If you are a private practice lawyer who has yet to explore legal marketing, you may be familiar with the frustration of missing out on the big cases and the considerable fees that they bring. What makes things sadder is you don’t have to contend with such problems as there are remedies available to you, and one of these is legal marketing. Choosing to market, your service will not only resolve these problems but will also put your firm on the path to growth. Some platforms go well with this method of marketing, products that offer a vast array of marketing automation software benefits.
Legal marketing is a must if private practice lawyers are to survive. If you don’t think you possess what it takes to do marketing, you may be better off working for large corporations. But if you have what it takes, then go for it. All you need is to invest in law practice management software, create a sound marketing plan, and most importantly, the will to implement it.
To give your legal marketing effort that needed boost, we have compiled some of the most relevant and current legal marketing statistics. After you’re through reading this, you’ll be better prepared to market your legal services and find out for yourself the benefits that come with legal marketing.
To say that professionals do not need to market their services is off the mark. It’s a taxing job, but the benefits it offers far outweigh the effort and investments that come with it. This is true, especially for lawyer partners whose job security rests on their list of clients and the revenue they bring in annually. For this reason, it is always good practice to know how the market is doing, what consumers are thinking, and what current legal marketing law firm developments can be of use to you. As most marketing guides tell us, knowing one’s target market is paramount to converting prospects. But of course, you will need to use tools that will help you get the job done as in the case of top email marketing platforms.
Among the top developments in legal marketing is how the legal market has been adversely affected by the economic decline, with firms struggling to boost efficiency and productivity to stay competitive. But despite the poor market performance, law firms have managed to register a 5.5% increase in revenue. Demand for legal services has likewise increased, albeit a mere 1.3%. The sector has also suffered from financial losses from lost productivity while standard legal fees continue to lag behind those of other professions. These problems can be addressed through automation. Just take a look at current marketing software statistics and see for yourself. To give you a better idea of what’s going on in today’s legal market, we have compiled a number of relevant statistics below.
Law firms have been striving to up their marketing game by adopting different strategies to reach their target audiences. While this might mean spending more, the results justify them. How much do law firms spend on marketing? Expenditures vary, but many have been infusing their legal teams with additional personnel and even engaging marketers to become part of their business development efforts. Although not necessarily translating to market growth, these efforts are seen to put law firms in the right direction for growth. Find out more about what legal professionals have been doing to improve business by reading the following data, which include small law firm statistics.
More internal pressure to generate revenue%
Corporate counsel reducing the number of firms they work with%
Pressure from other law firms that use marketing%
Clients seeking new billing models%
Corporate counsels' in-sourcing of more work%
Increased demand for specialized expertise%
Source: legalmarketing.orgDesigned by
Just like any other industry, the legal profession has gone digital, with marketers exploring new channels to convert more leads into paying clients. Digital channels pertain to everything online, including video, email, and mobile. The popularity of the Internet has led legal marketers to focus their marketing budgets on this new tool. Law firms now maintain websites, through which many generate new clients. The use of top email marketing solutions has also become commonplace. The following are key digital legal marketing stats that can help you know more about these marketing innovations.
Essentially a part of digital legal marketing, social media legal marketing deserves its seat at the table as it exerts a major influence on the current legal landscape. With more people using social media, it’s but natural for law firms to use it as a marketing tool. This, coupled with mobile marketing solutions, has moved the legal marketing game a notch higher. The effort has been paying off as more law firms report on the remarkable impact it has had on marketing. We have here a number of statistics that reflect this development.
Recognizing the value of marketing, many law firms have been joining the legal marketing bandwagon. Numerous firms have been upgrading their marketing budgets, while many others plan to do the same. Investing in marketing gives law firms the chance to expand their markets as new marketing channels continue to emerge. Take a look at the following stats to find out how much law firms spend on marketing.
The growth and decline of the market for legal services largely depend on the state of the consuming public. Consumer behavior also plays a huge part in the sector’s earnings, along with customer preference. Apart from these, the explosion of online marketing tools has also influenced the market to a degree. Here, we list some of the most relevant stats that cover legal consumers.
Decided to just deal with it without help%
Didn't know where to look%
Wasn't sure if it was a legal issue%
Worried about costs%
Haven't had time%
Afraid to pursue legal action%
Source: lsc.govDesigned by
Marketing your legal services is no different from selling physical goods: there is always the need to reach out to customers. But there are also things that one should remember when engaging in legal marketing, as you’ll find out below.
Creating a marketing plan should be easy. It does not have to be complicated and can be done using simple tools such as spreadsheets, word processors or even project management software. The primary purpose of this document is to define all your marketing goals and the plans of action needed to achieve them. Strict timelines should be observed in carrying out your marketing plan.
What’s the use of making a marketing plan if you’re not going to use it, right? The operative word “follow” means that you adhere to your plan no matter what. Law firms are prone to scrapping marketing plans when business is thriving. Don’t fall for this. Just follow your marketing plan consistently and watch your firm grow.
Knowing the basic principles of marketing is always helpful. These can be found all over the Internet. All it takes is a little searching on your part. Know them by heart and apply them to your legal practice. Just see to it that you can define your specific law practice, the areas you want to focus on, and how much business you want to bring in from each area.
And that’s about it. By now, you should have an idea of how to go about marketing your legal services. Given the legal marketing figures we have presented, marketing your services should now be easier for you. And should you need a platform to help you out, pick one among the vast selection of marketing automation solutions currently in the market. They should help rid you of the headaches that you may come across in your search for new clients.
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