Fastest Growing Law Firms Think About Marketing Differently

We both know that having a combination of both leads to a holistic, successful marketing campaign for an entire law firm.

But Do you have a thought on firms that are maybe in the storm right now trying to just generate leads? Is there one path they should be looking at more than the other? And is there a certain point that a law firm should say, okay, now I should really start to consider some of the longer term branding and marketing? it's a cash

flow reality question and the problem is the solution makes the cash flow problem worse what do i mean by that direct response channels i am looking for a lawyer i need to hire them today i'm going to do a google search or search on tick tock or whatever it might be and i'm going to click on an ad and i'm going to hire that person in the next 24 hours right Those channels are well played.

They are well monetized by the publishers and they are really expensive.

And so if you need business today, your cost per acquisition, your CAC is going to be high as a percentage of the value of that matter.

That is just a fact.

You need to figure out how to convert as many of those as possible.

You need to drop your standards.

I'm really picky.

I only take really good cases.

No, you don't.

Not if you're running pay-per-click because you will... you know, leverage yourself out.

You will picky yourself out of business if you continue to do that.

The marketing people don't think about this at all, but they should.

You need to actually maximize the value of the matters that you're getting, right? So like- Well, I just talked to a firm the other day, their target CAC is $2,700.

Well, if I can increase the value of those matters by 10%, which is not a lot, that 2,700 can be 3,000, right? And when you get to 3,000, that opens up another part of the market that you can actually take, right? And so there are elements to that that you need to think about.

But the problem is if you need cases right now, us marketing people, we know where those things are and therefore they're all really expensive and people have figured out how to monetize this really, really well.

That's point number one.

Point number two, you should always be working to get more business out of your referrals.

Previous clients, relationships that you have, go out of your way to stay in touch with those people, stay in front of those people.

That is a really, really small expense.

It has two things.

It's not going to turn into 40% of your business in a growth-oriented firm.

At best, it's gonna be five to 10% of your business.

which is great because that's a very cheap five to 10% of your business.