Your advertising might be generating leads, but if you don’t know the ROI for each of your marketing channels, you won’t be able to tell which channels are cost-effective.
41% of lawyers do not have access to marketing analytics, according to the ABA’s 2019 Website and Marketing Report. What’s worse? Of the 38% who do have access to these critical analytics, 41% of lawyers never view them. These numbers are alarming, as lawyers who measure marketing effectiveness can invest more time and money into high-conversion channels and eliminate wasted ad spending in the process.
As they say, knowledge is power. Almost half (48%) of small to midsize 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 fundamental knowledge about where marketing leads are coming from, law firms are simply unable to make the most informed budgeting and programmatic decisions. That’s a big problem!
Ask yourself these 3 questions to begin to ensure your law firm is effectively utilizing marketing analytics to boost positive ROI:
Do you know which of your marketing channels is getting the best ROI?
Your advertising might be generating leads, but if you don’t know the ROI for each of your marketing channels, you won’t be able to tell which channels are cost-effective–or, which ones are driving the most valuable leads.
To determine ROI, look at each of your marketing channels–whether Google Ads, social media, print advertising, or another channel–and divide their cost by the number of leads they generate. For even greater insight into marketing performance, use call tracking and form tracking solutions.
Once you’ve determined the ROI of each of your marketing channels, reduce your spend on the channels that aren’t converting visitors into leads, and increase your investment toward well-performing channels to bolster lead generation. It’s as simple as that–and will save you lots of money in the long run!
Do you know where your best leads are coming from?
Great marketers commonly use attribution software to track online clicks and conversions. So if you’re not tracking calls or form submissions, you’re missing critical insights. With call tracking and form tracking, you’ll know precisely which keywords, marketing campaigns, and ads led to your best calls and lead conversions.
When lawyers know where their best leads are coming from, they can optimize those marketing channels to increase their lead generation and lower advertising costs. More data means smarter decision making.
Is your website optimized to generate high-quality leads?
Every business has a website–and your website should be optimized to generate high-quality leads, no matter where they come from. But according to CallRail’s new research, 51% of individuals employed by law firms that commission fewer than 1,000 employees nationwide said website optimization was the biggest challenge their firm faces when it comes to online marketing strategy.
Man holding a tablet with “Online Marketing” on the screen; image by muneebfarman, via Pixabay.com.To improve your website optimization, you’ll need to test different elements—such as your site design, images, and headlines—until you find a combination that generates the most leads. Using call and form tracking data, a lawyer can see which element combinations drive the most calls and website requests to their business and apply those principles across their website to increase lead generation.
Let’s face it: Marketing a business is often challenging, time-consuming work, especially for small business owners with a million tasks on their plates. Deploying an advanced marketing analytics and business communications platform like CallRail, a lawyer can identify the dynamic element combinations that drive the best leads to their business.
To learn more about the benefits of marketing analytics, check out this Content Hub from CallRail.
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