What is the biggest opportunity available for your law firm to generate more revenue? Marketing is not a one time setup. You need to constantly be looking for opportunities to improve and grow your business. The methodology we use to identify opportunities for our clients is the “Theory of Constraints”.
Over the first 12 months of relaunching the website and implementing our developed marketing strategies, The Nava Law Firm saw a substantial increase in lead generation, and revenue.
Over the first 10 months of launching a new website and implementing our developed marketing strategies, the Immigration department of Rose Law Group saw a substantial increase in lead generation from the web.
When determining which opportunities to pursue, you need to first understand where your firm is going. You need to understand what your short and long term goals are for your firm. Fast forward 10 years from now. In 10 years, do you imagine yourself having many associate attorneys under you? Do you want to stay small and get to the point of only taking on the specific types of cases you want? Your goals are allowed to change over time, but in order to start your firm’s growth, you need to plant your flag somewhere. Once you plant your flag, you will be able to start looking for opportunities to move closer to that flag.
If you are looking for an opportunity to improve a strategy you already have implemented, then you’ll want to use the theory of constraints model. The Theory of Constraints model takes a scientific approach to improving results and generating more revenue. This methodology works on the presumption that all complex systems consist of multiple links where one of the links is always the weakest. When looking for a new opportunity to generate more revenue, you will want to look at the current marketing system you have in place and identify which link in the chain is the weakest link. Once you have made that identification, you can then focus your time and efforts on improving that link. When that link is improved, by default there will be a new weak link that needs to be worked on. This is how you get continuous improvement and more revenue over time.
Are you making your improvement decisions based on data? In order to successfully capitalize on opportunities, you need to make your decisions based on data. When you start to tune your decision making based on data you’ve collected through other marketing efforts, you will notice that your success rates with new opportunities will go up. An example of a data based opportunity could be the conversion rate of your website. The conversion rate of your website is the number of people contacting your firm for a consultation divided by the number of people that land on your website. If your website has a poor conversion rate, then that may be the weak link in the chain and you need to analyze your website data to see why people aren’t contacting your firm.
Wasting money as a startup, solo or boutique law firm can be a critical error. There are a lot of ways to waste money in misguided marketing strategies. Once you start your law firm, you have to make sure every dollar spent is getting you a return on your investment. Because of this, you need to focus marketing dollars on “In Market” consumers. When you are looking for opportunities as a small firm, you want to make sure that you can tie those opportunities to getting new business quickly so that you can generate revenue.
One thing that is critical to understand is your potential customer. All opportunities need to be focused on your prospects' experience when determining which law firm they want to retain. The prospect is dealing with a real world issue and they need an attorney that is going to be the perfect solution for their problem. If you put your prospects' experience first and foremost, you will have a high success rate on those opportunities.
At Lab Coat Marketing, we sit down with our clients in the legal field with the goal of understanding their business inside and out. By understanding their business and by understanding what the future goals are, we develop a comprehensive marketing plan that targets the specific case types our clients want for their firm.
Our marketing firm is based out of Arizona, but can serve every state in the US. If you are in need of an experienced, results driven marketing partner, please contact us today to schedule your free marketing consultation.
Over the first 9 months of launching a new website and implementing our developed marketing strategies, Nava Law Texas saw a substantial increase in lead generation from the web.
Over the first 8 months of launching a new website and implementing our developed marketing strategies, Fendon Injury Law, PLLC saw a substantial increase in lead generation from the web.
Our client's success is extremely important to us. We work day and night to truly understand the nuances of each of our client's law firms to develop the right marketing strategy for them.
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Lab Coat Marketing was started with the intention of bringing truth to the digital marketing industry. Many law firms need a marketing partner that will look out for their business and approach marketing from the global perspective to make sure they are generating new clients and getting a good overall return on their marketing investment.
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