In July’s PILMMA Marketing Roundtable, Cassidy Lewis sat down with Marketing Director Mike Wells from GOLDLAW to discuss KPIs. Mike manages an amazing team of seven marketing professionals who generate leads through digital and traditional marketing, community outreach, referral relationships, and client relationships. In this roundtable, he shared the how’s and why’s behind the KPIs he monitors obsessively, and PILMMA members were able to jump in with questions and input throughout the call.
ICYMI: Today, we’re sharing with you some key takeaways from Mike’s presentation and this discussion as a refresher on KPIs. Feel free to share with your marketing team – but don’t forget to join next month’s roundtable for a front row seat at these crucial conversations!
Reminder: As a PILMMA Gold or Mastermind member, you have access to all recordings of all prior roundtables via your Member Resources account – and you’re able to join all future roundtables LIVE by jumping on the monthly call.
MONITOR METRICS: LEADS
First, the Metrics (KPIs) your marketing team should be watching obsessively:
- Number of all leads (daily, monthly, quarterly, annually)
- Number of qualified (wanted) leads (daily, monthly, quarterly, annually)
- Number of qualified leads converted into new clients – “sign ups” (daily, monthly, quarterly, annually)
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“The whole purpose of driving people to contact your law firm is for a service consultation that ends with a signed contract. Generally, the more “right fit” leads you generate, the more calls or form submissions you get. If you’re doing it right – the more conversations your intake team will have and the more clients, they’ll sign up.”
MONITOR METRICS: GOOGLE ANALYTICS
“Google analytics lets you see how people find your website.
- Do they come from search engines?
- Where do they land?
- How long do they stay?
If you monitor these metrics and realize clients rarely find your site through organic search, consider how you can improve your site’s inbound content marketing.
Google – and the rest of the search engines – value useful, relevant, readable, and unique content. Improve your content and you’ll improve your standing on the search engines.”
COLLECT DATA: CLIENT INFORMATION
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“The more you know about your best clients, the more you can use that information to guide your marketing decisions and content creation for campaigns. We collect demographic data and conduct client surveys. We also track behaviors for “ideal new clients” online with Client Google Analytics (website behavior), Google Search Trends (what are they searching for), Social Media Analytics (engagement rates and trends), TV Viewing Habits (Nielson, Comscore), etc.”
IDENTIFY: WHO IS YOUR IDEAL CLIENT?
“Take time to define what a quality lead looks like at your law firm.
- Who is your ideal client?
- What do they want when they find your website?
- Do they just want contact information to call you immediately?
- Or do they want to spend some time on the site looking around, getting to “know” you, and exploring your experience before deciding whether they’ll reach out?
If your display ads generate plenty of traffic (but an abundance of irrelevant leads), your campaign is underperforming (and probably dramatically). You might reevaluate that campaign to improve the quality of leads it generates, which would, in turn, increase the likelihood that you’ll turn those quality leads into profitable clients.”
CALCULATE: CONVERSION RATE
“Calculate your marketing campaign’s return on investment (ROI) by dividing all campaign expenses by the number of clients you acquired during the designated time frame.
Because “average profit per client” ranges from firm to firm and market by market, the rate of acquisition costs per client varies wildly. Ideally, the overall cost you pay to acquire a customer remains on the low side while the value you generate from each client continues to grow over time.
If your customer acquisition cost is prohibitively high, or if you notice it creeping up over time, reevaluate your marketing and sales efforts.
- Are your costs increasing?
- Or is your overall client acquisition rate declining? It may be a good time to check your online client reviews and request feedback from clients.
Eventually, you’ll realize that tracking where leads come from (organic search, referrals, social media, email marketing, etc.) is a somewhat empty metric without more context.”
One FINAL KPI: GOOGLE REVIEWS
“Google Reviews is another KPI that we measure. We set a quarterly goal here, and our client relations manager is incentivized to make sure we achieve that number.
Google Reviews actually help your rankings in Google searches and in Google verified – so consider setting a monthly goal for Google Reviews and incentivizing your staff with a bonus for each review that mentions them.”
Thank you, Mike, for sharing, and Cassidy for facilitating this roundtable for PILMMA Members! To access this recording and all prior roundtables, go to www.pilmma.org/member-resources. To connect with Cassidy, email clewis@cooperhurley.com. To connect with Mike, email mwells@800goldlaw.com .
