Hello everyone!
As we think about those New Year's resolutions that we need to keep for 2024, one of the most critical for your firm is to make sure that you are holding monthly operations meetings for your firm. While many of you do hold monthly business review meetings, you must also make sure that you include marketing as a central component of the discussion. For discussion topics, listen to our weekly videos covering marketing insights.
Below are five topics that you should cover as part of this monthly business discussion:
- Intake: When discussing intake, it is critical to discuss the intake source. You want to make sure that you know where intake is coming from…and where it is not coming from. If you are spending a lot of money on SEO (search engine optimization), it goes to reason that you should be expecting intake from your website. Similarly, if you are sending out newsletters to your past clients and / or group of referring attorneys, you would expect intake from these sources to go up. If you are not seeing this sort of performance, it is time to ask “why?”
- ROI: It’s not enough to understand the source of the intake, but you also need to understand the cost, and thereby the ROI. If you received a single intake from an SEO campaign that cost you a lot of money, you should look at whether you want to continue that SEO campaign and those ad words.
- Marketing Strategy: If you have a strong understanding of case and client intake and of your intake cost and ROI, you are able to judge the success of your marketing strategy and discuss changes that you may need to make if your intake quantities and quality are not what you are expecting.
- Website Performance: Website performance is, for many law firms, the most important marketing measure and may be your largest marketing expenditure. Web performance can be very fluid due to the age of your website content, competition from other firms and status of SEO and SEM activities. Website performance is something that you need to continue to monitor on an ongoing basis.
- Contact List: Every month you should be adding to your list of clients, potential referrers, and other contacts. Are you? Not only that, but you probably have updated information for these contacts, including email addresses and addresses. Are you making these updates to your overall contact lists? This monthly review is a perfect time to do so. Monitoring and updating your contact lists is one of the easiest and most effective ways to grow your practice.
By including marketing as an agenda item in your monthly business reviews, you can ensure that your firm is always on top of its marketing efforts and making the most of its marketing budget and effort. By tracking the source, cost, and ROI of your marketing campaigns, you can make informed decisions about how to allocate your marketing resources. You can also use this information to improve your marketing strategy and get better results.
See you next time.
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