Three Ways to Make the Most of Estate Planning Awareness Week

Estate Planning Awareness Week is just around the corner. According to the caring.com 2024 Wills and Estate Planning Study, 64% of Americans say that having a will is important, yet only 32% actually have an estate plan. Now more than ever, attorneys must dedicate time to educating their communities about estate planning and addressing the misconceptions that may keep many Americans from realizing the value and legacy preservation that a proper estate plan can bring them. In addition to providing a complimentary marketing package to help you get started, we are sharing three ways you can market your practice and get the conversations going. 

1. Connect with new clients on social media.

Social media is a powerful tool and a relatively inexpensive way to engage with potential and existing clients. While many attorneys may shy away from social media because they think it will take too much time or they feel overwhelmed and do not know where to start, creating a social media plan can quickly alleviate these worries. 

Attorneys should start by creating a profile that defines their ideal client. How old is the ideal client? Does the client have a family? Is the client a working professional? Understanding who your ideal client is will help you intentionally craft your marketing message and dictate where and how you will engage with prospects on social media. For example, Facebook, Instagram, and X (formerly Twitter) are often better at reaching the general public than LinkedIn. If you want to connect with business clients and share your industry knowledge, LinkedIn and X may provide you with the best opportunities. 

Regardless of whether you choose email, Facebook, Instagram, X, or LinkedIn, it is important that you remember that all of these are two-way communication channels. Responsiveness can be the difference between a potential client choosing you over the competition. Check out our 2024 Estate Planning Awareness Marketing Package for additional information on this topic. 

2. Cultivate and train your professional network.

We all recognize the value of referral sources and their role in helping advance an estate planning professional’s marketing efforts. All referral sources are not created equal, however. While one may readily refer, another may be detached or disengaged or expect you to return the favor. If you have invested the time and energy in building your referral network but are less than satisfied with the results, below are some practical steps you can take to improve your referral quotient.

• Communicate often. It is important to remember that a successful referral network is not maintained by one-and-done interactions. Like all relationships, these need to be developed and continually nurtured. Stay top-of-mind with regular check-ins or meetings; aim to schedule your next meeting or interaction during this time. This process could consist of monthly emails or newsletters, followed by phone calls or virtual presentations. Whatever medium works best for your referrals, do it! Just do it often and regularly. Remember, too, that specifically tailored touchpoints work better than general communications. If you know that a referral source loves to golf, you may want to ask them how their golf game is going when you talk on the phone. If the referral source is particularly interested in the developments around the SECURE Act or other legal issue, then consider forwarding them an article you come across discussing that topic.
  
  
• Demonstrate your value. Regular communication is great, but it is not enough to foster a strong referral relationship. If you are going to stand out from the competition, you must dedicate time to educating your referral sources on precisely how your services are unique and can positively impact them and their clients. Offering virtual client meetings or seminars and sharing marketing kits (for example, client handouts) is a great way to demonstrate the value you offer to your referral sources. 
  
  

We can help you communicate regularly and demonstrate the value of your practice with Marketing Source. Learn more about this resource here.

• Train your sources. One of the most important steps in marketing and client development is educating your referral sources on how to properly make a referral—one that ensures success. Train your sources to proactively schedule the initial meeting with the client. If a client is meeting with the advisor and expresses interest in meeting with an estate planner, encourage the advisor to strike while the iron is hot and reach out to your office to schedule the meeting right then and there. Depending on the circumstances, you may even invite the advisor to attend the initial consultation meeting after getting approval from the prospective client. Set aside specific days and hours in your week for precisely these valuable initial meetings.

Whatever systems you employ, keep the lines of communication open between you and your referral sources and communicate regularly. When you meet, be sure they understand your process and how it can benefit them and their clients. Your referral network is one of your most valuable assets. Actively managing and nurturing this asset will help you optimize your practice-building efforts, increase your referrals, and reach your goals.

3. Build a client-care program.

Estate Planning Awareness Week is not just about educating potential clients to drum up new business. In fact, your most readily available resource may be those who already know the value of your services: your current and past clients. One way to reengage clients is to offer a client-care or maintenance program. 

What your client-care program looks like depends on the needs of your clientele. Some practices offer a client-care program that includes the complimentary review of a client’s estate plan every few years. Alternatively, in exchange for an annual fee, some practices offer membership programs that include biannual estate plan reviews, trust funding, phone calls with clients’ certified public accountants and other financial advisors, minor changes to estate planning documents, free instructional meetings for successor trustees, and more.

There are many reasons why now is a great time to implement a client-care program. For clients, a client-care program provides opportunities for clients to keep their estate plans up-to-date thus increasing their peace of mind. In turn, client-care programs help keep you top of mind (increasing the likelihood of the client referring you to their friends and family) and can provide additional sources of revenue for the attorney (through either plan updates that the client pays for as a result of the complementary review meeting or recurring annual revenue if you have a membership-based care program) . 

Whatever you decide to offer in your client-care program, it is an essential step in enhancing and maintaining relationships not only with the client but also with the client’s family, fiduciaries, and advisors.

WealthCounsel’s Marketing Source subscription has helped thousands of attorneys with their marketing efforts. Our marketing packages are full of customizable content to help you build and maintain long-lasting relationships with your clients and referral sources. As a Marketing Source subscriber, you will receive a monthly marketing package that contains grab-and-go presentations, newsletters for clients and advisors, handouts and visual aids for clients and advisors, as well as blog posts, social media posts, help with marketing best practices, and much more! Talk to a representative now to learn more.