Bankruptcy Marketing to Former Bankruptcy Clients
If your bankruptcy practice is like mine, you meet many people each week who want to discuss their financial condition. Some of these people you retain as clients and some walk out the door. The clients you retain work with you for several weeks as they gather the financial information you need to draft their bankruptcy petitions. They pay you and your staff to prepare the case and you and your staff invest time and energy into them educating them on the bankruptcy process.
Together you develop a case to present to the bankruptcy court and the bankruptcy trustee. You and your client file the petition and attend the meeting of creditors together. By this point you have done your education for the clients and they know about the bankruptcy process much more than most non-lawyers. They receive their discharge and then you never hear from them again.
All the time, effort and knowledge you imparted is never used again.
The analogy can be drawn to a young person who comes to your office for his first job out of college. You train him, teach him and guide him in the lawyer skills. Slowly he begins to learn the process as you show him the ropes. soon he has several months of your wisdom and then he chooses to find another job. When he leaves he takes the time effort and knowledge you imparted with him. You will not benefit from the education you provided him because he now works for someone else.
The same can be said with your former clients. They know you and your process and they understand what you do. These people know, trust and are comfortable with you and your systems. They have the knowledge of the bankruptcy process you taught them. These people may never use that knowledge again unless you ask them!
Bankruptcy law prevents a chapter 7 client from receiving a discharge more than once every eight years. However these former clients may know other people in their similar situation. What better people to become your defacto sale force than the former clients that we have. These people have gone through the bankruptcy process themselves and can empathize with people’s financial situation. They have been taught by you your policies and procedures and they are comfortable with you and your staff.
These are the people to market to as they may have family and friends that are in need of your services. Here is way to market to these people.
1. Before the meeting of creditors ask the client if she has family or friends that may need to talk about filing bankruptcy. This plants the seed in the client’s mind that you can help other people beside them. Up until this point, the client has only been focusing on her problems and the directions you have been giving her on the process. Now is the time to open her view of you and your firm. The client is receptive to what you say because she wants to go through the process smoothly.
In effect you are teaching her more about your firm to build up her knowledge base.
If you would like more ideas on bankruptcy marketing and my new book “The Bankruptcy Attorney’s Marketing Guide”
Check out my new website at www.buildyourbankruptcybusiness.com