Catch Steve Barrett THURSDAY on Getting ROI from Law Firm Marketing
Whatever you do, don't miss the legendary Steve Barrett in the LIVE webinar this Thursday: Getting a Return on Investment From Your Marketing Initiatives
Are you spending on law firm marketing and getting less to show for it? Are you unable to show any ROI at all?
Steve is see-in-the-dark smart about marketing and has been the CMO at (count 'em) Philadelphia's Drinker Biddle; Seattle's Perkins Coie; Paul Hastings in Los Angeles; and Choate Hall in Boston. He's been a force to reckon with in law firm marketing for 20 years.
Take a guess at which of the following initiatives are high-yield, and which are a total waste of money:
| Responding to RFPs | Sky box |
|
Advertising |
One-on-one meetings with clients and prospective clients |
| Attorney marketing training | Client visits |
| A large client reception | On-site client satisfaction interview |
| Client service teams | Small roundtable at the firm |
| Public Relations | A seminar for a large audience |
| Glossy, four color brochure | CRM and enterprise relationship software |
Join us This Thursday as Steve reveals the answers. He will also discuss how to create a "velocity" spreadsheet of clients that are growing, leaving, new or shrinking, how client teams generate revenue and making cross-marketing work. The bottom line of all his points is pursuing initiatives that give you a return on investment.
Who should attend:
- CMOs and Marketing Directors
- Marketing Partners
- Members of the firm Executive and Management committees.
- Any lawyer who wants to spend a buck, and make ten back.
Don't put it off. Register now.
My feeling is that the most cost effective means of marketing a law firm is to get your website into the top 10 for Google. The processes of making your website number one in search engines is called “Search engine optimization” or SEO.
My own research at http://www.bergstrom-seo.com indicates that you can expect 1.5% of the people that come to your law firms website via a relevant Google search will become clients. This might not seem too impressive, but remember that the average bill for a contested divorce is over $15,000. Thus, the average client that visits your website generates $15,000 x 1.5% = $225.
I always have to do the calculation a few times because it seems too unbelievable. Even if you want to have a ROI on your marketing investment of $10 in revenue for every dollar spent, you can still spend $22.50 on every visitor. So, let’s back up once more…. If you spent $2,250/month on Google SEO, then you only need to get 100/month to get an acceptable ROI on your investment. I generally find that clients who have a monthly SEO budget of 2,000 can expect to see an additional 2,000 visitors/month after about one year. This works out to an additional (2000 x 1.5%) = 30 clients/month. It’s almost too good to be true.
If you’d looking for a good how-to document that describes almost everything you need to know, then check out this PDF.: http://www.bergstrom-seo.com/resources/google-search-engine-optimization-starter-guide.pdf. It’s a pretty long document (22 pages) but it tells you everything that you need to know about SEO. Good luck!