Attorneys nowadays are bombarded with options to generate leads for their law firms. Choice basically boil down to two options, Pay-Per-Lead or a long-term digital marketing system. You may be surprised to learn that the short-term decision to pay-per-lead is not always the best long-term decision.
One can understand the immediate “wow” factor when an attorney learns they can get bankruptcy leads for “just” $50. Afterall, who doesn’t want to save money while growing their law firm. However, the “you pay for what you get” analogy often applies here.
Most of the pay-per-lead models can offer “cheap” leads simply because they are run through 3rd party directory sites and other “farming” methods. Often attorneys are competing with a pool of other attorneys who get the same phone call. It ends up being the “luck of the draw” when it comes to quality.
There is a major difference between an individual calling your direct vs. contacting you through a 3rd party service. What’s the difference? Your client close rate is going to be much higher when someone is calling you direct. This is especially true since a prospect who has found your brand online has conducted some initial research and is convinced your firm is credible vs. a blind submission on a random site.
The pay-per-lead model enables you to pay less per lead, but you could end up needing more leads before you are able to obtain an actual case. Alternatively, engaging a direct marketing strategy for obtaining bankruptcy leads, places you at an advantage. You are trusted as prospects have verified your brand are more motivated to hire your firm.
Another consideration is the quality of the cases. If someone is willing to pay more for “quality “ legal advice, they are most likely not going to reach out to a third-party website. In-turn law firms most often will need to engage additional marketing efforts to land profitable clients. Typically, the higher value the client, the more direct your marketing should be.
By implementing a long-term strategy to build your brand online, you are in essence building an asset. Several online signals such as a quality website, engaging social channels, great reviews, and an overall impressive digital strategy are worth their weight in gold. Doing such portrays you are willing to invest in your business and in turn individuals are willing to invest in you!
When prospects have identified your firm as credible, the quality of your leads automatically increase. This is true simply because these prospects have already done their research. It goes without saying, you must have an attractive offer, answer your calls timely, and respond to form leads quickly. These three factors alone will significantly increase your close rates.
Another major consideration when mapping out your lead generation/digital marketing strategy, is the long-term opportunity cost when choosing low cost / low quality leads. You lose valuable brand equity each month that passes. Your future brand could mean the difference between long-term success or failure.
What happens if suddenly the leads start “slowing” down? As new practices open up, its’ likely the competition for those leads will continue to increase. What now? For the past year you have been purchasing leads with no improvement to your brand or online authority.
Now, let’s look at the alternate. At Bounce Legal we believe in building our clients brand online by implementing a robust (long-term) digital marketing system. Our digital system includes quality content that bolsters your brand and expands your reach. Each year we work together is another year of significant improvement to your online brand.
In summary, paying per lead can be a risky game, as it tends to conceal a larger challenge that many law firms face. Often attorneys that use the pay-per-lead model, have internal marketing deficiencies. For example is their website up to par, do they have a content marketing strategy, are they visible online?
These digital strategies simply take time! To develop a solid presence online you need to invest in your marketing. Paying per lead masks these neglected marketing objectives. If left unresolved for a long period of time, many attorneys can get in a place where it’s difficult to rebound.
Attorneys must always prioritize long-term success vs. short-term gain. If buying leads enables you to ignore these tasks, you need to sit back and reconsider your strategy. Every law firm should ask this question honestly and take action to avoid this major pit fall.
About us – Bounce Legal is a legal marketing agency for bankruptcy attorneys, in addition to digital advertising experts. We serve clients on a local and national basis. On top of providing digital marketing solutions, we’re experienced in generating leads, search-engine marketing advantages, Google Ads advertising (pay-per-click), Search Engine Optimization services, social media marketing, and more!
Your website most certainly is just the beginning, as success in our digital markets relies on search prominence and increased visibility to many advertising outlets. Our bankruptcy marketing agency is glad to assist you with any kind of questions you have. Schedule your Free Demo now and learn how we’re able to help your law firm control your local market.