ROI

http://www.lawyermarketing.com/CM/Custom/White-Papers-Form.asp?wp=ROI-White-Paper.pdf

1. By measuring return on investment, or ROI, a law firm can achieve better results from its marketing budget. ROI measurement shows which marketing channels are delivering for your firm and where you need to make adjustments in order to improve performance.
2. ROI measurement is an ongoing process, not a one-time event. To get the most value for your money, it’s critical to track all of your marketing channels, evaluate their effectiveness, and then modify your strategy for better results.
3. A system for tracking spending and results from each marketing channel provides a good basis for measuring ROI. Web analytic software is one of the resources you can use.
4. It is important to track lead conversion, how many leads turn into clients, as well as the average value these clients bring to the firm.
5. Accurate evaluation factors in the cost per lead, the quality of leads and other benefits to your firm such as relationship building.
6. With ROI data in hand your firm can modify its marketing strategy – by fine-tuning your Web site, for example, to generate more search engine visibility and site traffic.

Value for the money. You expect it when you lease an office, invest in software or hire staff. The money you spend marketing your law firm should be no exception. Is your firm getting good value for its marketing dollar?

And if not, where are the opportunities for improvement?

Measuring return on investment, or ROI, from your marketing budget can help you gain better answers to those questions, and generate more new clients from your Web site and other marketing channels.

ROI measurement is an opportunity to review your marketing practices and make smart, informed decisions about the future – which strategies to emphasize, what’s working and what’s not, and whether your message is connecting with prospects or needs to be fine-tuned.

You don’t need a marketing degree to evaluate your marketing tactics, just a commitment to incorporating ROI into your day-to-day practice management. Step one is to track – via a software system or manual procedures – the leads generated by your marketing channels. Step two is evaluating which channels are delivering (in terms of new clients, value-percase and other key factors) for your firm.

With that information in hand, you can proceed to the final stage of effective ROI measurement: using the data you generate to periodically review your marketing strategy and make changes that generate more prospects that convert to valuable clients for your law firm.

Download the White Paper Here http://www.lawyermarketing.com/CM/Custom/White-Papers-Form.asp?wp=ROI-White-Paper.pdf