offering more than just an event space means providing something extra or different that attendees can take away from their experience at your event. If you run an e-commerce website for attorneys, focusing on your product (the website) is paramount; after all, sponsorships should bring tangible benefits back to your company!
On top of that, price comes into play as well. The price point for a sponsorship varies wildly depending on factors like who is attending and how many other companies are also sponsoring—but these considerations can help guide your decision.
Finally, don’t forget about promotion. Even though some types of promotion aren’t quite so straightforward, especially when dealing with specific industries like law firms, do everything you can to make sure your brand gets out there and resonates with attendees.
Link Building Opportunity
One benefit of sponsoring an event or conference for lawyers is that it gives you valuable link-building opportunities. Post your logo on brochures, flyers, and other pieces of printed collateral which will be left behind at the event. This can make a lasting impression on potential customers who may attend future events at your facility.
Alternatively, use your conference sponsorship as an opportunity to do some creative social media marketing and share pictures from inside your office or building on Twitter, Facebook, and other channels. You could even create a hashtag specific to your brand, like #WeAreLaw2.0EventSponsors.
You’ll also have plenty of time during breaks in between sessions to meet attendees and hand out business cards. The more personal interactions you have with potential clients, the better chance you have of converting them into actual clients!
Return on Investment (ROI)
ROI, as it relates to sponsorships, is simple—it’s all about calculated exposure. Calculate how much you’re willing to spend on your sponsorship and divide that number by your anticipated ROI (ie, how many new clients or customers will you get from being seen or spoken about at an event).
Make sure sponsorships won’t detract from your brand in any way (eg, if it makes your company look bad) and choose what kind of exposure best suits your business needs. For example, if you want to reach potential clients who are looking for legal advice, sponsoring a conference with legal speakers might be more effective than sponsoring an art show.
This also applies to size: If you’re looking to draw attention from small businesses or local companies, sponsoring a local sports team might be more effective than paying big bucks for national advertising.
Return on Attention (ROA)
ROA stands for Return on Attention. When measuring ROA, it’s important to have an understanding of real-time value vs. retrospective value. Real-time values are easier to measure and are the results of present actions. Retrospective values are harder to measure but look at potential future results from past actions.
For instance, if you saw an ad in print today, then immediately decided to buy something, that would be real-time value. If you see an ad in print and decide to buy something a week later, that would be retrospective value. It’s also worth noting that ROI (Return on Investment) can sometimes fall under ROA (Return on Attention). They are very similar metrics but differ slightly depending on how they are calculated.
Sponsoring a conference can make your brand look legitimate in your industry and can get you noticed by potential clients. You get free press and have people talk about your company in ways that you may not have been able to if you just sat back and waited. This brand recognition alone will lead to more business opportunities coming your way. Plus, it’s a great networking opportunity with other professionals in your field. It’s also an excellent chance to give back to others who may be looking for help with their own legal issues.