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The State of Online Marke ng in the Legal Industry 2014A Mar ndale Study
It’s 2014. Law firms–and clients–are well into the Internet age. It’s no longer possible to ignore that theInternet has permanently changed the legal industry.At Mar ndale our mission is to help law firms of all sizes grow their businesses so we commissioned a studyto get a real- me look inside the way the legal community approaches online marke ng.The result: a fascina ng and insigh ul look at the current state of how law firms market their prac ces anddevelop new client rela onships–and many valuable takeaways for all types of prac ces.About the DataAs part of this study, Mar ndale surveyed more than 300 clients regarding their firms’ marke ngini a ves. Survey respondents represented a wide range of prac ces, from solo prac oners to firmswith more than 50 a orneys on staff. Virtually all areas of prac ce were represented.Online Marke ng: All Grown UpAs the Internet has matured, online marke ng ini a ves have rapidly supplanted tradi onal marke ngefforts (such as direct mail and phone book ads) in marke ng budgets: 65% of respondents spend more than half of their en re marke ng budgets on online ini a ves 78.4% of respondents reported that online marke ng techniques (including lead genera onservices, SEM, SEO, and social media) are their best performing adver sing mediumHow much of your marke ng budget is spent online?39.6%25.4%18.5%16.5%76% to 100%51% to 75%26% to 50%0% to 25%What is your best performing adver sing medium?43.2%Lead genera on services(such as Nolo.com and Lawyers.com)17.6% SEO15.3% Other13.6% Search Engine Marke ng(such as Google Adwords orpay-per-click campaigns)4.1%Blogging social media profiles(Facebook, Twi er, LinkedIn, etc.)2.6%2%1.7%Yellow pages/phone book adsTV adsPrint ads(in trade or consumer publica ons)Need to Know: The legal industry is well into the age of digital marketing, and online marketing resources havebecome essential tools for firms of all sizes and areas of practice. If your firm isn’t utilizingonline marketing techniques, you’re likely not getting the most from your budget.
Lead Genera on Is Cost-Effec ve—and Effec ve, PeriodOnline lead genera on is the most cost-effec ve online marke ng technique across a range of firmsizes and budgets, bea ng out other online marke ng solu ons: 43.6% of survey respondents said online lead genera on services account for more than 25% ofnew business—and among that group, half report that lead genera on services account for morethan 50% of new business On average, online lead genera on services are three mes more effec ve than search enginemarke ng ini a ves, according to survey respondentsWhat percentage of your new businesscomes from online lead genera on services?Leveling the Playing FieldDue to its cost-effec ve nature, online leadgenera on is helping to level the playingfield when it comes to prac ce development,providing unprecedented new opportuni es forfirms of all sizes to grow.Historically, larger firms with bigger budgetscould buy bigger ads or send more direct mail.But the compara vely low cost of online leadgenera on services puts smaller firms in a moreequal posi on to develop their prac ces.56.4%25.1%13.3%5.2%0% to 25%26% to 50%51% to 75%76% to 100%Addi onally, online lead genera on works forall phases of firm development: it’s ideal forquickly establishing a client base for new firmsand can help rapidly grow established firms.What is your best performing adver sing medium?43.2%Lead genera on services(such as Nolo.com and Lawyers.com)17.6% SEO15.3% Other13.6% Search Engine Marke ng(such as Google Adwords orpay-per-click campaigns)4.1%Blogging social media profiles(Facebook, Twi er, LinkedIn, etc.)2.6%2%1.7%Yellow pages/phone book adsTV adsPrint ads(in trade or consumer publica ons)Need to Know: Most attorneys can’t solely rely on referrals for new clients. Lead generation services will giveyou constant exposure to a consumer base that is looking for an attorney in your area. If youhaven’t tried lead generation in the past, or even in a while, you should. It levels the playingfield for small and large firms to grow their businesses.
You’ve Got the Leads. Now What?The way firms handle and track inbound leads can vary widely—and there’s room for improvementacross the board: 70.7% of survey respondents respond to leads within one hour, but only about half of thoserespond within 15 minutes Just 14.8% of respondents a empt to contact leads more than three mes 25.9% of respondents do not track leads in any formNeed to Know:Response times longer than onehour should be considered missedopportunities. It’s crucial to respond toleads as soon as possible, or another firmwill likely beat you to the punch. Likewise,nurturing leads that could easily be writtenoff as “dead” is equally important, as it canhelp firms engage new clients that wouldotherwise be left on the table.If you do any sort of advertising ormarketing online, chances are you will getsome leads that are not going to be greatcases. It’s important to take enough timeto evaluate your return on investment andto not expect every lead to convert to apaying client.On average, how soon do you follow up onleads from lead genera on services like Nolo?36.8% Immediately–within 15 minutes33.9% 15 minutes to 1 hour18%Within one day10.4% 2 to 4 hours0.9%One day or laterOn average, how many mes do you a emptto contact a lead before giving up?63.9%2 to 3 mes21.4%1 me11.9%4 to 6 mes2%7 to 10 mes0.9%15 mes
How do you track your leads?25.4%25.4%26.3%22.8%OtherMy firm doesn’t track leadsExcel spreadsheetCase Management System/CRM systemLead Nurturing: Tips for SuccessMar ndale analysts recommend the following best prac ces regarding handling and tracking leads: Make every effort to respond to leads within 15 minutes Make a minimum of three to five a empts to contact each prospect Call every lead–the informa on included in the submission may not contain informa on thatwould qualify them If you don’t receive a response a er three to five a empts, check back with the leads in the future Track your efforts, even if you only use a simple spreadsheet; this can help you iden fy andresurrect dormant leads Mar ndale research has shown that you are more likely to have a higher ROI if you arecommi ed to improving the speed and persistence of your follow up
About Mar ndaleMar ndale is a powerful pla orm for a orneys to market their prac ces online, combining thestrengths of Mar ndale-Hubbell’s a orney-facing resources and Nolo’s consumer-focused networkof sites. Mar ndale is uniquely qualified to offer online services for law firms: by understanding theneeds of a orneys focused on growing their prac ces and the prac cal needs of consumers focusedon finding the best a orneys.Mar ndale is a division of Internet Brands (www.internetbrands.com).
70.7% of survey respondents respond to leads within one hour, but only about half of those respond within 15 minutes Just 14.8% of respondents a empt to contact leads more than three mes 25.9% of respondents do not track leads in any form Response times longer than one hour should be considered missed opportunities.
