Search by keyword, such as: divert, calls, chats …

3 reasons why your firm should invest in marketing right now 

Research suggests that 94% of law firms are spending more on marketing now than they were five years ago. 

In fact, firms today have more dedicated marketing resource than ever before, with 60% having allocated a marketing manager or team to deliver growth. However, despite this significant increase in activity and budgeting, the legal sector still fares well below average when it comes to marketing spends.

60% of firms have a dedicated marketing manager or team.

In the turbulent climate ahead, firms will need to work even harder to generate new business and remain agile as the competition becomes more fierce. Marketing will be an essential component of this. But has your firm dedicated enough time and resource to the cause? Or do you still need some persuasion?

Below, we explore three reasons why it’s time your firm invested in more marketing:

Time is of the essence

It’s no secret that the legal sector faces huge time pressures. In fact, a study by Bloomberg Law found a lack of time to be a lawyer’s top challenge today. With fewer than 1% of firms having the people or processes in place to capture every new inquiry, a lack of time is almost always the biggest threat to a law firm’s growth.

35% of calls to law firms result in a new inquiry.

We know that 35% of calls to law firms result in a brand new inquiry, equating to an enormous $266m of revenue for US law firms – this is proof that missing even just one call could cost your firm big business.

Ensuring you have the resource in place to capture every call – in and out of office hours – is a simple yet hugely worthwhile step in optimizing your lead process and generating more revenue for your firm.

Outsourcing phone answering is a cost-effective and flexible way to achieve this, guaranteeing every caller receives a professional and prompt response around the clock, and that no opportunity slips through the net – all at the fraction of the cost of hiring someone in-house.

New tech drives more inquiries

Today, 97% of law firms say they’re willing to try new technology in a bid to attract more client inquiries. With the average case said to be worth £4,000 – even just one lead can make a world of difference.

97% of firms are willing to try new technology.

Dabbling in new tech shouldn’t be reserved for just bigger firms either; the right tool can open up doors to entirely new markets and many more conversions, irrespective of your size.

Live Chat, for example, can be a great alternative channel to triage client inquiries and engage with those curious browsers who aren’t quite ready to pick up the phone yet. What’s more, enquirers via live chat are said to be more open to discussing personal information than any other marketing channel – offering up valuable insights and giving you new opportunities to nurture prospects.

Make smarter decisions

In a challenging environment, efficiency becomes even more integral to your success. Being able to stand out from the crowd has become a whole lot harder. Investing in analytics with tools such as Google Analytics, for example, will allow you to gain deeper and more meaningful insights around your client behaviors – helping you to understand their needs better while giving you the data you need to grasp what’s working and what isn’t.

By simply looking at areas such as bounce rate and where people are clicking and converting, you’ll be able to make valuable decisions and adapt your activity accordingly to gain better results, allowing you to reduce aspects like cost per lead and customer acquisition.

How can Moneypenny help?

As the #1 outsourced communications provider to the legal sector, we help hundreds of law firms, just like yours, win more clients and get ahead of competitors. Our flexible call answering and live chat support helps your firm thrive – leaving clients with a brilliant impression, every time.

To find out how we can help you maximize every dollar you spend on marketing, call us today on 866.202.0005. 

We give you amazing people and technology:

Phone Answering

Your own Moneypenny Receptionist to answer calls exactly as if based in your office.

Discover >
Live Chat

Amazing people, briefed by you to manage chats whenever you can't.

Discover >