This is the next post in my discussion on how you can immediately increase your law firm’s business. My last article provided an overview of topics I’ll be discussing and discussed the fact that attorneys err by thinking that the only way to grow revenue is to “get more phone calls.” I understand the logic behind thinking that increasing phone volume is the only way to grow business. The fact of the matter, however, is firm’s who focus solely on increasing calls are following the same strategy as this guy:
While those who go about things the right way will get the types of results already obtained by this guy:
So, as the legal profession struggles in 2017, do you want to be the former or the latter? Let’s get to it.
Attorneys must focus on converting the calls they already receive
The first discussion in my 30 days to a better law firm series was why attorneys need to convert the calls they’re already getting. Without rehashing that article I’ll say one thing. Virtually every attorney I speak with thinks they’re great at conversions and, to be really frickin’ blunt, very few are. In 2015 we suggested that a client of our attorney web design and SEO services change how he was handling incoming calls. That change resulted in his monthly revenue immediately increasing by roughly three hundred percent without spending a dollar on getting more volume; he simply started converting more of the calls he was already getting into consultations. Focusing on getting more calls, without first cleaning up your conversion process, simply results in you increasing overhead just as quickly (if not quicker) then you increase revenue every time you pay for more marketing.
Improving your conversions is the easiest way to improve your bottom line. I speak with many lawyers who say they’ll increase phone volume first and then worry about conversions. The problem with that is that if you’re already not converting incoming calls then it’s flat out insane to pay for additional calls just so you can fail to convert those as well. Let’s look at two examples which involve an attorney’s favorite thing – math:
- The average case Joe Attorney handles is worth $2,000. Joe gets ten calls in a week and converts two of them into clients. His twenty percent conversion rate (2 clients/10 calls) results in weekly revenue is $4,000 ($2,000 x 2 clients). Joe spends another $500 per week on marketing and gets another ten calls. Since he has a twenty percent conversion rate he’ll bring in another $3,500 ($4,000 of additional revenue minus $500 in marketing expenses). So Joe’s total weekly net revenue is $7,500.
- Jill Attorney’s average case is also worth $2,000 but she converts thirty percent of her calls into clients. This means she starts with weekly revenue of $6,000. If she spends another $500 a week, like Joe, for ten extra calls then her net revenue (after taking out marketing expenses) jumps to $11,500.
Notice something about the above hypothetical? On the first ten phone calls Jill’s revenue is fifty percent higher than Joe’s ($6,000/$4,000). After they each spend $500 on marketing, however, Jill’s total weekly revenue (after marketing expenses) is fifty-three percent higher than Joe’s ($11,500/$7,500). Put another way, Jill was making $2,000 per week more than Joe but after they each spent the same $500 on marketing she was suddenly making $4,000 per week more. All this simply because her conversion rate was ten percent better than his. What Joe didn’t understand was that by not fixing his conversion process first, he kept spending $500 every week and not getting as much out of it as he could have. Over the course of the year, Jill’s better conversion process is going to yield an extra $208,000 over what Joe brings in.
Attorneys can convert more website visitors into clients by following three simple steps
I’ve written quite a few articles on this blog about how attorneys can quickly increase conversions. To make things simple, follow the steps laid out in these three articles:
- Law firms can improve their sales pitch
- Lawyers must communicate through the client’s preferred communication method (one of the points in the article that this link goes to)
- How lawyers can get more online reviews
The thing I can’t stress enough is that you have to have a clean conversion process in place before you focus on improving your phone volume. Not doing so will take you down a rabbit hole into a world where you’re working harder, instead of smarter, and you never get your practice out of first gear. Want to grow your practice? Look at your conversion process, today, and ask which of the above steps you’re missing.
Why do you feel that most attorneys fail to focus on conversions? Please chime in through the comment form below.