Time and Money Balance in the Law Firm Marketing
Time and money are the two most treasurable resources for any business. Companies of different sizes are always looking for the most efficient ways to get to the top without spending a lot. Yet, marketing is an endless game, and without timely and regular investments, you will more likely lose the results you achieved. And it is evident that for the law firms game rules are the same.Solo practitioners are more flexible when we are talking about time. Moreover, they don’t have huge budgets, so putting time into marketing efforts to grow the client list is a must. As for big law firms – they have enough resources to act independently with their own marketing departments. But even if you don’t have a team yet, you need to find out how to manage your marketing effectively without harm to your business.
How to balance your time and money?
The majority of legal marketing experts (and WiserBrand team, too) recommend spending up to 10% of law firm income on marketing. And if you are launching a new firm you will need to allocate 20-30% of your billing. But when you have a tight budget the cost of marketing and advertising seems to be unrealistic. That is why attorneys are interested in growing online without significant investments. The first, you need to understand – it is not easy. And the second, you need to find the golden mean between the time and money you are willing to spend.
If you just started your law firm, you will need to utilize more of everyone’s time to get money in the door. In these early days, when you are alone or have a couple of people with you, it can be quite simple. You and your team need to spend several hours a day researching, learning and executing marketing plans. You can share tasks between employees so that they can handle a specific marketing channel.
What do you need to market effectively
The very first step of marketing the law firm is building a strong online presence. The website and corporate social networks are a must for any business which wants to compete in a digital era we are in.
Of course, before building the website you need to fully understand what will be there. Create the list of pages you would like to have and plan the content schedule. You may either hire a website developer or try to create the website by yourself. Fullstack law firm website may cost you from 2,500 to 5,000 USD. You may consider cheap website building services, but they will work for the first couple of years, then you will definitely move to a self-hosted solution.
After you have a website in your hands, the easiest way to achieve the results is to start paid advertising. Google Adwords, banner ads, Facebook ads and other channels work well. The disadvantage of this method is that they cost a lot and will bring you leads now, but to get them in future you will need to spend even more. So you need to nurture your online presence.
How to nurture my online presence?
Professional marketers have one simple formula: “Content is the KING.” And you can also use it for yourself. Create your own editorial calendar of blog posts you are willing to publish. It is easy to get inspiration from successful law firm’s websites – their content usually educates a client about them, cases they do, the advice they have, etc. While publishing, be consistent. Publish at least a couple of articles a week. Search engines love frequently updated websites, and if you have a schedule you are following your website may start rank high.
Yet, it is not enough to update your website. Your content must be distributed online. That is why you need to have business profiles on social networks. Twitter, Facebook, Pinterest, Google Plus and LinkedIn are the must-haves for your law firm. Social networks are a good way to find new clients, and to create a positive image of your practice. Recent studies show that before calling a lawyer, 60% of customers check his or her social media activity first. It is highly recommended to be active on social media and post at least twice a day. To automate your business, use tools like HootSuite or Sprout Social. They both have basic profiles you can use for free.
Besides, all websites highly need backlinks. Backlinks are important because they give your website value and trust either from users or form search engines. The easiest way is to create profiles on business listings.
What are other options?
Of course, there will be a moment when you will not have time to do all these things alone. That means, your team has overgrown self-marketing approach. And in this case, you should start hiring marketers to do the work for you.
If the last passage is about you, you are at the right place. Contact WiserBrand now, and we will help you save your time on nurturing marketing activities.