The 7 Immutable Laws of Attorney Lead Generation
- The Law of Value
You get what you pay for. While there are many different types of attorney leads that law firms can buy, cheap leads will always be less valuable leads. They will be tougher to convert into paying clients for your firm. The most expensive leads you can buy are priced that way because it costs more to generate those prospects. But those prospects, by comparison, will always convert into more new clients for your firm as a percentage of leads purchased – and will take much less effort on your part as well. When you add in the value of the extensive time involved to convert cheap leads into clients, the pricier ones will always be a better value.
- The Law of Time
Attorney leads are only as valuable as they are fresh. Time is of the essence. The more time it takes for you to talk to a prospect after he makes his first inquiry, the tougher it will be to convert that lead into a paying client. This is especially true with email leads. Your best chance at converting a prospect into a paying client is when he calls and speaks with you directly at the moment he’s interested in setting an appointment to resolve his legal issue.
- The Law of Intention
The value of a lead is in the intent of the person inquiring. What is the source of the attorney leads you are buying? What is the true intention of the person inquiring? Is the prospect’s intent to set an appointment with you and potentially hire you to resolve his legal issue, or to simply to get information? Leads generated from lists and common content email forms are people simply looking for information. These prospects are not intending to hire a firm at that moment – which severely depresses the value of those leads. On the other hand, leads that are live phone calls of people who have searched the internet to find a local attorney to meet with – are extremely valuable. These people do intend to hire an attorney.
- The Law of Sales
A lead will not close on its own. It’s still up to you to make the sale. The ultimate success of your lead generation program is in your firm’s own skills and ability to close the leads you receive. While some sources of leads are considerably more likely to convert into paying clients than others (see Laws 1, 2 and 3), it will still take a certain amount of effort on your part. Leads require sales to become clients. The better you are at sales, the better the ROI of any lead you buy.
- The Law of Experience
The more experienced you are, or your lead generation provider is, at attorney lead generation, the more successful your campaign will be. With experience comes knowledge – which offers, content, strategies, etc. pull the best prospects and result in the best ROI. If you are new to lead generation, it’s well worth working with an experienced legal lead generation partner.
- The Law of Visibility
Before a prospect can call you, he first has to be aware that you exist. The core of every attorney lead generation program, no matter which media strategy it uses, relies on providing visibility for your firm to an audience of potential clients. The better your exposure to the right prospects, the stronger your lead generation program will be. Of course, visibility costs money.
- The Law of Cash Flow
You must have your law firm’s cash flow process working properly or your lead generation efforts will quickly come to a halt. Always pay for your lead generation with delayed terms, so you get the leads first, have the ability to close them, and can start to collect money from the clients they produce, before you have to pay your lead provider if at all possible. To maintain cash flow, you need a steady stream of new clients month in and month out.