This is the final post in my three-post series this week on the three ways to fire up your law firm’s profit potential. Click on the following links to read the first post in the series and the second post in the series.
Improve Lead Nurturing & Conversion
Do you have a system in place that generates high quality leads for you every week? Do you have a system that nurtures those leads along a predetermined path until they are ready to call you for a consultation? Do you have a way of sending regular communications to all your former clients and all your referral sources every month just to keep you “top of mind” for their legal work?
I understand every attorney wants the “one call close.” Unfortunately, it doesn’t usually happen that way. Many people who initially contact your firm are still in the early stages of making a decision, meaning that they are still researching attorneys looking for the best fit or they just aren’t ready to come in for a consult yet. However, they might be ready next week or next month.
If you’re spending time and money generating leads, but you don’t have a drip marketing system that can follow up with these leads until they are ready to buy, then you are likely losing dozens and perhaps hundreds of clients every month!
Five Steps to Manage & Convert Leads
No. 1 – Only ask for crucial information. Research shows that contact forms with only three fields convert 25 percent more leads than those with more fields. You really only need a name, phone number and an email address these days. People don’t want to give out more than that for a first contact, so don’t put stumbling blocks in your own way right off the bat. Keep it simple.
No. 2 – Follow up fast. You can have an assistant or an intake specialist follow up with a lead. You can program auto responses that immediately follow up once you receive a new lead. Every single lead must be called back within five minutes or less. The faster you call back a lead, the more appointments you will set. Studies show that after an hour passes with no response, the chances of doing business with that lead are reduced by 400 percent.
No. 3 – Make it all about them. Be sure you ask the right questions and record the information you receive from the lead in a central place, such as an excel spreadsheet or an intake form (or a software program) so whoever is tasked with another follow-up has all the information they need to make a smart decision on whether to move forward with that client or not. Nothing is more annoying to a prospect than having to repeat themselves.
No. 4 – Focus on the next step. The goal of that initial call should be (1) qualify or disqualify the lead and (2) get all the qualified leads into your office as quickly as possible.
No. 5 – Play the long game. According to inbound marketing firm HubSpot, 50 percent of new leads are not ready to buy right now, but they may be ready to buy later. This means to convert the maximum amount of your leads, you need a system in place to stay connected with them over a long period of time. Having a lead conversion system in place that allows you to pre-program a series of emails or text messages to automate the process of nurturing prospects, takes all the pressure off your back while still getting the job done.
In today’s hyper-competitive legal services market, necessity will surely be the mother of your reinvention. Don’t be afraid to make the necessary changes that will profit your practice in 2016.
A topic that should be at the top of every law firm’s radar is how to improve your intake and lead conversion. This skill is woefully overlooked by most attorneys, who continue to focus 99% of their efforts and money on lead generation, fallaciously thinking this will solve their declining revenue problems.
Logically speaking, why would someone continue to spend an increasing amount of money on lead generation if they aren’t doing everything they can to actually convert those leads into paying or retained clients?
Lead generation too often comes down to a firm’s financial ability to “throw money at the problem,” but a lead conversion system can level the playing field and give small firms a true unique competitive advantage.
In the new free report, Why Your Law Firm is Failing at Lead Conversion, you will discover:
- The 12 critical steps to set your law firm apart and convert more leads into clients
- The shocking results of our secret shopper calls to 126 law firms
- How to create a true, unique competitive advantage
- How to dramatically improve your intake process to convert more clients
Get your FREE report now on Why Your Law Firm is Failing at Lead Conversion and start succeeding at turning prospects into clients!