Resources: Our Law Firm Marketing Newsletter

The Rainmaker Institute
Rainmaker Report
Practice Building Tips for Today's Attorneys
  August 2015   
  888-588-5891   
Generating leads is a vital part of any law firm marketing strategy, but knowing where those leads come from, how they become clients, and the cost per conversion is just as important.

The conversion of leads to paying clients is what takes you from spending money to making money - which is really the reason you are in the business of law. Spending money on getting more leads without putting simple tracking mechanisms into place leads to wasted money.

How will you ever know what part of your marketing is working if you aren't committed to tracking where your leads are coming from and which of those leads convert into cases?

Asking people on the phone how they heard about you does not work and is a waste of your time. People will tell your intake staff what they think they want to hear or the first thing that comes to their mind. To make this your best year ever, make a commitment to track where every single lead is coming from this year. Keep reading to learn how.

Sincerely,

 

Stephen Fairley

Lead Generation: Key Steps

In order to track where your leads are coming from, put a system in place for your front office staff and audit their compliance every week. To discover how intake and lead conversion is working in your law firm, you need to work with your staff to identify the stages of how prospects go to paying clients. Find out:
  • Who is responsible for intake? (tip: it should never be an attorney or a paralegal)
     
  • Who tracks and reports on the leads?
     
  • What is your follow up protocol?
     
  • How many times do you call and email a lead before giving up?
     
  • What is your lead to appointment conversion rate?

  • What is your conversion rate for in-person appointments versus phone only consults?
     
  • Who does the initial consultations?

  • What is the conversion rate for every person who handles initial consults?
Once you have those answers, you should analyze your intake system to find opportunities to make it more effective and streamlined wherever possible.


4 Keys to Winning at Lead Generation

1. Diversify your marketing efforts. The best firms never rely on just one or two ways to get leads. Tap into the power of content marketing, blogging, newsletters, and social media to generate leads.

2. Commit to tracking every single lead. Develop reports for tracking effectiveness of marketing efforts and create metrics for quantifying ROI of all major marketing initiatives.

3. Appoint an internal person who is responsible for intake, including tracking, measuring and reporting.

4. Stop relying only on "word of mouth." Far too many attorneys place their entire financial future in the hands of a few referral sources. Make a commitment this year to diversifying the number and quality of your referral sources.

Lead Generation: How to Increase the Quality and Quantity of Your Referrals

One of the biggest mistakes that any professional who relies on referrals as a source of new clients tends to make is not educating their referral sources. It does you no good to ask someone to refer you if they have no idea what it is you are looking for in a new client. Here are the top 5 things your referral sources need to know:

1. What your ideal client looks like. You need to answer this question very specifically - i.e., "My ideal client is a high net worth individual ($1 million or more in assets) in their 40s who owns their own business." "A great referral for me is a construction worker who was hurt at work and had to be driven to the hospital in an ambulance because of their injuries."

2. Why someone should hire you. Be sure your referral source understands the precise reasons why you are better than your competitors. "Here are three reasons why you should refer your business to me versus anyone else..."

3. What legal problems you solve. By helping your referral source understand the types of legal issues you solve for your clients, they will know what to listen for in daily conversations and be able to recommend you to someone who mentions having a problem you solve.

4. How you follow up. Your referral source needs to feel comfortable that you will follow up promptly and professionally with the people they send your way.

5. What's in it for them. In some states you can give a referral fee to other attorneys, in other states you cannot. But there are things you can do everywhere every time you get a referral: send a thank you note (handwritten is better than email), send a small "thank you gift" (a bottle of wine or a gift basket to the office), take the person out to a nice dinner once in a while to show your appreciation, listen to your clients and colleagues and send them a referral back.

If you're ready to take your firm to the next level this year and would like some assistance in achieving your goals in creating a lifestyle law firm, I invite you to sign up for a complimentary strategy session with one of our trained Rainmaker Law Marketing Consultants by calling 888-588-5891 or filling out this form.

If you'd like to learn more proven strategies for business development, I invite you to attend a Rainmaker Retreat, our two-day law firm marketing workshop. We have sessions every month around the country - go to RainmakerRetreat.com to check the schedule.

We have helped over 10,000 attorneys across the nation discover the secrets in building a financially successful and personally satisfying legal practice and we would love to have your law firm be our next success story!
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For more information please call 888-588-5891or visit www.RainmakerRetreat.com.  
StephenSpeaking
Stephen's Speaking Engagements
American Bar Association GPSolo 2015 Solo and Small Firm Summit

September 24-26, 2015
Boston, MA

Stephen will be presenting on Friday, September 25.

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