Lead quality is an important factor used to determine how well a lead generation campaign is performing. It is important to define what a quality lead is, as quality can be interpreted in different ways. Having a clearly established baseline for "quality" allows us to communicate effectively and make more informed decisions regarding campaign optimization. Most people understand that not all leads will convert into a paying client, but it is important that we monitor the overall lead quality and ensure that most leads meet a four objective criteria or standards. They are as follows:
1. Jurisdiction - The first factor to consider when determining lead quality is the location or jurisdiction of the prospect. Are they local or are the calling from outside of the direct market? If they are local, then the have met the first requirement.
1. Jurisdiction - The first factor to consider when determining lead quality is the location or jurisdiction of the prospect. Are they local or are the calling from outside of the direct market? If they are local, then the have met the first requirement.
2. Practice Area Specific - Are the leads reaching out with issues specifically related to the practice areas that we are advertising for? From time to time, primarily due to the consumers lack of legal education and not knowing what type of attorney they need, prospects may call about something other than the matters which a firm is trying to attract. As long as a prospect is calling about the practice are we are advertising for, then they have met the second criteria.
3. Day/Time - Are the leads calling during the days and times that we specified at the onset of the camapign? In trying to cultivate the best leads available, we typically run ads during the most advantageous times. Primarily from Monday through Friday and between the hours of 8:00 AM and 8:00 PM, these hours may vary based on the firm's particular availability. If calls are coming in during hours that you/your staff are available, then they have met the third criteria.
4. Ability to Pay vs Willingness to Pay - This is the most difficult standard to define as it is not directly observable and requires some careful communication with the prospect. While it is important to attract leads who have the financial means to pay for legal services, it is equally important to ensure that they are willing and motivated to do so. We use a careful combination of targeted keywords and negative keywords, along with the appropriate value propositions and top ad placements in an attempt to attract prospects that are both willing and able to retain an attorney. This can be determined by asking probing questions during the initial call or consultation. Each area of practice has a different set of questions that help us get to the bottom of this and we ask a few of them on the web form submission and get an even deeper analysis when the call agent takes the call in the event that they cannot warm transfer the phone call.
3. Day/Time - Are the leads calling during the days and times that we specified at the onset of the camapign? In trying to cultivate the best leads available, we typically run ads during the most advantageous times. Primarily from Monday through Friday and between the hours of 8:00 AM and 8:00 PM, these hours may vary based on the firm's particular availability. If calls are coming in during hours that you/your staff are available, then they have met the third criteria.
4. Ability to Pay vs Willingness to Pay - This is the most difficult standard to define as it is not directly observable and requires some careful communication with the prospect. While it is important to attract leads who have the financial means to pay for legal services, it is equally important to ensure that they are willing and motivated to do so. We use a careful combination of targeted keywords and negative keywords, along with the appropriate value propositions and top ad placements in an attempt to attract prospects that are both willing and able to retain an attorney. This can be determined by asking probing questions during the initial call or consultation. Each area of practice has a different set of questions that help us get to the bottom of this and we ask a few of them on the web form submission and get an even deeper analysis when the call agent takes the call in the event that they cannot warm transfer the phone call.
Key points to keep in mind:
If a prospect does not have the ability to pay the entire retainer up front , some law firms will workout a payment plan with them based on their income/assets. By doing so, these firms tend to retainer a greater percentage of leads that would otherwise fall through the cracks.
If a prospect has clearly demonstrated that they have the ability to pay, however, they are not moving forward with the retainer and seem hesitant, some law firms have developed systems that allow a prospect to engage the services of the firm in some small initial way in order to develop a relationship and earn their trust.
If a prospect has clearly demonstrated that they have the ability to pay, however, they are not moving forward with the retainer and seem hesitant, some law firms have developed systems that allow a prospect to engage the services of the firm in some small initial way in order to develop a relationship and earn their trust.
It is important to remember that not all leads will be good, but our data shows that if 50% the leads you receive meet the four standards outlined above, then you should expect to close on average, around 25% of the overall leads that you receive from your campaign(s).