Helping Attorneys Grossing under 100K Break the 6-figure Barrier.
The Power of Referrals
When I first opened my law office, I sincerely believed that internet advertising was the best way to generate potential new client (PNC) leads. There was no end to the search engine optimization (SEO) and online directory companies only too happy to capitalize on my naiveite. I remember having a series of mind-numbing conversations with my “SEO specialist” about the lack of calls that my monthly $400 payments were generating. My SEO specialist, in a tone denoting that I was focusing on the wrong thing, tried to reassure me that firing her company before the one-year mark was unwise given the analytics showing the number of people who had clicked the link to my website. What? I couldn’t care less about clicks or views that didn’t result in a client calling my office.
Now I am not saying that you should avoid internet marketing. In fact, having a website for your law office is just as important as having an office and more important if your office is a virtual one. But online marketing is not the most productive or cost-effective way to generate PNC’s, especially, if your office is grossing under 100K. If that’s you or you don’t have an endless stream of referrals, then developing a systematic referral program will ignite an immediate then continuous boost to your income. How do I know?
Well for a long time (about one year and eight months) I avoided picking up the phone and calling people I knew to tell them about my probate and estate planning services and asking them for referrals. I finally decided to “eat the frog” in September 2017, and began calling former clients, asking if there were additional services that they or anyone they knew needed and meeting with other attorneys and financial planners to cultivate my referral sources. I wish I had done this sooner because, in the first month, I got five new referrals increasing my revenue by thousands. Who knew that the return on investment (ROI) on referrals was so much higher than internet generated leads? Click that SEO specialist! In fact, statistics show that referrals from attorneys carry, by far, the highest PNC conversion rate with 75% or more being realistic. Next are referrals from other professionals and present/former clients, both well over 50%. Last are internet marketing leads generally running in the 20% to 30% range. The reason for the higher PNC conversation rate with referrals is that the PNC is calling you because someone they trust told them to call you giving you instant credibility.
So hopefully its no-cost and higher PNC conversion rate has convinced you that referral marketing should be the primary marketing activity, especially for developing law offices. If you still can’t resist the lure of internet marketing, skip paying for a featured online profile on AVVO and Lawyer.com and opt for Facebook ads then Google AdWords campaigns as the best bangs for your buck.