Law firms often struggle with the ROI of their marketing. They tend to spend a lot on advertising but don't see a corresponding increase in business. By improving your return on investment, you make marketing more worthwhile and profitable for your establishment. Here are four tips that will help your law firm get the most out of your marketing dollars and improve your return on investment.
1. Traditional Marketing
Traditional marketing is one of the most common ways that law firms advertise. Traditional means creating and distributing advertising through various channels, such as TV commercials or printed flyers in mailboxes. Though not always cost-effective, standard ads are still valuable for a firm that wants to reach many people at once with its message.
2. Digital Marketing
Digital marketing is a newer, more modern way of advertising. This type of traditional marketing doesn't require the firm to spend money on printing or mailing ads but instead relies on social media and internet channels such as Facebook. Online advertisements can be updated in real-time so that law firms know when they are most relevant for potential clients. Because it's possible to target people geographically or by interests with digital campaigns, this form of traditional marketing has an increased chance for ROI than some other forms may have. Professional services like elitelawyermanagement.com may also make a significant difference in generating leads and making targets.
3. Use Google Ads
Google Ads is an advertising program that lets advertisers pay Google when a person clicks on their ads. The advertiser will set up campaigns with specific keywords, and the internet giant will then find the right audience for them by matching those words to people's search terms or browsing habits. When this happens, what they have uploaded about themselves (or has been inferred) becomes available so that marketers can get as specific as possible in reaching out to potential customers who fit into these categories.
This form of targeted marketing could give your law firm increased ROI because you'll be able to reach more relevant prospects without paying extra money for blanket TV commercials or flyers delivered through snail mail channels which might only target half-interested parties.
4. Use Facebook Ads Manager
Paid Facebook ads are a form of online marketing that takes advantage of the social media site's advertising platform. This type of ad is created by an advertiser and placed on a user's news feed to then like or share with their friends to pass it along to more people. The cost of the advertisement will depend on what kind you create, how many potential customers there are who fit your target demographics, and how often they see your posts in their feeds. In addition, Facebook Ads Manager sets up other factors at any given time.
This way can be less expensive than traditional methods such as TV commercials because law firms don't have to pay anything upfront or wait for receipts before knowing if this method has been successful. However, your law firm should make sure they are using all online channels to reach their target audience and have an increased chance for ROI when it comes to digital marketing.
Traditional marketing, when done correctly and with the right mix of digital campaigns, can be an effective way to not only get your law firm's name out there but also increase ROI. By employing all available resources to reach as many potential customers as possible from different demographics online, firms will have a much better chance for success.
Outsource To A Professional
If you don’t have the skills to advertise your law firm, you’ll naturally end up considering hiring someone. Doing so will make sure that your marketing budget is spent as appropriately as possible. While that would improve the return on investment, it’ll also mean paying a full-time wage.
Add in any employee benefits, and that could become much more expensive than you’d initially think. It could be better recommended that you outsource your marketing efforts to a third-party. Not only wouldn’t you have to worry about many of the associated costs, but you’ll see as positive results as you otherwise would have.
Coupled with that are the multiple tools and software you’ll typically need to buy to oversee your marketing strategy. You might find yourself in a position where you only need a marketing agency for a brief period for specific reasons. In those cases, it could be worth going with reputation management companies, or a similar firm.
Doing so will let you only pay for what you need. Taking this approach will not only improve your branding, but do so in a much more cost-effective way than other approaches. There can be multiple other reasons why you should consider outsourcing your marketing, however.
The most notable of these revolve around adding high-quality expertise and support to your team. These will often provide much better results than taking care of things yourself. While that means paying a little more for these specialists, it’ll generate a much greater return on investment long-term.