How To Attract Clients Without Hard Selling

Effective Practice Growth Strategies For Intellectual Property Lawyers, By Eria Odhuba

Why Marketing Metrics Are Important For IP Lawyers Who Want To Attract More Clients

As an IP legal services professional, how often have you run online and offline marketing campaigns that have not worked? When this happened, how did you analyse the effectiveness of the campaign(s) and what did you learn?

For many IP legal services professionals, inconsistent marketing tactics and campaigns tend to result from: (1) The lack of adequate metrics and measurement tools in the first place; and (2) Trying to sell IP legal services right at the outset without trying to build relationships with prospects first.

Simply setting a budget aside for postage, stationary, postcards or the purchase of prospect lists, and then measuring how many customers actually buy from you at the end of the campaign is not enough. If that is all you have done, then here are a few things you must think about.

  1. First of all, how many enquiries do you get and do you monitor how you get them? Are they a result of referrals or directly from communications you sent out yourself?
  2. How many prospects that made enquiries got converted into fee-paying customers?
  3. How long did it take to convert the prospects into customers and how many times did you contact them before they converted. Remember, it takes an average of 7 contacts with prospects to convert them into customers. Many sales people give up after 2 or 3 attempts.
  4. What is the marketing spend per prospect, i.e. how much did it cost to contact each prospect until they signed up or asked you not to follow up with them? This gives you your cost per acquisition.
  5. How much does each client spend with you, either on a per-transaction, monthly or annual basis?
  6. What is the gross profit from the fees paid by all your clients?
  7. What is your total marketing spend, and marketing spend as a percentage of gross profit?
  8. How long do clients stay with you, and can you calculate the average lifetime customer value NOW, and what you would like it to be in 1, 3 and 5 years time.

You need a proper system in place to get all the metrics above. Once you have them, the knowledge you have will help you plan and execute more effective marketing campaigns.

Underlying the marketing campaigns and metrics in place should be the key principles I have outlined in previous posts which include finding a target niche, providing free information that hot prospects in that niche are looking for, building trust with prospects, not trying to sell your services right from the start, and getting clients to sign up / pay for reports, webinars or seminars that help them make the decision to finally choose you as the IP legal services provider of choice.

I want to leave you with a couple of questions – what marketing metrics do you use in your IP legal services practice? Do they give you the intelligence you require to build effective and flexible marketing campaigns, or do you currently struggle to measure how effective your marketing campaigns are right down to the cost per prospect on a daily or weekly basis?

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