Your ad may generate leads, but if you don’t know the ROI for each of your marketing channels, you won’t be able to determine which ones are cost effective.
41% of lawyers don’t have access to marketing analytics, according to the ABA’s 2019 Marketing and Website Report. What’s Worse? Of the 38% who Act Having access to these important analytics, 41% of attorneys never see them. These numbers are worrying, as lawyers who measure marketing effectiveness can invest more time and money in high conversion channels and eliminate wasted advertising spend in the process.
As they say, knowledge is power. Nearly half (48%) of small and medium-sized law firms reported that their clients found them through organic social media, while 42% found them via search engines, according to recent CallRail research. Without this basic knowledge about where potential customers for marketing come from, law firms are simply unable to make the most informed budgeting and automated decisions. This is a big problem!
Ask yourself these three questions to start making sure your law firm uses marketing analytics effectively to increase positive ROI:
- Do you know which of your marketing channels get the best ROI?
Your ad may generate leads, but if you don’t know the ROI for each of your marketing channels, you won’t be able to identify the most cost-effective channels – or the channels that drive the most valuable leads.
To determine your ROI, look at each of your marketing channels—whether it’s Google ads, social media, print ads, or another channel—and divide their cost by the number of leads they generate. To get insight into marketing performance, use call tracker and form tracking solutions.
Once you determine the ROI for each of your marketing channels, reduce your spending on channels that don’t convert visitors into leads, and increase your investment toward well-performing channels to boost lead generation. It’s that simple – and it will save you a lot of money in the long run!
- Do you know where your best potential customers come from?
Premium marketers usually use referral programs to track online clicks and conversions. So if you’re not tracking calls or form submissions, you’re missing out on important insights. With call tracking and template tracking, you’ll know exactly which keywords, marketing campaigns, and ads led to your best calls and key conversions.
When attorneys know where the best leads come from, they can improve these marketing channels to increase lead generation and lower advertising costs. More data means smarter decisions.
- Is your website optimized to generate high quality leads?
Every business has a website – and your website should be optimized to generate quality leads, no matter where they come from. But according to new research by CallRail, 51% of individuals working for law firms with fewer than 1,000 employees nationwide said website optimization was their firm’s biggest challenge when it came to their online marketing strategy.
To better optimize your website, you will need to test different elements – such as site design, images and titles – until you find a group that generates the most leads. Using call tracking data and forms, attorneys can learn which combinations of elements drive the most calls and website requests to their business and apply these principles across their website to increase lead generation.
Let’s face it: Marketing a business is often difficult and time consuming, especially for small business owners who have a million tasks on their boards. Deploying advanced marketing analytics and a business communications platform such as CallRail, attorneys can identify the groups of dynamic elements that drive the best leads into their business.
To learn more about the benefits of marketing analytics, check out this Content Center from CallRail.