Regularly evaluate your return on investment (ROI)
Posted: Sun Dec 22, 2024 9:59 am
We want to get referrals from multiple sources, which means we need to use multiple sources to achieve this. A combination of social media marketing, content marketing, paid advertising (like Google Ads ), and community-focused promotion (like sponsorships and workshops) will cast a wide net to reach more people.
Money matters. That’s why you need to continually monitor the usa phone list metrics of your website design , SEO efforts, and PPC campaigns to ensure they’re bringing you the results you expect or providing a positive ROI.
Review your metrics and evaluate which marketing techniques are giving you the greatest return. For SEO, use Google Analytics to track these metrics, including online contact form submissions.
However, please note that when examining metrics, it is critical to use a broad enough data set to filter out trends. For example, if you are a divorce attorney looking at data monthly, and you see a drop in call volume in February or March, this is likely because spouses are less likely to divorce over spring break for the sake of the children. Using a large enough data set (i.e., year-over-year comparisons) will help you see the bigger picture that is not affected by short-term trends.
Using the information you have available, you can also try to determine where new customers are coming from - how did they learn about your company and contact you? This can be as simple as asking them when they fill out an enquiry form or schedule an appointment. A simple question like "How did you hear about us?" can give you an idea of what's working.
There are a number of tools you can use to help manage this customer information, monitor where your traffic and leads are coming from, and provide you with near real-time information. This gives you specific insights into which of your marketing efforts are paying off.
Adjusting your law firm's marketing budget over time
What stage is your marketing currently at? If you are just starting out and haven’t invested much time yet, you may need to invest more time and money up front to gain market share . This is especially true in a competitive market and for smaller law firms competing against larger, more established firms that typically have larger budgets.
This can happen in any industry, but it often happens with personal injury lawyers, family lawyers, and criminal defense lawyers, for example in larger cities. When you are in a competitive market like this, you need to start your marketing with a more aggressive budget. This can allow you to gain some market share and do it quickly, helping to increase your ROI.
Once your marketing strategy is in place, you'll work to evaluate which avenues are more effective for you and adjust your marketing costs based on which avenues are bringing in leads and customers. Then, track which marketing methods bring in the most customers -- and the customers with the highest lifetime value to your company. Once you know this, you can adjust your marketing strategy, investing more in successful methods and divesting from costly, low-return methods.
It’s important to remember that some marketing methods produce returns faster than others. Don’t stop SEO marketing just because you don’t see returns in a month or two .
On average, SEO marketing takes 6 to 12 months to start paying off, and it can take longer if you’re in a competitive market like Shenzhen or Shanghai, Hangzhou, or a tier-one or tier-two city. You can probably lower your marketing budget over time as you gain a base of regular and returning customers who refer you back.
Common Mistakes to Avoid with Your Law Firm Marketing Budget
Don't make these common mistakes. They could end up costing you money.
Pay for Cheap SEO Services
Unfortunately, this happens all too often, and it almost always results in frustration for the law firm. As the old saying goes: you get what you pay for. If you hire an outside agency or freelancer to handle your digital marketing, don’t look for the company that offers the lowest price. Instead, make sure the company you turn to has the skills to get the job done right.
Money matters. That’s why you need to continually monitor the usa phone list metrics of your website design , SEO efforts, and PPC campaigns to ensure they’re bringing you the results you expect or providing a positive ROI.
Review your metrics and evaluate which marketing techniques are giving you the greatest return. For SEO, use Google Analytics to track these metrics, including online contact form submissions.
However, please note that when examining metrics, it is critical to use a broad enough data set to filter out trends. For example, if you are a divorce attorney looking at data monthly, and you see a drop in call volume in February or March, this is likely because spouses are less likely to divorce over spring break for the sake of the children. Using a large enough data set (i.e., year-over-year comparisons) will help you see the bigger picture that is not affected by short-term trends.
Using the information you have available, you can also try to determine where new customers are coming from - how did they learn about your company and contact you? This can be as simple as asking them when they fill out an enquiry form or schedule an appointment. A simple question like "How did you hear about us?" can give you an idea of what's working.
There are a number of tools you can use to help manage this customer information, monitor where your traffic and leads are coming from, and provide you with near real-time information. This gives you specific insights into which of your marketing efforts are paying off.
Adjusting your law firm's marketing budget over time
What stage is your marketing currently at? If you are just starting out and haven’t invested much time yet, you may need to invest more time and money up front to gain market share . This is especially true in a competitive market and for smaller law firms competing against larger, more established firms that typically have larger budgets.
This can happen in any industry, but it often happens with personal injury lawyers, family lawyers, and criminal defense lawyers, for example in larger cities. When you are in a competitive market like this, you need to start your marketing with a more aggressive budget. This can allow you to gain some market share and do it quickly, helping to increase your ROI.
Once your marketing strategy is in place, you'll work to evaluate which avenues are more effective for you and adjust your marketing costs based on which avenues are bringing in leads and customers. Then, track which marketing methods bring in the most customers -- and the customers with the highest lifetime value to your company. Once you know this, you can adjust your marketing strategy, investing more in successful methods and divesting from costly, low-return methods.
It’s important to remember that some marketing methods produce returns faster than others. Don’t stop SEO marketing just because you don’t see returns in a month or two .
On average, SEO marketing takes 6 to 12 months to start paying off, and it can take longer if you’re in a competitive market like Shenzhen or Shanghai, Hangzhou, or a tier-one or tier-two city. You can probably lower your marketing budget over time as you gain a base of regular and returning customers who refer you back.
Common Mistakes to Avoid with Your Law Firm Marketing Budget
Don't make these common mistakes. They could end up costing you money.
Pay for Cheap SEO Services
Unfortunately, this happens all too often, and it almost always results in frustration for the law firm. As the old saying goes: you get what you pay for. If you hire an outside agency or freelancer to handle your digital marketing, don’t look for the company that offers the lowest price. Instead, make sure the company you turn to has the skills to get the job done right.