According to studies, companies across various industries spend an average of $30-$200 on each marketing-generated lead. Incredibly, these studies found that these same companies often don’t follow-up on up to 23% of those leads. But it doesn’t stop there: lead consultants also found that companies generally don’t respond quickly enough to leads, with some companies averaging almost 47 hours before calling potential clients and making less than two repeat call attempts.
Ultimately, these findings are examples of money being thrown away. Leads are the building blocks of any business– especially law. Below are four fundamentals that can help ensure that your law firm is getting the most out of each marketing-generated lead:
1. Respond Right Away
It’s important to respond immediately to every inquiry you receive about your services. The assumption should be that you’re, at least, attempting to follow up within the business day, and the challenge should be to cut your lead response time from hours to minutes.
Prospects are at their highest point of interest when they call or click the Submit button on your form; catching them while their needs are at the top of their mind can make all the difference.
2. Make it Personal and Professional
Responses to a lead should be both personal and professional. Addressing your lead by their name, including relevant branding (such as your firm’s logo), and personalizing your call to action with the information of the attorney that is in contact with the potential client are simple ways to improve your lead conversions.
Professionalism is key– be courteous, consistent, and focused on what the client needs.
3. Stay Engaged and Nurture the Relationship
The cross-industry consensus, backed by a significant amount of data, shows that leads can be nurtured for up to six months. A way to take advantage of this is by having automated follow-ups that reach out to leads at specified intervals. An initially doubtful prospect may respond to follow-ups as they reach the later stages in their decision-making process, so having an automated follow-up helps re-engage possible clients that might otherwise go unnoticed.
Automated follow-ups allow your law firm to stay connected to leads while you and your team focus on current cases.
4. Track Your Conversion Rate and Understand What it Means
One of the most important tips for securing better lead conversions is knowing what your conversion rate is and what it means for your business. Simply put, your conversion rate is how many leads become paying clients. Your conversion rate can provide insight into the quality of your leads and the effectiveness of your marketing strategy.
Your marketing strategy is an essential factor in determining the success of your law firm, and understanding your conversion rate can help you decide on the marketing strategy that is best for you.
So What’s Next?
Now that you’ve got the four fundamentals to ensuring better lead conversions, it’s time to implement these strategies into your business plan. While automated follow-ups and a streamlined response process may seem like small steps to take, they can have a big impact on your business overall.
LegalRev is here to help. LegalRev has proven legal marketing advice that can help you build your business using creative and effective digital marketing strategies. Be sure to follow us on Facebook and Twitter, and feel free to give us a call at (800) 893-2590.
