If you’re an attorney, you know how important law firm leads are to attracting new clients, cases, and retainers. But when it comes to new leads, all are not created equal. Some types of leads cost more than others; some may be highly qualified and exclusive, while others are just the opposite.
Generally speaking, attorney lead generation falls into two categories: active and passive generation. Active lead generation is the intentional process of generating leads through outbound marketing (online advertising, direct mail, TV, print) and targeted advertising (personal injury, divorce, medical malpractice, etc).
Passive lead generation, however, focuses on marketing your brand over the long term. The best passive attorney lead generation strategies rely on inbound marketing (SEO/PPC campaigns, content marketing, social media engagement, word-of-mouth).
Of course, how much you can pay per lead is a complicated process that includes many factors. In this article, we’ll review everything you need to know about lead generation, including cost-per-lead, conversion rates, and exclusive vs. non-exclusive leads.
Exclusive vs. non-exclusive leads
The cost of law firm leads can vary depending on several factors, including the average cost of closing cases, your practice area, and the geographic location of your practice.
One of the best ways to determine the cost of attorney leads is by doing a non-exclusive vs exclusive analysis. Non-exclusive leads are shared with multiple attorneys at the same time and are often generated by law firm lead companies or services. This means that the most aggressive law firm will most likely win the lead.
Non-exclusive leads are attractive to junior attorneys who are just starting out because the cost per lead (CPL) is relatively low. There’s also a better chance of a higher lead volume because of the wider lead distribution. But while the CPL is relatively low, the cost of converting a lead to a new case may be high because of the increased competition between law firms. Unsurprisingly, this can lead to a lower conversion rate.
Exclusive leads on the other hand, are provided to a single law firm or attorney. This means the lead is not shared with any of your competitors. Exclusive leads are typically generated through targeted marketing efforts or generated in-house.
While these leads may look expensive at first glance, the overall cost of acquisition is much lower compared to what you would pay to convert a non-exclusive lead. And with reduced competition, exclusive leads often have higher conversion rates since law firms can focus their efforts on nurturing and converting that specific lead.
Whether you’re using the exclusive lead distribution or the non-exclusive lead distribution model, the most important thing is to get a good ROI. That means you need to use all marketing tools at your disposal, but also ensure your response time and close rate is consistent and optimal.
Generating exclusive law firm leads through your website
The legal market is competitive, and multiple law firms are competing for the same leads online. So to increase your share of the pie, you need to ramp up your lead generation campaign.
Whether you’re buying law firm leads or generating leads through your website, Caroff Communications can help. We specialize in SEO for Attorneys in San Diego and design marketing campaigns that generate highly qualified leads and conversions. Stop wasting money on expensive trial-and-error mistakes and ineffective SEO. Talk to us today and see what we can do for your firm.