How to Measure Your Marketing ROI for Lawyers

MyCase Legal Case and Practice Management Software
MyCase Legal Case and Practice Management SoftwareWeb-Based Law Practice Management Software at MyCase
1 2017 © AppFolio, Inc. Confidential.
Money Out the Window: How to
Measure Marketing ROI for Lawyers
#2018MarketingROI
How to Measure Your Marketing ROI for Lawyers
3
4
5 2017 © AppFolio, Inc. Confidential.
Stacey E. Burke, P.C.
• Nationwide law firm
business consulting practice
• Successfully employs online
demand generation to
increase case acquisition for
clients
• Stacey is a 16-year personal
injury trial lawyer, licensed in
Texas.
6 2017 © AppFolio, Inc. Confidential.
7 2017 © AppFolio, Inc. Confidential.
Selecting the Right Marketing
Vendors
8 2017 © AppFolio, Inc. Confidential.
Know Your Law Firm’s Needs
• Make a list of everything you’d like your future digital marketing
company to do.
• Determine your overall budget.
• Detail out in a memo which vendors you worked with
before / are currently working with and why
you chose them and why you are leaving them.
• Determine any deadlines and convey them to anyone you
talk to.
9 2017 © AppFolio, Inc. Confidential.
How Do I Pick The Right Vendor?
• Know their strengths
• Look at their current work
• Experience counts
• Size doesn’t always matter
• How does their own marketing look?
• How do they measure success?
• How long will it take to see results?
• Does it sound too good to be true?
10 2017 © AppFolio, Inc. Confidential.
How Do I Pick The Right
Vendor?
• Ask ALL of your questions
• Talk to references in your
same industry and/or
city
• Check them out online
• Secret shopping of
customer service
• Are you a large enough
customer to get their
attention?
11 2017 © AppFolio, Inc. Confidential.
Why Measure ROI?
12 2017 © AppFolio, Inc. Confidential.
Why Measure ROI?
• Justifying the marketing spend to the firm.
• Determining how much each new client/case costs, both
individually and on average by expenditure.
• Deciding what to spend on.
• Keeping up with your competition.
• Optimizing your expenditures based on your findings.
You can’t manage what you don’t measure.
13 2017 © AppFolio, Inc. Confidential.
ROI: Components to Measure
14 2017 © AppFolio, Inc. Confidential.
Calculating The Real Total Spend
Don’t forget to include your total marketing investment, not just the
media spend, including:
• Media costs
• Creative costs
• Printing and postage costs
• Software or technical costs
• Management time (such as account management charges from
your agency)
• Labor costs (marketing staff)
• Referral fees
15 2017 © AppFolio, Inc. Confidential.
Is My Marketing Working?
• Google Analytics
• Social Media Key Performance
Indicators
• Call Tracking and Recording
• Tracking Emails
• Form Submissions
• Live Chat Conversions
• Click to Call
• Click to Email
• Online Reviews and Ratings
16 2017 © AppFolio, Inc. Confidential.
I Don’t Know
Have you logged in to Google
Analytics in 2018?
Yes No
17 2017 © AppFolio, Inc. Confidential.
ROI: Online Expenditures
18 2017 © AppFolio, Inc. Confidential.
ROI Online Expenditures
• Email Marketing
o Deliverability
o Open Rate
o Clicks
o Unsubscribes/Spam
• Social Media Marketing
o Engagement (Clicks, Shares,
Likes, Reactions)
o Following
• Content Marketing
o Views
o Comments
o Time Spent on Page
o Clicks From Inbound Marketing
Initiatives
• Digital Advertising
o Clicks
o Calls
o Chats
o Form Submissions
o Video Views
Define success metrics: Law firms should tell vendors what success means to them and
vendors should explain back to law firms how they plan to monitor it (both short term and
long term).
19 2017 © AppFolio, Inc. Confidential.
ROI: Offline Expenditures
20 2017 © AppFolio, Inc. Confidential.
ROI: Offline Expenditures
• Types:
o Events
o Professional Networking
o Publication Opportunities
o Social Engagements
oSpeaking Opportunities
o Sponsorships
What is business development? The selling that results
from marketing.
21 2017 © AppFolio, Inc. Confidential.
ROI: Offline Expenditures-Events
Events account for the largest item in the average B2B CMO’s
budget, so we must track ROI. You can’t measure the ROI of
offline expenditures without a solid attribution model in place.
Measuring Success Metrics For:
• Events
o Registrations/Attendance
o Social Media Traction
o Media Coverage
o Website Traffic
o Create Opportunities/Generate Leads
o Increase Customer Satisfaction and Retention
22 2017 © AppFolio, Inc. Confidential.
ROI: Tools To Use
23 2017 © AppFolio, Inc. Confidential.
ROI: Sample Tools To Use
• Hubspot
• Email Marketing Native Metrics
• Mention
• Call Tracking and Recording
Software
• Customer Relationship
Management Software (CRM)
• Hootsuite
• Native Social Media Metrics
• Simply Measured
• Bitly
• Google Search Console
(Goals/Events)
• SpyFu
• SEMrush
24 2017 © AppFolio, Inc. Confidential.
ROI: Reporting
25 2017 © AppFolio, Inc. Confidential.
ROI: Reporting
• How often should law firms review reporting?
o Monthly
o Quarterly
o Annually
• History Matters: analyze past efforts (make sure to compare year-over-year)
• Competition Matters: research and monitor legal industry trends
• What do we want to know?
o Total Spend
o Acquisition Cost Per Lead
o Acquisition Cost Per Qualified Lead
o Acquisition Cost Per Lead We Tried To Sign
o Conversion Rate: Leads To Clients
o Acquisition Cost Per Client
o Acquisition Cost Per Qualified Client
o Estimated Value Per Case
o Revenue to Firm Per Case
26 2017 © AppFolio, Inc. Confidential.
ROI: Reporting - Implement
• Revise goals throughout the year
• Give lead quality feedback
• Continue to look backward as well as forward across the
year for trends and results
• Engage in ongoing quality control
Once we see data, how do we propose change to our
vendors/internal staff and how do we hold them
accountable?
27 2017 © AppFolio, Inc. Confidential.
STACEY BURKE
ATTORNEY/OWNER
1800 BERING DRIVE, SUITE 1010
HOUSTON, TEXAS 77057
OFFICE: (713) 714-8446
STACEY@STACEYEBURKE.COM
WWW.STACEYEBURKE.COM
28 2017 © AppFolio, Inc. Confidential.
Questions?
Contact Us!
mycase.com
support@mycase.com
800.571.8062
29 2017 © AppFolio, Inc. Confidential.
Thank You!
1 of 29

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How to Measure Your Marketing ROI for Lawyers

  • 1. 1 2017 © AppFolio, Inc. Confidential. Money Out the Window: How to Measure Marketing ROI for Lawyers #2018MarketingROI
  • 3. 3
  • 4. 4
  • 5. 5 2017 © AppFolio, Inc. Confidential. Stacey E. Burke, P.C. • Nationwide law firm business consulting practice • Successfully employs online demand generation to increase case acquisition for clients • Stacey is a 16-year personal injury trial lawyer, licensed in Texas.
  • 6. 6 2017 © AppFolio, Inc. Confidential.
  • 7. 7 2017 © AppFolio, Inc. Confidential. Selecting the Right Marketing Vendors
  • 8. 8 2017 © AppFolio, Inc. Confidential. Know Your Law Firm’s Needs • Make a list of everything you’d like your future digital marketing company to do. • Determine your overall budget. • Detail out in a memo which vendors you worked with before / are currently working with and why you chose them and why you are leaving them. • Determine any deadlines and convey them to anyone you talk to.
  • 9. 9 2017 © AppFolio, Inc. Confidential. How Do I Pick The Right Vendor? • Know their strengths • Look at their current work • Experience counts • Size doesn’t always matter • How does their own marketing look? • How do they measure success? • How long will it take to see results? • Does it sound too good to be true?
  • 10. 10 2017 © AppFolio, Inc. Confidential. How Do I Pick The Right Vendor? • Ask ALL of your questions • Talk to references in your same industry and/or city • Check them out online • Secret shopping of customer service • Are you a large enough customer to get their attention?
  • 11. 11 2017 © AppFolio, Inc. Confidential. Why Measure ROI?
  • 12. 12 2017 © AppFolio, Inc. Confidential. Why Measure ROI? • Justifying the marketing spend to the firm. • Determining how much each new client/case costs, both individually and on average by expenditure. • Deciding what to spend on. • Keeping up with your competition. • Optimizing your expenditures based on your findings. You can’t manage what you don’t measure.
  • 13. 13 2017 © AppFolio, Inc. Confidential. ROI: Components to Measure
  • 14. 14 2017 © AppFolio, Inc. Confidential. Calculating The Real Total Spend Don’t forget to include your total marketing investment, not just the media spend, including: • Media costs • Creative costs • Printing and postage costs • Software or technical costs • Management time (such as account management charges from your agency) • Labor costs (marketing staff) • Referral fees
  • 15. 15 2017 © AppFolio, Inc. Confidential. Is My Marketing Working? • Google Analytics • Social Media Key Performance Indicators • Call Tracking and Recording • Tracking Emails • Form Submissions • Live Chat Conversions • Click to Call • Click to Email • Online Reviews and Ratings
  • 16. 16 2017 © AppFolio, Inc. Confidential. I Don’t Know Have you logged in to Google Analytics in 2018? Yes No
  • 17. 17 2017 © AppFolio, Inc. Confidential. ROI: Online Expenditures
  • 18. 18 2017 © AppFolio, Inc. Confidential. ROI Online Expenditures • Email Marketing o Deliverability o Open Rate o Clicks o Unsubscribes/Spam • Social Media Marketing o Engagement (Clicks, Shares, Likes, Reactions) o Following • Content Marketing o Views o Comments o Time Spent on Page o Clicks From Inbound Marketing Initiatives • Digital Advertising o Clicks o Calls o Chats o Form Submissions o Video Views Define success metrics: Law firms should tell vendors what success means to them and vendors should explain back to law firms how they plan to monitor it (both short term and long term).
  • 19. 19 2017 © AppFolio, Inc. Confidential. ROI: Offline Expenditures
  • 20. 20 2017 © AppFolio, Inc. Confidential. ROI: Offline Expenditures • Types: o Events o Professional Networking o Publication Opportunities o Social Engagements oSpeaking Opportunities o Sponsorships What is business development? The selling that results from marketing.
  • 21. 21 2017 © AppFolio, Inc. Confidential. ROI: Offline Expenditures-Events Events account for the largest item in the average B2B CMO’s budget, so we must track ROI. You can’t measure the ROI of offline expenditures without a solid attribution model in place. Measuring Success Metrics For: • Events o Registrations/Attendance o Social Media Traction o Media Coverage o Website Traffic o Create Opportunities/Generate Leads o Increase Customer Satisfaction and Retention
  • 22. 22 2017 © AppFolio, Inc. Confidential. ROI: Tools To Use
  • 23. 23 2017 © AppFolio, Inc. Confidential. ROI: Sample Tools To Use • Hubspot • Email Marketing Native Metrics • Mention • Call Tracking and Recording Software • Customer Relationship Management Software (CRM) • Hootsuite • Native Social Media Metrics • Simply Measured • Bitly • Google Search Console (Goals/Events) • SpyFu • SEMrush
  • 24. 24 2017 © AppFolio, Inc. Confidential. ROI: Reporting
  • 25. 25 2017 © AppFolio, Inc. Confidential. ROI: Reporting • How often should law firms review reporting? o Monthly o Quarterly o Annually • History Matters: analyze past efforts (make sure to compare year-over-year) • Competition Matters: research and monitor legal industry trends • What do we want to know? o Total Spend o Acquisition Cost Per Lead o Acquisition Cost Per Qualified Lead o Acquisition Cost Per Lead We Tried To Sign o Conversion Rate: Leads To Clients o Acquisition Cost Per Client o Acquisition Cost Per Qualified Client o Estimated Value Per Case o Revenue to Firm Per Case
  • 26. 26 2017 © AppFolio, Inc. Confidential. ROI: Reporting - Implement • Revise goals throughout the year • Give lead quality feedback • Continue to look backward as well as forward across the year for trends and results • Engage in ongoing quality control Once we see data, how do we propose change to our vendors/internal staff and how do we hold them accountable?
  • 27. 27 2017 © AppFolio, Inc. Confidential. STACEY BURKE ATTORNEY/OWNER 1800 BERING DRIVE, SUITE 1010 HOUSTON, TEXAS 77057 OFFICE: (713) 714-8446 STACEY@STACEYEBURKE.COM WWW.STACEYEBURKE.COM
  • 28. 28 2017 © AppFolio, Inc. Confidential. Questions? Contact Us! mycase.com support@mycase.com 800.571.8062
  • 29. 29 2017 © AppFolio, Inc. Confidential. Thank You!