The Silent Practice-Killer: An Outdated Lead Conversion Process

Lead Conversion
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You could have the greatest legal services in the world, but if you can’t influence and motivate people to hire you, it doesn’t matter. The legal marketplace has radically changed, but the process that many attorneys are using for lead conversion has not. No longer can attorneys get by using the same old, tired lead conversion strategies that are decades old. This obsolete conversion process must be scrutinized for its effectiveness.

Update your lead conversion process or prepare to lose clients and business to the competition.

Strong lead generation and marketing plans bring a steady stream of potential clients to your practice. A solid and updated lead conversion process enables you to convert those prospective clients into paying clients. When your lead generation and lead conversion work synergistically, you will experience a significant impact on your bottom line.

What’s the point of being a brilliant attorney if you’re ineffective at getting people to retain you? What’s the point in marketing your services if you cannot consistently convert leads into paying clients? Lackluster and outdated lead conversion skills are the costly silent killer in your practice.

Without solid conversion skills and a sound process, your closing efforts will stall. Your marketing endeavors may be producing great leads, but if you don’t know how to close the business, it doesn’t matter. For marketing efforts to be successful, someone has to consistently say yes to you and pay you for your expertise and services.

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I’m never surprised when a managing partner tells me that their firm has spent its entire budget on marketing, with no money left over for training. Few firms have a dedicated budget for lead conversion training. They keep throwing money at the problem instead of investing in a sustainable solution.

Lead conversion skills are not an expense; they are an investment that pays massive and sometimes immediate dividends.

Why keep investing in marketing to attract prospective clients to your firm if you are not doing everything you can to convert these prospects into paying clients?

Figuring out why clients aren’t hiring your firm is an expensive problem that is always worth solving. Conversion issues never magically solve themselves. This silent practice-killer continues to take down many firms. Don’t allow your firm to be next.

Let’s do some real math. Say that an average client means an additional $5,000 to your practice and that two additional clients per month choose to retain you instead of the competition. This would net you an additional $10,000 per month, or $120,000 per year, with no extra marketing costs.

You would still meet with the same number of prospects, but more of them would hire you because you updated your approach and strengthened your conversion skills. Your closing ratios would increase because you understand how today’s savvy legal consumer makes buying decisions. You expend the same energy and effort with a profoundly different result.

What dollar amount did you come up with? Did that number make you gasp for air? Can you live with that kind of loss? There is too much at stake when your conversion and closing skills are weak and antiquated.

I recently worked with a family law firm that purchased expensive drive-time radio advertising spots. Many people took advantage of the free consultation offered, but few hired the firm.

Without looking at why the marketing efforts failed, the firm immediately launched into another high-cost marketing campaign to reach an even bigger audience. The partners were convinced that if they cast a wide enough net and spent more money on marketing, eventually they would close more business.

They were wrong. A second attempt and enormous amounts of money later, the partners realized that their marketing was effective but that the conversion skills of the attorneys were weak or non-existent.

Together we created a lead conversion process that fit seamlessly into their firm. They are now reaping the rewards of a great and marketing plan combined with a fully- functioning and profit-producing lead conversion process.

If prospective clients aren’t consistently retaining your services, that’s a clue that your conversion process is in dire need of a tweak, an update, or a full-blown transformation. Don’t waste another dime on marketing until your lead conversion process is functioning. When you have your conversion process dialed in, then you can confidently step on the gas of your marketing efforts.

Simply exposing your message to thousands of people doesn’t guarantee success and closed business. If you want to win, and win big, invest in the skills that convert interested prospects into invested clients. It is the best money that you will ever spend on your practice, and it pays for itself over and over, every time you win a new client. Liz Wendling

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