When it comes to spending money on attorney marketing, sometimes it’s a battle to pry open law firm wallets. There’s a persistent misconception among attorneys that marketing, or any communications work is of little to no value. Of course, this is easily countered by measuring your return on investment. If you’re wondering how effective your attorney marketing is, learn how to accurately measure the return on your investment. Once you know how effective your attorney marketing efforts have been, you can effectively tailor your attorney marketing spending to maximize the most effective methods and minimize your spending on less effective means. If your law firm can maximize its attorney marketing effectiveness and minimize wasteful spends, then you could drive your profits up while driving your overhead costs down.
Measuring Your Return on Investment to Determine Your Attorney Marketing Budget
When it comes to determining your attorney marketing budget, law firms who can track their return on investment have a more accurate idea of where to spend their money. Sometimes, attorneys believe one attorney marketing tool to be the most effective, but in reality, it could be another tool which is more effective and drives more clients through the door. By tracking the return on investment in your attorney marketing, your law firm will know exactly what’s working and what’s not. This can help your law firm determine where to spend the money, and where to cut your losses. Considering the following ways in which your law firm can track its return on attorney marketing investment:
• Ask your clients where they found you. If your law firm is wondering what’s bringing them through the door, ask them where they found your firm and what brought them in. This important step of measuring your attorney marketing success is simple yet effective.
• Study your website traffic sources. Which site or source is referring your law firm the most traffic? If this is a press release, a paid directory listing, social media, or search engine traffic, your attorney marketing spending will likely need to be adjusted further. Consider where your traffic is coming from to determine the facets of your attorney marketing that are worthy of the budget allocation.
• Track your press and social media mentions. Is your name coming up more frequently? This means consumers are talking about you, which is what you want. Find out where this increased chatter is coming from and what’s inspiring it. Tie these back to your attorney marketing efforts and determine which area is responsible for the increased attention from consumers.
• Measure your advertising rates versus calls in. If you’re using pay per click advertising, you can log on and measure the analytics to determine what your spend is per click on your advertisement and how many impressions consumers are receiving. If your law firm can assign a separate number to the advertising, you can track the number of calls back to this advertising and measure its effectiveness overall. If your cases are few and far between compared to your advertising costs, your law firm will want to invest its attorney marketing dollars elsewhere.
• Keep track of your cases coming in. When your law firm launches a new marketing initiative, keep track of the cases you receive during that attorney marketing campaign. If your law firm is experiencing big gains in case load, it’s a good sign that your attorney marketing campaign is working. Keep a close eye on these critical results.
Law firms who measure their attorney marketing return on investment are better equipped to make smart decisions with their available budget. Instead of throwing good money into potentially costly and less effective attorney marketing methods, find out what works for your law firm and spend your money wisely. Call the team at eLaw Attorney Marketing to obtain the help you need.