Like any other business, when running a law firm, there is always the same marketing question; what part of your campaign and spend is generating good, quality leads? Once any business can answer that, they can begin to improve their campaign and spend money in the right places – ones that improve the bottom line.
Six months ago, a new website was launched in the medical negligence market (The Medical Negligence Experts). This is the first technology platform within that industry which sought to answer the question from paragraph 1. As they built up their data, clarity and efficiencies began to filter through their marketing team. They discovered a way to get more, high value customers from their leads. Using the same budget, they could both increase their number of quality customers acquired and reduce the quantity of low quality leads.
How did law firms generate leads before?
Regular digital marketing agencies were the usual approach. They are always available to use date to meet a cost target per lead KPI. The problem with this approach is that it only tells one side of the story. It does not account for the quality of the leads. In other words, your marketing activity may lead to a high volume of leads. Your agency believes they are doing a great job and may spend more money in this area. However, this activity may actually be generating low quality leads that are not producing customers. This is not a good situation.
One law firm explained they built a system that connects their marketing activity with their CRM system but they take a few extra steps up front. When a lead comes in via a contact form or phone, the law firm talks to the potential client as they normally would. After the decision is made as to whether the lead parameters are met, customer service updates the CRM with that lead detail. Should the lead be a live one, a marketing campaign begins to turn that hot lead into a live customer. Using this method also allows the firm to attain more accurate cost per customer figures and gives them a competitive edge.
So far this system seems to really be working for law firms. It gives them the clarity to ensure they are making the maximum profits on their investment. The resulting quality of the leads and cost per lead is something that the old, established CMCs simply cannot match. It is predicted that over time, more data will generate further improved results, and in turn – serve law firms everywhere even better.