Glossary

Legal Marketing Glossary

Legal Magazine Glossary: The largest source of legal sales and marketing terminolog

Terms Starting by: A

ACCA: See “American Corporate Counsel Association” (Learn more in Legal Magazine marketing articles)

ADR: See “Alternative Dispute Resolution” (Learn more in Legal Magazine marketing articles)

Advertising: A public notice communicated through the various media designed to attract public attention and/or influence the purchasing behavior of a particular audience. (Learn more in Legal Magazine marketing articles)

ALA: See “Association of Legal Administrators” (Learn more in Legal Magazine marketing articles)

Alternative Dispute Resolution (ADR): Refers to any means of settling disputes outside of the courtroom. ADR typically includes arbitration, mediation, early neutral evaluation, and conciliation. The two most common forms of ADR are arbitration and mediation. (Learn more in Legal Magazine marketing articles)

Alternative Fee Arrangements: Client demand, value and economics have resulted in a rise in billing arrangements other than the straight billable hour. Alternative fee arrangements include: incentive fee arrangements; task-based fees; flat fee billing; and value billing. (Learn more in Legal Magazine marketing articles)

American Corporate Counsel Association (ACCA): An organization that represents almost 11,000 in-house lawyers. It is one of the primary sources for information about the corporate legal profession. ACCA’s membership represents over 4,600 companies throughout corporate America. (Learn more in Legal Magazine marketing articles)

Applet: An applet is a small program that rides on top of other applications like your web browser and magically produces everything from real time stock tickers to animation. (Learn more in Legal Magazine marketing articles)

Application Service Provider (ASP): A company that lets you rent software. And, rather than load it on your own computer, the ASPs keep the software and give you access to it through the Internet. You pay a nice low monthly fee and they fix the kinks and make sure you always have the latest and greatest versions. (Learn more in Legal Magazine marketing articles)

Arbitration: Arbitration is a simplified version of a trial involving no discovery and simplified rules of evidence. Either both sides agree on one arbitrator, or each side selects one arbitrator and the two arbitrators elect the third to comprise a panel. Arbitration hearings usually last only a few hours and the opinions are not public record. Arbitration has long been used in labor, construction, and securities regulation, but is now gaining popularity in other business disputes. (Learn more in Legal Magazine marketing articles)

ASP: See “Application Service Provider” (Learn more in Legal Magazine marketing articles)

Association of Legal Administrators (ALA): A professional association of law firm and corporate law department administrators and managers. (Learn more in Legal Magazine marketing articles)

Assumptive Close: A closing technique in which a seller assumes the prospect wants to make a purchase. Examples of an assumptive close include: “we’ll begin work on Friday”-or, “where would you like the product delivered?” Assumptive closes work best when the seller has spent considerable time asking questions and learning about the prospect’s business. If the seller successfully identifies and clarifies the prospect’s objectives, the assumptive close becomes the only logical way to end the conversation. (Learn more in Legal Magazine marketing articles)

Terms Starting by: B

Bandwidth: The amount of information that can move across an electronic communications system. Anyone who’s tried to download a picture or complex graphic from the Internet, and waited several minutes for the download, has experienced low bandwidth. (Learn more in Legal Magazine marketing articles)

Banner Ad: Banner ads are one of the most widely used, albeit largely unproven, forms of online advertising. Sizes and styles vary dramatically, but the average banner ad is about 1 inches high and 4 inches long and can contain anything from plain text to detailed images, complicated animation and special effects. Like traditional forms of advertising, banner ads are part of the branding process and they help develop name recognition. Unlike traditional advertising, they also allow interested viewers to take immediate action by clicking on the banner ad (“clicking through”) and linking directly to the advertiser’s Web site. Unfortunately, only about .3% to .5% of the people who view banner ads actually click through. Even most direct mail campaigns manage to eke out a 2% response rate. (Learn more in Legal Magazine marketing articles)

Beauty Contest: See “Road Show” (Learn more in Legal Magazine marketing articles)

Benchmarking: A performance measurement tool used in conjunction with improvement initiatives to measure comparative operating performance and identify Best Practices. (Learn more in Legal Magazine marketing articles)

Best Practice: A way of functioning at any level of operation, internal or external, that produces superior performance and results. A best practice could range from answering a phone to running a company. (Learn more in Legal Magazine marketing articles)

Bookmark: Saving the addresses of a web site on your browser for easy, one click access. (Learn more in Legal Magazine marketing articles)

Branding: Branding is the process by which an organization develops and communicates its identity. This includes everything from creating a name, a logo and a slogan to reorganizing internal operations and external communications such that they comport with the organization’s desired position in the marketplace. Branding is often described as an evolving story as successful brands take years to develop and require periodic adjustments to the changing demands of the marketplace. (Learn more in Legal Magazine marketing articles)

Bricks-and-Mortar: Businesses that only service customers in the physical world-not online. (Learn more in Legal Magazine marketing articles)

Broadband: A communications network on which a frequency range is divided into multiple independent channels so that we can talk, send documents and watch each other-all at the same time. (Learn more in Legal Magazine marketing articles)

Browser: A computer program that you use to surf and interact with the World Wide Web. The two most common: Netscape Navigator and Microsoft Explorer. (Learn more in Legal Magazine marketing articles)

Business-to-Business (B2B) E-Commerce: When businesses buy products and/or services on the Internet from each other. The best example is Cisco Systems (CSCO)–the biggest supplier of “plumbing” to businesses on the Internet. Cisco is a multibillion-dollar business that makes over 75% of its sales over the Internet. (Learn more in Legal Magazine marketing articles)

Business-to-Consumer (B2C) E-Commerce: When individual consumers buy products and/or services on the Internet from online businesses. The most obvious example is Amazon.com (AMZN) which sells everything from books and music to toys and electronics. (Learn more in Legal Magazine marketing articles)

Terms Starting by: C

Call to Action: Order Now! Click Here! A call to action is the part of an advertisement that implores the person receiving the message to act. (Learn more in Legal Magazine marketing articles)

Chat Room: Like a message board in real time, chat rooms are places where you can engage in live on-line conversation. In most chat rooms, people communicate by typing messages. However, some sites are beginning to offer voice capabilities.(Learn more in Legal Magazine marketing articles)

Churn: The rate at which clients leave or stop using a service. (Learn more in Legal Magazine marketing articles)

Classified Advertising: A relatively inexpensive form of advertising that is arranged according to categories or interests and found in various media such as newspapers, magazines, trade publications and Web sites. (Learn more in Legal Magazine marketing articles)

Clicks-and-Mortar: Businesses that service customers both online and in the physical world. (Learn more in Legal Magazine marketing articles)

Click-Stream: The path visitors take as they navigate through a Web site. Good Web site analysis tools document this activity. (Learn more in Legal Magazine marketing articles)

Click-Through: Also called ad clicks or requests, this is the process of linking to an advertiser’s Web site by clicking an ad on the current Web site. Advertisers like to keep tabs on the “click rate” which tracks the volume of ad clicks versus the time each ad is viewed. (Learn more in Legal Magazine marketing articles)

Client: An individual or an organization that is using or has agreed to use the products and/or services of another. Some companies do not call a prospect a client until the prospect pays its first bill. (Learn more in Legal Magazine marketing articles)

Client Interview: The process of meeting with a client to gather information. Client interviews can have many purposes such as gaining an understanding of the client’s business; discussing and addressing any client concerns or service related issues; and identifying and capitalizing on opportunities to generate additional business from the client. (Learn more in Legal Magazine marketing articles)

Client Survey: The process of assessing a client’s satisfaction with the service they receive. The service provider, another member of the service provider’s organization, or an outside consultant can conduct a client survey in writing, by telephone or in person. Regardless of who conducts the survey, in-person surveys are preferred. (Learn more in Legal Magazine marketing articles)

Close: The process of consummating a sale or an agreement-or, of getting to the next step in the sales process. In either instance, through a series of targeted questions and clarifications, the salesperson persuades the prospect to take action.(Learn more in Legal Magazine marketing articles)

Cold Call: Initial contact (usually by telephone), with an unknown individual to schedule an appointment or to solicit business. While the cold call is one of the most dreaded sales activities, it is also one of the most efficient ways to determine whether or not the individual in question is qualified and willing to move through the sale cycle. (Learn more in Legal Magazine marketing articles)

Contact Management System or Contact Manager: A method for quickly recording, managing, retrieving and analyzing prospect and client information. Often used to describe software applications that allow sales professionals to automate these important activities. (Learn more in Legal Magazine marketing articles)

Convergence: In recent years, there has been a movement by many corporations toward retaining fewer law firms. This approach is sometimes called “convergence”. The theory behind convergence is that a corporation will enjoy more productive relationships with law firms if a smaller number of firms learn the corporation’s business and develop the ability to provide proactive assistance to the corporation. Such relationships can provide other benefits, such as volume discounts on legal bills and lessened managerial and administrative burdens on the corporation from working with fewer firms. (Learn more in Legal Magazine marketing articles)

Cookie: A file stored by some browsers on the user’s local PC. It can be used by the server that generates it to identify the user, track his/her activities on the server, and allow instant customization of the user’s experience. (Learn more in Legal Magazine marketing articles)

Cost-per-click (CPC): A fee structure for Web-based advertising in which advertisers are only charged when viewers click on their ad. CPC fee arrangements are popular with advertisers because they do not have to pay for the brand awareness and familiarity that their ads generate in the minds of viewers who do not click-through. For the same reasons, CPCs are not popular with those who sell the advertising. (Learn more in Legal Magazine marketing articles)

Cost-per-thousand Impressions (CPM): This is the measurement tool that advertisers use to determine the relative value of different media buys. CPM equals the cost of an ad (e.g., $10,000) divided by the total estimated viewership/subscriber base or, on the Web, the number of actual ads served (e.g., 100,000) multiplied by 1000. In this example, CPM equals ($10,000/100,000) x 1,000, or $100. In arriving at the CPM calculation, it is important to note that advertisers can only estimate the number of times an ad is seen offline. On the Web they know precisely because they can use the number of actual ads served. (Learn more in Legal Magazine marketing articles)

CPC: See “Cost-per-click” (Learn more in Legal Magazine marketing articles)

CPM: See “Cost-per-thousand Impressions” (Learn more in Legal Magazine marketing articles)

CRM: See “Customer Relationship Management” (Learn more in Legal Magazine marketing articles)

Cross-Selling: To increase the value or quantity of a sale by recommending complimentary products or services. For professional service firms, cross-selling is also used interchangeably with “cross-servicing” to describe the process of providing existing clients with additional services from new practice areas. (Learn more in Legal Magazine marketing articles)

Cross-Servicing: Increasing the value of a relationship by providing existing clients with additional services from new practice areas. (Learn more in Legal Magazine marketing articles)

Customer Relationship Management (CRM): A business strategy built around the customer that is designed to enhance revenue and improve service. CRM involves more than the implementation of new technology. It is a complex interplay of strategy, tactics, processes, skill sets and technology. (Learn more in Legal Magazine marketing articles)

Cyberspace: Coined by author William Gibson in his sci-fi novel Neuromancer (1984), cyberspace is a metaphor used to describe the areas of the non-physical world created by computers and the Internet. (Learn more in Legal Magazine marketing articles)

Terms Starting by: D

Data Mining: A technique to analyze data in very large databases. Analysis can reveal trends and patterns and can be used to improve vital business processes. (Learn more in Legal Magazine marketing articles)

Depth of Sale: The degree to which a sales professional and his or her primary client contact have developed additional relationships with members of their respective organizations. Also, the degree to which an organization capitalizes on the opportunities available within its client’s business. (Learn more in Legal Magazine marketing articles)

Differentiation: A situation where a particular company or brand is perceived as unique or better than its competitors. (Learn more in Legal Magazine marketing articles)

Direct Marketing: A promotion delivered directly and individually to a prospective client. Examples of direct marketing include mail order, door-to-door selling and telemarketing. (Learn more in Legal Magazine marketing articles)

Dog and Pony Show: See “Road Show.” (Learn more in Legal Magazine marketing articles)

Domain Name: A name that identifies an Internet address. The domain name for Sugarcrest is Sugarcrest.com. See “URL.” (Learn more in Legal Magazine marketing articles)

Download: Commonly used to describe the process of copying an online file or a network file to your own computer. (Learn more in Legal Magazine marketing articles)

Terms Starting by: E

EBITA: Earnings before interest, taxation and amortization. (Learn more in Legal Magazine marketing articles)

80/20 Rule: The principle that 80 percent of sales volume for a product or service is generated by 20 percent of the customers. (Learn more in Legal Magazine marketing articles)

Electronic Commerce (e-commerce): Conducting business online. (Learn more in Legal Magazine marketing articles)

E-tailor: A business that sells retail goods online. (Learn more in Legal Magazine marketing articles)

E-service: Online customer service. (Learn more in Legal Magazine marketing articles)

eXtensible Markup Language (XML): See “XML” (Learn more in Legal Magazine marketing articles)

Terms Starting by: F

FAQ (Frequently Asked Questions): Pronounced as separate letters or as fak. A list of questions and answers about a particular topic. A FAQ is often found on Web sites and in software application manuals to help users get answers to their questions without live client support. (Learn more in Legal Magazine marketing articles)

Federal Trade Commission (FTC): The federal agency that has the primary responsibility for protecting consumers and business from anticompetitive behavior and unfair and deceptive practices. (Learn more in Legal Magazine marketing articles)

Flat Fee Billing or Fixed Fee Billing: An alternative fee arrangement where an attorney and his or her client agree in advance on the fee that will be charged for handling a matter from the beginning to end. Sometimes, flat fee billing is used for only part of a matter, such as agreeing to a fixed fee for conducting a certain number of depositions. This option works well where there is a high volume of similar matters with approximately the same time and costs involved. (Learn more in Legal Magazine marketing articles)

Focus Groups: A qualitative research method whereby a group of 10-12 people are led through a discussion regarding a particular topic such as a product, service, or advertising campaign. (Learn more in Legal Magazine marketing articles)

FTC: See “Federal Trade Commission” (Learn more in Legal Magazine marketing articles)

Terms Starting by: G

Gatekeeper: An individual within an organization who controls access to decision-makers and/or who serves as the point person for group purchasing decisions. Whether or not the gatekeeper’s status is formally recognized within his or her organization, a professional must often win the confidence and trust of the gatekeeper before he or she can meet with high-level decision-makers and other members of the gatekeeper’s organization. (Learn more in Legal Magazine marketing articles)

Terms Starting by: H

Hard Sell: Using aggressive tactics to convince someone to make a purchasing decision. Also used to describe situations in which it is difficult to convince others to act favorably (e.g., “The partisan bill was a hard sell for the President”). (Learn more in Legal Magazine marketing articles)

Hits: The number of times any of the elements in a Web page have been accessed.(Learn more in Legal Magazine marketing articles)

Home Page: A Web site’s main or central page, or, alternatively, the page that appears on your browser when you log on. (Learn more in Legal Magazine marketing articles)

HTML: See “Hyper Text Markup Language” (Learn more in Legal Magazine marketing articles)

Hyperlink: When you’re viewing a Web page and you see an underlined or colored word–or when your cursor turns from an arrow into a finger–you’re probably looking at a hyperlink (also known as a “link”). This is the wave that propels you as you surf the World Wide Web. You trigger the wave by clicking on it. It can take you anywhere from the another part of the Web Page you’re currently viewing to an entirely different corner of the World Wide Web. (Learn more in Legal Magazine marketing articles)

Hyper Text Markup Language (HTML): The nuts and bolts used to build most Web pages. (Learn more in Legal Magazine marketing articles)

Terms Starting by: I

Impression: The appearance of an ad on an accessed Web page. If you visit a Web page that shows two ads, you have just accounted for two impressions. Often, advertisers equate impressions with the number of times their ads are actually viewed by Web surfers and they buy ad space based on the cost per thousand impressions. (Learn more in Legal Magazine marketing articles)

Incentive Fee Arrangement: An alternative fee arrangement where the attorney is given an incentive to resolve the lawsuit for the lowest possible cost to the client. The client benefits either from low fees and/or settlement costs due to a favorable resolution of the case or from reduced fees if the settlement or judgment is not favorable. (Learn more in Legal Magazine marketing articles)

Incubator: A resource for entrepreneurs who need to infuse their start-ups with the talent, technology and capital necessary for success. In return for an ownership interest, Incubators may provide venture capital and networking opportunities. They also may provide office space, network infrastructure, technology development, graphic design, business strategy, human resources consulting, branding, marketing services and competitive research. (Learn more in Legal Magazine marketing articles)

Internet Service Provider (ISP): See “ISP.” (Learn more in Legal Magazine marketing articles)

ISP (Internet Service Provider): Examples: AOL (AOL), Earthlink (ELNK), and Excite@home (ATHM). Most of them charge monthly fees for allowing you the privilege of connecting to the Internet. (Learn more in Legal Magazine marketing articles)

Terms Starting by: J

Java: A general purpose, simplified programming language developed by Sun Microsystems. Java is well suited for use on the Web because it is designed to avoid common programming errors and its code can run on most computers. (Learn more in Legal Magazine marketing articles)

Terms Starting by: K

Key Account: One of a small group of current client relationships that deserves focused attention and resources because it represents one of the best opportunities for a sales professional and his or her organization. (Learn more in Legal Magazine marketing articles)

Knowledge Base: An organized structure of information, which facilitates the storage and retrieval of organizational intelligence. (Learn more in Legal Magazine marketing articles)

Knowledge Management: The systematic process of finding, selecting, organizing, distilling and presenting information in a way that improves an employee’s comprehension in a specific area of interest. Knowledge management helps an organization to gain insight and understanding from its own experience. Specific knowledge management activities help focus the organization on acquiring, storing and utilizing knowledge for such things as problem solving, dynamic learning, strategic planning and decision making. It also protects intellectual assets from decay, adds to firm intelligence and provides increased flexibility. (Learn more in Legal Magazine marketing articles)

Terms Starting by: L

LAMA: See “Legal Assistant Managers’ Association” (Learn more in Legal Magazine marketing articles)

Lead: An unqualified prospect. For example, a lead could include an individual who has been referred to a sales professional or who has responded to a direct marketing campaign conducted by the sales professional’s organization. (Learn more in Legal Magazine marketing articles)

Legal Assistant Managers’ Association (LAMA): An international association of managers of legal assistant programs in law firms, corporate legal departments, governments and judicial and legal agencies. (Learn more in Legal Magazine marketing articles)

Legal Marketing Association (LMA): A professional association dedicated to serving the needs and maintaining the professional standards of those involved in marketing for the legal profession. (Learn more in Legal Magazine marketing articles)

Lessons Learned Meeting: A post-engagement/project meeting between professional service providers and their client to assess performance, identify areas for improvement and determine next steps. Lessons learned meetings are excellent opportunities for forward thinking professionals to demonstrate their commitment to continuous improvement and to lay the foundation for long-term client partnerships. (Learn more in Legal Magazine marketing articles)

LMA: See “Legal Marketing Association” (Learn more in Legal Magazine marketing articles)

Terms Starting by: M

Marketing: The process of supporting and driving sales. The classic components of marketing are the Four Ps: product, price, place and promotion-developing a product or service, establishing the price, determining the channels of distribution (place), and generating demand (promotion). (Learn more in Legal Magazine marketing articles)

Marketing Plan: A written document that describes the overall marketing strategy and programs developed for an organization, a particular product line, a brand, or an individual. (Learn more in Legal Magazine marketing articles)

Market Segments: Identifiable groups of customers sharing similar needs, wants, or other characteristics that make them likely to respond in a similar fashion to a marketing program. (Learn more in Legal Magazine marketing articles)

Market Share: The portion of an industry’s sales captured by a particular company, product or brand. (Learn more in Legal Magazine marketing articles)

MDP: See “Multidisciplinary Practice” (Learn more in Legal Magazine marketing articles)

Media plan: A document consisting of objectives, strategies, and tactics for reaching a target audience through various media vehicles. (Learn more in Legal Magazine marketing articles)

Media Planning: The series of decisions involved in the delivery of an advertising message to prospective purchasers and/or users of a product or service. (Learn more in Legal Magazine marketing articles)

Mediation: An alternative to litigation, mediation is a dispute resolution technique conducted by mediators that is less formal than arbitration. Mediators are individuals trained in negotiations who bring opposing parties together and attempt to work out a settlement or agreement that both parties accept or reject. Mediation is used for a wide gamut of case-types: ranging from juvenile felonies to Federal government negotiations with Native American Indian tribes. (Learn more in Legal Magazine marketing articles)

M-commerce: Mobile e-commerce. A hot term–especially in Europe–where mobile phones and other handheld devices are the preferred way for people to find information, make transactions and organize their the lives (Learn more in Legal Magazine marketing articles)

Message Board: Places where you can post, read and respond to messages written by others. (Learn more in Legal Magazine marketing articles)

Moment of Truth: Any time someone comes into contact with another person, company or organization and, thus, has an opportunity to form an impression. (Learn more in Legal Magazine marketing articles)

Multidisciplinary Practice (MDP): An organization owned wholly or partly by non-lawyers that provides legal services directly to the public through owner or employee lawyers. (Learn more in Legal Magazine marketing articles)

Terms Starting by: N

National Account: A key account that requires service at several client locations throughout the country. (Learn more in Legal Magazine marketing articles)

Netiquette: Rules governing socially acceptable behavior (etiquette) online. (Learn more in Legal Magazine marketing articles)

Networking: Cultivating mutually beneficial professional relationships with clients, prospective clients and potential sources of referrals. One of the primary goals of professional networking is to develop a referral network and, thus, a strong and steady source of new business. (Learn more in Legal Magazine marketing articles)

Non-price Competition: A strategy of using factors other than price, such as advertising or product differentiation, as a basis for competition. (Learn more in Legal Magazine marketing articles)

Terms Starting by: O

(Learn more in Legal Magazine marketing articles)

Objection: An unfavorable response by an individual to a sales professional’s request. Sample objections during a cold call could include: “we’re not interested;” “we’re already working with one of your competitors;” “I’m not the right person;” “we don’t have the budget for that;” and “I don’t have the time.” See “Overcoming Objections.” (Learn more in Legal Magazine marketing articles)

Open-ended Questions: Questions that elicit expanded and information-rich responses-not “yes” or “no” answers. Open-ended questions often begin with “who,” “what,” “why,” “where,” “when,” “how,” “tell me” or “please describe.” Sales professionals ask open-ended questions so that they can learn as much as possible about the prospect and/or client and his or her organization. If the responses are over broad, sales professionals can always clarify and focus with follow-up questions. (Learn more in Legal Magazine marketing articles)

Overcoming Objections: The process by which a sales professional turns an unfavorable response into an agreement to act. (Learn more in Legal Magazine marketing articles)

Terms Starting by: P

Page Views: The number of times a single Web page has been accessed. Investors and advertisers use page views to track and compare Internet traffic among competing Internet companies. (Learn more in Legal Magazine marketing articles)

Partnership: The point in a client relationship at which the seller of goods or services is seen by his or her client as a trusted advisor rather than as a vendor or supplier. This is the most lucrative point in a client relationship because the number of competitors declines, clients become less sensitive to price, and the seller is able to contribute in a meaningful way to the client organization’s overall success. (Learn more in Legal Magazine marketing articles)

Peerage: When a client or prospect sees a sales professional as his or her equal. Establishing peerage is an important step in moving from a vendor-based relationship to a partnership. (Learn more in Legal Magazine marketing articles)

Pipeline: Also “Sales Pipeline.” A tool or means of analysis used by organizations and sales professionals to track progress with potential clients in the context of their sales cycle. By monitoring their sales pipeline and making any necessary adjustments, sales professionals and their organizations create more predictable and consistent revenue streams. For example, if an organization has a six-month sales cycle and its current pipeline of potential clients is not full, it can expect a revenue shortfall in six months unless it jumpstarts its sales efforts today. (Learn more in Legal Magazine marketing articles)

Portal: A Web site that tries to be everything to everybody. Examples include AOL (AOL) and Yahoo! (YHOO). (Learn more in Legal Magazine marketing articles)

Preferred Provider: A name given by a client to one of its service and/or product providing organizations to in some way recognize and distinguish that organization as an important and valued resource-but not as an exclusive resource. In practice, client organizations have different ways of handling the preferred provider relationship. For example, one client might call the preferred provider first for all or some aspects of its needs. Another client might limit its purchasing to a small number of competing preferred providers. A third client might recommend the preferred provider to its employees but allow its employees to make their purchases elsewhere. (Learn more in Legal Magazine marketing articles)

Press Kit: A set of marketing materials such as press releases, brochures, articles and reports given to the press for general dissemination. (Learn more in Legal Magazine marketing articles)

Press Release: An announcement of a newsworthy event that is prepared by an organization (often by the public relations or press department), and issued to the press. (Learn more in Legal Magazine marketing articles)

Prospect: A potential client. A lead becomes a prospect when the sales professional contacts him or her and, based on the conversation, determines that the lead is capable of moving through the necessary steps to become a client. (Learn more in Legal Magazine marketing articles)

Prospecting: The process of identifying potential new clients. (Learn more in Legal Magazine marketing articles)

Public Relations (PR): The process of establishing and promoting a brand identity and a favorable public image. Public relations efforts are often focused on issues of public interest that can appear as objective news items rather than as advertisements for products or services. Sample public relations activities include:

  • Media relations (press releases, opinion pieces, ghostwritten articles, press conferences and pitch letters);
  • Community relations (event planning, speaking engagements, public education campaigns and sponsorships); and
  • Corporate relations (newsletters, employee incentive programs and corporate sponsorships).

Publicity: Public notice or interest generated by the dissemination of information about a person, company, organization, event, product or service. (Learn more in Legal Magazine marketing articles)

Terms Starting by: Q

Qualify: The act of determining whether an individual or an organization has the potential of becoming a client. (Learn more in Legal Magazine marketing articles)

Qualified Lead: An individual or an organization that has responded to another organization’s sales and marketing efforts and that has the potential of becoming a client as determined by the careful analysis and/or direct contact of a sales professional. (Learn more in Legal Magazine marketing articles)

Quota: The production required or expected by an organization of its sales professionals. Quotas are often time-based and tied to a total dollar amount, a percentage increase over sales from a previous time, or the quantity of products or services sold. (Learn more in Legal Magazine marketing articles)

Terms Starting by: R

Rapport: A foundation of mutual respect, trust and liking that exists between two or more individuals. Sales professionals who are skilled at developing rapport find it easier to speak candidly, ask difficult questions and make successful closes during sales calls. (Learn more in Legal Magazine marketing articles)

Referral: A recommendation made by an individual and/or an organization to contact or use a certain professional, organization, service or product. (Learn more in Legal Magazine marketing articles)

Referral Network: A group of individuals and/or organizations that make regular referrals to a particular professional, organization, service or product. One of the primary goals of professional networking is to develop a referral network and, thus, a strong and steady source of new business. (Learn more in Legal Magazine marketing articles)

Request for Proposal (RFP): A document and/or organized process used by a buyer of a product or service to solicit and evaluate bids and information from sellers. Requests for proposals often require sellers to respond in a consistent and structured way so that the buyer can make an apples-to-apples comparison. (Learn more in Legal Magazine marketing articles)

Return on Investment (ROI): The financial benefit (e.g., profit and/or cost savings) expressed as a percentage, that results from each dollar spent on a particular activity. Businesses often estimate the ROI for various alternatives before they determine a particular course of action. Sales professionals might also help their clients document ROI after the client purchases and begins using the sales professional’s products or services. (Learn more in Legal Magazine marketing articles)

RFP: See “Request for Proposal” (Learn more in Legal Magazine marketing articles)

Road Show: Also called a “Dog and Pony Show”. A series of important, rehearsed sales presentations during which one or more sales people make their best case for their products, services or ideas. (Learn more in Legal Magazine marketing articles)

ROI: See “Return on Investment” (Learn more in Legal Magazine marketing articles)

Role Playing: Realistic simulations in which participants adopt and act out roles in order to learn how to perform in specific situations. (Learn more in Legal Magazine marketing articles)

Terms Starting by: S

Sales: Revenue generated from the exchange of goods or services for money. The process, undertaken by sales professionals, of convincing other individuals and/or organizations to purchase goods or services from them and/or their organizations.(Learn more in Legal Magazine marketing articles)

Sales Call: A face-to-face meeting between a sales professional and a prospect during which the sales professional attempts to convince the prospect either to make a purchasing decision or to take the next step in the sales cycle. (Learn more in Legal Magazine marketing articles)

Sales Cycle: The average time it takes a sales professional to move from making the first contact with a prospect to closing the sale. The length of a sales cycle depends on many factors such as the quality of the sales professional, the industry and the price and complexity of the product or service. (Learn more in Legal Magazine marketing articles)

Sales Force Automation (SFA): Combining process with software applications to streamline the capture, analysis and management of sales and marketing information. (Learn more in Legal Magazine marketing articles)

Sales Professional: One who is paid to convince others to make purchasing decisions and/or move to the next step in the sales cycle. Also, “Salesperson,” “Salesman,” “Saleswoman.” (Learn more in Legal Magazine marketing articles)

SFA: See “Sales Force Automation” (Learn more in Legal Magazine marketing articles)

Server: A computer or other device that performs predetermined tasks and manages network resources. Servers that power Web sites often become overwhelmed during times of heavy traffic. (Learn more in Legal Magazine marketing articles)

Snail Mail: Regular mail delivered by the Postal Service in the physical world. (Learn more in Legal Magazine marketing articles)

Soft Sell: Using non-aggressive, low-pressure tactics to convince someone to make a purchasing decision. (Learn more in Legal Magazine marketing articles)

Spam: Internet junk mail. (Learn more in Legal Magazine marketing articles)

Streaming: A method for transferring data, especially large multimedia files, that allows the recipient to start displaying the data before the transfer is completed. (Learn more in Legal Magazine marketing articles)

Terms Starting by: T

Target: A potential prospect. These are individuals about whom a sales professional and their organization knows very little or nothing about. (Learn more in Legal Magazine marketing articles)

Target Market: A group of individuals and/or organizations for which a particular ad, product or service is specifically designed and delivered. (Learn more in Legal Magazine marketing articles)

Task-based Billing: Task-based billing can operate in a number of ways. For example, fixed fees for specific tasks might be negotiated, creating an incentive for the attorney to perform efficiently. Another approach is to use task-based estimates to create a working budget. This type of billing system is particularly useful to clients because it allows them to compare attorney rates for identical tasks. (Learn more in Legal Magazine marketing articles)

Telemarketing: Using the telephone to convince another individual to make a purchasing decision or to take the next step in the sales cycle. (Learn more in Legal Magazine marketing articles)

Testimonial: An experienced-based statement from a respected source that helps certify the value and/or credibility of a specific product, service, individual or organization. (Learn more in Legal Magazine marketing articles)

Top Down Selling: A philosophy of sales that it is always better to sell to the highest level of an organization and work your way down than to sell to lower levels and try to work your way up. (Learn more in Legal Magazine marketing articles)

Trade Show: A type of exhibition or forum where product and service providers can display their products or services to current and prospective clients. (Learn more in Legal Magazine marketing articles)

Terms Starting by:> U

Unbundling: The “unbundling” of legal services refers to an increasingly popular means for corporations to purchase legal services. Instead of a using a law firm providing all services required by an engagement, a corporation may use several different vendors to supply particular services. For example, a corporation may use a legal research service to supply legal research, a staffing company to provide document review services, and a jury consultant to assist in trial preparation. Often this approach results in significant savings and efficiencies for the corporate client.(Learn more in Legal Magazine marketing articles)

Uniform Resource Locator (URL): The Internet equivalent to 123 Main Street, Anywhere USA 12345. It is simply the Internet address you type into your browser window. Most begin with “http://www.” and end with “.com” (commercial business), “.org” (organizations / non-profit), “.gov” (government agencies) or “.edu” (educational institutions). (Learn more in Legal Magazine marketing articles)

Unique Visitors: A term used to describe the number of unique individuals that visit a Web site within a given time period. While Web site traffic is often measured in terms of unique visitors, the use of proprietary tracking tools and the need to protect personal privacy have made it very difficult to identify unique visitors with complete accuracy. (Learn more in Legal Magazine marketing articles)

Upload: The process of copying a file from your own computer to another computer.(Learn more in Legal Magazine marketing articles)

Upselling: To increase the value or quantity of a sale by recommending additional options or upgrades. For example, a law firm would be upselling if, in the process of bidding on a particular block of work from a prospective client, it proposed to handle a different but related matter. (Learn more in Legal Magazine marketing articles)

URL: See “Uniform Resource Locator” (Learn more in Legal Magazine marketing articles)

Terms Starting by: V-

Value Billing: An alternative fee arrangement where the attorneys’ fees are determined retrospectively based either upon agreed criteria or the lawyer’s subjective judgment. Theoretically, it is based upon the value of the benefits conferred upon the client by the lawyer. (Learn more in Legal Magazine marketing articles)

Vendor: The seller of a product or service. The term vendor is often used pejoratively by professional service providers to describe sellers of commodities in competitive, price sensitive environments. This implies that vendors have limited abilities to contribute in a meaningful way to their clients’ business and organizational objectives which, in turn, means that they have very little leverage for developing lucrative long-term client relationships. (Learn more in Legal Magazine marketing articles)

Vertical: A very focused and comprehensive Web site. Rather than appeal to a broad audience, a vertical Web site targets a specific group or industry. Its goal is to foster community activities and provide in-depth information such as news, research, auctions, products and services specific to that group or industry. (Learn more in Legal Magazine marketing articles)

Viral Marketing: Word of mouth on the internet. Powerful and inexpensive. People e-mail their friends about services and products they like. Often it goes like this: you tell two friends about a hot new Internet site. Then they tell two friends. Then these two friends tell two friends. And so on. (Learn more in Legal Magazine marketing articles)

Virus: A program that secretly loads into your computer, often when you download files attached to e-mails, and begins infecting your computer by altering or deleting files. (Learn more in Legal Magazine marketing articles)

Visitor: An individual who visits a Web site. This individual is considered one visitor regardless of how many pages he or she views. (Learn more in Legal Magazine marketing articles)

Vortal: A vortal (derived from the combination of “vertical” and “portal”), is a master site that holds several very focused and comprehensive sub-sites called verticals. Each of the sub-sites foster community activities and provide in-depth information such as news, research, auctions, products and services, on a specific topic or for a specific industry. (Learn more in Legal Magazine marketing articles)

Terms Starting by: W

WAP: See “Wireless Application Protocol” (Learn more in Legal Magazine marketing articles)

Wireless Application Protocol (WAP): A standard specification for sending applications over wireless networks. The uniform acceptance of WAP by companies in Europe and Japan is the reason why the Europeans and the Japanese are ahead of the United States when it comes to the use of wireless technology. WAP is an initiative started by a consortium of communications companies including Unwired Planet, Motorola, Nokia, and Ericsson. (Learn more in Legal Magazine marketing articles)

Wireless: Any communications, monitoring, or control system that does not require a wire to carry a signal from one point to the next. The most common examples of wireless devices include satellite TV, the Global Positioning System (GPS), cellular phones and pagers. (Learn more in Legal Magazine marketing articles)

World Wide Web (“www” or “The Web”): A network of Internet servers that supports documents formatted in a way that allows users to easily link to other documents and view graphics, audio and video files. (Learn more in Legal Magazine marketing articles)

WWW: See “World Wide Web” (Learn more in Legal Magazine marketing articles)

Terms Starting by: X

XML (eXtensible Markup Language): A markup language for Web documents that gives designers more freedom and functionality and that allows users to access, use and interact with richly structured documents over the web. Also, it enables intelligent agents to search for information and then act on it once that information is found. Very hot in the business-to-business sector. (Learn more in Legal Magazine marketing articles)

Terms Starting by: Y

Terms Starting by: Z

Zero-Sum Game: A game in which the winning party’s gains equal the losing party’s losses. Sales professionals who treat sales calls as zero-sum games have no chance of developing long-term client relationships.

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