Tale of the Tape
Our data-based approach delivers quantifiable results to prove our clients’ returns on investment.
We don’t like to brag (okay, yes we do!), but here are quantitative results pulled from monthly client report cards and other data sources. Do you have the level of tracking and reporting in place to understand your results, acquisition costs, and ROI? If not, reach out to us today.
Google reviews – slow and steady wins the clients. You’re surfing the competition on Google and see that other firms have a bunch of 5-star reviews from happy clients. Those orange stars really stand out on the page! How do your competitors do it? One at a time, or actually 3-4 per month. Maintain a steady pace, and when you look back a year from now, you’ll be very happy with the results. Here’s what we’ve been able to generate for a few of our clients:
- 10 to 111 over 2.5 years, 4.9 stars
- 35 to 167 over 3 years, 4.6 stars
- 0 to 187 over 4 years, 4.8 stars
Check out next month’s newsletter for some great Google review campaign tips!
“No one opens my email newsletter,” said too many prospective clients to count. So what’s the average open rate for a monthly email newsletter? We normally see open rates of about 20%, which is a function of the:
- Audience – business tends to have a lower click-through rate than consumer
- Subject line – needs to be compelling to encourage the click
- Content – interesting, educational content summarized for a quick glance on a cell phone
On average, 1 in 5 recipients see something in the subject line worth clicking. The other 4 are reminded of your firm, and you’ll have a chance again next month to attract them with new content. They like what you have to say enough to stay subscribed. Mission accomplished.
You’ve already paid a lot of marketing money to generate new business opportunities. How do you measure what happens after someone responds to your marketing tactics? Here are some marketing (or sales) ratios to use, including benchmark-worthy results. How do your stats compare?
- Website conversion ratio – percentage of unique website visitors who contact the firm – 19%
- Contact to consult ratio – percentage of callers who schedule a consultation/meeting – 56%
- Attorney close ratio – percentage of prospective clients who become clients – 72%
Events can be a great way to reach, engage, and stay in front of your prospects, clients, and referral partners. But, just like any other marketing activity, they require extensive planning and preparation to ensure people will actually show up. Before you set up yet another happy hour, consider the venue, location, and format (individuals, couples, families) that will be most appealing to your target audience.
Here are some of the coolest events we’ve organized over the last year:
- SunTrust Park and Mercedes-Benz Stadium tours
- Brewery/distillery/winery tours and tastings
- Private movie viewing party
- Paintball war
- Family carnival
- Competitive cooking class
Even if someone doesn’t show up, you still get credit for the invitation! Contact us if you’d like to brainstorm ideas for creative ways to reach your target audience.
As we approach the end of the year, did your 2018 marketing program meet your expectations? Would you even know if it did?
Here’s some of the quantifiable growth we measured for our established clients:
- Marketing-generated leads – up 56%
- Client consultations/meetings – up 36%
- New clients – up 24%
- Marketing-assisted revenue – up 49%
Contact us if you’d like to get a better grasp on your marketing return on investment. If you can’t measure it, don’t do it!
Are email newsletters really worth it? If you said no, maybe you’re just not be doing it right. Our average client newsletter open rate is over 20%, meaning 1 out of 5 recipients is opening them.
Here are a few tips to improve your results:
- Summarize – provide a brief summary of each article so people can quickly scan. They will click to read more if interested.
- Understand the media – assume that most people will be reading this on a mobile device. Can you read it on your cell phone?
- Speak their language – keep it short and sweet. You may have a lot to say, but readers will give you a few seconds to make your point.
If you’d like to create more compelling content, please contact us.
Now that we’re halfway through 2018, let’s look at some first-half client metrics as compared with first-half 2017:
- Marketing call volume – up 47%
- New client volume – up 56%
- Marketing-assisted revenue – up 68%
- Average case value – up 81%
We sit down with every client to review results – good and bad – and continually adjust, enhance, and replace to optimize results.
Did you know that Google Analytics reporting includes the total times your website shows in the search results? Here are average monthly search impressions for some of our clients:
Individual search engine rankings are meaningless if no one searches for those terms. Total search engine exposure is the metric that drives business.
This month, let’s look at Google My Business (GMB) data for our Atlanta clients, as reported by Google Insights.
- 58,410 views – our clients, and their 5-star reviews, show up in both search and map results.
- 4,314 actions taken – 7% of those who saw the listings clicked to view, get directions, or call.
- 1,790 phone calls – just in case you thought everyone was clicking for directions!
For law firms and other professional services organization focused on consumer and small businesses clients, GMB can generate a tremendous amount of exposure and phone calls – for free. You just need to know how to effectively use it.
Here are a couple of quantitative results pulled from monthly client report cards.
- Average 2018 ROI of 9.88, or $9.88 of marketing-assisted revenue for every $1 invested.
- Average 2018 ROI of 11.62, or $11.62 of marketing-assisted revenue for every $1 invested.
Return on investment (ROI) is a key indicator of marketing success. What’s your marketing ROI?
Here are a couple of quantitative results pulled from monthly client report cards. Marketing doesn’t end with a click or call. It’s critical to keep track of what happens AFTER the phone rings:
- 27% of marketing contacts (phone calls, emails) resulted in prospective client meetings
- 36% of new client revenue directly linked to marketing activity
Marketing doesn’t end with a click or call. It’s critical to keep track of what happens AFTER the phone rings.
Here are a couple of quantitative results pulled from a monthly client report card:
- 2017 marketing unique call volume – up 22% vs. 2016
- 2017 cost per unique contact – down 22% vs. 2016
If you want to measure your results like this, contact PracticeProfs today to discuss your business goals and marketing program.