‘How do you know which parts of your business’ marketing could be improved?’
This is one of the most common questions asked by almost any business. Whilst it can be easy to identify the success of a campaign, knowing where your firms’ vulnerabilities are can be tricky.
This is where tracking comes in. As well as providing you with a clearer picture of where you might be going wrong, tracking is the only effective way to measure the progress of your business over time as well as the real impact that marketing has had.
It can also signpost areas where you could be missing out. The legal sector can be slow to react when it comes to utilising new technology and in turn, can fail to take advantage of business areas which it could have profited from. The real question is: are law firms exploring the current state of their marketing and are they doing everything they can to adapt to a changing marketing landscape?
Research commissioned by First4lawyers showed that firms looking to increase their marketing budget are already undergoing business growth. Additionally, the main reason for firms not investing in marketing is due to them relying on referrals and word of mouth, largely because it’s a trusted method for them.
However, marketing isn’t the same as it was ten minutes ago, let alone ten years ago. As a growing sector, techniques are changing every day, so failing to utilise it at all isn’t the best strategy for any business. In order to ensure that your business stays up to date, it’s important to be alert to what’s happening in the marketing world; as well as boosting your firm’s awareness, this could put you ahead of competitors.
What should you be tracking?
One thing you definitely should be tracking when marketing your law firm is the return on investment (ROI). This is vital as it measures the gain or loss generated on your investments relative to the amount of money you invested. If you’re not measuring this how do you know if your marketing strategies are working?
In fact, whilst First4Lawyers found that 61% of law firms said they monitor the return on investment, the results revealed that only 42% knew how to do so. Answers included: ‘if it doesn’t work we won’t do it again’ or ‘we know what works and what doesn’t’. Shockingly this shows that mostly everybody investing in a marketing plan doesn’t know how to use it properly.
So, what are the most effective marketing tools when it comes to Law Firms?
First4Lawyers found that Online (website, content, SEO, apps) was the most effective marketing tool where law firms were concerned. This was followed by social media engagement and online paid search. The least effective methods were word of mouth and use of Data. The shift in effectiveness of certain strategies reflects the introduction of new technology being introduced within the legal services sector. As routines and techniques continue to change, it’s important that firms acknowledge this when creating their marketing plan; these are only effective when they are executed properly.
Here are some quick tips to help your marketing for 2018
Online presence – As well as having an engaging and interesting website, make sure that it’s also:
- Well optimised
- Contains relatable content
- Most importantly, secure
Digital PR – Make sure you link build between your site and other sites and always check the relevance and domain authority of the linking site. Most importantly; do not pay for links!
Content – Ensure that your content is fresh, relevant and relates to your industry. In order to keep potential clients interested, it’s also important that it links to up to date news and industry info.
Search Engine Optimisation (SEO) – Whilst this element of marketing has become the most complex, it can also be the most effective when done well. Ensure your keywords are relevant, your meta descriptions are accurate and remember to include alt tags.
Social Media – As well as posting your own content, make sure that you take time to engage with consumers and follow people/businesses who are relevant to you. Keep an eye out for relevant hashtags to show followers that you’re active and up to date.
If you want to find out more about monitoring the effectiveness of your marketing, book one of our marketing workshops. As well as identifying the methods which will work best for your business, our team of experts will help you to build a marketing strategy that’s tailored to your firm.